ADVERTISEMENT
TechEconomy
Friday, June 6, 2025
No Result
View All Result
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
      • Accessories
      • Phones
      • Laptop
      • Gadgets and Appliances
      • Apps
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
      • Broadband
    • Mobility
    • Environment
    • Travel
    • Commerce
    • StartUPs
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • Appointment
    • EventDIARY
    • Editorial
  • Apply
  • TecheconomyTV
  • Techeconomy Events
  • BusinesSENSE For SMEs
  • TBS
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
      • Accessories
      • Phones
      • Laptop
      • Gadgets and Appliances
      • Apps
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
      • Broadband
    • Mobility
    • Environment
    • Travel
    • Commerce
    • StartUPs
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • Appointment
    • EventDIARY
    • Editorial
  • Apply
  • TecheconomyTV
  • Techeconomy Events
  • BusinesSENSE For SMEs
  • TBS
No Result
View All Result
Tech | Business | Economy
No Result
View All Result
Podcast

Home » Saudi Spend Management Platform SiFi Secures $10 Million Seed Round

Saudi Spend Management Platform SiFi Secures $10 Million Seed Round

Joan Aimuengheuwa by Joan Aimuengheuwa
June 3, 2024
in StartUPs
0
Saudi Spend Management Platform SiFi Secures $10 Million Seed Round
SiFi app

SiFi app

RelatedPosts

Twiga Foods Suspends Nairobi Operations for Two Months to Relocate, Cut Costs

Twiga Foods Suspends Nairobi Operations for Two Months to Relocate, Cut Costs

June 6, 2025

With $13 billion Trade Deals Binding Them, U.S.-Nigeria Handshake’ll Unlock Startup Ecosystem – Mills

June 6, 2025

SiFi, the Simplified Financial Solutions company headquartered in Saudi Arabia and specializing in spend management solutions, has secured $10 million in a seed funding round. 

The investment was led by Sanabil Investments, a subsidiary of the Public Investment Fund (PIF) of Saudi Arabia, and RAED Ventures, an early-stage venture capital firm focused on the MENA region.

Founded in 2021 by Ahmed Alhakbani, SiFi aims to simplify expense management for businesses operating in Saudi Arabia. The platform offers varying solutions designed for businesses to adequately manage their corporate spending. 

Saudi Spend Management Platform SiFi Secures $10 Million Seed Round
Advertisements
MTN ADS
Ahmed Alhakbani, SiFi founder

A key feature is automation of expense matching, categorization, and approvals. This eliminates the need for tedious manual tasks, saving businesses valuable time and reducing the risk of errors caused by human data entry.

SiFi also facilitates the issuance and management of corporate cards, providing employees with a convenient method for making business-related purchases while ensuring all transactions are tracked and accounted for within the platform.

For employees who don’t use corporate cards, SiFi simplifies the expense reimbursement process. The platform allows for easy submission and approval of reimbursement requests, ensuring a smooth workflow.

SiFi also ensures real-time expense tracking and analytics, providing businesses with insights into their spending patterns. With this data, businesses can make informed financial decisions and optimize their operations to achieve greater efficiency.

SiFi’s platform addresses common challenges associated with traditional expense management methods. Via the automation of tasks like expense matching, categorization, and approvals, the platform reduces the risk of errors caused by manual data entry. 

Aside from providing businesses with features like customizable card restrictions and real-time expense tracking to combat fraud, SiFi also addresses the issue of limited visibility into spending data through the provision of comprehensive expense data and analytics, allowing businesses to gain a clearer understanding of their spending patterns.

Alhakbani believes that SiFi can improve the efficiency of finance departments by helping them to simplify expense management processes and better serve other departments within the organization. He envisions SiFi evolving beyond expense management to become a comprehensive financial solution suite for businesses.

The recent funding round will fuel SiFi’s growth plans within the Saudi market. The company’s long-term vision includes expanding its operations beyond Saudi Arabia’s borders, and leveraging its scalable technology infrastructure.

This investment shows the growing occurrences of venture capital activity in Saudi Arabia. The Saudi government is implementing initiatives to facilitate innovation and entrepreneurship as part of its economic diversification plan aimed at reducing the nation’s dependence on oil revenue. 

SiFi joins a growing list of Saudi startups that have secured funding in 2024, despite the global slowdown in venture capital activity.

SiFi faces competition from other regional players in the spend management space, including Sanad (Saudi Arabia), Pemo (UAE), and Alaan. 

Loading

Author

  • Joan Aimuengheuwa
    Joan Aimuengheuwa

    Joan thrives at helping individuals and businesses scale via storytelling...

    View all posts
0Shares
Tags: Ahmed AlhakbaniRaed VenturesSanabil InvestmentsSiFiSpend Management
Previous Post

SanDisk Ultra Dual Drive Luxe USB Type-C Delivers Seamless Data Storage

Next Post

Cyber Incidents Top Concern for Financial Services Sector in 2024 – Allianz Risk Barometer Reveals

Joan Aimuengheuwa

Joan Aimuengheuwa

Joan thrives at helping individuals and businesses scale via storytelling...

Related Posts

Twiga Foods Suspends Nairobi Operations for Two Months to Relocate, Cut Costs
StartUPs

Twiga Foods Suspends Nairobi Operations for Two Months to Relocate, Cut Costs

by Joan Aimuengheuwa
June 6, 2025
0

But beneath the surface, this change exposes a company still wrestling with the consequences of earlier decisions that bloated its...

Read more
U.S.-Nigeria | Ambassador Richard M. Mills, Jr.,

With $13 billion Trade Deals Binding Them, U.S.-Nigeria Handshake’ll Unlock Startup Ecosystem – Mills

June 6, 2025
Heirs Technologies and Cisco

Heirs Technologies Equips Africa’s Future Tech Leaders with Real-World Exposure at Cisco Edge Centre

June 6, 2025
Ilorin Innovation Hub: West Africa’s Largest Tech Space to Generate 10,000 Jobs

IHS Nigeria Recommits to Raising Next Tech Giants from Ilorin Innovation Hub

June 6, 2025
From Nigeria to the World: Scaling African EdTech with GMind AI

From Nigeria to the World: Scaling African EdTech with GMind AI

June 5, 2025
Mobile Commerce: Samsung Partners Glance to Launch AI Shopping Experience

Mobile Commerce: Samsung Partners Glance to Launch AI Shopping Experience

June 4, 2025
Next Post
Lagos Business district, marina Lagos, Nigeria Economy, business growth, financial services sector

Cyber Incidents Top Concern for Financial Services Sector in 2024 - Allianz Risk Barometer Reveals

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Techeconomy Podcast

Techeconomy Podcast
Techeconomy Podcast

Infowave is brought to you by TechEconomy. Every week we will bring new stories from startups and influencers who are shaping and changing the world we live in. We’ll also bring you reports on topics you should know.

Follow us @techeconomyng for more.

TECH TALK EPISODE 2
byTecheconomy

PRODUCTIVITY AND WORK-Life Balance

TECH TALK EPISODE 2
TECH TALK EPISODE 2
May 22, 2025
Techeconomy
CYBERSECURITY ESSENTIALS
April 24, 2025
Techeconomy
Digital Marketing Trends and strategies for 2025 and beyond
February 27, 2025
Techeconomy
Major Lesson for Techies in 2024 and Projections for 2025
December 6, 2024
Techeconomy
Major Lessons for Techies in an AI-Driven World | Techeconomy Business Series Highlights
November 26, 2024
Techeconomy
Maximizing Profitability Through Seasonal Sales: Strategies For Success
November 8, 2024
Techeconomy
Techeconomy Business Series
October 15, 2024
Techeconomy
PRIVACY IN THE ERA OF AI: GETTING YOUR BUSINESS READY
May 30, 2024
Techeconomy
Unravel the Secrets of Marketing Everywhere All At Once with Isaac Akanni from Infobip | Infowave Podcast Episode 1
February 9, 2024
Techeconomy
The Role of Ed-tech in Life Long Learning and Continuous Education
October 19, 2023
Techeconomy
Search Results placeholder

WHAT IS TRENDING

https://www.youtube.com/watch?v=g_MCUwS2woc&list=PL6bbK-xx1KbIgX-IzYdqISXq1pUsuA4dz

Follow Us

  • About Us
  • Contact Us
  • Careers
  • Privacy Policy

© 2025 Techeconomy - Designed by Opimedia.

No Result
View All Result
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
      • Accessories
      • Phones
      • Laptop
      • Gadgets and Appliances
      • Apps
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
      • Broadband
    • Mobility
    • Environment
    • Travel
    • Commerce
    • StartUPs
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • Appointment
    • EventDIARY
    • Editorial
  • Apply
  • TecheconomyTV
  • Techeconomy Events
  • BusinesSENSE For SMEs
  • TBS

© 2025 Techeconomy - Designed by Opimedia.

Translate »
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.