Saudi fintech CASHIN raises $16 million Series A led by Impact46
- Saudi Arabia-based fintech CASHIN has raised $16 million (SAR 60 million) in a Series A round led by Impact46.
- Founded in 2021 by Omar Alrammah, Abdulkarim Zrik, and Obay AlMadi, CASHIN provides an AI-enabled unified platform that connects financial and operational activities for fuel station operators, integrating pumps, tanks, payments, and auxiliary services into a centralised system.
- In 2021, CashIn secured $1.6 million in a seed round led by Investor Mine with the participation of BIM Ventures and several angel investors.
- The company will deploy the funding to expand fuel station networks across Saudi Arabia, enhance AI and advanced analytics capabilities, and deepen integrations with regulators, suppliers, vehicle operators, and banking institutions.
Press release:
CASHIN, a Saudi fintech platform specialised in the energy sector, has announced the closing of a SAR 60 million “Series A” investment round led by Impact46. The round reflects growing confidence in CASHIN’s role in advancing the digital infrastructure of fuel stations and energy across the Kingdom.
CASHIN is the first fintech platform specialising in the energy sector in Saudi Arabia. Founded by Omar Alrammah, Abdulkarim Zrik, and Obay AlMadi, the platform was designed from the outset to enable fuel station operators to manage their financial and operational activities through a unified digital system, supported by an AI core capable of understanding real-time data and translating it into more efficient and accurate operational decisions.
CASHIN connects financial flows with operational processes across various station facilities, including fuel services, pumps, tanks, payments, and auxiliary service centres. The platform provides a centralised view that helps station operators improve performance, enhance operational governance, and support continuity of operations and supply safety across their branch networks. The platform serves a select group of leading brands in the sector, including Saudi Aramco, Total, and Gulf, in addition to a network of strategic partners that includes STC, Al Rajhi Bank, SNB, and SABB, reflecting the platform’s reliability and adoption by leading market players.
The Series A investment round will support the growth of fuel station branch networks operating across the Kingdom, expand AI and advanced analytics capabilities, and enhance integration with ecosystem stakeholders, including regulators, vehicle operators and owners, suppliers, and the banking sector.
Over the past period, CASHIN has successfully expanded through a growing network of fuel stations across various regions of Saudi Arabia, processed transactions exceeding SAR 20 billion, and built a unified technology infrastructure to manage financial and operational activities from a single centralised platform. The company has also developed intelligent analytical capabilities that support more proactive operational decision-making in collaboration with strategic partners across the energy and financial ecosystems. CASHIN currently holds a significant share of the market, making it the largest player in its field within the fuel station and energy sector in the Kingdom.
Basmah Alsinaidi, Vice Chairman and Managing Partner at Impact46, said:
“CASHIN represents a strong example of a Saudi company developing technology solutions derived from real operational needs. Our decision to reinvest reflects our confidence in the team’s continued execution, clarity of vision, and the progress achieved in building products that support the modernisation of a vital sector in the local economy. We look forward to continuing our partnership with CASHIN in its next phase of growth.”
Omar Alrammah, CEO of CASHIN, added:
“We founded CASHIN to address challenges we experienced directly in the market. This investment round allows us to enhance our investments in products, expand our operations, and continue supporting and enabling fuel and energy station operators while ensuring supply safety through technology designed specifically for their operational realities.”
The proceeds from the round will be deployed to support CASHIN’s next growth phase, reaffirming the company’s commitment to building a trusted fintech platform that serves as a long-term digital foundation supporting operational efficiency, sustainable growth, and enablement within Saudi Arabia’s fuel station and energy sector.