T2 Acquires Saudi Startup Moola to Enter Fintech Market
Deal News | Feb 11, 2025 | Zawya
T2, a prominent Saudi technology services provider, announced from the LEAP25 event its acquisition of a majority stake in the e-startup platform Moola. This strategic move marks T2's entry into the fintech market, broadening its service offerings to include comprehensive expense management solutions. By acquiring Moola, which was founded in 2022 by Waseem Hammoud, T2 aims to empower its clientele with enhanced financial capabilities. Moola specializes in facilitating efficient expense management and financial process automation, offering products like corporate business cards. This acquisition aligns with T2's expansion strategy, underscoring their commitment to advancing exceptional technology solutions that better serve their partners and clients.
Sectors
- Technology Services
- Fintech
Geography
- Saudi Arabia – Both T2 and Moola are based in Saudi Arabia, which is the primary geography of this transaction.
Industry
- Technology Services – T2 is a technology services and solutions provider, indicating involvement in the Technology Services industry.
- Fintech – The acquisition of Moola, a financial technology platform, places the activities within the Fintech industry.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| T2 | Bidding Company | Company | A leading Saudi technology services and solutions provider acquiring Moola. |
| Moola | Target Company | Company | A Saudi startup providing an expense management platform, recently acquired by T2. |
| Waseem Hammoud | CEO & Founder of Moola | Person | Founder of Moola, providing insight on the partnership with T2. |