Shorooq Partners

Shorooq Partners, established in 2017 and headquartered in Abu Dhabi, operates as a venture capital firm with additional offices in Riyadh, Manama, Cairo, and Dubai. The firm specializes in early-stage investments and venture debt, focusing on sectors such as technology, fintech, game tech, climate, cleantech, cryptocurrency, and web 3.0. Shorooq Partners has successfully built a portfolio that has generated over $1.5 billion in equity value, supported by investments from some of the world's leading sovereign wealth funds.

Tamer Azer

Partner

Kunal Savjani

Managing Partner

Omer Zabit

Principal

Past deals in Saudi Arabia

Retailo

Series A in 2022
Retailo is an online business-to-business marketplace focused on enhancing the retail supply chain in the MENAP region. Founded in 2020 and headquartered in Riyadh, Saudi Arabia, the company leverages technology to streamline and improve the processes involved in retail distribution. By providing a digital platform for retailers and suppliers, Retailo aims to facilitate efficient transactions and better inventory management, ultimately contributing to the modernization of the retail sector in the area.

Lean

Series A in 2022
Lean Technologies Limited is a Saudi B2B company that specializes in providing a developer-friendly application programming interface (API) platform aimed at facilitating access to financial data and payment initiation for fintech companies. Founded in 2019 and headquartered in Riyadh, the company partners with financial institutions to create an integration layer that enhances existing systems while ensuring transparency and control over shared customer data. Lean offers a Universal API that allows fintechs to connect with multiple financial institutions through a single platform, thereby simplifying the integration process and enabling seamless access to users' bank accounts. This approach helps both developers and financial institutions navigate the complexities of financial infrastructure while maintaining oversight and security.

Penny Software

Seed Round in 2022
Penny Software, founded in 2020 and based in Riyadh, Saudi Arabia, specializes in developing a cloud-based procure-to-pay system known as Penny. This platform streamlines the entire procurement process, enabling organizations to digitize and manage their procurement cycle from request to approval. Key features of Penny include an action-driven dashboard, budget tracking, customizable reporting, a product comparison tool, and a structured timeline. The system is designed to simplify procurement activities, allowing users to manage requests for quotations, compare vendor offers, issue purchase orders, and process payments efficiently. Penny Software caters primarily to mid-sized enterprises, offering a modular and customizable solution that supports both private and public marketplaces, as well as procurement shared services.

Lendo

Secondary Market in 2022
Lendo is a fintech company that offers a peer-to-peer lending platform with core focus towards SMEs' debt finance. Its platform provides a variety of financing products for SMEs with an initial focus on pre-invoicing finance. The company was founded in 2019 and is based in Saudi Arabia.

Lean

Funding Round in 2021
Lean Technologies Limited is a Saudi B2B company that specializes in providing a developer-friendly application programming interface (API) platform aimed at facilitating access to financial data and payment initiation for fintech companies. Founded in 2019 and headquartered in Riyadh, the company partners with financial institutions to create an integration layer that enhances existing systems while ensuring transparency and control over shared customer data. Lean offers a Universal API that allows fintechs to connect with multiple financial institutions through a single platform, thereby simplifying the integration process and enabling seamless access to users' bank accounts. This approach helps both developers and financial institutions navigate the complexities of financial infrastructure while maintaining oversight and security.

Retailo

Seed Round in 2021
Retailo is an online business-to-business marketplace focused on enhancing the retail supply chain in the MENAP region. Founded in 2020 and headquartered in Riyadh, Saudi Arabia, the company leverages technology to streamline and improve the processes involved in retail distribution. By providing a digital platform for retailers and suppliers, Retailo aims to facilitate efficient transactions and better inventory management, ultimately contributing to the modernization of the retail sector in the area.

Nuqtah NFT

Pre Seed Round in 2021
Pioneering NFT's in the Saudi Arabia with Nuqtah's NFT creative marketplace, with a goal to value the creative economy at the pedestal it should be at.

Retailo

Seed Round in 2021
Retailo is an online business-to-business marketplace focused on enhancing the retail supply chain in the MENAP region. Founded in 2020 and headquartered in Riyadh, Saudi Arabia, the company leverages technology to streamline and improve the processes involved in retail distribution. By providing a digital platform for retailers and suppliers, Retailo aims to facilitate efficient transactions and better inventory management, ultimately contributing to the modernization of the retail sector in the area.

Lendo

Series A in 2021
Lendo is a fintech company that offers a peer-to-peer lending platform with core focus towards SMEs' debt finance. Its platform provides a variety of financing products for SMEs with an initial focus on pre-invoicing finance. The company was founded in 2019 and is based in Saudi Arabia.

Retailo

Pre Seed Round in 2020
Retailo is an online business-to-business marketplace focused on enhancing the retail supply chain in the MENAP region. Founded in 2020 and headquartered in Riyadh, Saudi Arabia, the company leverages technology to streamline and improve the processes involved in retail distribution. By providing a digital platform for retailers and suppliers, Retailo aims to facilitate efficient transactions and better inventory management, ultimately contributing to the modernization of the retail sector in the area.

Retailo

Pre Seed Round in 2020
Retailo is an online business-to-business marketplace focused on enhancing the retail supply chain in the MENAP region. Founded in 2020 and headquartered in Riyadh, Saudi Arabia, the company leverages technology to streamline and improve the processes involved in retail distribution. By providing a digital platform for retailers and suppliers, Retailo aims to facilitate efficient transactions and better inventory management, ultimately contributing to the modernization of the retail sector in the area.

Lean

Seed Round in 2020
Lean Technologies Limited is a Saudi B2B company that specializes in providing a developer-friendly application programming interface (API) platform aimed at facilitating access to financial data and payment initiation for fintech companies. Founded in 2019 and headquartered in Riyadh, the company partners with financial institutions to create an integration layer that enhances existing systems while ensuring transparency and control over shared customer data. Lean offers a Universal API that allows fintechs to connect with multiple financial institutions through a single platform, thereby simplifying the integration process and enabling seamless access to users' bank accounts. This approach helps both developers and financial institutions navigate the complexities of financial infrastructure while maintaining oversight and security.

Yabi

Series B in 2017
Souqalmal.com LLC FZ operates a leading financial comparison website in the Middle East, providing consumers in the UAE and Saudi Arabia with the tools to search and compare various financial products. Founded in 2012 and headquartered in Dubai, the platform offers detailed information on credit cards, personal loans, car loans, bank accounts, mortgages, and various insurance options, including car, home, travel, and SME insurance. Users can obtain real-time quotes for insurance in under 60 seconds and have their policies issued within an hour. Souqalmal.com has also expanded its services to include mobile phone and broadband plans, as well as educational options like schools and nurseries. The company has received multiple awards for its innovative approach and has grown its insurance business significantly. With backing from notable investors and a proven track record, Souqalmal.com continues to empower consumers to make informed financial decisions.
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