T2 Acquires Majority Stake in Moola to Enter Fintech Market

T2, a prominent technology services and solutions provider in Saudi Arabia, has acquired a majority stake in the startup Moola, a move announced at the LEAP25 tech event. This strategic acquisition is set to propel T2 into the burgeoning fintech market, diversifying its service offerings both within Saudi Arabia and internationally. Moola, founded in 2022 by Waseem Hammoud, specializes in expense management solutions, such as corporate business cards, that facilitate efficient financial process automation for businesses. With this acquisition, T2 aims to empower its clients with enhanced financial capabilities as it aligns with their ambitious strategy to incorporate innovative tech products. Simultaneously, Moola anticipates leveraging T2's resources to strengthen its platform and expand its market reach.