Riyadh - Sharikat Mubasher: The Saudi-based Simplified Financial Solutions Company (SiFi) completed its acquisition of Neya Technologies, a B2B expense management platform based in Dubai, for an undisclosed amount.

With this acquisition, Neya Technologies’ leaders Rami Panayoti and Mohammed AlMughrabi will join SiFi as Co-founders, bringing their expertise to continue SiFi's mission of simplifying finance for all organizations, a recent statement revealed.

Panayoti will serve as Chief Business Officer (CBO), bringing over a decade of experience across venture capital, consulting, and technology, while AlMughrabi will be the Chief Technology Officer (CTO).

This acquisition reflects the commitment of both parties to excellence and underscores their shared vision for the future of business finance.    

Ahmed AlHakbani, Co-founder and CEO of SiFi, said: “We're working day and night to deliver on our mission of simplifying finance for all organizations, with many more exciting developments coming soon.”

SiFi obtained the major EMI license from the Saudi Central Bank (SAMA) and has served more than 500 leading Saudi businesses across multiple sectors since its launch in the second quarter (Q2) of 2023. It introduced exclusive technology partnerships, offering over SAR 2 million worth of savings for its customers from leading global platforms like Notion, Airtable, and AWS.