June 24, 2025
STV Invests in Morni to Drive the Future of Automotive Services in Saudi Arabia
STV, the largest independent tech venture capital fund in the MENA region, has announced a new investment in Morni, a leading Saudi platform offering tech-enabled automotive services. The investment comes from STV’s newly launched $100 million NICE Fund, reflecting strong confidence in Morni’s expanding vision.
What started as a roadside assistance provider, Morni is now transforming into a full-scale automotive ecosystem. Its services now include:
- Roadside assistance
- Vehicle auctions
- Insurance third-party administration
- A growing nationwide network of garages and spare parts dismantling centers
This expansion is powered by Morni’s in-house tech capabilities and a dedicated tech hub, helping the company deliver smart, seamless solutions across the entire vehicle ownership journey — benefiting drivers, insurers, and partners alike.
Recent Highlights from Morni:
- Launched in the UAE
- Expanded garage network to 75 facilities across Saudi Arabia
- Doubled workforce and made key leadership hires to support rapid regional growth
Morni’s CEO and Chairman, Salman Alsuhaibaney, shared,
“Partnering with STV marks a turning point for us. With their support, we’re scaling rapidly while staying flexible. Our solutions are already making a real difference – like achieving a 5-minute FNOL (First Notification of Loss) response time. Together, we’re helping drive Saudi Arabia’s mobility transformation and supporting Vision 2030’s goals for safer roads and improved quality of life.”
From STV’s side, Abdulrahman Alageel added,
“Morni is not just solving today’s mobility challenges – it’s building the future of automotive services in the Kingdom. Their platform is tackling inefficiencies and creating a better experience for car owners, insurers, and service providers.”
This partnership showcases the rising investor interest in tech-first mobility platforms in the MENA region, where traditional services have often remained fragmented. For both Morni and STV, the vision is clear: shape a smarter, more connected, and sustainable future for mobility in Saudi Arabia.
