STV has invested in Morni, a tech-enabled automotive services platform in Saudi Arabia, to support its growth and transition toward a Pre-IPO round while enhancing the mobility sector.
Information on the Target
Morni is a Saudi-born, technology-enabled automotive services platform that has evolved from a roadside assistance application into a comprehensive mobility solutions provider in the region. Founded in 2015, Morni addresses essential automotive needs, providing an integrated tech-driven service that spans a vast spectrum of offerings, including roadside assistance, vehicle auctions, third-party insurance administration, and connections to over 75 garages, along with spare parts dismantling and recycling.
The company's dedication to innovation and customer service has positioned it as a leader in Saudi Arabia's automotive sector. Morni's dynamic platform not only serves vehicle owners but also engages insurers, partners, and regulators to enhance the entire vehicle ownership ecosystem.
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Industry Overview in Saudi Arabia
The automotive services industry in Saudi Arabia is witnessing significant transformation, driven by technological advancements and a shift in consumer expectations. With the government’s Vision 2030 initiative, there is a pronounced focus on diversifying the eco
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Disclosed details
Transaction Size: $100M