Pitchlabz

Types of Special Licences: Foreign businesses in Saudi Arabia may need to obtain special Licences in addition to the standard 13 Licences (e.g., commercial, service), depending on their specific industry sector and business activities. Examples include licences for opening hospitals, food warehouses, or sports centres. Special Licence Application Process: The application for specialized Licences involves […]

Mila Celebrations, a Saudi Arabia-based event planning platform, has successfully raised $227,000 in a pre-Seed funding round from angel investors. Founded in early 2024 by Muhammad Ghourbal, the platform has organized over 1,000 events, including weddings and birthdays, tapping into Saudi Arabia’s lucrative event market, valued at over SAR50 billion annually. The investment will be […]

SHIFT, a Saudi Arabia-based mobility startup founded in 2017, has secured $82.8 million in investment from Merak Capital to enhance its technology-driven mobility solutions, which include car-sharing, chauffeur services, and logistics. The company operates in 57 cities across Saudi Arabia with a fleet of over 12,000 vehicles, making significant contributions to the country’s Vision 2030 […]

Darent, a Saudi Arabia-based proptech company founded in 2021, has successfully closed a Seed funding round led by Al Tawuniya Insurance, with participation from Morgan Stanley Inclusive Ventures Lab and BIM Ventures, aimed at enhancing its property management platform for rental properties. The company plans to utilize the new funding to improve its AI technology […]

Key Steps for Company Formation: Starting a business in Saudi Arabia involves obtaining an investment/MISA licence, choosing business activities per the licence type, selecting a trade name, and establishing managerial authority. Investment/MISA Licence Importance: Foreign investors with non-GCC shareholders must secure an investment/MISA licence to legally operate in Saudi Arabia, as it varies based on […]

HissaTech, a Saudi Arabia-based proptech startup, successfully raised $670,000 in a pre-seed funding round, led by angel investors. Founded by Ali Alshareef in 2024, HissaTech’s platform enables individuals to co-own real estate properties, providing access to rental income and capital gains while reducing investment barriers for smaller investors. The company plans to use the funding […]

Reachware, a Saudi Arabia-based SaaS provider founded in 2021, has raised $3 million in Seed funding, primarily led by Sadu Capital, with participation from 500 Sanabil Investments and Elm Company. The company specializes in automation and system integration, offering services like system integration, process automation, and advanced analytics to enhance operational efficiency for businesses. With […]

Acquisition Announcement: Tabby, a leading fintech in Saudi Arabia, has finalized an agreement to acquire Tweeq, a digital wallet licensed by the Saudi Central Bank (SAMA), during a prominent fintech event in the country. Expansion of Services: This acquisition will enhance Tabby’s financial offerings by integrating Tweeq’s digital wallet, allowing for the provision of digital […]

Fundraising Success: Malaa, a fintech company based in Saudi Arabia, secured $17.3 million in a Series A funding round, led by SNB Capital and supported by other investors such as Derayah Financial and Khwarizmi Ventures. Wealth Management Focus: Founded in 2021, Malaa provides a wealth management platform designed to help individuals and organizations make informed […]

Funding Achievement: Syarah, a Saudi Arabia-based autotech company, has successfully raised $60 million in a Series C funding round, led by Artal Capital, increasing its total investment to over $82 million since its founding in 2015. Business Model and Growth: Founded by Salah Sharef and Fayez Al-Anazi, Syarah transitioned from a classified ads platform to […]