Morni, a Saudi Arabia-based tech-enabled automotive services platform founded in 2015 by Salman Alsuhaibaney, has received an undisclosed investment from STV, MENA’s largest independent technology venture capital fund, through its newly launched $100 million NICE fund. This funding will support Morni’s transformation from a roadside assistance provider into a comprehensive automotive ecosystem covering auctions, insurance third-party administration (TPA), garages, and parts recycling.
Morni recently expanded into the UAE market and grown its digitally connected garage network to 75 facilities across Saudi Arabia. The company has also made strategic leadership hires and doubled its workforce to fuel regional growth.
Salman Alsuhaibaney, Morni’s Chairman and CEO, emphasized the company’s tech-driven approach, noting a 5-minute first notification of loss (FNOL) response time as a key impact. He highlighted STV’s support in enabling scalable execution aligned with Saudi Vision 2030’s goals of enhancing road safety and quality of life.
STV’s Abdulrahman Alageel praised Morni’s mission to build an integrated automotive value chain that improves the car ownership experience by addressing inefficiencies in a traditionally fragmented sector.
This partnership underscores growing investor interest in integrated, tech-enabled mobility platforms across MENA, aiming to create a connected and sustainable future for the region’s automotive services.
