Saudi-based fintech Nqoodlet has closed a $3 million seed round to accelerate its mission of transforming SME financial management across the GCC.
The round was led by Waad Investments, with participation from Omantel, 500 Sanabil Investment, Oqal, Seed Holding, and other strategic backers.
Founded by Mohamed Milyani and Yara Ghouth, Nqoodlet offers a unified platform that includes smart corporate cards, real-time expense tracking, financial automation, and VAT-compliant bookkeeping, providing SMEs with a seamless financial operating ecosystem.
Since launch, the platform has helped over 600 SMEs gain financial clarity, with users reporting an 80% increase in operational efficiency and annual cost savings averaging SAR 200,000, amounting to SAR 80 million in total managed expenses.
“SMEs in our region have been underserved for too long,” said CEO Mohamed Milyani. “This funding is rocket fuel to help us scale, integrate deeper with banks, and bring financial clarity to thousands of businesses that deserve better.”
Nqoodlet: Building GCC’s First Financial OS for SMEs
Nqoodlet’s core vision is to become the financial backbone of SMEs in Saudi Arabia and the broader Middle East, simplifying workflows and helping founders focus on growth, not bureaucracy.
Key features include:
- Clarity: Real-time financial visibility
- Control: Spend governance across teams
- Efficiency: Automated VAT, accounting, and planning
- Resilience: Risk management and fraud prevention
- Strategic growth: Data-driven financial decision-making
“We’re not just managing money, we’re helping businesses scale smarter and faster,” said Yara Ghouth, Co-founder of Nqoodlet.
Strategic Backing for a Regional Fintech Breakout
Lead investor Waad Investments underscored the long-term opportunity saying, “They’re building not just a product but the infrastructure for next-gen fintech in the GCC,” said Yasser Alghamdi, CIO at Waad Investments.
The investment will enable Nqoodlet to:
- Expand its banking and open finance infrastructure
- Launch new modules for automated tax filing and financial planning
- Accelerate partnerships with banks, telcos, and SME ecosystem players
- Invest in top regional tech and finance talent
As Nqoodlet positions itself at the heart of GCC’s digital economy, it’s on track to become the go-to financial OS for a growing wave of startups and SMEs across the region.
“This round isn’t just about capital, it’s a signal that the region is ready for fintech built for growth,” said Ghouth.
