MADFU Secures $25.5 Million Pre-Series A to Accelerate BNPL Expansion in Saudi Arabia
Saudi-based MADFU, a Buy Now, Pay Later (BNPL) provider, has closed a $25.5 million Pre-Series A funding round, with participation from Afaq Capital and a group of angel investors.
The company plans to utilize the funding to expand its operational footprint, strengthen its merchant partner network across Saudi Arabia, and continue investing in the development of its technology infrastructure and digital payment solutions to support the commerce and services sectors.
Founded in 2022 by Abdullah Alibrahim, Ahmed Alwusheel, and Anas Alshuqair, MADFU obtained official authorization from the Saudi Central Bank to provide BNPL services to individuals and commercial sectors through flexible installment plans of up to six payments with no interest or hidden fees.
The company offers tailored payment options designed to facilitate purchasing decisions and reduce financial pressure on consumers, while delivering mutual value to both customers and merchants through secure, user-friendly digital payment solutions aligned with the rapid growth of the Saudi fintech ecosystem.
