Mala

Mala is a Saudi B2B fintech offering a procure-now-pay-later (PNPL) service: SME buyers get 30- or 60-day payment terms on purchases made online, by phone or in-store, while their suppliers receive immediate cash payment. Credit decisions draw on the buyer's financial metrics, legal standing and market reputation. Founded in Riyadh in 2024 by angel investor Musaab Hakami, Mala raised a $7 million pre-seed round led by VentureSouq in October 2024, with BECO Capital, Shorooq Partners, M Capital, Access Bridge Ventures, Palm Ventures, Waad Investment and D Global Ventures participating, ahead of its launch in Saudi Arabia.