thefoundersstory

MONEYMOON - A New Era of Personal Finance: Abdulmajeed Alaskar

In this conversation, TFS talks with Mr. Abdulmajeed Alaskar, the CEO of MONEYMOON. MONEYMOON is a pioneering platform that simplifies personal finance through human-centric, accessible services. Mr. Alaskar shares his insights into his entrepreneurial journey and the innovative impact MONEYMOON is making in the world of personal finance.

TFS: Today, we are thrilled to welcome Abdulmajeed Alaskar, the founder of MONEYMOON. We are excited to learn about your journey and how MONEYMOON is transforming the personal finance landscape. Welcome, Mr. Alaskar.

Abdulmajeed Alaskar: Thank you! It’s great to be here. It’s been a learning experience, and I’m happy to share a bit of that insights from this journey and the lessons that have shaped my approach along the way.

TFS: Let us talk about the beginnings. What inspired you to start your own business, and how did you come up with the idea? 

Abdulmajeed Alaskar: I’ve always been fascinated by the intersection of finance and technology, but the traditional financial system, despite its size, has been remarkably slow to innovate. The concept of personal finance seemed ripe for disruption, similar to how Airbnb and Uber redefined their industries. I wanted to create something that didn’t just patch the old system but fundamentally reimagined it. MONEYMOON was born out of this desire to simplify financial services and make them more human, accessible, and short-term—something as intuitive as hailing a ride or booking a room. Inspired by the sharing economy, I realized personal finance needed to be reimagined around trust, simplicity, and community. 

TFS: And you have certainly succeeded in that. Could you explain the inspiration behind MONEYMOON and how it aligns with your personal values?

Abdulmajeed Alaskar: The idea for MONEYMOON came from recognising a significant gap in how financial services are delivered. Traditional systems often feel cold and inaccessible, which is why I wanted to build a platform that combines human touch with innovation. You see, MONEYMOON is a platform where access to funds is faster than ever, and lenders can earn a profit effortlessly. It’s all about making finance work for everyone, ensuring it empowers rather than burdens, those who have the money and those who need it.

TFS: Winning the best Fintech essay competition is a significant achievement. How do the insights from your essay influence the strategic direction of MONEYMOON?

Abdulmajeed Alaskar: The essay was a chance to call out what everyone seems to be running from, finance is a longer, more complicated road, but that’s precisely why it’s so ripe for disruption.

Most people avoid it because of the heavy regulations and complexities. But that’s the point, the real breakthroughs happen in spaces where others don’t dare to tread.

The insights from my essay are clear: we’re not afraid to take the longer path if it means we can reimagine personal finance from the ground up. MONEYMOON’s strategy reflects this, while others look for shortcuts, we’re committed to reshaping an industry that desperately needs change. Yes, the road is longer, but we’re playing the long game, and we’re ready to rewrite the rules along the way.

Explore full insights in the article “Personal Finance Reimagined

TFS: MONEYMOON is the first platform of its kind in Saudi Arabia, and possibly even globally. What were the main challenges you encountered in securing Central Bank approval for such a unique peer-to-peer lending model?

Abdulmajeed Alaskar: The biggest challenge was navigating uncharted regulatory waters. We had to prove that our model was both innovative and secure, while aligning with strict financial regulations. It was a balancing act of staying true to MONEYMOON’s vision while building the necessary trust with the Central Bank.

Our success in securing approval from SAMA was a testament to our team’s dedication and the platform’s potential to reshape the financial landscape.

Saudi Arabia’s fintech scene is evolving rapidly, and it’s the perfect launch pad for MONEYMOON. But our ambitions go far beyond the region. Once we’ve proven the model here, we’re ready to take it globally, adapting to different markets while keeping the core principles intact. Saudi Arabia has given us the foundation, and we’re building the platform to scale well beyond its borders.

TFS: It is impressive how you have tackled those challenges and are now ready for global expansion. How does MONEYMOON manage to stay innovative while complying with strict financial regulations?

Abdulmajeed Alaskar: I’m glad you brought that up!.
Innovation and regulation can seem like opposing forces, but I see them as partners in progress. It’s an enjoyable challenge!
At MONEYMOON, we embraced the challenge by creating a platform that doesn’t just work within the rules but thrives because of them. By blending automation with compliance, we ensure a seamless experience while staying agile. It’s about proving that fintech can push boundaries without compromising trust or responsibility, and that’s where true innovation lies.

TFS: What technologies are you using to make sure both borrowers and investors have a smooth and secure experience on your platform?

Abdulmajeed Alaskar: We use advanced API integrations and cloud-based solutions to streamline the loan process, ensuring it is both smooth and secure. Borrowers and lenders interact directly through our platform, and everything from credit assessments to transactions happens in seconds. Technology exists to give a pleasant experience for users. That’s its main role isn’t it?

TFS: What are your long-term plans for MONEYMOON as you look to the future?

Abdulmajeed Alaskar: We want to create a world where financial empowerment is in the hands of individuals, not just institutions.

We’re aiming to shift the very perception of finance from something bureaucratic and complex to something fluid and personal. Our goal is to turn what’s traditionally viewed as “serious business” into something as simple as sending a text message.

And in that world, MONEYMOON isn’t just another fintech, it’s the thread that connects people in ways they never imagined.

We started in Saudi Arabia, but our vision is truly global and full of possibilities.

TFS: That sounds fantastic. If you do not mind, I would like to ask some more personal questions. Could you share what a typical day looks like for you as an entrepreneur?

Abdulmajeed Alaskar: Honestly, no two days are alike, and that’s what keeps me energized. One moment I’m brainstorming new features, the next I’m working through solutions with the team. But what stands out most is staying close to our users. After the launch, I made it a point to personally engage with thousands of early users, day and night. I wanted to hear their feedback firsthand, not through another team.
But amid all the chaos, I make time for introspection, ensuring the vision for MONEYMOON stays crystal clear while keeping an ear to the ground for market insights and evolving customer needs.

TFS: How do you keep yourself motivated and focused throughout your entrepreneurial journey, especially when facing challenges?

Abdulmajeed Alaskar: Motivation comes from a deep-rooted desire to create something that leaves a lasting impact. I look at disruptive companies, those that challenge the status quo and reshape industries. The vision for MONEYMOON is equally ambitious.
During tough times, I remind myself that disruption doesn’t come easily. The more resistance I face, the more I know I’m onto something important. Every setback is a lesson, and every tough moment sharpens the strategy.

TFS: Your passion and resilience truly shine through in your approach. What advice would you give to aspiring entrepreneurs who want to start their own business?

Abdulmajeed Alaskar: Entrepreneurship is about more than just implementing a new idea.
It’s about understanding a problem so intimately that you become obsessed with solving it. My advice is to not rush into solutions but to deeply understand the pain points of the people you aim to serve. Iterate fast, but never lose sight of the human element in your business. Lastly, resilience is non-negotiable. You must develop a mindset where failures fuel your future steps rather than define you.

TFS: What do you find most rewarding about being an entrepreneur?

Abdulmajeed Alaskar: Honestly? The chaos. The thrill of walking the tightrope between genius and madness. Entrepreneurship isn’t about balance, it’s about willingly tipping the scales toward the unknown. People talk about success and growth as the ultimate rewards, but for me, it’s about dismantling conventions and questioning the very fabric of what we think is ‘normal.’
The most rewarding part is knowing that every decision I make could either revolutionise an industry or completely fail and being okay with that. It’s the power to rewrite the rules, break moulds, and, in the process, challenge not just the market but the way we perceive value, success, and risk.
The reward is in the disruption itself—in knowing that you’re not just playing the game, you’re changing it. 

TFS: It has been fascinating to learn about your journey and the innovative work MONEYMOON is doing. We wish you and your team continued success as you reshape the personal finance landscape.

Abdulmajeed Alaskar: Thank you so much. It has been a pleasure sharing the story of MONEYMOON with you. We appreciate your support and interest in our mission.