Series C

Seed

Series B

Series A

Others

Pre-Seed

Rest of World

Africa

Levant

Dammam

Haitham Bu-Aisha

Kais Al-Essa

Mohamed Al-Amad

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

Investment in Startup

Vision Ventures

AI/IoT

Fintech

Education

NFT/Crypto

Healthcare

Retail & Wholesale

E-Commerce

Art-Media-Entertainment

Logistics & Storage

Security

Software Dev/Test

Vision Ventures (VV) is a VC by entrepreneurs, for entrepreneurs. Its team are ex-founders who have the mission of helping founders succeed. VV invests in early stage tech startups in the Seed and Series A funding rounds. Vision Ventures is a sector agnostic VC, but has particular interests in the Cloud, SaaS, Cybersecurity and FinTech sectors.

Riyadh

Tamara

Payments

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

Dubai

Rain

Finance

Rain is an operator and custodian of digital currency exchange intended to make digital transactions.

Foodics

Foodtech

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

Makkah

Salla

Technology

SaaS

Salla allows users to easily set up an e-commerce store in Arabic through their platform.

Syarah

Automotive

Marketplace

Syarah specializes in online car sales, offering assistance with purchases and financing options in Saudi Arabia and the region.

Cairo

Trella

Trella is a b2b technology platform and trucking marketplace that connects shippers with carriers in the highly fragmented freight industry.

Brimore

Brimore is a social commerce platform connecting emerging brand owners with a network of resellers who market and sell their products using social media.

Bayzat

Bayzat is a technology SaaS company that provides insurance, payroll, and human resources solutions for businesses.

Rewaa

Transportation

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

California

Augmented Reality

VUZ is a social app that allows users to stream and experience XR and the Metaverse.

Nearpay

Nearpay is a FinTech company providing payment acceptance solutions to banks, payment providers and startups.

Manama

Calo

Food and Beverage

Wellness

Calo is D2C foodtech startup that serves personalized meal subscriptions.

Sarwa

Sarwa is an online platform that makes investing in global markets simple and affordable for investors in the Middle East.

Amman

Tamatem

Gaming

Tamatem is a mobile games publisher that focuses on providing the users with culturally relevant games.

RedBox

RedBox provides smart parcel lockers services to customers.

Ejari

Proptech

Real Estate

Rental

Property

Ejari is a Saudi real estate technology company that provides a rent now and pay later service for residential units.

POSRocket

Intelligent Systems

Traditional cash registers are a thing of the past. POSRocket modernizes this near-obsolete system by providing business owners with an intuitive, user-friendly, cloud-based point-of-sale (POS) platform.

MUNCH:ON

Information Technology

Food Delivery

Delivery Services

one of the region’s fastest-growing food delivery apps, providing home and office addresses with a quick and convenient way of ordering a variety of meals at a fraction of the cost.

Jeddah

Quantum Platform

Computer Vision

Quantum is a Saudi Adtech enabler bridging between online publishers and advertiser with the power of tech and data.

Chefaa

Chefaa is a GPS-enabled pharmacy benefits platform connecting patients & pharmacies nation-wide to help patients manage all their pharmacy needs.

Haseel

Haseel is a fresh fruits and vegetables ecommerce platform

Munjz

Gathern

Hospitality

Travel

P2P marketplace for vacation rentals licensed by MT. Gathern offers a wide range of advantages for both Guests and Hosts.

Raqamyah Platform

Raqamyah Platform is a regulated peer to peer (P2P) financing platform by Saudi Arabian Monetary Authority (SAMA).

Buseet

Ride Sharing

Buseet is a shared mobility startup focusing on fixing the daily commute for whole family members.

Sibly

Social Network

Text-based service that connects employees with helpful human coaches whenever, wherever.

Cartlow

Logistics

Sustainable

UAE-based ‘re-commerce’ solutions provider with a focus on transforming the pre-owned industry sector and eliminating unsustainable practice

Grant

Hello World Kids

EdTech

E-Learning

making the education of coding as easy and accessible as possible

Spare

Geeks

Software

Consumer Goods

Geeks is an on-demand business that connects the right Geek with businesses and consumers based on time, location, and skill set.

Cognna

Computer

Cybersecurity

Cognna, a leading cybersecurity startup, is on a mission to simplify cybersecurity with their innovative platform to empower users by providing effective tools to detect, prevent, and resolve threats effortlessly.

Marn.io

The Chefz

Food and Beverages

The Chefz operates as a gourmet food and sweets delivery platform. The Chefz allows users to order food and sweets from ‘top elite restaurants, bakeries, and chocolate stores’ in Riyadh, using its mobile app (available for both Android and iOS).

QiDZ LLC

family activity mobile app in the UAE that connects parents with entertainment, education and after school vendors.

Malaeb

Support & Management Services

Media

Entertainment

Community app for football players that allows you to join matches and book fields

SocialDice

Innovative hiring solution that makes hiring easy, smart and fun tailored for SMEs in the Middle East & North Africa.

Giza

Shezlong

Telemedicine

Online mental health platform, allows patients to be connected with licensed therapists via video visit on mobiles or web.

Taskty.com

First online marketplace for domestic services on the Internet.

Caramella

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.

Wethaq Capital Markets

Lending

Financial Services

Sustainability

Wethaq is a capital markets firm specializing in emerging private markets.

Kuwait

Information Services

A simple interactive learning management app for schools and nurseries

Nakheel

Agriculture

Vidmass

SaaS business that helps SMEs and enterprises to produce marketing video content for social media channels and websites.

SHROO7

Educational platform that creates an online learning environment which provides comprehensive set of educational tools.

Mntrni

Easy to use mentorship platform to get expert help and advice on your business

MENAbytes

An online media publication covers technology and startups from the Middle East & North Africa

Faceki

Artificial Intelligence

Biometrics

Cyber Security

Developer APIs

Facial Recognition

Identity Management

FACEKI is a real-time identity verification platform with advance biometric technology powered by AI.

Gyrocraft

Saudi-based fintech peer-to-peer (P2P) lending platform, Raqamyah, has secured a $2.3 million investment round led by Impact46 with participation from Vision Ventures, Mad’a Investment, Alyusur Company, Fadeed Investment and several angel investors.

Founded by Ammar Bakheet, Raqamyah operates as part of the Central Bank’s SAMA Sandbox to connect qualified companies seeking different types of financing products with individual and institutional lenders looking for alternative investment with higher murabaha returns.

The new funding will enable the company to meet SAMA’s full licence requirements, invest in technology and talent and facilitate easier access to alternative investment opportunities for investors.

Raqamyah has been growing at a monthly double-digit rate with more than 40 fully-funded loans in one year. It was also the first P2P platform to introduce an automatic lending feature where lenders can choose to set automatic investment options based on their lending criteria.

During the Covid-19 lockdown, the platform expanded from lending to micro enterprises only to small and medium enterprises. It launched a point of sale (POS) lending service in partnership with Skyband, the first POS loan posted in January 2021 was oversubscribed by SAR 2 Million and was fully funded by the automatic lending tool.

Furthermore, the company plans to enhance the credit assessment process by reducing origination cost and improving borrowers’ experience through technology.

According to Bakheet, P2P lending is one of the fastest growing areas in fintech and it is at its early stages in terms of innovation and disruption.

"Prospects of growth for the company considering developments in the fintech scene in Saudi are exciting. We have great faith in Ammar and his team to pave the way in this front,” said Basmah Alsinaidi from Impact46.

“SMEs are one of the main pillars of any economy and the region is no different. SMEs need funding to expand and prosper and Raqamyah is here to support SMEs in their growth journey. We believe Raqamyah’s team is well equipped to lead this space,” said Kais Al Essa, founding partner and CEO of Vision Ventures.

Raqamyah raises $2.3 million investment

The leading online car marketplace Syarah, secured $20 million (SAR75 million) for its Series B investment round co-led by Impact46 and Elm company. The investment round aims to broaden the platform’s offering, improve the quality of the services and expand to new markets across the region. The investment round included participation from Budget (United International Transportation Co.), Vision Ventures, and Yousef Al-Rashidi, the founder of Haraj.

Founded back in 2015 by Salah Sharef and Fayez Al-Anazi, a team with deep experience in the automotive and e-commerce industries, their collective experience is a reflection of the growth the platform has achieved. Syarah is redefining how cars are being bought in the automotive industry in Saudi Arabia, providing consumers with a convenient and hassle-free experience for buying cars online and having the cars delivered to their doorstep. Seeing the adoption of technology and the high demand for buying cars online, in 2019, Syarah has expanded its offering by selling used cars online in addition to new cars. Each used car sold online comes with a free car inspection report, a five-day money-back guarantee, and a one-year warranty. Through the platform, Syarah provides its users with a wide selection of more than 2,300 new and used cars available for sale online.

"Syarah’s technology-focused model has been a huge fuel to the growth of the platform exceeding SAR300 million in sales and a rapid growth rate within a very short period. As the platform continues to improve its services in the local market, Syarah is planning to expand its operation in the Mena region,” said Fayez Al-Anazi, the co-founder of Syarah.

Syarah plans to use the recently acquired fund to further shape its offering towards users' needs, provide complementary and wide options of services and strengthen its activities by establishing its own distribution centres in Saudi Arabia. The warehouse represents a milestone in Syarah’s development efforts, where it aims to increase its stock to more than 1,000 used cars that have gone through an in-house inspection and reconditioning phase and are available to collect from the platform.

Salah Sharef, CEO and co-founder of Syarah commented: "We have successfully sold more than 6,000 cars online so far, and with this new investment, we intend to significantly grow our inventory and sales over the next few months."

Majid Alarifi, the Vice President of Marketing At Elm, said: “Elm investment is in line with the company strategy in building a strong base and supporting the ecosystem locally, creating a promising future for a startup in different sectors. Elm follow-on investment in Syarah reflects the platform's ability to continue achieving remarkable events and driving Syarah further."

"The platform is targeting a largely fragmented market in the Kingdom and it has created an opportunity within by providing digital solutions that cater to the consumer trends and facilitates the process of buying cars online. We’re proud to continue the journey with Syarah led by Salah and Fayez in expanding their footprint to new markets،" said Abdulaziz Al-Omran, Managing Partner of Impact46.

Syarah raises $20 million in Series B round

Riyadh-based gourmet food and sweets delivery platform The Chefz has raised seed funding in a round led by Saudi’s Vision Ventures with the participation of Impact 46 which is a relatively new Saudi VC but has been very active lately, and Riyadh-based startup consultancy firm Ocean X. The size of the investment was not disclosed but we’ve confirmed that it is a six-figure (USD) deal.

Founded in 2016, The Chefz, according to its website allows users to order food and sweets from ‘top elite restaurants, bakeries, and chocolate stores’ in Riyadh, using its mobile app (available for both Android and iOS).

It is not targeting an average user who orders a meal from McDonald’s or KFC using delivery services like HungerStation, Jahez, Uber Eats, and Careem Now. The Chefz doesn’t even deliver fast food.

It is going after the customers who like to order from very specific high-end restaurants and bakeries and that is why its average basket size with an order value of $66 is five times that of other players operating in the food delivery space in Saudi, claimed The Chefz’s co-founder and CEO Abdulrahman Alshabanat in a conversation with MENAbytes, adding that they have the highest spending customers.

He also said that they plan to be the leader in gourmet food, barkery, and sweets category.

Speaking of the expansion plans, he added, “We are growing horizontally by covering to other cities and also vertically by integrating other services in the food entertainment business.”

The Chefz uses a hybrid fleet that comprises of its own drivers and “highly trained freelancers”.

The startup apparently makes money by taking a cut from its restaurant partners on every order it sends their way and delivers for them.

Abdulrahman Almarshad, the co-founder and Vice President of The Chefz said that they will use the investment to fuel their growth, expand, and further develop their product.

Kais Al Essa, the founding partner and CEO of Vision Ventures, speaking to MENAbytes, said, “Food delivery, as everyone knows, is a crowded space in Saudi with both international and local brands. But when it comes to gourmet food, it is a blue ocean with The Chefz being the only startup operating in it. And it is being run by highly professional and mature founders who understand this space very well and are trying to fill a big gap in the market.”

“They have developed a business that has been growing exceptionally well on a month over month basis and have very healthy unit economics. We are glad to have invested with Abdulrahman Al Shabanat and Abdulrahman Al Marshad and forsee a great company in the making,” he added.

Currently offering its services in Riyadh only, the startup is working to launch them soon in Jeddah and Dammam too.

Riyadh-based The Chefz raises six-figure seed for its gourmet food and sweets delivery platform

20 April 2022, Riyadh, Saudi Arabia. FOODICS , the leading cloud-based technology and payments platform for restaurants in the MENA region, has successfully raised $170 million in a Series C funding round led by Prosus, one of the largest global technology investors in the world, and Sanabil Investments, a PIF-owned investment company focused on private growth   investments in various stages of the business cycle. Other investors included Sequoia Capital India and existing investors including STV, Endeavor Catalyst and Vision Ventures.

FOODICS Raises $170 million in Largest SaaS Series C Round in MENA

Khobar-based Vision Ventures has announced investment in Bahraini crypto exchange Rain. The investment is part of an ongoing seven-figure (US Dollar) seed round that Rain is expected to close within the next few weeks, the startup told MENAbytes.

Founded in 2017 by Abdullah Almoaiqel, Yehia Badawy, Joseph Dallago and AJ Nelson, Rain is currently available as a private beta. Along with few other crypto exchanges, Rain is currently part of Central Bank of Bahrain’s regulatory sandbox and hopes to receive a full license across GCC later this year.

Saudi’s Vision Ventures announces investment in Bahrain-based crypto exchange Rain

Rain, a Bahrain-based cryptocurrency exchange has closed its $2.5 million seed round, it announced in a statement to MENAbytes. The round was co-led by BitMEX Ventures, the investment arm of the BitMEX, which is a cryptocurrency derivatives trading platform and Kuwait-based cryptocurrency fund, Blockwater. Some other regional investors including Vision Ventures, 500 Startups (MENA), and Taibah Valley also joined the round.

Bahrain’s Rain closes $2.5 million seed round, becomes first licensed cryptocurrency exchange in the Middle East

Rain Financial, a Bahrain-based cryptocurrency exchange, announced one r the weekend it secured $6 million through its Series A funding round, which was led by Middle East Venture Partners (MEVP) with participation from Coinbase, Vision Ventures, CMT Digital Ventures, Abdul Latin Jameel Fintech Ventures, and DIFC Fintech Fund.

Bahrain-Based Crypto Exchange Rain Secures $6 Million Through Series A Investment Round Led By Middle East Venture Partners

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.”

Tamara raises $6 million in seed funding

UAE-based Immersive video mobile app 360VUZ, has raised an undisclosed amount of funding as part of a bridge round from Knollwood, Impact46, and DAI. This latest investment brings the startup’s total funding raised to date to $8.4 million. According to Crunchbase, the company raised $7.2 million in its Series A round. 

Other investors include Shorooq Partners, KBW Ventures, Media Visions, AlTouq Group, Vision Ventures, Hala Ventures, 500Startups, Magnus Olsson, Samih Toukan, Jonathan Labin, DTEC Ventures, Plug and Play Ventures, Al Rashid family and other strategic angel investors.

Founded in 2017, The 360VUZ Teleporter mobile app has been adopted in more than 25 countries with a significant increase in user engagement and revenues month over month. The app leverages immersive media such as virtual reality (VR), augmented reality (AR) and extended reality (XR) to disrupt the telecommunications market.

In Q3 2020, 360VUZ signed agreements with more than 25 new telecoms companies from around the world covering markets such as the UK, Spain, Malaysia, Indonesia, Kuwait, Turkey, Morocco, Algeria, and South Africa. The new agreements were aimed to ease out the subscription for 360VUZ users around the globe and enhance their immersive experience.

“We believe that now more than ever our mission is vital to help people and businesses from all around the world by removing barriers of TTA (Travel, Time and Access) using our immersive platform and technologies,” said Khaled Zaatarah, founder and CEO of 360VUZ.

Recently, 360VUZ has introduced a set of features on a monthly basis such as the celebrity voice chat feature and VIP chat feature, connecting its users to celebrities.

With the new capital infusion, the company will be able to further develop its immersive video app proprietary technology and innovative features, expand its global reach, and offer more personalized experiences to build a hyper-connected world.

“360VUZ is uniquely positioned to build a global success story. The company has already demonstrated success in building an innovative product that is capable of being highly scalable to different geographies globally,” said Chris Rogers, 360VUZ board member and mobile industry expert.

“With the rise of the entertainment sector in Saudi Arabia, 360VUZ is in a great position to capitalise on this opportunity with its innovative technology and offer a full virtual experience. We’re excited to share the journey with the 360VUZ team, and admire their desire and determination to explore various areas of partnership with both local and international enterprises and introducing a product to serve a global scale,”  said Abdulaziz Alomran, founding partner at Impact46.

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