Saudi Madfu Closes $3.2 Pre-seed Round
The platform provides its services in accordance with Sharia controls without additional costs to customers.
Saudi-Arabia-based Buy Now, Pay Later (BNPL) platform Madfu has concluded a $3.2 pre-seed round from several investors.[1]
Read More: SAMA Issues Rules for Regulating BNPL
Madfu launched in 2023 after obtaining a license from the Saudi Central Bank “SAMA” to practice postpaid activity in the Kingdom in the sectors of tourism, entertainment, and e-commerce.
The platform provides services in compliance with Sharia controls without any hidden fees or additional costs to customers. Madfu targets broader sectors to increase the sales of store owners, especially with the increasing demand for post-paid services.
Also, Madfu announced that it has signed a cooperation agreement with the Saudi Tourism Authority to provide post-paid options in the tourism field.[2]