Homegrown fintech startup Nqoodlet secured USD 3 mn in a seed funding round led by Aramco’s VC arm Wa’ed Ventures, according to a press release (pdf). Omantel, 500 Sanabil investment, Oqal, and Seed Holding, along with several strategic angel investors, also participated in the round.

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Where will the money go? The fresh capital will be used to develop Nqoodlet’s platform features, expand its GCC regional footprint, and grow its network of partners.

About Nqoodlet: Founded in 2021 by Mohamed Milyani (LinkedIn) and Yara Ghouth (LinkedIn), Nqoodlet offers an all-in-one financial platform that aims to streamline SME operations with smart corporate cards, real-time expense tracking, tax automation, and payment tools.

IN OTHER STARTUP NEWS- Homegrown healthcare startup Tuba raised USD 8 mn (SAR 30 mn) in a pre-seed round led by Al Waalan Investment, with participation of unnamed angel investors, according to a press release.

Where will the money go?The company plans to use the proceeds to launch its operations in the Kingdom, develop technical infrastructure, and hire new staff as it seeks to capitalize on the digital transformation of the healthcare sector across the country.

“We aim to create a significant shift using artificial intelligence, helping make healthcare management more efficient, equitable, and inclusive,” founder and CEO Fayez Alanazi said.

About Tuba: Founded by Alanazi (LinkedIn) in 2024, Tuba leverages AI to improve healthcare management by delivering transparent, patient-centric solutions for both providers and users via its platform.

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