FinTech Nqoodlet raises $3m to redefine SME finance in GCC

By Gloria Methri

Nqoodlet, one of Saudi Arabia’s fastest-growing FinTech platforms, has secured $3 million in seed funding to accelerate its mission of transforming SME finance in the Middle East. The round was led by Waad Investments, with participation from OmanTel, 500 Sanabil Investment, Oqal, Seed Holding, and a strategic network of FinTech-focused investors.

Founded by Mohamed Milyani and Yara Ghouth, Nqoodlet is building a Financial Operating System tailored specifically to the financial and operational needs of small and medium-sized enterprises (SMEs) in the region.

The all-in-one platform offers:

• Smart corporate cards with real-time expense controls
• Automated VAT filing and bookkeeping
• Open banking integrations
• Strategic planning and financial reporting tools
• A curated marketplace for SME services

By integrating banking infrastructure, financial automation, and intelligent data analytics, Nqoodlet enables businesses to streamline operations, improve cash flow visibility, and gain greater financial control.

Since launch, Nqoodlet has supported over 600 SMEs, helping them improve financial efficiency by over 80% and generating collective expense savings of around 80 million SAR.

“We are not just building better FinTech tools — we are building the financial backbone for the future of business in GCC. Our goal is to replace outdated, fragmented systems with a technology-first platform that makes finance effortless, automated, and ready for the scale of tomorrow’s businesses,” said Mohamed Milyani, CEO & Co-founder of Nqoodlet.

The newly raised capital will accelerate product development, strengthen AI capabilities, expand banking integrations, and scale the technology and customer success teams.

With strong early adoption, established banking partnerships, and a robust product roadmap, Nqoodlet is well-positioned to lead the FinTech-driven transformation of SME financial services across Saudi Arabia and the wider GCC region.

“The future of SME finance is no longer about patching old systems. It’s about reimagining finance from the ground up — fast, integrated, and built for entrepreneurs,” said Yara Ghouth, Co-founder of Nqoodlet.