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AMMAN — Mada, a digital Buy Now, Pay Later (BNPL) provider, announced the closing of a $1.55 million "pre-seed" funding round led by 50 per cent by Saudi Vision Ventures and 50 per cent by Lebanese D-Investments.
Mada signed four Memorandum of Understanding (MoU) last week on the sideline of the FinTech Festival held in Amman, and four companies from private sectors; JKB pay, U wallets, Get to Pay, and Energy Digital Media.
The investments aims to accelerate Mada’s product development, strengthen its technology infrastructure and support its ambition to become a "leader" in the digital payments ecosystem, according to Mada statement.
Mada brings together financial expertise and technology innovation. The company is among the early participants in the Jordan Regulatory Sandbox (JoRegBox), under the supervision of the Central Bank of Jordan (CBJ).
Mada is currently in the Minimum Viable Product (MVP) testing phase within the Sandbox environment. Upon successful graduation, the product will be licensed, regulated and launched commercially. Previously operating through "traditional" BNPL contracts, Mada has now shifted its focus to building a "fully" digital BNPL platform.
The service enables consumers to split purchases into simple, interest-free installments with no hidden fees, while merchants benefit from improved sales conversions and higher average basket sizes.The digital product remains under testing, meaning Mada is not yet operating commercially through the application.
To date, Mada has partnered with over 140 merchants and served more than 2,500 consumers through its traditional BNPL offerings. These learnings, combined with the Sandbox pilot, are shaping its digital-first model, according to Mada.
Founder and CEO of Mada, Mohammad Merie said "At Mada, we are building more than a payment tool—we are creating a financial engine for digital prosperity. Our mission is to empower consumers to better manage their income while enabling merchants to unlock sustainable growth."
He added that "By progressing through the Jordan Regulatory Sandbox, we ensure our solution is tested, validated, and future-ready for regulated launch. This is only the beginning of Mada’s journey to become one of the region’s most trusted digital payment platforms."
Co-Founder of Mada, Issa Ramadan noted that "Fintech innovation must balance vision with responsibility. Advancing through the Jordan Regulatory Sandbox allows us to refine the customer journey in a controlled environment before scaling to the wider market."
He said that "Mada is designed to be more than a BNPL service, it is a catalyst for greater financial inclusion and a transparent digital economy."
Founding Partner and CEO of Vision Ventures, Qais Al Essa said "We are always committed to supporting innovation and empowering communities."
He added that "Our investment in Mada reflects our confidence in the growth of the digital BNPL sector in Jordan, following our successful experience with Tamara in Saudi Arabia. We see the same potential unfolding here in Jordan and the region."
CEO of D-Investments, Hasan Danash said "At D-Investments, we look for ventures that combine innovation with the potential to deliver real economic value."
He added "Mada embodies this balance by addressing a clear market need with a scalable and transparent BNPL model. We believe Mada is well positioned to become a key player in the digital payments space, driving both consumer empowerment and merchant growth across the region."
COO of D-Investments, Ali Danash said "Mada combines innovation with strong execution, offering a BNPL model that is transparent, scalable, and built for regional growth. By empowering consumers and strengthening merchants, Mada is positioned to become a trusted leader in digital payments."
Mada's vision extends beyond Jordan, with plans to expand into new regional markets and deliver transparent, accessible and technology-driven BNPL solutions.
The company remains focused on empowering consumers and merchants alike, while advancing financial inclusion and accelerating digital adoption across the region.
