STV

STV is an independent venture capital investment firm based in Riyadh, Saudi Arabia, founded in 2018. It is anchored by STC, the largest telecom operator in the MENA region, granting access to essential assets such as network infrastructure, customer analytics, and an extensive customer base. This support enables STV to assist its portfolio companies in scaling their operations effectively. The firm focuses on investing in early and later-stage companies, with a particular emphasis on the information technology sector.

Ahmad AlNaimi

Partner

Waleed Alballaa

Partner

Ahmad Alshammari

Partner

Yazeed Alturki

Senior Associate

Nahim Bapikee

Investment Associate

Talal Damen

Senior Associate

Ihsan Jawad

General Partner

Abdulrahman Tarabzouni

Founder and CEO

Past deals in Western Asia

Tabby

Series E in 2025
Tabby Inc. is a financial technology company based in the United Arab Emirates that offers innovative payment solutions for online and offline shopping. The company specializes in a buy now, pay later service, providing consumers in the UAE and Saudi Arabia with flexible payment options. Customers can choose to pay for their purchases either in a single deferred payment or in multiple installments, allowing them to manage their spending and enhance their shopping experience. Through its platform, Tabby aims to reshape the relationship between consumers and money, promoting financial freedom and responsible spending.

Invygo

Series A in 2024
Invygo is the first and largest car subscription service in the MENA region, offering consumers an all-inclusive monthly subscription model through a user-friendly mobile app. Founded in 2018 in Dubai by Eslam Hussein and Pulkit Ganjoo, Invygo enables users to access passenger vehicles without the financial burdens associated with traditional car ownership. The platform allows for customizable month-to-month subscriptions, providing flexibility for users to return or upgrade their vehicles without penalties. Additionally, Invygo supports car dealers by offering a new business model that helps them generate revenue while minimizing depreciation and operational costs. Overall, Invygo aims to create accessible mobility options with a hassle-free experience for both consumers and dealers.

Salla

Venture Round in 2024
Salla is a Saudi-based e-commerce platform that empowers users to establish their own online stores in Arabic, facilitating the sale of products and services directly to customers. The platform allows users to create branded stores with personalized domain names and design options. Store owners can effectively manage their inventory through Salla’s website or mobile application. Additionally, Salla offers a variety of features, including marketing tools, automated invoicing, and performance reports, which aid merchants in enhancing their sales and customer engagement. Users benefit from capabilities such as customer database management, the ability to block customers, and options for promotions and discounts, all without incurring fees or commissions.

Noon Academy

Series B in 2023
Noon Academy operates an online learning platform that focuses on enhancing educational experiences for students in the Middle East. Founded in 2013 and headquartered in Riyadh, Saudi Arabia, with offices in Cairo, Egypt, and Bengaluru, India, the platform has successfully taught 12 million students. It offers a blend of free educational content and tutoring services, allowing students to study collaboratively in groups, compete with peers, and request on-demand tutoring. The platform is designed to prepare students for various examinations, including general aptitude and achievement tests. Additionally, Noon Academy supports teachers by enabling them to build followings and earn income based on their performance and student feedback. By integrating elements of peer-to-peer learning and advanced technology, Noon Academy aims to provide equitable access to high-quality education for every student.

SpiderSilk

Venture Round in 2023
spiderSilk Security is a cybersecurity firm based in Dubai, United Arab Emirates, founded in 2019. The company specializes in simulating advanced cyberattacks to help organizations strengthen their security defenses. By combining proprietary machine-driven technology with the expertise of ethical hackers, spiderSilk enhances its capability to identify security vulnerabilities in applications across both public and internal infrastructures. Their methodologies enable impactful simulations that have potential implications for millions of individuals. In addition to its simulation services, spiderSilk offers advisory services that provide organizations with critical insights into security weaknesses and recommend best practices for improvement. The firm continuously monitors assets and attack surfaces to ensure comprehensive protection against emerging threats.

Tabby

Series D in 2023
Tabby Inc. is a financial technology company based in the United Arab Emirates that offers innovative payment solutions for online and offline shopping. The company specializes in a buy now, pay later service, providing consumers in the UAE and Saudi Arabia with flexible payment options. Customers can choose to pay for their purchases either in a single deferred payment or in multiple installments, allowing them to manage their spending and enhance their shopping experience. Through its platform, Tabby aims to reshape the relationship between consumers and money, promoting financial freedom and responsible spending.

Tabby

Series C in 2023
Tabby Inc. is a financial technology company based in the United Arab Emirates that offers innovative payment solutions for online and offline shopping. The company specializes in a buy now, pay later service, providing consumers in the UAE and Saudi Arabia with flexible payment options. Customers can choose to pay for their purchases either in a single deferred payment or in multiple installments, allowing them to manage their spending and enhance their shopping experience. Through its platform, Tabby aims to reshape the relationship between consumers and money, promoting financial freedom and responsible spending.

Homzmart

Venture Round in 2022
Homzmart Ltd. is an e-commerce platform based in Cairo, Egypt, that specializes in selling home furniture, décor, lighting, and various home supplies. Founded in 2019, the company facilitates connections between homeowners and home professionals, allowing users to browse an extensive selection of products while accessing reviews, expert advice, and articles on home improvement. Homzmart aims to create a community-driven environment that enhances the shopping experience for home-related needs, offering a diverse range of quality products at competitive prices. Through its platform, the company seeks to simplify the process of home furnishing and improvement for its customers.

Foodics

Series C in 2022
Foodics is a technology company based in AlKhobar, Saudi Arabia, founded in 2014. It specializes in developing a cloud-based restaurant management system designed for iPads, catering to the needs of restaurants, food trucks, cafes, and fast-food chains across the Middle East. The platform offers comprehensive solutions including point-of-sale transactions, inventory management, employee scheduling, loyalty programs, e-commerce integration, and real-time operational oversight through a user-friendly dashboard. Foodics aims to enhance revenue generation and customer relationships for its clients by providing high-tech, easy-to-use tools that streamline restaurant operations.

Gathern

Series B in 2022
Gathern operates a vacation rental marketplace based in Riyadh, Saudi Arabia, founded in 2016. The platform enables users to easily book a diverse range of accommodations, including villas, chalets, apartments, farms, caravans, desert cottages, and campsites. Gathern allows property owners to list their rentals directly without the need for a rental license, providing a hassle-free way for hosts to monetize their properties. The service caters to travelers and adventure seekers looking for convenient and varied lodging options.

Gathern

Series A in 2022
Gathern operates a vacation rental marketplace based in Riyadh, Saudi Arabia, founded in 2016. The platform enables users to easily book a diverse range of accommodations, including villas, chalets, apartments, farms, caravans, desert cottages, and campsites. Gathern allows property owners to list their rentals directly without the need for a rental license, providing a hassle-free way for hosts to monetize their properties. The service caters to travelers and adventure seekers looking for convenient and varied lodging options.

Tabby

Series B in 2022
Tabby Inc. is a financial technology company based in the United Arab Emirates that offers innovative payment solutions for online and offline shopping. The company specializes in a buy now, pay later service, providing consumers in the UAE and Saudi Arabia with flexible payment options. Customers can choose to pay for their purchases either in a single deferred payment or in multiple installments, allowing them to manage their spending and enhance their shopping experience. Through its platform, Tabby aims to reshape the relationship between consumers and money, promoting financial freedom and responsible spending.

TruKKer

Series B in 2022
TruKKer is a technology-enabled truck aggregator based in Abu Dhabi, UAE, founded in 2016. The company operates a logistics and fleet management platform that simplifies road freight and logistics operations by integrating demand and supply for land freight services. TruKKer's platform connects shippers and carriers in real time, ensuring maximum utilization of available trucks and reducing overall transportation costs. The company's network, powered by real-time data analytics, enhances reliability and transparency while creating opportunities for data monetization and consolidated procurement. By offering end-to-end coverage and a comprehensive service portfolio, TruKKer facilitates cross-border transportation services for various end markets, benefiting both shippers and transporters alike.

Nana

Venture Round in 2022
Nana is an online grocery platform based in Saudi Arabia that specializes in providing doorstep deliveries of a diverse range of products. The platform offers an extensive selection of groceries, fruits, vegetables, cosmetics, electronics, bakery items, and flowers, allowing consumers to conveniently purchase items online. By focusing on home delivery, Nana aims to simplify the shopping experience for its users, making it easier for them to access essential goods from the comfort of their homes.

Sary

Series C in 2021
Sary is a digital business-to-business marketplace based in Riyadh, Saudi Arabia, that connects small and medium-sized enterprises with merchant wholesalers of fast-moving consumer goods (FMCG). Founded in 2018 by Mohammed Aldossary and Khaled AlSiari, Sary aims to streamline the supply chain in the wholesale industry, allowing businesses to efficiently procure inventory. Its mobile and web application offers a range of FMCG products, including beverages, oils, and snacks, facilitating orders from small quantities to truckloads with rapid delivery options, often within 24 hours. Sary serves a diverse clientele, including mini-market chains, hotels, restaurants, and convenience shops, and has expanded its operations to 12 major cities, catering to over 40,000 customers and partnering with more than 1,700 brands and wholesalers. The platform provides users with immediate price quotations and product comparisons, enabling them to manage their expenses effectively as their businesses grow.

Tabby

Series B in 2021
Tabby Inc. is a financial technology company based in the United Arab Emirates that offers innovative payment solutions for online and offline shopping. The company specializes in a buy now, pay later service, providing consumers in the UAE and Saudi Arabia with flexible payment options. Customers can choose to pay for their purchases either in a single deferred payment or in multiple installments, allowing them to manage their spending and enhance their shopping experience. Through its platform, Tabby aims to reshape the relationship between consumers and money, promoting financial freedom and responsible spending.

Sabbar

Funding Round in 2021
Sabbar Ltd. is an on-demand staffing platform based in Saudi Arabia that focuses on blue-collar jobs in the retail, hospitality, and entertainment sectors within the MENA region. The company provides an integrated solution for businesses to recruit casual staff during peak periods by connecting them with qualified and vetted professionals. Sabbar streamlines the recruitment process, alleviating administrative burdens associated with hiring, such as interviews, training, scheduling, and payment. By combining application software with strategic analytics and video communications, Sabbar aims to enhance productivity in candidate management and improve hiring outcomes for its clients.

Gathern

Series A in 2021
Gathern operates a vacation rental marketplace based in Riyadh, Saudi Arabia, founded in 2016. The platform enables users to easily book a diverse range of accommodations, including villas, chalets, apartments, farms, caravans, desert cottages, and campsites. Gathern allows property owners to list their rentals directly without the need for a rental license, providing a hassle-free way for hosts to monetize their properties. The service caters to travelers and adventure seekers looking for convenient and varied lodging options.

Sary

Series B in 2021
Sary is a digital business-to-business marketplace based in Riyadh, Saudi Arabia, that connects small and medium-sized enterprises with merchant wholesalers of fast-moving consumer goods (FMCG). Founded in 2018 by Mohammed Aldossary and Khaled AlSiari, Sary aims to streamline the supply chain in the wholesale industry, allowing businesses to efficiently procure inventory. Its mobile and web application offers a range of FMCG products, including beverages, oils, and snacks, facilitating orders from small quantities to truckloads with rapid delivery options, often within 24 hours. Sary serves a diverse clientele, including mini-market chains, hotels, restaurants, and convenience shops, and has expanded its operations to 12 major cities, catering to over 40,000 customers and partnering with more than 1,700 brands and wholesalers. The platform provides users with immediate price quotations and product comparisons, enabling them to manage their expenses effectively as their businesses grow.

Foodics

Series B in 2021
Foodics is a technology company based in AlKhobar, Saudi Arabia, founded in 2014. It specializes in developing a cloud-based restaurant management system designed for iPads, catering to the needs of restaurants, food trucks, cafes, and fast-food chains across the Middle East. The platform offers comprehensive solutions including point-of-sale transactions, inventory management, employee scheduling, loyalty programs, e-commerce integration, and real-time operational oversight through a user-friendly dashboard. Foodics aims to enhance revenue generation and customer relationships for its clients by providing high-tech, easy-to-use tools that streamline restaurant operations.

SpiderSilk

Seed Round in 2021
spiderSilk Security is a cybersecurity firm based in Dubai, United Arab Emirates, founded in 2019. The company specializes in simulating advanced cyberattacks to help organizations strengthen their security defenses. By combining proprietary machine-driven technology with the expertise of ethical hackers, spiderSilk enhances its capability to identify security vulnerabilities in applications across both public and internal infrastructures. Their methodologies enable impactful simulations that have potential implications for millions of individuals. In addition to its simulation services, spiderSilk offers advisory services that provide organizations with critical insights into security weaknesses and recommend best practices for improvement. The firm continuously monitors assets and attack surfaces to ensure comprehensive protection against emerging threats.

Tabby

Series A in 2020
Tabby Inc. is a financial technology company based in the United Arab Emirates that offers innovative payment solutions for online and offline shopping. The company specializes in a buy now, pay later service, providing consumers in the UAE and Saudi Arabia with flexible payment options. Customers can choose to pay for their purchases either in a single deferred payment or in multiple installments, allowing them to manage their spending and enhance their shopping experience. Through its platform, Tabby aims to reshape the relationship between consumers and money, promoting financial freedom and responsible spending.

Salla

Series A in 2020
Salla is a Saudi-based e-commerce platform that empowers users to establish their own online stores in Arabic, facilitating the sale of products and services directly to customers. The platform allows users to create branded stores with personalized domain names and design options. Store owners can effectively manage their inventory through Salla’s website or mobile application. Additionally, Salla offers a variety of features, including marketing tools, automated invoicing, and performance reports, which aid merchants in enhancing their sales and customer engagement. Users benefit from capabilities such as customer database management, the ability to block customers, and options for promotions and discounts, all without incurring fees or commissions.

Nana

Series B in 2020
Nana is an online grocery platform based in Saudi Arabia that specializes in providing doorstep deliveries of a diverse range of products. The platform offers an extensive selection of groceries, fruits, vegetables, cosmetics, electronics, bakery items, and flowers, allowing consumers to conveniently purchase items online. By focusing on home delivery, Nana aims to simplify the shopping experience for its users, making it easier for them to access essential goods from the comfort of their homes.

Vezeeta

Series D in 2020
Vezeeta is a digital healthcare platform based in Heliopolis, Egypt, that connects patients with healthcare providers across the Middle East and Africa, including Egypt, Saudi Arabia, Jordan, and Lebanon. Founded in 2011, the platform allows patients to search, compare, book, and review doctors, leveraging more than 200,000 verified reviews to enhance the decision-making process. Vezeeta offers a user-friendly experience, enabling patients to schedule appointments for in-clinic, virtual, or at-home consultations in as little as one minute. In addition to patient services, the company provides innovative software solutions for healthcare providers, facilitating clinic management and improving overall healthcare experiences. With features like live scheduling, automated appointment reminders, and comprehensive information on healthcare providers, Vezeeta aims to empower patients and enhance access to quality healthcare in the region.

TruKKer

Series A in 2019
TruKKer is a technology-enabled truck aggregator based in Abu Dhabi, UAE, founded in 2016. The company operates a logistics and fleet management platform that simplifies road freight and logistics operations by integrating demand and supply for land freight services. TruKKer's platform connects shippers and carriers in real time, ensuring maximum utilization of available trucks and reducing overall transportation costs. The company's network, powered by real-time data analytics, enhances reliability and transparency while creating opportunities for data monetization and consolidated procurement. By offering end-to-end coverage and a comprehensive service portfolio, TruKKer facilitates cross-border transportation services for various end markets, benefiting both shippers and transporters alike.

Noon Academy

Series A in 2019
Noon Academy operates an online learning platform that focuses on enhancing educational experiences for students in the Middle East. Founded in 2013 and headquartered in Riyadh, Saudi Arabia, with offices in Cairo, Egypt, and Bengaluru, India, the platform has successfully taught 12 million students. It offers a blend of free educational content and tutoring services, allowing students to study collaboratively in groups, compete with peers, and request on-demand tutoring. The platform is designed to prepare students for various examinations, including general aptitude and achievement tests. Additionally, Noon Academy supports teachers by enabling them to build followings and earn income based on their performance and student feedback. By integrating elements of peer-to-peer learning and advanced technology, Noon Academy aims to provide equitable access to high-quality education for every student.

MRSOOL

Series A in 2019
MRSOOL is an on-demand delivery platform based in Riyadh, Saudi Arabia, founded in 2015. The company enables users to order products from any store within its operational cities, facilitating the transportation of goods directly to consumers' doorsteps. MRSOOL has experienced significant growth, processing over 1 billion Riyals and serving more than 10 million users by early 2019. It pioneered a unique customer-to-customer network in the region, allowing users to describe their delivery needs through a chat-based interface. This innovative model empowers couriers to bid for delivery jobs, creating a scalable and self-regulating system that enhances user experience and operational efficiency.

Vezeeta

Series C in 2018
Vezeeta is a digital healthcare platform based in Heliopolis, Egypt, that connects patients with healthcare providers across the Middle East and Africa, including Egypt, Saudi Arabia, Jordan, and Lebanon. Founded in 2011, the platform allows patients to search, compare, book, and review doctors, leveraging more than 200,000 verified reviews to enhance the decision-making process. Vezeeta offers a user-friendly experience, enabling patients to schedule appointments for in-clinic, virtual, or at-home consultations in as little as one minute. In addition to patient services, the company provides innovative software solutions for healthcare providers, facilitating clinic management and improving overall healthcare experiences. With features like live scheduling, automated appointment reminders, and comprehensive information on healthcare providers, Vezeeta aims to empower patients and enhance access to quality healthcare in the region.

Telfaz11

Series A in 2018
Telfaz11 is a media production company based in Riyadh, Saudi Arabia, founded in 2011. It operates an Arabic multi-channel network that focuses on talent management, comedy, entertainment, and content creation. The company specializes in producing and distributing engaging online content, partnering with video platforms to deliver captivating series and films that resonate with local audiences while maintaining universal appeal. Telfaz11 influences social trends and provides opportunities for brands to promote themselves through its creative entertainment offerings, ensuring a blend of entertainment and brand promotion within its network.
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