Saudi Fintech Madfu Lands $25.5M for Rapid Expansion in Buy Now, Pay Later

Saudi fintech startup Madfu raised USD 25.5M in a Pre-Series A funding round. The Riyadh-based company offers Buy Now, Pay Later services that let customers split purchases into interest-free installments. Afaq Capital led the round, with angel investors joining in. Company Background Founders Abdullah Alibrahim, Ahmed Alwusheel, and Anas Alshuqair started Madfu in 2022. The platform provides Sharia-compliant payment options with no hidden fees. Customers pay up to six installments, easing financial pressure on everyday buys like electronics or groceries.​ The Saudi Central Bank licensed Madfu early on for BNPL services. This approval puts