Muhlah closes SAR 28.25 million (USD 7.5 million) Seed round led by BIM Ventures and Japan’s SBI Group to scale Shariah-compliant consumer microfinance in Saudi Arabia

Logo of Muhlah Zamaniyah for Finance

Muhlah Zamaniyah for Finance, operating under the brand Muhlah, a Saudi fintech-enabled consumer microfinance company licensed by the Saudi Central Bank (SAMA), announced the closing of its Seed investment round totaling SAR 28.25 million (USD 7.5 million).

The round was led by BIM Ventures and SBI Group, a Japanese financial conglomerate, with participation from AlSuhaimi Holding Group and Fakhr Investment Holding Company. Muhlah is a venture-studio spinoff from BIM Ventures, established to deliver regulated, scalable financing solutions supported by strong governance and compliance.

This round reflects the growing attractiveness of Saudi Arabia to foreign capital within a well-regulated financial sector. The participation of SBI Group represents foreign direct investment supporting Muhlah’s expansion and accelerating its ability to deliver Shariah-compliant financing solutions, building on the strategic partnership between BIM Ventures and SBI Group.

Muhlah intends to progressively expand its financing capacity through Shariah-compliant structures, including off-balance-sheet and partner-backed arrangements. The company intends to explore additional funding channels and international partnerships to support the company’s growth, subject to market conditions and further agreements.

In a statement, Yoshitaka Kitao, Representative Director, Chairman, President & CEO said:

“The shareholders, BIM and SBI Group, entered into the memorandum of understanding in May 2024, under the support of the Ministry of Investment (MISA), regarding a strategic business alliance that includes the joint establishment and management of investment funds. This transaction represents one of the concrete initiatives undertaken pursuant to that alliance.”

Mohamed Amine Merah, Managing Partner & CEO, BIM Ventures, said:

“From inception, Muhlah was designed to bridge local market expertise with global financial depth. Our partnership with SBI Group, one of Asia's largest financial conglomerates, brings a unique combination of fintech know-how and access to Japanese and international capital markets into Saudi Arabia's consumer finance sector. This round reflects what the BIM-SBI alliance was built to achieve: creating investable, regulation-ready platforms that attract world-class partners to the Kingdom.”

Abdulaziz AlRammah, Chief Executive Officer of Muhlah, will lead the company’s next phase of growth, focused on expanding access to Shariah-compliant consumer microfinance through responsible products that strengthen transparency, affordability, and sustainable repayment outcomes.

About Muhlah

Muhlah Zamaniyah for Finance, operating under the brand Muhlah, is a Saudi consumer microfinance company licensed by the Saudi Central Bank (SAMA). Muhlah provides Shariah-compliant, technology-enabled financing solutions with a focus on credit discipline, transparency, and compliance to expand access to finance sustainably across the Kingdom.

About BIM Ventures

BIM Ventures is a Saudi venture studio and investment platform focused on building and backing high-impact technology companies in Saudi Arabia and the region.

About SBI Group

Founded in 1999, the SBI Group is a comprehensive internet financial group that operates Financial Services Business, centering on securities, banking, and insurance, as the pioneer of internet-based financial services in Japan. The Group is committed to providing lower-cost and highly convenient products and services through the internet. In addition to its core financial services operations, the SBI Group also engages in Asset Management Business, Private Equity Investment Business, Crypto-asset Business, and Next Gen Business on a global scale.

Media Contact

Muhlah | Rahaf Abdullah Alhuwaishel | ralhuwaishel@muhlah.sa | 0550915025 | muhlah.sa