Nqoodlet, a Riyadh, Saudi Arabia-based fintech platform for small and medium enterprises (SMEs), has secured a $3 million seed funding round.
Investors
The round was led by Waad Investments, with participation from OmanTel, 500 Sanabil Investment, Oqal, Seed Holding, and prominent strategic angel investors.
Waad Investments is a Saudi-based venture capital firm founded in 2024, focused on funding growth-stage technology startups across the GCC. The firm primarily targets the fintech and proptech sectors, offering capital and strategic mentorship.
Nqoodlet Use of Funds
The company will use the funds to scale operations, expand banking infrastructure, launch new financial tools, and grow its team across the GCC region.
About Nqoodlet
Founded by Mohamed Milyani and Yara Ghouth, Nqoodlet provides a fintech platform to streamline financial operations for SMEs across Saudi Arabia and the GCC region. It offers smart corporate cards, real-time expense tracking, VAT automation, bookkeeping, and integrated financial services designed to empower SMEs to operate more efficiently, save time, and reduce costs. Nqoodlet’s mission is simple yet ambitious: to eliminate financial chaos and help companies focus on growth, not paperwork. The company serves over 600 SMEs across the region.
Funding Details
Company: Nqoodlet
Raised: $3.0M
Round: Seed
Funding Date: May 2025
Lead Investor: Waad Investments
Additional Investors: OmanTel, 500 Sanabil Investment, Oqal, Seed Holding, and other strategic investors
Company Website: https://nqoodlet.com/
Software Category: Fintech / SME Financial Management
Source: Nqoodlet Press Release