Metric, an AI-driven fintech startup, has successfully raised a seven-figure seed round aimed at expanding its presence across the Gulf region and Asia. While the company has not disclosed the exact amount of the investment, it confirmed participation from some of the most prominent venture firms and angel investors across the region. Sanabil 500 Global, Hub71, i2i Ventures, Plus VC, Epic Angels, and Accelerate Prosperity, along with notable GCC-based angel investors, were among the key backers of the funding round.
Founded in 2022 by the Pakistani duo Meenah Tariq and Omar Parvez, alongside the company’s Chief Technology Officer (CTO) Dr. Habiba, Metric is positioning itself as a disruptor in the fintech landscape. The company has introduced a groundbreaking innovation to the market: the world’s first “Chief Financial AI” named Max. Unlike traditional bots, Max acts as a “business co-pilot” rather than just an automated assistant, offering business owners deep insights into their financial data and providing personalized advice to optimize financial management.
CEO Meenah Tariq emphasized that Max leverages cutting-edge artificial intelligence to deliver tailored financial insights to business owners. Built on a robust dataset worth $4 billion in proprietary transactional data, Max analyzes spending patterns, identifies growth opportunities, and provides actionable recommendations that surpass the capabilities of traditional accounting software. “Max is not just a bot; it’s a powerful micro-advisor for business owners, empowering them to make data-driven decisions that lead to sustainable financial success,” said Dr. Habiba, Metric’s CTO.
Available in both English and Arabic, Metric’s web app and the Chief Financial AI are already being used by over 130,000 businesses across 190 countries. The app aims to demystify accounting and financial processes for small and medium-sized enterprises (SMEs) by offering accessible and actionable financial insights. Tariq added that the app’s success is a direct result of the company’s dedication to increasing access to financial products, such as business debit cards, through its marketplace of services.
The seed funding will enable Metric to further scale its operations, focusing on two primary objectives: expanding the reach of its Chief Financial AI in the MENAP (Middle East, North Africa, Afghanistan, and Pakistan) region and enhancing the offerings in its fintech marketplace. Tariq explained that the company intends to deepen its presence in the MENAP region, with a particular emphasis on the UAE as its initial market before expanding into other MENA markets. “We are building from the GCC, for the world,” she said, reflecting the company’s broader ambitions for global growth.
In addition to enhancing the AI-powered solutions offered to businesses, Metric aims to broaden its suite of financial products, offering more tailored financing options and improving access to growth opportunities for business owners. Tariq emphasized that the company is committed to helping businesses unlock their full potential by simplifying financial management and enabling more efficient access to capital.
Metric’s journey has been marked by rapid growth and substantial traction in a relatively short time. The company raised $900,000 in pre-seed funding in March 2023, an oversubscribed round that demonstrated strong investor confidence in the company’s vision. The success of the seed round, and the subsequent strategic scaling efforts, reinforce Metric’s commitment to revolutionizing the way businesses manage and optimize their finances.
As it moves forward, Metric plans to continue enhancing its product offerings and providing more value to business owners. The company’s goal is not only to improve financial literacy and access but also to foster an ecosystem where businesses can thrive by leveraging AI-driven financial tools that were previously inaccessible or too complex for the average entrepreneur. With the backing of prominent investors and a rapidly expanding user base, Metric is poised to become a leading player in the fintech space, bringing transformative financial solutions to underserved regions and helping to build a more inclusive and sustainable financial ecosystem.
