LITE-

Riyadh-based financial services solutions startup Lite raised USD 3.2 mn in a pre-seed round led by Scene Holding, according to a press release. The raised funds will go towards meeting the financial requirements of the necessary licenses from the Saudi Central Bank (Sama), and will also be leveraged to “build the team and the technology” required to operate in Saudi, co-founder and CEO Fahad Anteet told EnterpriseAM Saudi.

About Lite: Founded by Fahad Anteet (LinkedIn), Soliman Aldukhil (LinkedIn) and Mohamed Faheem (LinkedIn), Lite aims to solve critical payment challenges for businesses by providing comprehensive payment solutions, including acceptance, wallets and issuing services.

What they said: “We are trying to build a comprehensive solution that fits merchant needs overall. We don’t want to build bits and pieces.. we are building an in-house technology that is fully localized and tailored to the Saudi market,” said Anteet.

LEAJLAK-

Homegrown logistics startup Leajlak raised SAR 10 mn in a seed funding round that saw contributions from undisclosed angel investors, according to a post on LinkedIn. The funds will fuel the startup’s geographic expansion, entrance into new e-commerce and modern retail sectors, R&D, and the recruitment of new talents.

About Leajlak: Founded in 2020 by Bader Alharbi (Linkedin), CEO Khalid Albakry (Linkedin), CCO Ahmed Rashid (Linkedin), and CTO Haseeb Rahman (Linkedin), the on-demand last-mile delivery service is specially geared towards e-commerce platforms. The startup also leverages a hybrid system that optimizes captain assignments for both express and parcel deliveries.

EBRA-

Riyadh-based Fintech startup Ebra secured USD 2 mn in a seed funding round led by Scene Holding, with participation from Raz Holding and undisclosed angel investors, according to a LinkedIn post. The funding, announced at Leap, will go towards expanding the fintech’s geographical scope and improving its tech platform, allowing the platform to reach a larger number of users and businesses while improving user experience, according to a press release.

About Ebra: Founded in 2023 by CEO Saud Al Anzi (LinkedIn), Ebra leverages AI to provide debt collection services that adhere to ethical and regulatory standards. The platform offers users data-driven insights and features an advanced dashboard.

VASTMENU-

Payment solutions startup VastMenu closed SAR 5 mn in a pre-seed investment round led by on-demand delivery company Mr. Mandoob, according to a press release. No further details were disclosed.

About VastMenu: VastMenu, founded last year by Adel Al Otaibi (LinkedIn), offers QR code and NFC-based payment solutions for restaurants, cafés, and hotels, enabling smooth ordering and flexible menu management without app downloads.

SPOILZ-

Mobile gaming developer Spoilz Studio closed an undisclosed seed funding round led by Impact46 and strategic investors, according to a statement from Batic Law Firm, which provided counsel on the transaction. The fresh funds are earmarked to support the development of new IPs, develop local talent, while bolstering player engagement and monetization efforts.

IN CONTEXT- The investment was supported by the National Development Fund (NDF), which looks to spur growth in the Saudi e-gaming industry. NDF oversees sectoral finance ecosystems and promotes strategic partnerships towards achieving this goal. The effort also plays into the National Strategy for Gaming and E-Sports’s, which aims to contribute up to SAR 50 bn to the country’s economy by 2030.

About Spoliz: The Riyadh-based mobile gaming studio and publisher was founded by Musab Al-Maliki (LinkedIn) in 2020.

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