Saudi fintech lite secures $3.2m in pre-seed funding

Co-founders of lite Fahad Anteet, Mohamed Faheem, and Soliman Aldukhil.
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Updated 27 February 2025
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Saudi fintech lite secures $3.2m in pre-seed funding

Saudi-based fintech startup lite has announced the successful closure of its pre-seed funding round, raising a total of $3.2 million. The round was led by Scene Holding, with participation from prominent angel investors, marking a significant milestone in lite’s journey to redefine the payments ecosystem for businesses in Saudi Arabia.

Established by three seasoned co-founders with vast experience in payments — Fahad Anteet, Mohamed Faheem, and Soliman Aldukhil — lite is on a mission to become the leading payment solutions provider in the Saudi market, offering businesses a full-fledged suite of financial services to meet all their payment needs. With a strong focus on innovation, scalability, and localization, lite is committed to driving financial inclusion and enhancing the efficiency of payment ecosystems in the Kingdom. This is in line with Saudi Vision 2030’s goals of accelerating digital transformation and promoting a less-cash society.

Currently, lite is in the process of obtaining an electronic money institution license from the Saudi Central Bank, which will enable the company to fully operate and deliver its comprehensive suite of payment solutions to businesses across the Kingdom.

“We are deeply grateful to our investors for their trust in our vision and to the Saudi Central Bank, Fintech Saudi, and key ecosystem enablers for their support in fostering fintech innovation. This funding marks a major step forward in our mission to provide businesses with seamless, secure, and scalable payment solutions tailored to the Saudi market,” said Anteet, CEO of lite. “As we work toward obtaining our EMI license, we remain committed to innovation, compliance, and localization — empowering businesses and accelerating the shift toward a digital, less-cash economy in alignment with Vision 2030.”

“We are thrilled to support lite on its journey to reshape the payments ecosystem in Saudi Arabia,” said Sultan Ghaznawi, chairman and managing director, Scene Holding “The founding team’s expertise, vision, and commitment to innovation align perfectly with our investment philosophy at Scene Holding.” 

We believe lite has the potential to drive meaningful impact in the fintech sector, empowering businesses and contributing to the Kingdom’s digital transformation goals.”


Dhahran Mall celebrates community through Sharqiyah International Race, launches Al-Tajdeed initiative

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Dhahran Mall celebrates community through Sharqiyah International Race, launches Al-Tajdeed initiative

For nearly two decades, Dhahran Mall has served as a gathering place where families create memories, communities come together, and generations celebrate life’s milestones in the Eastern Province. This commitment to community was reaffirmed this past weekend as Dhahran Mall served as the golden sponsor of the 27th Sharqiyah International Race, continuing the community engagement that has always defined the mall’s identity.

Held along Alkhobar Corniche on Dec. 13, under the patronage of Eastern Province Gov. Prince Saud bin Nayef, the race brought together approximately 10,000 participants from across the Kingdom and beyond. In the days leading up to the event, Dhahran Mall hosted the official race kit distribution, welcoming an average of 2,000 runners daily over three days.

Demonstrating its commitment to inclusivity, Dhahran Mall partnered with Swaed Association for Physical Disability in the Eastern Province for a meaningful activation on Dec. 11. The event invited community members to experience wheelchair mobility firsthand, developing empathy and understanding. Persons with disabilities participated in a symbolic race from Gate 1 to Gate 3, joined by one of Saudi Arabia’s handball champions, reinforcing the message that sports and wellness unite everyone. Participants shared powerful reflections on accessibility and the importance of physical activity for all community members.

These initiatives embody what Dhahran Mall has always stood for: creating moments that resonate beyond the transaction, developing connections that endure, and serving as a cornerstone where every member of the community is welcomed and celebrated. Through programs that champion inclusivity, health, and social well-being, Dhahran Mall continues to demonstrate that meaningful engagement and authentic relationships are at the heart of everything it does.

Al-Tajdeed: Elevating guests’ experiences

This spirit of renewal and recommitment extends to Al-Tajdeed, Dhahran Mall’s comprehensive refresh initiative that began in December and will continue throughout 2026. Al-Tajdeed, meaning “renewal” in Arabic, honors the mall’s legacy while preparing for its future. This initiative will enhance guest experiences, elevate the aesthetic environment, and reinforce Dhahran Mall’s role as the Eastern Province’s premier destination for meaningful retail and lifestyle experiences. Looking ahead, the planned Dhahran Boulevard expansion will further enrich the mixed-use environment, creating new dimensions of hospitality, community, and connection.

“At Dhahran Mall, we believe that true success is measured in the memories we help create and the communities we serve,” said Majed Algothmi, acting CEO. “Our sponsorship of the Sharqiyah International Race and our partnership with Swaed Association reflect our unwavering commitment to inclusivity and community engagement. For nearly 20 years, families from all walks of life have trusted us with their celebrations, their everyday moments, and their special occasions. Al-Tajdeed is our promise to honor that trust by renewing our spaces while staying true to the values that have made Dhahran Mall a beloved institution in the Eastern Province.”

Since opening its doors in 2005, Dhahran Mall has been woven into the fabric of the Eastern Province. It has witnessed first steps in its corridors, celebrated countless Eid celebrations, hosted family traditions, and served as a backdrop for the everyday moments that define a community. Al-Tajdeed honors this rich legacy, built on genuine relationships and meaningful connections that span generations.

Dhahran Mall’s enduring strength lies in authentic connection. It’s the warmth of familiar spaces, the trust built over the years, and the understanding that a mall’s true value lives in how deeply it integrates into the lives of the people it serves. As the Eastern Province continues to grow and transform, Dhahran Mall remains committed to being the destination where community comes first, where memories are made, and where every visit feels like coming home.