Arzan Venture Capital

Arzan Venture Capital, established in 2013 and based in Kuwait City, Kuwait, is a venture capital firm that focuses on investing in early-stage, innovative technology companies. As the corporate venture arm of Arzan Financial Group, it aims to build strong, lasting relationships with talented entrepreneurs while targeting investments in young and fast-growing tech teams. The firm's investment strategy includes managing a fund that seeks to support up to 18 companies, reflecting its commitment to fostering success in the technology sector.

Mohanad Elhartany

Senior Associate

Hasan Zainal

Founder and Managing Partner

Laith Zraikat

Partner

Past deals in Gulf Cooperation Council

Haseel

Series A in 2022
Haseel is a mobile-only e-commerce platform based in Riyadh, Saudi Arabia, that specializes in the delivery of fresh fruits and vegetables. Founded in 2018, Haseel offers users the convenience of ordering seasonal produce directly through its application, which emphasizes affordability and ease of use. The platform curates high-quality crops at competitive prices, catering to the needs of consumers in a digital age. By providing a straightforward ordering process and reliable delivery options, Haseel aims to enhance the grocery shopping experience for its users.

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.

Merit Incentives

Series A in 2021
Merit Incentives specializes in enhancing customer and employee engagement through a comprehensive platform that offers a variety of services, including customer loyalty programs, sales incentives, and fulfillment of gifts and rewards. Operating in the MENA region, the company employs innovative technologies to develop tailored engagement strategies aimed at boosting employee motivation and strengthening client relationships. By providing effective program design and implementation, Merit Incentives supports organizations in attracting new customers and retaining existing ones, ultimately fostering a more engaged and committed workforce.

Klaim

Seed Round in 2021
Klaim is an InsureTech platform that specializes in medical claim management and financing through its comprehensive software-as-a-service (SaaS) solution. The platform enhances revenue cycle visibility for healthcare providers, enabling them to reduce claim processing times and errors, ultimately leading to faster payments. By employing artificial intelligence, Klaim streamlines medical billing processes and predicts cash flows, helping providers minimize revenue losses from delayed or rejected insurance payments.

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.

Zid

Series A in 2021
Zid is a cloud-based multi-channel commerce platform tailored for small and medium-sized businesses in Saudi Arabia. Founded in 2017 and headquartered in Riyadh, Zid enables merchants to create their own branded eStores while integrating with various supply chain players. The platform offers a comprehensive suite of tools that allow users to manage products and inventory, process orders and payments, ship products, and build customer relationships. It also provides analytics and reporting features, facilitating data-driven decision-making, and offers access to financing options. Zid's mission is to simplify the entry of retailers into electronic commerce, making it accessible and professional for businesses in the region.

Zid

Series A in 2021
Zid is a cloud-based multi-channel commerce platform tailored for small and medium-sized businesses in Saudi Arabia. Founded in 2017 and headquartered in Riyadh, Zid enables merchants to create their own branded eStores while integrating with various supply chain players. The platform offers a comprehensive suite of tools that allow users to manage products and inventory, process orders and payments, ship products, and build customer relationships. It also provides analytics and reporting features, facilitating data-driven decision-making, and offers access to financing options. Zid's mission is to simplify the entry of retailers into electronic commerce, making it accessible and professional for businesses in the region.

FlexxPay

Seed Round in 2021
FlexxPay operates an online platform that enables employers to provide their employees with instant access to earned salaries and commissions before the regular payday. By allowing employees to access a portion of their already-earned wages as needed, FlexxPay aims to alleviate financial stress and address unavoidable expenses that may arise during a pay cycle. This cloud-based salary tracking solution offers an alternative to traditional payroll systems, giving businesses the flexibility to support their employees' financial well-being while enhancing overall workplace satisfaction.

Cartlow

Seed Round in 2020
Cartlow is an online marketplace based in Dubai, United Arab Emirates, that specializes in re-commerce by offering a platform for buying and selling refurbished, open-box, and certified goods. Founded in 2019, the company provides a wide range of products, including electronics, home appliances, apparel, books, and cosmetics. Cartlow focuses on sustainability by partnering with retailers to resell returned and overstock items, thereby reducing waste while offering customers significant discounts. The platform ensures quality by inspecting and certifying all products, providing warranties, and facilitating easy returns. Additionally, Cartlow allows users to sell their old mobiles for cash, promoting a circular economy. To further support retailers and enhance customer experiences, Cartlow has launched VASCART, which offers solutions aimed at improving inventory management and customer retention.

iKcon

Seed Round in 2020
iKcon – Innovative Kitchen Concepts – utilizes a network of smart kitchens in prime locations to quickly “extend the reach” of amazing F&B brands. Our modern kitchen spaces are kitted with the latest equipment utilizing smart tech solutions and staffed by highly trained chefs & customer service teams. Our infrastructure is supported by Procurement & Storage Facilities, Central Production Units, and Customer Service Centers.

Crowd Analyzer

Series A in 2019
The 1st fully automated social web monitoring platform that support Arabic language with it's different dialects as well as supporting English. The innovation comes from the ability to automatically understands Arabic text in terms of relevance, dialect and sentiment.

Zid

Seed Round in 2019
Zid is a cloud-based multi-channel commerce platform tailored for small and medium-sized businesses in Saudi Arabia. Founded in 2017 and headquartered in Riyadh, Zid enables merchants to create their own branded eStores while integrating with various supply chain players. The platform offers a comprehensive suite of tools that allow users to manage products and inventory, process orders and payments, ship products, and build customer relationships. It also provides analytics and reporting features, facilitating data-driven decision-making, and offers access to financing options. Zid's mission is to simplify the entry of retailers into electronic commerce, making it accessible and professional for businesses in the region.

Inagrab

Seed Round in 2019
Inagrab, Inc. is a data analysis company based in Lewes, Delaware, founded in 2017. It specializes in providing an online platform that helps retailers optimize their sales performance through a user-friendly dashboard that offers insights, tracks sales data, and generates leads. Inagrab also focuses on connecting businesses with a unique sales force composed of individuals from the community, particularly targeting unemployed youth in the MENA region. Their core product, Dalooni, empowers these individuals to earn income while contributing to business development without the traditional salary structure. Additionally, Inagrab offers marketing consulting services to further support its clients in enhancing their business strategies and outcomes.

paymennt.com

Seed Round in 2019
PointCheckout Holding Company Ltd, founded in 2017 and based in Dubai, United Arab Emirates, operates as an innovative online payment gateway specifically designed for loyalty and reward points. It allows users to redeem and spend their reward points seamlessly within a network of participating merchants. This platform was established to address the limitations in the redemption processes of various reward programs, including those offered by banks, telecoms, and airlines. By integrating just once into the PointCheckout network, reward programs can easily expand their redemption options, providing customers with greater flexibility and convenience when shopping online. PointCheckout thus simplifies the use of reward points, enabling customers to enjoy their rewards across a diverse range of online retailers.

MUNCH:ON

Series A in 2019
MUNCH:ON is a food tech startup that has cracked the subscription space in the UAE & KSA, focusing on offering meals from the best restaurants at a significant discount and with free delivery. The company has invested heavily in its scheduling, bundling and order prediction software which has enabled it to achieve massive cost savings for its restaurant partners that they then pass on to their users, often offering up to a 55% discount vs. restaurants' regular price. Whether it's employees ordering from their company's curated menu or users ordering for their families at home, the platform takes the usual hassle and cost out of food delivery in a financially (and environmentally) sustainable manner for all stakeholders

TruKKer

Seed Round in 2018
TruKKer operates a digital freight network designed to enhance land freight services by integrating demand and supply through real-time data analytics. The platform simplifies logistics and fleet management by connecting shippers with available transporters, ensuring optimal asset utilization while reducing transportation costs. By leveraging data, TruKKer promotes reliability and transparency in the logistics process, creating opportunities for cost savings and improved efficiency. Its rapid growth is facilitating data monetization and consolidated procurement, allowing businesses to navigate cross-border transportation with greater ease.

Crowd Analyzer

Seed Round in 2018
The 1st fully automated social web monitoring platform that support Arabic language with it's different dialects as well as supporting English. The innovation comes from the ability to automatically understands Arabic text in terms of relevance, dialect and sentiment.

Reportcard

Seed Round in 2018
Reportcard, Inc. is a technology company based in Dubai, United Arab Emirates, that specializes in developing a student management system tailored for the education sector. Since its founding in 2017, the company has aimed to enhance educational operations by providing a platform that facilitates communication among administrators, teachers, parents, and students. The system is designed to organize and manage student information effectively, helping educational institutions—ranging from boutique performing arts academies to larger school consortia—leverage technology and data analytics for improved operational efficiency. Reportcard's tools also focus on monitoring student progress, identifying strengths and areas for improvement, and generating detailed reports. This enables educators to personalize their teaching methods and fosters greater student engagement in the learning process.

Qoyod

Seed Round in 2018
Qoyod is a cloud-based accounting software provider based in Riyadh, Saudi Arabia, established in 2016. The platform is designed to meet the needs of startups and small to medium-sized enterprises (SMEs) within the Kingdom of Saudi Arabia. Qoyod enables users to issue invoices, manage expenses and budgets, and automatically generate corresponding journal entries. Additionally, it allows users to create financial statements and business reports to fulfill commercial and statutory requirements. The software also offers features such as purchase order issuance, stock management, point of sale services, and user management for approvals and permissions. Clients can access a variety of accounting services through flexible monthly or annual subscription packages.

Armada Delivery Solutions

Seed Round in 2018
Armada Delivery Solutions is a technology company based in Kuwait City, Kuwait, that specializes in on-demand and crowd-sourced delivery services. Founded in 2016, the company operates a marketplace for last-mile delivery, connecting businesses seeking delivery solutions with a diverse pool of freelance and professional couriers. Utilizing a web-based logistics platform, Armada aggregates a fleet of private cars and freelance drivers to facilitate efficient deliveries. Additionally, the company offers a logistics API and enterprise fleet management solutions to its partners and clients. Armada targets local businesses in need of delivery services and freelancers who wish to earn extra income by utilizing their vehicles for deliveries.

TruKKer

Seed Round in 2017
TruKKer operates a digital freight network designed to enhance land freight services by integrating demand and supply through real-time data analytics. The platform simplifies logistics and fleet management by connecting shippers with available transporters, ensuring optimal asset utilization while reducing transportation costs. By leveraging data, TruKKer promotes reliability and transparency in the logistics process, creating opportunities for cost savings and improved efficiency. Its rapid growth is facilitating data monetization and consolidated procurement, allowing businesses to navigate cross-border transportation with greater ease.

MUNCH:ON

Seed Round in 2016
MUNCH:ON is a food tech startup that has cracked the subscription space in the UAE & KSA, focusing on offering meals from the best restaurants at a significant discount and with free delivery. The company has invested heavily in its scheduling, bundling and order prediction software which has enabled it to achieve massive cost savings for its restaurant partners that they then pass on to their users, often offering up to a 55% discount vs. restaurants' regular price. Whether it's employees ordering from their company's curated menu or users ordering for their families at home, the platform takes the usual hassle and cost out of food delivery in a financially (and environmentally) sustainable manner for all stakeholders

The Luxury Closet

Series B in 2016
The Luxury Closet is an online marketplace specializing in the buying, selling, and consignment of luxury items, primarily pre-owned, at discounted prices. This platform is notable for its commitment to maintaining brand integrity and ensuring the authenticity of every item. As the first of its kind in the Gulf Cooperation Council (GCC) region, The Luxury Closet has rapidly established a significant market presence and scalability, achieving impressive growth in a short timeframe. By providing customers with access to authentic designer goods at more affordable rates, The Luxury Closet caters to luxury consumers seeking value without compromising on quality.

Wrappup

Seed Round in 2016
Wrappup uses AI to auto-summarize your meetings, declaring war on pens everywhere! The platform uses a combination Speech Analysis, NLP, and Deep Learning models to identify important moments in discussion. Just invite lucy@wrappup.ai to your next call, and she’ll listen for keywords like “follow-up” or “next steps” to generate all the action items for you. Users can train the system with their own set of keyword triggers and vocabulary, making Lucy smarter and smarter as she grows!

boxit.co

Seed Round in 2016
Boxit Technology FZ-LLC operates an online platform that connects individuals seeking additional storage for their personal belongings with logistics companies that have available space. Founded in 2015 and based in Dubai, the platform allows users to manage their items through an online visual catalog, where they can select boxes, schedule pickups, and arrange for delivery of their stored items. Boxit offers a convenient and flexible storage solution, ensuring that possessions are stored securely and can be easily transported as needed. The service includes options for packing and pickup directly from users' homes, making the storage process efficient and user-friendly.

Careem

Series C in 2015
Careem is an online booking platform that connects passengers with local drivers, providing a marketplace where users can request rides within minutes. Founded on June 15, 2012, by Abdulla Elyas, Magnus Olsson, and Mudassir Sheika, the company is headquartered in Dubai, United Arab Emirates. Careem's platform allows passengers to view ride costs upfront and facilitates payment through their chosen credit card, making transportation both accessible and convenient. The service aims to offer affordable transportation options to its users by leveraging a community-driven network of drivers.
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