T2 acquires majority stake in Saudi startup Moola

By Gloria Methri

T2, a Saudi technology services and solutions provider, has acquired a majority stake in the Saudi startup platform Moola.

T2 is a business development company offering intelligent software solutions that focus on improving R&D and business intelligence, enabling over 12,000 clients with innovative software solutions and services.

The acquisition will enable T2 to enter the FinTech market and expand its range of services and solutions to offer broader options to its clients within and beyond Saudi Arabia.

Commenting on the acquisition, a T2 spokesperson said, “Moola provides a comprehensive expense management platform, which will help us to expand into the financial services sector and empower our clients with its capabilities. This acquisition aligns with our expansion strategy to acquire exceptional tech products and provide our partners with more solutions”.

Founded in 2022 by Waseem Hammoud, Moola enables businesses to efficiently manage expenses and automate financial processes with transparency by providing solutions such as corporate business cards.

Waseem Hammoud, Founder and CEO of Moola, said, “We are excited to partner with T2 as we take Moola to new heights. The acquisition will allow us to enhance our services, support more businesses in optimising their financial operations, and strengthen our position as a corporate expense management platform in Saudi Arabia.”

T2 Company seeks to be the first innovation tech centre in the Kingdom of Saudi Arabia and a major hub in the market for world-class digital solutions providers that assist businesses in their digital transformation journey and keeping up with technology in this digital era.