The Moyasar story: how Moyasar spent 8 years without an investor
The story of Moyasar: a payments company founded in Riyadh in 2015 by Saudi engineers. It worked 8 years without an announced round, received a Saudi Central Bank license, and its first round was 78 million riyals, led by Jahez, one of its customers.
Full film transcript
Eight years, without any announced investment round.
And when the round finally came, the investor was one of its customers.
Moyasar was founded in Riyadh in 2015 by Saudi engineers.
In 2016, its first electronic payment went through.
The idea: a merchant connects once and accepts mada, Visa, Apple Pay, and stc pay.
In 2022, it received a Saudi Central Bank license as a payments company.
In 2024, the first round came: 78 million riyals, led by Jahez.
Yes, the delivery app, which is already one of its customers.
In 2025, it launched a payment gateway it built in-house, which even banks can use.
In 2024, it was serving more than 6,000 merchants, including Jahez, Ninja, and Zid.
Valuation? Undisclosed.
The lesson for you as a founder: sometimes the best investor is your customer.
Follow us at Saudi Founders.
Detailed figures and sources are in the Moyasar profile in the directory.
