Seed

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Series A

Series B

PE Round

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Series D

Europe

Rest of World

Africa

Riyadh

Eng. Saleh Al Rasheed

Dr. Hani Enaya

Ahmed Al-Jasser

Reham Alhazzaa

Ayman Al Fallaj

Eng. Bandar Al Zamil

Majid Mufti

Dr. Nabeel Koshak

Haifa Bahaian

Dr. Osamah Alamri

Nora Alsarhan

Rayan Alzamil

Khalid Alsuraisry

Shorooq Partners

Sukna Ventures

Investcorp

Flat6labs

Raed Ventures

VC Funds

Angel Investor Networks

Accelerator and Startup Studios

Olive Rock Partners

Private Equity Funds

Ruya Partners

Venture Debt Funds

Private Debt Funds

Investment in Funds

See list of our approved Angel Investor Groups for the detailed application process.

Click to see our approved Angel Investor Groups

Co-investment

Saudi Venture Capital Company

Fintech

E-Commerce

Logistics

Gaming & E-Sports

Logistics & Storage

Support & Management Services

Art-Media-Entertainment

Construction

Education

Retail & Wholesale

Industry

Finance

IT & Communication

We can co-invest alongside Angel Investors (syndicates or individuals), so long as they are active members of approved Angel Investor Groups and Networks.

Angel co-investments

We co-invest with institutional investors (ie. VCs, PEs) most often when there is an equity financing gap, to help catalyze later stage investments for strategic or financially-driven objectives.

Institutional Co-Investment in Startups

Saudi Venture Capital (SVC) is a Government Venture Capital firm, established in 2018, to stimulate financing startups and SMEs by investing $1.5 billion through investment in funds and co-investment in startups.

Pre-IPO

Tabby

BNPL

Lending

Tabby is a buy now, pay later (BNPL) platform that allows shoppers to split their purchases into multiple installments at no additional cost from various merchants.

Series C

Nana Direct

Grocery

Grocery shopping and delivery platform that offers grocery and other home essentials delivery.

Foodics

Software Dev/Test

Foodics is a restaurant management system that manages sales, transactions, inventory, employee schedules, and customer relationships.

Unifonic

Marketing/Sales

Customer Experience

Customer engagement platform that unifies communication channels to enable organizations to delight customers.

Noblesville

Paxxal

Specializes in plastic pallet manufacturing, material handling, logistics, data analysis, and supply chain management services.

Noon Academy

Social learning platform making learning a more joyful, collaborative, and innovative experience.

Hyperpay

Predictive Analytics

HyperPay is the fastest growing online payment service provider in the MENA region, serving the largest merchants and banks since 2014.

Rewaa

Transportation

Omnichannel inventory management system and a POS that integrate with marketplaces, shopping carts, and other retail services.

MANAFA Capital

Funding

Investment marketplace for innovative businesses regulated by the Saudi Capital Market Authority

Telgani

Leading car rental platform in which customers can quickly and easily rent car at a very competitive price.

Lawazem

B2B marketplace that is especially made to solve the operational procurement problems.

Telfaz11

Media

Entertainment

Talent Management

Media Production

Specializes in the fields of talent management, comedy, entertainment, content creation, and storytelling

Salasa

logistics company that offers commerce fulfillment service in the Middle East.

Lucidya

Enterprise B2B SaaS company that aims to reshape customer experience in the MENA region leveraging proprietary AI & NLP technologies.

Makkah

DokkanAfkar

DokkanAfkar.com was created by a group of passionate guys who love and appreciate creativity, design and ideas.

Golden Scent

Leading Saudi beauty ecommerce platforms.

BARQ

Utilizes its state-of-the-art delivery technologies to deliver orders as fast as 15 minutes up to same-day delivery service.

Bonat

Customer engagement solution that provides advanced tools to help in managing businesses.

Qoyod

comprehensive online accounting software for small and medium businesses.

Jeddah

Quantum Platform

Computer Vision

Business-to-business product platform for sampling solutions.

Al Khobar

B8AK Digital Technologies

Mobile Apps

Marketplace

Management

Residential

B8ak is an online services marketplace aimed at homeowners and landlords in Saudi Arabia, and Bahrain and provides access to handymen and service providers.

Marn

Foodtech

Payment

Provides easy-to-use cloud POS solutions to clients who manage SMEs to get you all they want, to manage their store, and more.

NOTA NOTA

Technology

introducing a perfume design platform uses NOTA NOTA “Smart, Personal, perfume mixing machine.”

NQOODLET

Providing a simple to use platform and pre paid corporate cards.

Caramella

Social Network

A clean and modern blogging platform without the fuss.

Tunis

Dabchy

Fashion

Dabchy is a localized fashion marketplace where women can buy and sell their clothing online.

Dhad

Audio publishing house that produces and publishes books.

Dubai

Entrepreneur

Publishing

A&BC Safety

Productivity Tools

Restaurants

A&BC is the First Safety Protection Manufacturing in MENA. We are a leading provider of technical Support to the Industrial sector of KSA. We are a company in business since 2018

Dartec

DarTec is an engineering office specialized in offering engineering services in collaboration with international partners specialized in the areas of reverse engineering, 3D laser scanning, equipment inspection, and certification.

Ehsibha

Real Estate

News

Rental

Ehsibha Real Estate provides real estate technology solutions using artificial intelligence and machine learning data.

Eventful / Qosoor

Event Management

Eventful is an app that simplifies the events planning & booking process from venues & services, in an innovative & simple experience.

Baden-Württemberg

Schmid

Develops equipment and process solutions for electronics, energy systems and customer service.

Suhul Alkhalej

Sustainable

Industrial Development and Investment Company that manufactures eco-friendly WPC profiles for windows and doors.

Pi Flow

Pi Flow operates as an accounting services provider.

Vibes

Real estate agency that provides co-working space, meeting room rentals, networking opportunitie for working professional.

Saudi Arabia-based customer engagement platform, Bonat, has raised its Seed investment round, led by Impact46 with participation from Saudi Venture Capital (SVC) and angel investors. 

Bonat offers online and offline retailers a software as a service (SaaS) solution to manage customer relations. It provides a loyalty programme to businesses to acquire, retain, and understand their customer purchasing behaviour. The startup plans to use the investment primarily to fund its product development.

“We have recognised an existing problem that faces businesses in identifying and maintaining their customer data and engagement, which created an opportunity cost that can be turned into profits,” said Saud Binsaeed, co-founder and CEO of Bonat. “Usually 20 per cent of customers bring in 80 per cent of the business revenue. Our goal is to help businesses to identify their 20 per cent super fans to optimise the value of each customer as much as possible.”

Bonat currently serves more than 100 clients across Saudi Arabia, including restaurants like Elixir Bunn, Less Cafe, Greens, Opo, and Froz.

“Bonat is addressing a great opportunity in the customer engagement space, where the solution allows businesses to drive their brand names and convert customers from being one time visitors to loyalists. We’re excited to back a Saudi customer engagement solution, and we’re proud of the team behind it,” said the Impact46 team in a statement.

Bonat raises Seed investment led by Impact46

Saudi Arabia-based engagement platform Unifonic has raised a $125 million Series B round led by Softbank Vision Fund 2 and Sanabil. 

The investment marks Softbank’s first direct investment in a Saudi-based startup and its second in the Middle East after Kitopi.

Founded in 2006 by Ahmed Hamdan and Hassan Hamdan, Unifonic’s technology integrates customer communication channels including text, voice, messaging and web into a single platform to enable companies to communicate directly with customers. 

The startup raised $21 million in its Series A round in 2018 and has since quadrupled in size, processing more than 10 billion transactions on its platform, annually. 

This latest round of investment will fund Unifonic product development and hiring in order to expand into new markets around the globe. 

Press release:

Unifonic, the Riyadh headquartered customer engagement platform, today announces its $125M Series B funding round, led by SoftBank Vision Fund 2 and Sanabil Investments. Unifonic’s solutions integrate customer communication channels including text, voice, messaging and web into a single platform to enable companies to create stronger customer relationships. 

Consumers expect brands, governments, banks and organisations to connect with them over a growing number of channels. As newer channels emerge, and user preferences change over time, organisations rely on Unifonic to maximise customer engagement and optimise communication returns on investment.

From SMS for online banking to WhatsApp vaccination requests, Unifonic empowers organisations to transform customer experience while allowing them to focus on core business activities without maintaining costly communication infrastructures.

The round sets a new Series B investment record for technology startups in the Middle East, strengthening Unifonic’s leadership and growth potential in emerging markets. It also marks SoftBank’s first direct investment in a Saudi-based company and further consolidates Sanabil’s ambitions to invest in high-growth, high-impact technology start-ups in the country.

Faisal Rehman, Managing Partner for SoftBank Investment Advisers, said; “Consumers and businesses are increasingly sophisticated in how they communicate digitally, but this has created fragmentation across multiple emerging channels. Unifonic’s technology manages this complexity into a single platform, enabling enterprise clients to form closer relationships with their customers. Our investment team on the ground in Riyadh has followed Unifonic for some time and we have witnessed first-hand the company’s progress in establishing significant market leadership in the Kingdom of Saudi Arabia. We look forward to supporting the Unifonic team in scaling the platform across the Middle East and other emerging markets.”

A spokesperson for Sanabil Investments added: “Unifonic is poised to play a significant role in accelerating digital transformation initiatives for public and private enterprise in the Middle East. And so, we wanted to be a part of their journey, resulting in one of our largest investments in a high growth, high impact technology company in Saudi Arabia. We believe we can play a significant part in strengthening their strategic position and supporting their future international growth, while aligning with the country’s vision of fostering innovation.”

Less than three years after raising the largest Series A funding round in the Middle East at the time, Unifonic has quadrupled in size and now processes over 10 billion transactions on their platform, annually. Unifonic plans to continue this growth trajectory and will be accelerating product development and hiring in order to expand into new markets around the globe whilst bolstering its leading market share across the Middle East.

Ahmed Hamdan, founder and CEO at Unifonic highlighted; “At Unifonic our mission has always been to empower organisations to engage and communicate seamlessly with their customers. I couldn’t be prouder to see our solutions making such a positive impact and reaffirming that mission. This raise is an important milestone in our journey, it will allow us to scale our offerings and expand our reach to enable more organisations to connect with customers reliably and effectively. Our team is our anchor and together we aim to continue this journey and serve our clients in the best ways possible.”

Saudi's Unifonic raises $125 million Series B from Softbank and Sanabil

Saudi Arabia-based engagement platform Unifonic has raised a $125 million Series B round led by Softbank Vision Fund 2 and Sanabil.


The investment marks Softbank’s first direct investment in a Saudi-based startup and its second in the Middle East after Kitopi.

Founded in 2006 by Ahmed Hamdan and Hassan Hamdan, Unifonic’s technology integrates customer communication channels including text, voice, messaging and web into a single platform to enable companies to communicate directly with customers. 

The startup raised $21 million in its Series A round in 2018 and has since quadrupled in size, processing more than 10 billion transactions on its platform, annually. 

This latest round of investment will fund Unifonic product development and hiring in order to expand into new markets around the globe. 

Press release:

Unifonic, the Riyadh headquartered customer engagement platform, today announces its $125M Series B funding round, led by SoftBank Vision Fund 2 and Sanabil Investments. Unifonic’s solutions integrate customer communication channels including text, voice, messaging and web into a single platform to enable companies to create stronger customer relationships. 

Consumers expect brands, governments, banks and organisations to connect with them over a growing number of channels. As newer channels emerge, and user preferences change over time, organisations rely on Unifonic to maximise customer engagement and optimise communication returns on investment.

From SMS for online banking to WhatsApp vaccination requests, Unifonic empowers organisations to transform customer experience while allowing them to focus on core business activities without maintaining costly communication infrastructures.

The round sets a new Series B investment record for technology startups in the Middle East, strengthening Unifonic’s leadership and growth potential in emerging markets. It also marks SoftBank’s first direct investment in a Saudi-based company and further consolidates Sanabil’s ambitions to invest in high-growth, high-impact technology start-ups in the country.

Faisal Rehman, Managing Partner for SoftBank Investment Advisers, said; “Consumers and businesses are increasingly sophisticated in how they communicate digitally, but this has created fragmentation across multiple emerging channels. Unifonic’s technology manages this complexity into a single platform, enabling enterprise clients to form closer relationships with their customers. Our investment team on the ground in Riyadh has followed Unifonic for some time and we have witnessed first-hand the company’s progress in establishing significant market leadership in the Kingdom of Saudi Arabia. We look forward to supporting the Unifonic team in scaling the platform across the Middle East and other emerging markets.”

A spokesperson for Sanabil Investments added: “Unifonic is poised to play a significant role in accelerating digital transformation initiatives for public and private enterprise in the Middle East. And so, we wanted to be a part of their journey, resulting in one of our largest investments in a high growth, high impact technology company in Saudi Arabia. We believe we can play a significant part in strengthening their strategic position and supporting their future international growth, while aligning with the country’s vision of fostering innovation.”

Less than three years after raising the largest Series A funding round in the Middle East at the time, Unifonic has quadrupled in size and now processes over 10 billion transactions on their platform, annually. Unifonic plans to continue this growth trajectory and will be accelerating product development and hiring in order to expand into new markets around the globe whilst bolstering its leading market share across the Middle East.

Ahmed Hamdan, founder and CEO at Unifonic highlighted; “At Unifonic our mission has always been to empower organisations to engage and communicate seamlessly with their customers. I couldn’t be prouder to see our solutions making such a positive impact and reaffirming that mission. This raise is an important milestone in our journey, it will allow us to scale our offerings and expand our reach to enable more organisations to connect with customers reliably and effectively. Our team is our anchor and together we aim to continue this journey and serve our clients in the best ways possible.”

Riyadh-based online grocery delivery marketplace Nana Direct has raised $6 million investment from Middle East Venture Partners, Impact 46, and Saudi Venture Capital Investment Company, MEVP announced today at their investment conference. It is one of the biggest funding rounds ever raised by a Saudi startup.

Founded by Sami Al-Helwah and Ahmed Al Samaani in early 2016, Nana Direct follows a three-sided Uber Eats-like marketplace model for grocery deliveries. Its marketplace consists of customers who want to buy groceries online, stores who want to sell through its mobile-only platform and freelance delivery partners who pick groceries up from the stores and deliver them to customers.


via Wamda

In an interview with Wamda in 2017, Nana Direct’s founder and CEO, Sami Al-Helwah, had explained, “Nana Direct depends on freelancers that are looking for an extra income. The customer orders groceries from one of Nana’s online stores. The order goes to the shop owners app where the products prepared. Once done, a notification is sent to the delivery team that will deliver the groceries to the customer’s house and get paid in cash or through mobile payment.”

According to its website, Nana Direct is currently available across 12 cities in the Kingdom, selling over 13,000 products through its Arabic-only apps for iOS and Android. The products include almost everything a hypermarket would have and even medicines.

Late last year, Wadi.com after pivoting to groceries had raised $30 million investment from Majid Al Futtaim.

Saudi-based Nana Direct raises $6 million for its online grocery delivery marketplace

Market Overview:
Globally, online grocery has grown rapidly. Credit Suisse estimates the market will grow to $285B by 2020. USA and Europe have seen several successful e-grocery start-ups, who have benefited immensely from the fulfilment infrastructure and delivery strategies that emerged from the success of Ecommerce. With examples like Ocado in UK valued at $5B and InstaCart in US valued at $7,6B, Online grocery today is where e-Commerce was 5-10 years ago. Grocery market in Saudi Arabia, UAE, and Egypt alone is estimated to be an $83B market. As for Saudi Arabia in specific, it’s a large consumer market with retail as one of the largest sectors of the economy and Grocery is the second-largest expenditure of a Saudi household. While estimates are scarcely available, local financial group SAMBA estimates private consumption by itself accounts for 41.5% of GDP in KSA.

Nana, the product:
Nana started as a dedicated online grocery store targeting the youth demographics and quickly evolved into the largest online grocery marketplace in the Region. Nana, currently serving 14 cities across the Kingdom, follows a marketplace business model by empowering hypermarkets to list and sell their products to millions of Nana users. The online service connects consumers to a network of in-store shoppers who prepare the basket and hand it to the scheduled delivery driver through Nana’s fleet network. Meanwhile, end consumers can follow the progress of their orders journey from placing it up until it is delivered.
Nana has tripled its turnover during the past year and partnered with Carrefour, Panda, SPAR, Farm Superstores, Manuel and many others allowing the platform to offer the widest possible range of consumer-packaged goods (CPG) all over Saudi.

Notably, Nana wasn’t always the platform that it is now. The working business model today is a result of the team’s experiments and trials in the market, starting with a simple question they asked back in 2015, “How can we easily share our shopping list with family members?”, Taking into consideration the huge FMCG sector and variety of products, solving that riddle would require the team to venture into listings in order to serve their clients. Which in turn led Nana to address the steps of purchasing and delivery and finally lock the end-user experience and complete the circle of their customer’s journey under one platform.

Perhaps the most important change of all was the latest shift that Nana went through in 2019 from an e-commerce model (Online Supermarket) to a marketplace model. In both 2017 and 2018.
while Nana was still under the e-commerce model (online supermarket), the team achieved a lot, demonstrated the need of the local market for an online competitor in the food sector, developed an unparalleled technical infrastructure, and built a name and reputation with consumers. Whoever, expansion under the e-commerce model is costly and in most cases reduces the speed and agility of a startup’s growth. Achieving notable growth under this model means high operational expenses and heavy injections on dark Stores, permits, and staff. On the long run, it is difficult for a Nana-sized technology startup to compete huge players in the value chain while maintaining similar prices to those offered by traditional supermarkets.

Hence, mid 2019, the management team at Nana decided to fully transform into an online marketplace offering traditional supermarkets and food centers an online channel and act as a lead generation engine. This shift in model changed the game for Nana, Instead of positioning itself as a direct competitor, Nana became a success partner and a leader in generating sales for offline players, which in turn contributed to accelerating the growth of Nana during the past year, and positioned the startup to become the first platform in Saudi Arabia to include major food market chains on one platform.

COVID-19 effects:
With the current economic circumstances taken into consideration and the spread of Coronavirus, Nana plays a major role in helping individuals to adhere to precautionary measures of self quarantine. Nana’s capacity was tripled compared to the previous month in order to meet the increasing demand which was also doubled. Using incentive programs such as Ajeer program sponsored by the Ministry of Human Resources and Social Development, temporary secondment of employees contributed to facilitating the process of Nana’s accelerated growth in light of this crisis.

The Team Behind the Success:
Nana was founded by three founding members Sami Alhelwah, Ahmad Alsamani and Bakr Elsherif. The team was later joined by Abdulmajeed Alsukhan, Nana’s co-founder and CFO. Sami is a serial tech entrepreneur with a long list of startup adventures over the course of 16 years in the ecosystem. Bakr, co-founder and CTO, is a software engineer and helped Sami in developing several products in the past. Ahmd, co-founder, specializes in hardware design and stands behind many hardware tools that enable Nana’s workflow. Finally, they all decided to focus on growing Nana in 2016 and that is when they attracted a few angel investors to fund their idea. In late 2017, the team came across Abdulmajeed Alsukhan, an energetic entrepreneur who started a last mile logistics startup, Hably, the four entrepreneurs have immediately decided to join the forces. That was when Nana acquired Hably and Abdulmajeed joined Nana as a co-founder. Abdulmajeed’s contribution to the team was instrumental in managing the logistics operations more efficiently and more importantly, in fundraising.

Investment Rounds:
Starting with their first round back in May 2016, Nana team raised a $2.1m Seed round by Angel investors, followed by a $2.2m Convertible Note round in 2017. Both rounds were to further help Nana better solidify its position in the market and to expand to multiple cities across the Kingdom. With a better understanding of where Nana stands and where its headed, Nana raised its $6.6m Series A round in 2019. The round was co-led by Impact46 and MEVP, with participation from Watar Partners, Wamda Capital, and Saudi Venture Company (SVC) with the objective to double-down on growth, expansion and improving its customer service.

“Impact46 started engaging with Nana in late 2018, around the time we were setting up shop ourselves and had underwrote $5m of Series A round in March 2019, before we even had our own license ready. We are happy to have done so, because it opened the doors for us to set up our own Growth Fund and differentiated us from our competitors. The decision to move to a marketplace model in 2019 was a gutsy call by the management and proved to be very successful when it was implemented. We had doubts, but we had faith in the founders” said Abdulaziz Al Omran, Partner at Impact46.

This past month, Nana announced its $18m Series B round to further drive its growth, along with the plans to expand its geographical footprints into different countries in the region. The round was led by STV, the largest VC in the Middle East with a $500m fund, and with participation from Impact46, Wamda Capital, MEVP, Watar Partners, and Saudi Venture Company (SVC). Except for STV, all participants of this round have been previous investors in Nana Series A round, which only signifies the energy and momentum built by the Nana team. Homegrown from the ground up, marks the start of a new breed of startups in Saudi Arabia.

Nana’s Journey to its 18M USD Series B round

Riyadh-based car rental & mobility solution, Telgani has successfully raised $2.5M (9.37M SAR) in its latest funding round. The Pre-Series A round led by Impact46 with participation from Nomw Capital “private equity” and value-added investors. 

Founded in 2018, Telgani provides access for individuals to a wide range of car rental agencies across the kingdom, handling the cycle of renting a car through a streamlined experience. Since the launch of the platform, Telgani has an agreements and partnerships with more than 50 local and international car rental companies with +500 branches across the kingdom, covering more than 44 cities and 13 airports in Saudi, and partnering with leading car rentals companies such as Budget, Theeb, Hertz, Sixt, and Key Car Rental.

Telgani is in a constant state of scaling its offerings. Being the first in the region to offer car delivery services in 12 cities around the Kingdom. Along with the domestic tourism movement, Telgani introduced a drop-off between cities enabling clients to enjoy different destinations in Saudi while being able to drop off their rental car at their last destination. While Telgani is playing a key role within the industry, and with its recent expansion, the platform has +230,000 active users and more than 350,000 rental days on the platform since 2018. 

“Telgani has been fueling the mobility industry with an accessible yet easy approach of renting cars in KSA. Along with governmental and institution support, Telgani is making their mark in the mobility sector with their initiatives. In the last year, Telgani has launched multiple projects including “Telgani Quick”, the first self-service device for rental cars allowing users to rent cars with 3 steps, furthermore Telgani is working on its upcoming exceptional projects,” added Ali Alfehaid, co-founder of Telgani.

The platform offers a wide variety of mobility solutions, with the flexibility of renting cars on a daily/monthly/yearly basis. Although the mobility sector has been hit hard by Covid-19 in early 2020, Telgani has managed to tailor its offering by supporting the shift of individual needs. This has reflected the incredible growth of sales by more than 4X in 2020 compared to 2019. Almikanzy, Founder of Telgani highlighted “With the recent fund and as the platform seeks to keep pace with Saudi Arabia 2030 Vision. Telgani is on the go to enhance its technology, further develop digital solutions, and introduce new products accommodating the market needs and eyeing for expansion.” 

The startup will channel its newly acquired funds to support its platform and expand its go-to market to cover the wider geographical areas within the region. In light of this platform-scaling investment Abdulrahman Al-Modaimeegh Managing partner at Impact46 concluded “Telgani team agility has demonstrated strong performance over the last years. We’re delighted to further support an innovative and forward-facing platform. Ensuring an unrivaled customer experience, car rentals & travelers can now avail of the local most extensive application for car rental solution.”

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Saudi Venture Capital Company

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