Cashin, a Saudi fintech platform providing AI-powered financial and operational solutions for the energy sector, has raised SAR 60 million ($16 million) in a Series A round led by Impact46.
Founded in 2021 by Omar Alrammah, Obay AlMadi, and Abdulkarim Zrik, Cashin enables fuel station operators to manage financial and operational processes through a single AI-based platform that links operational and financial systems.
The company's flagship product, Cashin Petro, is a cloud-based retail fuel solution that automates site operations beyond pump management and tank monitoring, offering embedded payments, marketplace integrations, and full ZATCA Phase 2 compliance.
A second product, Tank to Bank, connects fuel inventory control with digital payments and financial systems end-to-end.
Cashin serves local and international operators including Aramco, Total, and Gulf, and has partnerships with stc and a number of Saudi banks. The company was among the first Fatoorah-compliant platforms operating in Saudi Arabia, working with ZATCA on adherence to the Kingdom's digital invoicing requirements.
The new funding will be used to accelerate the digitalisation of power plants and develop analytics and integration technologies with regulatory, operational, and supply chain stakeholders. Cashin previously raised a $1.6M seed round led by Mine Investor, with participation from BIM Ventures and angel investors.
Basmah Alsinaidi, Managing Partner at Impact46, said the reinvestment was a result of the fund's confidence in the team and the sector's growth potential. Alrammah added that the round will contribute to product development, operational expansion, and meeting the evolving needs of the Kingdom's energy sector.
