Empowering Financial Wellness & Guiding Growth With Trust and Technology
In a world where managing money still feels complicated for many, a bold idea was born in Saudi Arabia. In December 2021, Ali Aloraini and Faisal Alqarni launched Malaa with a clear mission: to make personal finance smarter, simpler, and more empowering. They envisioned a future where anyone could take control of their financial journey. By leveraging AI, data, and a strong focus on user experience, Malaa is changing the rules of money management and opening the door to a more confident, financially independent generation.
Igniting Financial Clarity
Malaa’s origin story began in 2021 with a simple yet powerful idea: helping people truly understand their financial capital. Initially designed as a Personal Financial Management solution to track spending and identify investable income, it quickly evolved into a platform that enables users to take control of their financial situation and invest in various funds. With a smooth expansion from open banking to an integrated investing platform, Malaa didn’t just provide insights; it offered action.
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As an infrastructure for modern Saudi investors, Malaa helps users understand their spending, monitor their liquidity, and then seamlessly invest in curated financial products. Their exclusive access to funds and fintech partnerships positions them not just as a budgeting tool but as a gateway to wealth-building.
Faisal & Ali at Khwarizmi HQ
June 2022
Malaa first office
Nov 2022
Spotting the Signal: Why Khwarizmi Backed Malaa
In December 2020, early in Malaa’s Journey, the product was in its earliest stages, with no users yet, but the vision was compelling, and the team demonstrated a deep understanding of Fintech infrastructure. Later, Malaa secured three banking agreements, positioning itself at the forefront of open banking in Saudi Arabia, and was accepted into the SAMA Sandbox, signalling regulatory readiness and strong institutional alignment.
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Recognizing their momentum and the scale of their ambition, we committed to backing Malaa at the pre-seed stage. We supported Malaa closely by co-leading their bridge round alongside Derayah Financial. This milestone validated Malaa’s model and signalled strong institutional confidence and broad market interest.
Strategic Partnership: The Growth Journey Begins.
Building on this momentum, we introduced Malaa to SNB Capital, one of the Kingdom’s leading financial institutions. At the time, SNB was actively exploring opportunities in emerging FinTech, and after meeting the founders, they quickly recognized the same potential we had identified from the outset. This strategic relationship quickly evolved into a key partnership in Malaa’s journey.
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SNB led its Series A round, significantly expanding its AUM base and accelerating market traction. We were deeply involved at every step, from introducing the opportunity to shaping the conversation, negotiating terms, and driving the deal to completion. Our involvement ensured the partnership came together smoothly and positioned Malaa for its next stage of growth.
Malaa & SNB MoU
February 2024
Looking Ahead:
From Insights to Credit
With a solid foundation in place, Malaa is preparing for its next transformative phase: credit. The team is developing lending products that align with users’ financial behaviours and goals, unlocking a natural extension of what began with PFM. By leveraging the rich financial insights they’ve already built, Malaa is uniquely positioned to introduce personalized, responsible credit that adapts to each user’s profile.
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What makes this evolution powerful is the convergence of both sides of a user’s financial life, understanding money and accessing money, on a single platform. By linking credit to PFM, Malaa is moving toward a complete financial experience: a single ecosystem that guides users from awareness to action to empowerment.
Malaa “Obligations” product teaser
