Tamweel Pay

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Proceed: lead the Series A at $8.0M ($52M pre, $60M post) for 13.3% fully diluted, with one board seat, conditional on licence clearance before wiring.

Deal snapshot

Thesis

1. The KSA SME payments gap is real and monetisable. 2. Founder–market fit is a durable edge. 3. Payments data unlocks a defensible lending layer, which is the upside that must be proven.

Financials, fund's adjusted case

Founder plan over-states revenue by about 60%. On our case: Year-5 revenue $125M, gross margin 54%, runway 13 months. Adjustments: take rate 2.1% to 1.6%, growth haircut, 6% loan-loss provision.

Scenarios and returns

Open items carried to IC

Decision and votes