Madfu provides digital payment solutions tailored for businesses in the MENA region. The platform enables merchants to generate secure payment links and invoices for seamless online and in-person transactions. This service simplifies accounts receivable management and accelerates cash flow for enterprises.
Funding
$3.2M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Many consumers in Saudi Arabia face financial constraints that limit their purchasing power, especially when needing to acquire essential goods and services. Traditional financing options may involve interest or hidden fees, conflicting with Islamic finance principles and creating barriers for some individuals. This can lead to a reduced ability to manage expenses effectively and participate fully in the economy.
Solution
Madfu provides a "buy now, pay later" (BNPL) service that enables users to make purchases and split the cost into multiple installments without interest or hidden fees, adhering to Sharia compliance. Through the Madfu app, customers can shop at partner retailers and service providers, deferring payments over a defined period. This allows consumers to acquire needed items while managing their cash flow more effectively. Madfu integrates directly with merchants, offering them access to a broader customer base and increased sales by providing flexible payment options.
Target Audience
Madfu primarily targets consumers in Saudi Arabia seeking flexible payment options that align with Islamic finance principles, as well as retailers looking to expand their customer base and increase sales through BNPL solutions.
Features
- Payment splitting into up to 6 interest-free installments.
- Sharia-compliant financing with no hidden fees, interest, or late payment penalties.
- Mobile application for account management, purchase tracking, and payment scheduling.
- Integration with a network of partner retailers across various categories, including electronics, fashion, home goods, and travel.
- Cashback rewards and exclusive discounts for Madfu users.
- SAMA-regulated and secure platform ensuring transaction safety.
- Spending tracker to help users monitor and manage their finances.
- Fast and simple approval process for new users.