Saudi Mobility Platform Morni Draws Investment From STV's $100m NICE Fund
The June 2025 backing supports Morni's expansion from roadside assistance into vehicle auctions, insurance administration and a nationwide garage network.
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Morni, the Saudi tech-enabled automotive-services platform, secured an undisclosed investment from STV's newly launched $100 million NICE fund in June 2025. The Sharia-compliant, non-dilutive vehicle backs Morni's evolution from on-demand roadside assistance into an integrated automotive ecosystem.
Founded in 2015, Morni now operates roadside assistance, vehicle auctions, insurance third-party administration, a network of more than 75 connected garages and spare-parts recycling. The company said the funding would support continued expansion, including a planned launch in the UAE.