Moneymoon Company Profile

Background

Overview

Moneymoon is a pioneering financial technology company based in Riyadh, Saudi Arabia, specializing in Sharia-compliant peer-to-peer (P2P) lending. Established in 2023 by founder Abdulmajeed Alaskar, Moneymoon operates under the Saudi Central Bank's (SAMA) Regulatory Sandbox, positioning itself as the first and leading P2P lending platform for individuals in Saudi Arabia and the broader Middle East region.

Mission and Vision

Moneymoon's mission is to revolutionize the lending experience by offering simple, human-centric, and rapid financial solutions. The company's vision aligns with Saudi Arabia's Vision 2030 objectives, aiming to enhance financial inclusion and foster innovation within the financial sector.

Industry Significance

As the first Sharia-compliant P2P lending platform in Saudi Arabia, Moneymoon plays a pivotal role in integrating Islamic finance principles with modern financial technology, thereby contributing to the diversification and modernization of the Kingdom's financial ecosystem.

Key Strategic Focus

Core Objectives

Financial Inclusion: Provide accessible and inclusive financial services to underserved individuals and small and medium-sized enterprises (SMEs).

Technological Innovation: Leverage advanced technologies to streamline lending processes and enhance user experience.

Sharia Compliance: Ensure all financial products and services adhere to Islamic finance principles, particularly through the use of Murabaha-based financing structures.

Areas of Specialization

Short-Term Financing: Offer quick, short-term loans ranging from SAR 1,000 to SAR 5,000, repayable in a single installment upon the borrower's next salary.

Flexible Investment Opportunities: Provide investors with options tailored to different risk appetites, with transparent borrower scoring (A, B, C, D) and one-month maturity.

Key Technologies Utilized

Machine Learning: Employ machine learning algorithms to assess borrower creditworthiness, ensuring faster approvals and better protection for investors.

Primary Markets Targeted

Individual Borrowers: Individuals seeking immediate, short-term financing solutions.

Investors: Individuals and institutions interested in Sharia-compliant investment opportunities within the P2P lending space.

Financials and Funding

Funding History

Pre-Seed Round (July 8, 2025): Raised an undisclosed amount from W2 Investments.

Pre-Series A Round (September 2025): Secured $2.9 million (SAR 11 million) led by Core Vision, with participation from family offices and angel investors.

Utilization of Capital

The funds are intended to enhance technological infrastructure, expand access to instant short-term financing, and support the company's alignment with Saudi Arabia's Vision 2030 goals for financial inclusion and innovation.

Pipeline Development

Key Pipeline Candidates

Moneymoon's primary focus is on developing and scaling its P2P lending platform, with an emphasis on:

Platform Expansion: Enhancing the platform's capacity to handle increased user activity and transaction volumes.

Product Development: Introducing new financial products that cater to the evolving needs of borrowers and investors.

User Experience Enhancement: Improving the digital interface to ensure a seamless and intuitive user experience.

Anticipated Milestones

Short-Term Financing Solutions: Continued growth in the adoption of short-term loans, with a focus on increasing the loan book and expanding the investor base.

Technological Advancements: Ongoing refinement of machine learning algorithms to enhance credit risk assessment accuracy.

Technological Platform and Innovation

Proprietary Technologies

Machine Learning Algorithms: Utilized to evaluate credit risk with precision, enabling faster approvals and smarter decision-making.

Significant Scientific Methods

Murabaha-Based Financing Structure: Ensures compliance with Islamic finance principles, offering transparent and ethical financial transactions.

Leadership Team

Key Executives

Abdulmajeed Alaskar: Founder and CEO. With a background in financial technology, Alaskar established Moneymoon to address the need for Sharia-compliant P2P lending solutions in Saudi Arabia.

Market Insights and Competitor Profile

The fintech sector in Saudi Arabia is experiencing rapid growth, driven by initiatives like Vision 2030, which emphasizes financial sector innovation and inclusion. Moneymoon's entry into the P2P lending market addresses a significant gap, offering Sharia-compliant financial solutions that cater to the needs of both borrowers and investors.

As a pioneering entity in the Sharia-compliant P2P lending space within Saudi Arabia, Moneymoon faces limited direct competition. However, it operates within a broader fintech ecosystem that includes traditional banks and emerging digital financial services providers.

Moneymoon's collaboration with the Shariyah Review Bureau (SRB) for Sharia certification underscores its commitment to compliance and ethical financial practices.

Moneymoon's focus on technological innovation, particularly in machine learning for credit assessment, provides a competitive edge in offering rapid and secure financial solutions. Its Sharia-compliant model appeals to a significant segment of the Saudi population seeking ethical financial services.