Saudi Arabia’s fintech company Mthmr, specializing in personal expense management, has announced a successful seed funding round, raising US$1.6 million.
The funding round included participation from esteemed investors such as Waed Ventures, Dahran Trading Group, and Le Augure, alongside a group of supportive angel investors.
Conceived in 2021 by the visionary duo of Abdulrahman Qamsani and Abdulrahman Bin Nujifan, Mthmr set out on a mission to revolutionize personal finance management. The company introduced a comprehensive, user-friendly platform, deftly designed to enable individuals to precisely monitor personal expenditures and boost their savings effectively.
Beyond its financial functions, Mthmr also serves its user base by providing access to the latest deals and offers, bolstering their saving capabilities, and ensuring financial balance.
Abdulrahman Qamsani, co-founder and CEO of Mthmr, spoke of the seed funding round, emphasizing it as a clear demonstration of investor confidence in the company’s innovative vision, technological prowess, and growth potential.
He added “We take immense pride in aligning Mthmr with the Kingdom’s Vision 2030, as we continue to promote financial literacy and simplify personal expense management processes,
Abdulrahman Bin Nujifan, the co-founder, affirmed that the raised funding would be strategically invested to achieve growth and innovation goals within Mthmr. He added : “We are relentlessly working on developing an impressive suite of features for our users, aiming to automate the saving process. Furthermore, we are keen on implementing artificial intelligence to elevate the efficiency of our application, thereby offering greater value to our customers .”
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