Bahrain Daleel Revolutionizes Financial Services in MENA with Major Investment

Bahrain Daleel Revolutionizes Financial Services in MENA with Major Investment

By Press Release, 04 April 2024

Daleel, MENA’s pioneering financial marketplace, has successfully secured investments from Hambro Perks Spring Studios, a venture builder backed by Al Waha Fund of Funds, and the global investment firm Hambro Perks, and Flat6Labs UAE, MENA’s seed and early-stage venture capital firm.

Daleel’s platform is focused on helping everyday individuals find the best financial products for themselves and help banks and financial institutions leverage deep insights to acquire customers more effectively. By creating a seamless and connected financial journey, Daleel is revolutionizing the landscape of financial services in the region, empowering both consumers and financial institutions alike to make informed decisions and achieve financial success.

The company's vision, led by its CEO - PK Shrivastava, COO - Ridaa Shah, and CCO - Dania Alshowaikh, is to narrow the gap between consumers and financial institutions, aiming to actualize personalized financial products in the region. Daleel, PK's second venture in the region and fourth in fintech, builds upon the co-founders' experience in scaling Tarabut as the largest open banking platform in MENA. With this background, Daleel is poised to transform customer acquisition for financial institutions and empower consumers in their financial choices across the region.

The investment round will enable Daleel to launch significant financial partnerships, which are crucial to the company's growth strategy. Furthermore, the investment will support Daleel's expansion initiatives in Saudi Arabia and the UAE, enabling the company to expedite its growth and obtain an Open Banking license.

PK Shrivastava, the CEO and co-founder of Daleel expressed his excitement “We are ecstatic to have secured investment from credible investors like Hambro Perks Spring Studios and Flat6Labs. This investment is a testament to our potential and the faith that key players in the industry have in our vision. It will enable us to forge significant financial partnerships and obtain the Open Banking license, crucial to our growth strategy. I am incredibly excited about these developments and look forward to the transformative journey ahead for Daleel."

Zainab Khamis, the Head of HP Spring Studios, has expressed her enthusiasm for the impact that Daleel is making: “We at HP Spring Studios are excited to support the launch of Daleel, a financial marketplace in the MENA region. This transformative step for the financial sector exemplifies our commitment to empowering and bolstering local startups. We firmly believe in Daleel's innovative approach, which promises not only to empower consumers but also to stimulate considerable economic growth in the region. Our commitment to Daleel's success symbolizes our dedication to fostering positive change and development in the region's fintech landscape in Bahrain”

Ryaan Sherif, General Manager of Flat6Labs UAE, is proud to be supporting the Company: "At Flat6Labs, our dedication to investing in FinTech companies that disrupt traditional paradigms is unwavering. This recent investment in Daleel exemplifies our belief in fostering innovation within the financial sector. By operating a marketplace with deep insights into consumer spending habits and leveraging open banking, Daleel ensures both financial institutions and consumers have access to the best offerings on the market."


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