Manafa, a Saudi Arabia-based debt and Investment company, raised $28M in Series A funding.
The round was led by STV and Wa’ed Ventures.
The company intends to use the funds to accelerate its growth in Saudi Arabia, and expand its offering with the launch of several products and financing solutions in addition to doubling the number of investors on its platform.
Founded in 2018 by Abdulaziz Al-Adwan and Amr Murad, Manafa provides financial products tailored to fulfil the needs of SMEs in various sectors by offering debt and equity financing based on a crowdfunding model, which allows institutional investors like financial institutions and investment funds or Individual Investors to access SMEs financing opportunities through debt and equity securities.
To date, Manafa has funded more than 180 SMEs, with total funding of more than SAR1.5 Billion through its platforms with the participation of more than 100,000 retail and institutional investors.
The platforms are licensed by the Saudi Central Bank (SAMA) and the Saudi Capital Market Authority (CMA).
FinSMEs
31/12/2022