Seed

Series A

Pre-Seed

Others

Africa

Rest of World

Riyadh

Musaab Al-Muhaidib

Haitham Al-Foraih

Abdullah Almunif

Ziyad Al-Saleh

Abdullah Almedbel

If you're ready to take your business to the next level with SEEDRA Ventures, we want to hear your pitch.

Investment in Startup

Find all about SEEDRA Ventures: funding focus, key investments, and market strategy. Discover insights on Lucidity Insights.

SEEDRA Ventures

E-Commerce

Technology

Fintech

Foodtech

AI/IoT

Travel

Healthcare

Digital & ICT

Finance

Software Dev/Test

Logistics & Storage

Education

With a team of experienced industry leaders, serial entrepreneurs, and top-tier investment professionals, SEEDRA Ventures serves as both a Pre-Seed partner and an Early-Stage investor in Saudi.

Series C

Tamara

Payments

Tamara offers a buy now, pay later platform that enables customers to pay in installments.

Noon Academy

EdTech

E-Learning

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

Series B

Zid زد

eRetail enablement company that enables any retailer or merchant to move from traditional retail to modern retail.

Classera

Lendo

Lending

Lendo is a fintech startup that provides a range of financing products and offers a peer-to-peer lending platform with a core focus on SMEs' debt finance.

Quant Data & Analytics

Support & Management Services

Saudi consultancy which provides Data Science, AI and BI services and SaaS products.

Dubai

Kaso (Elkaso)

Kaso (formerly ElKaso) is an online B2B platform that facilitates order processing and communication between restaurants and suppliers.

Sifi

Financial Services

SiFi aims to assist companies get in control of their expenses.

Telfaz11

Media

Entertainment

Talent Management

Media Production

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

Sabbar

Sabbar is a niche on-demand staffing platform for gig workers in the retail, hospitality, and entertainment industries in MENA.

Dailymealz

Food Delivery

Healthy food subscription app, delivers fresh, healthy, and tasty meals.

Lucidya

Marketing/Sales

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

Omniful

Omniful offers a SaaS for brick-and-mortar retailers to prepare and ship online orders directly from the store.

Dawul

Social Network

Dawul is a platform that allows investors to share details of the financial status of their portfolios with other investors.

Giza

Gameball

Software

Gameball helps online businesses win back their customers, through instant gamification and rewards management.

Spare

Rize

Real Estate

Proptech

WakeCap Technologies

IT & Communication

WakeCap is an IoT-based enterprise solution to improve safety & productivity in the construction site

Mabaat

Odiggo

Torod

Smart solutions for shipping and managing online store shipments

Starzly

Squadio

CloudShelf

Logexa

PIESHIP

Logistics

Zid, a Riyadh-based Shopify-like e-commerce management startup that helps people (and businesses) set up their online stores has raised $2 million Pre-Series A, the startup announced yesterday. The round was led by VC arm of Elm, a leading Saudi technology company, and joined by China’s MSA Capital, Kuwait’s Arzan VC and some angel investors.

Founded in 2017 by Mazen AlDarrab, a serial entrepreneur who has previously founded and led different companies, and Sultan AlAsmi, Zid enables people to create their online stores and manage them without having any technical knowledge through Zid’s web or mobile apps. The e-commerce-in-a-box solution also comes with services (at discounted prices) including delivery and payments from over 20 partners that can be integrated into any store in a plug-and-play manner.

The store owners, according to Zid’s website, also receive access to special prices for product photography, packaging, logistics, design, marketing, and even shared a workspace.

The startup that currently employs a team of 15 plans to use the investment to attract new segments in the retail industry and expand into new geographical markets.

Zid raises $2 million pre-Series A

Riyad-based social trading platform Dawul announced on Tuesday that it has raised $5 million in a seed round led by RAED Ventures with participation from Impact46, Seedra Ventures, Derayah Venture and Sukna Ventures.

Dawul platform is the leading platform specialized in social trading. Established in 2020, it acquired a permit from the Saudi Capital Market Authority to conduct financial technology experiments by the end of the same year, and  was officially launched in July 2021. Dawul is built to help beginner investors keep looking for automated ways to execute trades or, what’s even better, follow professional traders and their portfolios and investment strategies. This way, they can obtain details of the traders’ operations directly and in real time.

Dawul also introduced the “investment funds” product, which allows users to view the data of investment funds in the Saudi market, and to see all updates and analysis related to their own preferred funds. All this is through alerts and notifications that are sent periodically to help beginners in making decisions regarding the buying and selling of stocks, and the building of their investment portfolios in a transparent and safe manner.

Dawul plans to take advantage of this investment round by expanding its offers of social trading-related products, as well as expanding its network in the Middle East and North Africa. The platform aims to target the American and British market with its services,  while focusing its efforts on recruiting talent in the fintech industry.

“We are excited to move forward with this fund and we expect to be the first choice for traders in the region based on our value, upgrading the investor experience, and improving transparency in the financial sector,” said Mr. Mansour Al-Harbi, Founder and CEO of Dawul, in response to this funding round.

Co-founder of RAED Ventures Mr. Talal Alasmari commented on this funding round: “There are enormous opportunities behind the concept of social trading which have not yet been applied in the region. We are pleased to be investing in Dawul platform which is the first to introduce this concept to the Saudi market through a safe and transparent platform, and with the support of the Capital Market Authority to raise awareness among investors. We believe in the ability of the Dawul team to expand and serve  the whole MENA region.”

“The initiatives from public and private sectors on the importance of investment, along with the people’s awareness of the value of investments, there is a gap of knowledge in the investment field and its risk. Dawul’s fills the gap by empowering experts in the investment field to share their experience. We bet on the vast experience of Mansour Al-Harbi driving the social trading platform Dawul forward” Mohammed Alnasyan from Impact46 commented on the investment.

Saudi’s Social Trading Platform Dawul raises $5 Million in seed round with participation from Impact46

Riyadh-based fintech Lendo has raised $7.2 million in a Series A round led by Saudi’s Derayah Ventures, it announced in a statement today to MENAbytes. The equity-only round also includes participation of Seedra Ventures, Shorooq Partners, 500 Startups, and Impact46.

Founded in 2019 by Osama AlRaee and Mohammad Jawabri, Lendo offers instant invoice financing to SMEs through its Shariah-complaint lending marketplace. The offering helps SMEs with their immediate cash requirements. Invoice financing is a popular short-term borrowing tool for businesses in different markets around the world where they use their receivables to get loans from banks (or other financial institutions) but there are hardly any banks that offer it in the region.

Lendo offers loans starting from SAR 100,000 (about $27,000) and going up to SAR 3 million ($800,000) by connecting the SMEs with investors on its marketplace through crowdlending (aka peer-to-peer lending). The SMEs looking for financing can apply on Lendo’s platform if they have a valid Saudi business license (commercial registration), have been in operations for at least one year, and have an annual turnover of SAR 2 million ($530,000) at least.

The startup takes up to three days to review the profile after receiving all the required details and documentation. If approved, the business can apply for financing of up to 80 percent of the invoice value sold to the customer. These opportunities are then shared on Lendo’s platform with the investors who finance them collectively.  Lendo claims that on average it takes about half an hour for an opportunity on its platform to close (i.e. raise the money needed).

The investments start from SAR 1,000 (about $270) and can be made by any Saudi citizen or resident over the age of 18 who has a valid ID and a bank account. The expected annual profits range from 9 to 24 percent depending on the risk profile of the SME. All the opportunities listed on Lendo receive a risk rating based on its credit history, financial position, owners’ personal credit history and experience, and invoice strength.

“We provide solutions to two major pain points in the SME finance market. First, the limited options for SME businesses to borrow cash quickly and easily and second, the limited short-term options that offer higher returns for investors/lenders,” said the startup in a statement.

Lendo makes money by charging the SMEs with a management fee and taking a 20 percent cut from the profit investors make.

Launched just last year, Lendo claims to have financed over 100 invoices worth over SAR 60 million for SMEs and given more than SAR 3 million in profits to its investors. Its co-founder and CEO Osama AlRaee told MENAbytes that they currently have a default rate of zero.

In a statement, commenting on the occasion, he said, “We are proud to be backed by leading investors who have excellent knowledge and experience in the most rapidly maturing MENA entrepreneurial ecosystem. Aside from the financial support and expert advice from the pioneers in the market, their trust in our business model will help us achieve both our short term and long-term goals and scale our business to the next level.”

“The additional investment helped us create more opportunities for Lendo to finance businesses during the challenging economic climate brought about by Covid-19. Our strategy is to provide access to low-profit rate financing to SMEs and help funders receive better returns. Our alternative form of financing has proven to be faster in getting the needed cash flow and has become an essential part of the recovery strategies for many of our customers/clients. We are proud to be the preferred platform of choice for SMEs lending and borrowing in Saudi Arabia and look forward to being pioneers in the wider MENA region,” he added.

Mohammad Jawabri, the co-founder and COO of Lendo, said, “As a team of fintech experts, we combine financial expertise with advanced technology to bring our clients solutions that can turn waiting time into a valuable win-win situation for all parties involved. During the pandemic, there was a huge surge in the numbers of SMEs who turned to Lendo for financing to keep their businesses afloat. Our 25% month-on-month growth is a testimony of the hard work, dedication, and commitment of our team.”

The startup, for now, is looking to expand into Saudi to serve Jeddah and Eastern Region before it launches in other parts of the region. It is also looking to introduce new products to help SMEs raise working capital. The SME lending landscape in Saudi also includes players like Raqamyah (which raised $2.3 million just last month – and interestingly the round was led by Impact46, a firm that has also participated in Lendo’s funding round), Forus, and Dubai-headquartered Beehive. Lendo is one of the many lending startups that are part of Saudi Central Bank’s regulatory sandbox.

Faris Alrashed from Derayah Ventures, said, “The Lendo team has built a remarkable company which is evidenced by their performance especially during the initial months of Covid-19. Lendo is a powerful solution in the industry and its offering is well-timed with the rapidly increasing demand for financing solutions in the dynamic SME lending arena. We firmly believe in the founders and their unparalleled focus on execution, user experience, and scale.”

Shane Shin, the Founding Partner of Shorooq Partners, said, “As the only new investor to join Lendo’s journey, we are humbled and excited to work closely with Osama, Mohammed and the Lendo team to propel their growth within Saudi as they become the dominant regional player.”

Saudi’s Lendo raises $7.2 million Series A for its SME lending marketplace

Riyadh-based online learning platform Noon Academy has raised $8.6 million Series A co-led by Raed Ventures and Saudi Technology Ventures (STV), the startup announced today. It is the largest ever funding round raised by an EdTech startup from the Middle East & North Africa.

The round was also joined by Saudi-based Alisamiah Investment, Saudi Venture Capital Company (SVC), and different individual investors including Careem co-founder Abdulla Elyas, Dr. Abdulrahman Aljadhai, CEO of Elm, and Mazen Aljubair.

Raed Ventures’ Omar Almajdouie, STV’s Hani Enaya and Careem co-founder Abdulla Elyas (who invested in his individual capacity) will join Noon Academy’s Board of Directors.

Founded in 2013 by Mohammed Aldhalaan and Dr. Abdulaziz AlSaeed, Noon Academy that had initially as a simple test prep website is now a social learning platform that enables students to study with friends in groups, compete with one another, and request top tutors on demand. The students, per statement, spend over 60 minutes (on average) on the app per visit, vastly exceeding the EdTech industry average of 14 minutes per visit.

Noon’s web and mobile-based platform offers tutoring and free educational content following a premium model, with users having free access to basic content. For advanced content and access to private tutors, the users are required to pay a monthly fee. The platform, according to the statement, has attracted 2 million students and 1,500 certified tutors to date.

Noon Academy also focuses on helping students pass the Saudi general aptitude test and the achievement test, and is accredited from the Saudi National Centre of Assessment (QIYAS).

Saudi’s Noon Academy raises $8.6 million in largest-ever investment round for an EdTech startup in MENA

The Saudi-based “e-commerce shipping easier” platform, Torod announced the closing of its Seed round at SAR 5 million ($1.33 million), led by IMPACT46 with the participation of local investors including Hala Venture & Seedra Venture. 

Founded in early 2022 by Faisal Almaklas and Ammar Almaatouq, bringing together deep expertise in e-commerce & logistics spaces, enabling fast and cost-effective shipping for D2C retailers with the ability to manage & track the orders through a single interface by Torod.

Torod lies in serving the pain points in the transportation and logistics cycle as the result of the extensive growth of the e-commerce space. By providing an encompassing post-order management experience, Torod is easing the burden of merchants' supply chain. The platform technology, helps merchants seamlessly choose the best method suited for the shipment from a wide range of courier partners local and international including SPL, J&T, SMSA & DHL, with real-time order tracking and returns management. 

“Post the covid pandemic the number of online buyers jumped and many businesses moved to online selling and that comes with a higher expectation from the shoppers for good delivery service. To meet these expectations, e-commerce has to enhance the delivery checkout experience and make sure it’s backed by the best-fit delivery partner reflecting the same values merchants are aspiring to. Here Torod comes to help the merchants control and monitor the whole process by catering to customers' variant needs” Added Faisal Al Mukhles, CEO & Co-founder of Torod.

Soon after the platform launch at the beginning of 2022, Torod was awarded the best shipment tracking solution in the Kingdom and received the MIT university award as one of the 3 best innovative solutions in the region. 

Mohammed Alnasyan from IMPACT46 commented on the investment “With the fast growth that the e-commerce industry is witnessing in our region, there come new challenges and problems that require new solutions to serve and keep up with changing consumer behaviour. Torod enables this industry by providing new innovative solutions for merchants and logistics companies to ultimately enhance the customer experience. Torod team, led by Faisal Almukhles and Ammar Almaatouq, comes with a unique and complementary experience in e-commerce and logistics that we believe is important to realize Torod’s vision.”

Hussain Almarhoon from Hala Venture commented “The e-commerce sector is one of the highest growing sectors locally and globally, and that is why we, in Hala Ventures, were keen to invest in the sector by enabling merchants through Torod platform, which seeks to make the shipping process easier and faster. We believe that Torod will be an added value to e-commerce platforms, as they provide ease of connection with various shipping companies with transparent contracts that suit the needs of merchants.”

With the freshly infused capital, Torod is looking to deploy it to accelerate its mission of enabling a fast and cost-effective shipping process for D2C retailers and enhancing the post-order experience for the merchants and the consumer on another hand.

Torod raises $1.33 million Seed round led by IMPACT46

Saudi Arabia-based buy now pay later (BNPL) startup Tamara, has secured a $6 million (SAR 22.5 million) seed round led by Impact46 with participation from Vision Ventures, Wealth Well, Seedra, Khwarizmi, Hala, and Nama, along with multiple family offices. This marks the largest seed round ever raised by a Saudi Arabian startup.

Founded by Abdulmajeed Alsukhan and Turki Bin Zarah and Abdulmohsen Albabtain, Tamara is the first Saudi Arabian fintech startup to acquire a sandbox licence to operate as a BNPL platform.

The fresh funds will help Tamra accelerate its growth plans as well as expand across Saudi Arabia and the UAE. Tamara’s top partners include: Namshi, Whites, Floward, Saif Gallery, Toys R Us in addition to the e-commerce enablers: Salla and Zid. The company has offices in Germany, UAE and Vietnam.

“We enable merchants to grow their sales and entice their customers with our buy now pay later and installment services that do not include any fees the customer has to pay. We strongly believe Tamara will be a game-changer for both merchants and customers. It will positively re-shape the purchasing power in the market”, said Abdulmajeed Alsukhan, CEO and co-founder of Tamara.

Abdulaziz Alomran, CEO of Impact46, added: “The fintech market is expected to reach $33 billion in transaction value by 2023. We believe that buy now pay later is an untapped area in this huge market, and we are proud to support the Saudi pioneers leading Tamara who will surely play a major role in the transformation and future of financial services in KSA & GCC.”

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