Riyadh - Mubasher: MoneyMoon has closed a $2.90 million (SAR 11 million) pre-series A round led by Core Vision, with backing from family offices and angel investors.

The funding will enhance technology, expand access to instant short-term financing, and support Vision 2030 goals of financial inclusion and innovation, according to a press release.

MoneyMoon operates under the Saudi Central Bank’s (SAMA) regulatory sandbox, making it the Kingdom’s first Sharia-compliant peer-to-peer (P2P) lending platform.

Founded in 2023 by Abdulmajeed Alaskar, the platform provides short-term financing with instant approvals and flexible investment opportunities, using machine learning (ML) to assess creditworthiness.