# Malaa | ملاءة

> Malaa (ملاءة) is a Riyadh-based fintech that became Saudi Arabia's first licensed open banking product. Its consumer app lets people link all their bank accounts in one place, track spending, and invest in Shariah-compliant, professionally managed portfolios at what it says is the lowest management fee in the Kingdom. Founded in 2020-2021 by Ali Alorainy and Faisal Alqarni, Malaa is regulated by both the Saudi Central Bank (SAMA) and the Capital Market Authority (CMA), and raised a $17.3M Series A in 2024 led by SNB Capital.

- **Founded:** 2020
- **Headquarters:** Riyadh, Saudi Arabia
- **Founders:** Ali Alorainy (Co-Founder & CEO), Faisal Alqarni (Co-Founder & Chief Strategy Officer)
- **Team size:** ~53 employees
- **Products:** Malaa App (Track, Save & Invest), Open Banking Account Aggregation, Managed Investment Portfolios, Financial Planning & Retirement Tools
- **Notable:** First fintech to receive an open banking permit and deploy live from the Saudi Central Bank (SAMA) sandbox., Reported 640,000+ users on its money-tracking and investing app., Raised $17.3M Series A in 2024 led by SNB Capital, the Kingdom's largest asset manager.

## Products & services

- **Malaa App (Track, Save & Invest)** — Consumer mobile app that links multiple bank accounts via open banking, automatically categorizes expenses, and analyzes income and spending.
- **Open Banking Account Aggregation** — First licensed open banking product in Saudi Arabia, letting users connect and view all their bank accounts in a single dashboard.
- **Managed Investment Portfolios** — Five diversified, Shariah-compliant portfolios (from Cash Back and Safe through Balanced to High and Very High risk) built via a risk-tolerance quiz, at a stated 0.35% annual management fee.
- **Financial Planning & Retirement Tools** — Personalized retirement planning, goal tracking, and a 15-year investment projection calculator.

## Achievements

- First fintech to receive an open banking permit and deploy live from the Saudi Central Bank (SAMA) sandbox.
- Reported 640,000+ users on its money-tracking and investing app.
- Raised $17.3M Series A in 2024 led by SNB Capital, the Kingdom's largest asset manager.
- First to complete integration with Arab National Bank's systems for direct open banking account linking.
- Investments certified Shariah-compliant by the Shariyah Review Bureau; regulated by both SAMA and the CMA.
- States the lowest annual management fee in Saudi Arabia at 0.35%.

## Latest updates

- **2024-09** — Closed $17.3M Series A led by SNB Capital with Derayah Financial, Khwarizmi Ventures, Impact46 and WKN, to launch new investment and savings products.
- **2022-03** — Raised $1.7M seed round from regional investors.
- **2022** — Became Saudi Arabia's first open banking product and partnered with SNB Capital; integrated with Arab National Bank.

## Links

- Website: https://malaa.tech
- LinkedIn: https://www.linkedin.com/company/malaatech/
- Twitter/X: https://twitter.com/malaa_tech
- Instagram: https://www.instagram.com/malaa_tech
- Facebook: https://facebook.com/people/Malaa-%D9%85%D9%84%D8%A7%D8%A1%D8%A9/100086359437045/
- TikTok: https://www.tiktok.com/@malaa_tech

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Profile page: https://yespress.io/malaa
Published by YesPress — https://yespress.io
Last updated: 2026-07-27