T2, a Saudi technology services and solutions provider, has announced at LEAP25 the acquisition of a majority stake in the Saudi fintech platform, Moola.

More to Know:

• Moola was founded in 2022 by Wasim Hammoud. It enables businesses to efficiently manage expenses and automate financial processes with transparency by providing solutions such as corporate business cards.
• T2 said that the acquisition will enable it to enter the fintech market and expand its range of services and solutions to offer broader options to its clients
• T2 claims that it has over 12,000 clients serving more than 35 million customers within and beyond Saudi Arabia.
• In 2024, T2’s revenue hit one billion SAR according to its statement.

Related Comments:

• Commenting on the acquisition, a T2 spokesperson stated: “Moola provides a comprehensive expense management platform, which will help us to expand into the financial services sector and empower our clients with its capabilities. This acquisition aligns with our expansion strategy to acquire exceptional tech products and provide our partners with more solutions”.
• Wasim Hammoud, Founder and CEO of Moola, said: “We are excited to partner with T2 as we take Moola to new heights. The acquisition will allow us to enhance our services, support more businesses in optimizing their financial operations, and strengthen our position as a corporate expense management platform in Saudi Arabia.”