STV NICE Investment in Morni: Bridging to Pre‑IPO
We are glad to announce that STV has invested in Morni, a Saudi-born, tech-enabled automotive services platform that has grown from a roadside assistance app into one of the most integrated and ambitious players in the region’s mobility sector.
This investment was made through our newly launched $100M NICE platform, designed to help category leaders scale efficiently while limiting shareholder dilution. The round also serves as a bridge to Morni’s upcoming Pre-IPO round, marking a defining moment in the company’s growth trajectory.
Founded in 2015, Morni started by tackling a simple but urgent need: on-demand roadside assistance. Since then, the company has grown to operate the most integrated tech-enabled automotive services platform in Saudi Arabia, covering the largest and fastest network of roadside assistance, vehicle auctions, insurance third-party administration, a digitally connected network of 75+ garages, and spare parts dismantling and recycling.
STV is excited about how Morni is disrupting the vehicle ecosystem in Saudi Arabia through a circular infrastructure, built to serve not just drivers, but insurers, partners, and regulators, across the entire vehicle ownership lifecycle.
Salman Alsuhaibaney, Chairman and CEO of Morni, commented, "This partnership with STV comes at a defining moment as we transition to scaled execution. Our tech-enabled solutions are already delivering measurable impacts - as demonstrated by a 5-minute first notification of loss (FNOL) response time. With STV’s support through a swiftly executed NICE structure that enables efficient scaling while preserving strategic flexibility, we will accelerate Saudi Arabia’s mobility transformation and directly contribute to Vision 2030’s road safety and quality of life goals.”
We’re proud to support Salman and the Morni team as they scale into new markets and deepen their capabilities. This partnership marks another step in our broader commitment to backing MENA’s most transformative founders.