MUHIDE
MUHIDE is a Saudi Arabia-based fintech platform that authenticates and governs B2B trade transactions using blockchain smart contracts, delivery assurance tools, and ERP integrations, serving buyers, sellers, banks, and government entities with tiered seller subscriptions and free buyer access.
- Company typePrivate
- Founded2023
- HeadquartersJeddah, Saudi Arabia
- Headcount11–50
- GTM typeB2B
- OfferingSoftware
What MUHIDE does
MUHIDE, operated by RATL Technology Ltd., is a Saudi Arabia-based fintech platform founded in 2023 in Jeddah that authenticates, governs, and digitizes business-to-business trade transactions within the Kingdom. The platform serves buyers, sellers, banks and financiers, and government entities, converting trade documents into immutable Ethereum-based smart contracts, integrating with Saudi government identity systems (Wathq and Nafath), and providing delivery assurance, invoice discounting, and trade financing facilitation. It is positioned as a national platform aligned with KSA Vision 2030 and the Saudi Electronic Transactions System (Royal Decree M/18), and is ISO 27001 certified.
The underlying technology stack combines Ethereum smart contracts, Google Cloud infrastructure hosted in Saudi Arabia, and the OutSystems low-code platform. Proprietary components include the Delivery Assurance Protocol (photo uploads, video conferencing, live streaming, location sharing, delivery tracking through iOS/Android mobile apps) and automated document generation from request for quotation through commercial invoice, with ERP integration across SAP, REST, and SOAP. Buyer and seller onboarding runs through a self-serve web portal that authenticates companies via Wathq and verifies signatories via Nafath.
MUHIDE employs a hybrid go-to-market motion: free product-led registration for buyers drives network growth, while sellers subscribe to tiered annual plans ranging from Growth (SAR 4,750/year, 2 users, 50 invoices) to Elite (SAR 28,800/year, 10 users, 480 invoices), plus an Enterprise tier with custom pricing, dedicated relationship management, and tailored financing terms. Usage-based fees apply for additional invoices and seats, and trade credit insurance is offered through a partnership with NASCO. The company closed a Series A funding round in February 2026 led by Asyad Group at a significant undisclosed valuation to expand the team and build what it describes as Saudi Arabia's first unified trade ecosystem.
MUHIDE firmographics
Firmographics- Name
- MUHIDE
- Legal name
- RATL Technology Ltd.
- Website
- https://muhide.com
- Company type
- Private
- Founded year
- 2023
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- MUHIDE is a Saudi Arabia-based fintech platform that authenticates and governs B2B trade transactions using blockchain smart contracts, delivery assurance tools, and ERP integrations, serving buyers, sellers, banks, and government entities with tiered seller subscriptions and free buyer access.
- Ownership category
- akta.pro rank
MUHIDE industry classification
Industry- Product category
- B2B Trade Digitization & Governance Platform
- NAICS
- Wholesale Trade Agents and Brokers (4251), Securities and Commodity Exchanges (523210)
- SIC
- Security & Commodity Brokers, Dealers, Exchanges & Services (6200)
- akta.pro primary industry
- Trade Finance & Receivables Tokenization (FSADAEAG)
- akta.pro secondary industries
- Supply Chain & Inventory/Warehouse Receipt Tokenization (FSADAEAH), Smart Contract Wallets / Account Abstraction (MPC/AA, social recovery, paymasters) (FSAPACAB), Digital Wallet Infrastructure (Tokenization, Wallet-as-a-Service) (FSAMAEAI)
Keywords
Where MUHIDE is headquartered
LocationHeadquarters
- HQ city
- Jeddah
- HQ country
- Saudi Arabia
- HQ region
- Middle East
Offices1 record
Markets served
MUHIDE business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Marketing or Sales, Infrastructure, Operations
Revenue model
- Subscription Fees (Sellers): Tiered annual subscription plans for sellers with varying user seats and invoice allocations. Sellers pay for platform access while buyers receive free access to facilitate trade network growth.
- Extra Invoice Fees: Additional fees per invoice beyond the included allocation in each tier (ranging from 60-195 SAR per extra invoice depending on plan)
- Additional User Seats: Per-user pricing for seats beyond the tier allocation (150 SAR per additional user for Growth tier)
- Trade Credit Insurance: Partnership with NASCO for commercial credit insurance services accessible to platform customers
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Annual | Growth - Startup & Micro businesses: 2 users, 50 invoices/year |
| Subscription | Annual | Essential - Small companies: 4 users, 120 invoices/year |
| Subscription | Annual | Pro - Scaling companies: 6 users, 240 invoices/year |
| Subscription | Annual | Elite - Advanced companies: 10 users, 480 invoices/year |
| Subscription | Multi-year contract | Enterprise - Enterprise leaders: Unlimited users and invoices, custom pricing |
Go-to-market motion2 records
Distribution channels4 records
Marketing channels8 records
MUHIDE product offering
Product offeringCore offering
MUHIDE operates a unified B2B trade ecosystem platform that authenticates and governs trade relationships between buyers and sellers in Saudi Arabia. The platform converts trade documents (from RFQ through commercial invoice) into immutable smart contracts using blockchain technology, provides delivery assurance tools, and integrates with Wathq and Nafath for identity verification. Sellers subscribe to tiered plans while buyers access the platform for free, with financing partners (banks, insurers) integrated into the ecosystem.
Product overview
MUHIDE is a unified B2B trade ecosystem platform owned and operated by RATL Technology Ltd. in Saudi Arabia. The platform provides a single integrated solution that combines supply chain management, legal framework, analytics, budgeting, delivery assurance, authentication, and smart contracts to authenticate and govern trade relationships between buyers and sellers. The core MUHIDE Platform serves as the foundation, with specialized modules for Sellers and Buyers, supported by a mobile application for delivery assurance. The platform offers tiered subscription plans (Growth, Essential, Pro, Elite, Enterprise) with varying feature sets, plus separate registration portals for buyers and sellers. Trade documents are digitized and converted to immutable smart contracts using blockchain technology, with data stored on Google Cloud in Saudi Arabia.
Differentiator
Problem solved
Functional benefit
Products and services
- MUHIDE Platform Unified B2B trade ecosystem that authenticates and governs trade relationships between buyers and sellers in Saudi Arabia. Provides supply chain management, legal framework, analytics, budgeting, delivery assurance, authentication, and smart contracts in a single platform.
- MUHIDE for Sellers Seller-focused solution enabling protection of payments, invoice discounting, transaction with genuine buyers, and access to financing partners. Includes user-friendly process management, secure transactions via Wathq integration, and legal protection tools.
- MUHIDE for Buyers Buyer-focused solution enabling collaboration with verified sellers, digital transaction management, pay-on-delivery functionality, and free procure-to-pay system. Includes budget optimization, rights protection, and financing access.
- MUHIDE Mobile App Mobile application for Android and iOS that supports the delivery process. Used by both buyers and sellers to manage and streamline receiving and delivery processes with digital inspection tools including photo uploads, video conferencing, and live inspection capabilities.
- Seller Registration Portal Web-based registration portal for sellers to join the MUHIDE platform. Uses Wathq digital services for authentication via National Unified Number verification.
- Buyer Registration Portal Web-based registration portal for buyers to join the MUHIDE platform. Uses Wathq digital services for authentication via National Unified Number verification.
Quantifiable outcome
- Effective invoice cost reduction up to 70% (from 195 SAR to 60 SAR per invoice) with higher tier plans
- +2 more outcomes
Companies that use MUHIDE
Customer profileNamed customers13 records
Segments5 records
Ideal customer profiles5 records
MUHIDE technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration7 records
AI capability5 records
Feature5 records
MUHIDE partnerships and signals
Strategic signalPartnerships
14 partnerships are on record, tiered flagship, core and minor.
- SEDCO CapitalflagshipStrategic cooperation agreement to develop digital governance ecosystem in the real estate investment sector. SEDCO Capital manages assets exceeding 51.8 billion SAR and is licensed by CMA. Partnership provides governance, transparency, and digital audit trails for investment transactions.
- SGScorePartnership with SGS, the world leader in testing, inspection, and certification, to provide verification, inspection, and certification services to MUHIDE customers. SGS offers 'Certified Golden Supplier' designation for platform vendors, enhancing credibility and expanding sales opportunities.
- NASCO (Arabian Saudi Insurance Company)coreStrategic agreement enabling MUHIDE customers to access trade credit insurance through NASCO's network of insurance partners. Insurance serves as additional protection against buyer default risk and can be used as collateral for favorable financing terms.
- Ministry of Environment, Water and Agriculture (MEWA)flagshipMoU to empower the non-profit sector. MUHIDE serves as strategic partner for developing non-profit organizations supervised by MEWA, providing digital solutions for governance of fund disbursements to end beneficiaries.
- Tarmeem for DevelopmentminorStrategic partnership to enhance governance and transparency in the non-profit sector. Tarmeem, the first Saudi association specializing in home renovation for underprivileged families, will use MUHIDE's digital solutions to digitize supplier and contractor relationships.
- Taajeer FinancecoreStrategic collaboration to strengthen SME trade governance and access to finance. Combines MUHIDE's digital trade ecosystem with Taajeer's Islamic-compliant financing solutions, providing liquidity solutions, government-supported SME programs, and flexible repayment plans.
- Collected (Abdul Latif Jameel)coreStrategic cooperation between Collected (debt collection subsidiary) and MUHIDE to enhance governance and improve debt collection efficiency. Collected brings 25+ years of experience in Saudi market with network coverage across all regions.
- SAB (Saudi Alawwal Bank)coreInnovation cooperation agreement to develop embedded finance solutions on MUHIDE platform. SAB will provide financing solutions integrated into the platform for platform users.
- Google CloudcoreCloud infrastructure provider for MUHIDE platform. Smart contracts stored in Google Cloud in Saudi Arabia.
- EthereumcoreBlockchain technology provider used for smart contracts and immutable record-keeping on the platform.
- OutSystemscoreLow-code development platform used to build and customize MUHIDE platform. Enables rapid development and customization to match client requirements.
- WathqcoreGovernment digital services platform integrated with MUHIDE for authenticating and retrieving company information during registration.
- Thiqah Law FirmminorLaw firm partner providing legal framework and joint agreements for trade relationships governed on the platform.
- SEDCOminorCustomer partner visible on MUHIDE website. SEDCO Holdings appears as a trusted collaborator in the platform ecosystem.
Scale indicators4 records
Recent moves6 records
Expansion highlights7 records
MUHIDE competitors and assessment
Company assessmentDirect peers
- Komgo: Blockchain-based trade finance platform used by major commodity traders and banks to digitize letters of credit and trade documents. Mirrors MUHIDE's use of Ethereum smart contracts for trade document authentication and financing enablement.
- Tipalti: End-to-end B2B payments platform with AP automation, supplier onboarding, and global payments — overlaps with MUHIDE's invoice lifecycle, ERP integration, and supplier verification functionality.
- Taulia: Supply chain finance and dynamic discounting platform (now part of SAP) that connects buyers, suppliers, and financing partners — directly comparable to MUHIDE's invoice discounting and ERP-integrated working capital flow.
- Resolve: B2B commerce and net-terms platform automating purchasing, invoicing, and payments for mid-market and enterprise buyers and sellers — directly comparable to MUHIDE's procure-to-pay and trade governance flows.
- Contour (formerly TradeIX / Marco Polo Network): Enterprise blockchain network for trade finance, focused on digitizing letters of credit and receivables financing among global banks. Direct comparison point for MUHIDE's smart contract-based trade document infrastructure.
- Tradeshift: Global B2B trade network platform combining e-invoicing, supply chain finance, and marketplace connectivity — closely aligned with MUHIDE's B2B trade governance and financing access value proposition, though at global rather than national scale.
- TreviPay: B2B payments network and embedded trade credit platform enabling net terms and supplier financing. Shares MUHIDE's model of monetizing B2B trade relationships through buyer-seller-financier orchestration.
- Stenn: Digital trade finance provider extending working capital to international SMEs and suppliers. Comparable to MUHIDE's seller-side financing access through Taajeer and other on-platform financiers.
Emerging players
- Vayana Network: Trade finance network connecting exporters, importers, banks, and insurers across emerging markets. Comparable in mission (digitizing B2B trade and financing) though with regional rather than national focus.
Broad incumbents
- C2FO: Largest working capital marketplace connecting corporates and suppliers for early payment; broader and more established than MUHIDE but operates on a similar receivables-discounting mechanic tied to verified trade flows.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
MUHIDE social profiles
Digital presenceMUHIDE compliance and trust
Trust signalCompliance2 records
MUHIDE financial estimates
Financial estimateRevenue estimate
Valuation estimate
MUHIDE leadership team
Management profileNumber of profiles
Profiles1 record
MUHIDE funding detail
Funding detailFunding overview
Funding rounds1 record
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
MUHIDE M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about MUHIDE
What does MUHIDE do?
MUHIDE operates a unified B2B trade ecosystem platform that authenticates and governs trade relationships between buyers and sellers in Saudi Arabia. The platform converts trade documents (from RFQ through commercial invoice) into immutable smart contracts using blockchain technology, provides delivery assurance tools, and integrates with Wathq and Nafath for identity verification. Sellers subscribe to tiered plans while buyers access the platform for free, with financing partners (banks, insurers) integrated into the ecosystem.
Is MUHIDE a public or private company?
MUHIDE is a private company. It is classified as venture growth investor backed and is currently operating.
When was MUHIDE founded?
MUHIDE was founded in 2023. It employs 11 to 50 people.
Where is MUHIDE based?
MUHIDE is headquartered in Jeddah, Saudi Arabia, in the Middle East region.
How does MUHIDE make money?
Four revenue lines are on record. Subscription Fees (Sellers) is the primary driver. The others are extra Invoice Fees, additional User Seats and trade Credit Insurance.
Who are MUHIDE's main competitors?
Direct peers on record are Komgo, Tipalti, Taulia, Resolve, Contour (formerly TradeIX / Marco Polo Network), Tradeshift, TreviPay and Stenn. Vayana Network is listed as an emerging player. C2FO is listed as a broad incumbent.
Does MUHIDE have an API?
Yes. MUHIDE offers API access with available documentation. The platform supports ERP integration via API (REST/SOAP). Integration support is offered for a fee. API documentation is available for developers integrating with the platform. Developer documentation is at muhide.com/integration-security.
What industry is MUHIDE in?
MUHIDE's product category is B2B Trade Digitization & Governance Platform. Its primary akta.pro industry code is FSADAEAG, Trade Finance & Receivables Tokenization, with a secondary code of FSADAEAH, Supply Chain & Inventory/Warehouse Receipt Tokenization. Its NAICS code is 4251 and its SIC code is 6200.