Saudi tech venture capital firm STV has made a strategic investment in Morni, a Riyadh-based automotive services platform, through its newly launched $100 million NICE fund. This marks a pivotal moment for both Morni and the region’s growing mobility tech sector.
While the investment amount remains undisclosed, the partnership signals STV’s confidence in Morni’s mission to build a fully integrated, tech-enabled automotive ecosystem in Saudi Arabia and beyond.
Morni: From Roadside Help to Full-Scale Mobility Platform
Founded in 2015 by Salman Alsuhaibaney, Morni began as a digital platform offering roadside assistance. Since then, it has rapidly evolved into a multi-vertical mobility player, now offering:
- ✅ Vehicle roadside assistance
- ✅ Car auctions and resale services
- ✅ Insurance TPA (third-party administration)
- ✅ Digitally connected garage network
- ✅ Spare parts recycling and dismantling
Morni aims to cover the entire vehicle ownership lifecycle with a tech-first approach, improving both convenience and efficiency for customers and partners.
Backed by STV’s New NICE Fund
STV’s investment is the first publicly announced deal from its NICE fund, a $100 million vehicle launched to back innovation in critical, tech-led sectors.
According to Abdulrahman Alageel of STV:
“Morni is building infrastructure for a truly integrated automotive journey. We see it as a key player in reshaping a traditionally inefficient sector.”
STV’s support will help Morni accelerate execution while maintaining strategic flexibility, a key feature of the NICE investment structure.
Recent Milestones Fueling Growth
Morni’s momentum is supported by several key achievements:
- ✅ Launched operations in the UAE
- ✅ Expanded garage network to 75 locations across Saudi Arabia
- ✅ Doubled its workforce to support scaling across the region
- ✅ Reduced insurance FNOL (First Notification of Loss) time to just 5 minutes
With its dedicated technology hub, Morni continues to innovate, offering seamless solutions to drivers, insurers, and mobility partners.
Aligning with Vision 2030
For CEO Salman Alsuhaibaney, this partnership is about scale, speed, and national impact.
“This partnership with STV comes at a defining moment. We’re not just scaling Morni, we’re contributing to Vision 2030’s goals for safer roads and a better quality of life.”
By aligning its services with the Kingdom’s long-term vision, Morni positions itself as a strategic enabler of smarter, safer, and more sustainable transportation.
A Growing Appetite for Mobility Innovation
The deal reflects a wider investor interest in mobility startups that can fix fragmentation in traditional automotive services. In a region where innovation is accelerating, Morni’s integrated model offers a blueprint for tech-driven, end-to-end automotive solutions.