Saudi Arabia-based Morni, a fast-growing tech-enabled automotive services platform, has secured a new investment from STV, MENA’s largest independent venture capital fund.
The funding, drawn from STV’s newly launched $100 million NICE fund, marks a pivotal step in Morni’s evolution from a roadside assistance provider to a full-spectrum automotive services ecosystem.
Though the amount was not disclosed, the investment signals the strong belief in Morni’s scalable model and sector-wide potential, particularly as the startup expands into new verticals including vehicle auctions, garage networks, insurance third-party administration (TPA), and spare parts dismantling.
“This partnership with STV comes at a defining moment as we transition to scaled execution,” said Salman Alsuhaibaney, Chairman and CEO of Morni.
“With STV’s support through a swiftly executed NICE structure that enables efficient scaling while preserving strategic flexibility, we will accelerate Saudi Arabia’s mobility transformation and directly contribute to Vision 2030’s road safety and quality of life goals.”
How STV is Building Saudi’s Integrated Auto Services Stack
Morni’s tech-first approach now powers a growing nationwide infrastructure, including:
- 75 digitally connected garages across the Kingdom
- A 5-minute FNOL (first notification of loss) response time
- Entry into the UAE market
- Strategic leadership hires and a doubling of the workforce
The company operates a dedicated technology hub, aiming to streamline every part of the car ownership journey—from breakdowns to repairs, insurance claims to salvage and spare parts.
“Morni is building the infrastructure for an end-to-end automotive value chain,” said Abdulrahman Alageel, Partner at STV.
“We believe in Morni’s potential to drive transformation in a sector that has long struggled with fragmentation and inefficiencies.”
STV’s latest investment reflects growing appetite for connected, tech-driven mobility platforms in MENA. With Morni, the fund is backing a homegrown leader with the tools, scale, and ambition to reshape how automotive services are delivered, and to position Saudi Arabia at the forefront of next-gen mobility innovation.
