By Delisha Fernandes
August 03, 2023
- Expense Management
- Fintech news
- FinTech Saudi Arabia
Mthmr, a FinTech company specialising in personal expense management, has announced it has raised 6 million SAR (Saudi Riyal) in seed funding.
The funding round was led by esteemed investors such as Waed Ventures, Dahran Trading Group, and Le Augure, alongside supportive angel investors.
Abdulrahman Qamsani, co-founder and CEO of Mthmr, said, “It is a clear demonstration of investor confidence in the company’s innovative vision, technological prowess, and growth potential. 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.”
Mthmr aims to enhance personal finance management. The company introduced a comprehensive, user-friendly platform that allows 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 Bin Nujifan, co-founder, said, “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.”
Mthmr makes savings seamless and effortless by providing its users with tools such as cashback, roundup, and recurring and direct deposits, which all go directly to the user savings account, and allow users to invest their savings into shariah-compliant portfolios.
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