Shorooq Partners

Founded in 2017 and based in Abu Dhabi, Shorooq Partners is a prominent investment firm specializing in venture capital and private credit across the Middle East and North Africa regions. With additional offices in Riyadh, Manama, Cairo, and Dubai, the firm focuses on investing in innovative technology companies, particularly in sectors such as fintech, gaming, climate, cleantech, and Web 3.0. Shorooq Partners emphasizes building partnerships with founders, supporting company development, and acting as value investors. The firm has established a strong portfolio, backing several market-leading disruptors including Pure Harvest Smart Farms and Tamara. Operating under a cohesive business name, Shorooq Partners comprises a group of affiliated companies, with its principal entity regulated by the Abu Dhabi Global Market Financial Services Regulatory Authority.

Tamer Azer

Partner

Omer Zabit

Principal

Nathan Kwon

Principal and Korea Lead

Tina Daher

Principal

Past deals in Saudi Arabia

Tamara

Series C in 2023
Tamara is a prominent shopping and payments platform based in Riyadh, Saudi Arabia, and serves the GCC region. Founded in September 2020 by Abdulmajeed Alsukhan and his partners, the company aims to revolutionize shopping, payment, and banking experiences. With a workforce of over 350 employees, Tamara operates additional offices in the UAE, Egypt, Germany, and Vietnam. The platform empowers merchants by providing flexible payment solutions, including installment options, through its application programming interfaces and plugins. This functionality enhances customer experiences and boosts sales for merchants. Tamara has established a robust customer base of 6 million and collaborates with over 15,000 partner merchants, which include both leading global brands and local small and medium enterprises. The company has successfully raised significant funding, highlighting its strong market presence and growth potential.

Lendo

Series B in 2023
Lendo is an alternative lending marketplace that helps digitally finance small and medium-sized enterprises (SMEs) in Saudi Arabia. Lendo was granted the first Crowdlending (debt financing) licensed in Saudi Arabia, and received the Excellence in Finance Leaders Award from FiNext Awards. Lendo’s products and solutions make everyday business activities easier, more secure, and more efficient for both investors and borrowers alike.

Retailo

Venture Round in 2023
Retailo is an online B2B marketplace focused on digitizing the retail supply chain in the MENAP region. Founded in July 2020 by former Careem executives, the company is headquartered in Riyadh, Saudi Arabia. Retailo has rapidly emerged as a leading startup, serving over 35,000 active retailers who can access more than 2,000 stock-keeping units (SKUs) through its app, with deliveries made within 24 hours of order placement. The company operates multiple warehouses across various cities in the MENAP region, managing a vast inventory from hundreds of brands, including direct partners. With a workforce of over 500 employees, Retailo processes tens of thousands of orders each month. Its mission is to simplify retail operations and enhance supply chain accessibility, aiming to unlock the earning potential of 10 million small and medium-sized enterprise retailers across the region and contribute to the overall economic growth.

Tamara

Debt Financing in 2023
Tamara is a prominent shopping and payments platform based in Riyadh, Saudi Arabia, and serves the GCC region. Founded in September 2020 by Abdulmajeed Alsukhan and his partners, the company aims to revolutionize shopping, payment, and banking experiences. With a workforce of over 350 employees, Tamara operates additional offices in the UAE, Egypt, Germany, and Vietnam. The platform empowers merchants by providing flexible payment solutions, including installment options, through its application programming interfaces and plugins. This functionality enhances customer experiences and boosts sales for merchants. Tamara has established a robust customer base of 6 million and collaborates with over 15,000 partner merchants, which include both leading global brands and local small and medium enterprises. The company has successfully raised significant funding, highlighting its strong market presence and growth potential.

Retailo

Convertible Note in 2022
Retailo is an online B2B marketplace focused on digitizing the retail supply chain in the MENAP region. Founded in July 2020 by former Careem executives, the company is headquartered in Riyadh, Saudi Arabia. Retailo has rapidly emerged as a leading startup, serving over 35,000 active retailers who can access more than 2,000 stock-keeping units (SKUs) through its app, with deliveries made within 24 hours of order placement. The company operates multiple warehouses across various cities in the MENAP region, managing a vast inventory from hundreds of brands, including direct partners. With a workforce of over 500 employees, Retailo processes tens of thousands of orders each month. Its mission is to simplify retail operations and enhance supply chain accessibility, aiming to unlock the earning potential of 10 million small and medium-sized enterprise retailers across the region and contribute to the overall economic growth.

Lean Technologies

Secondary Market in 2022
Lean Technologies Limited is a FinTech startup founded in 2019 and based in Riyadh, Saudi Arabia. The company specializes in developing an application programming interface (API) platform that facilitates access to consumer financial data. Its API suite addresses the complexities of fragmented financial infrastructure, allowing businesses to easily access their customers' financial information and execute instant bank transfers. Lean Technologies aims to improve the accessibility, transparency, and functionality of financial data and payment systems, contributing to a more inclusive and interconnected financial ecosystem for both consumers and businesses.

Tamara

Series B in 2022
Tamara is a prominent shopping and payments platform based in Riyadh, Saudi Arabia, and serves the GCC region. Founded in September 2020 by Abdulmajeed Alsukhan and his partners, the company aims to revolutionize shopping, payment, and banking experiences. With a workforce of over 350 employees, Tamara operates additional offices in the UAE, Egypt, Germany, and Vietnam. The platform empowers merchants by providing flexible payment solutions, including installment options, through its application programming interfaces and plugins. This functionality enhances customer experiences and boosts sales for merchants. Tamara has established a robust customer base of 6 million and collaborates with over 15,000 partner merchants, which include both leading global brands and local small and medium enterprises. The company has successfully raised significant funding, highlighting its strong market presence and growth potential.

Retailo

Debt Financing in 2022
Retailo is an online B2B marketplace focused on digitizing the retail supply chain in the MENAP region. Founded in July 2020 by former Careem executives, the company is headquartered in Riyadh, Saudi Arabia. Retailo has rapidly emerged as a leading startup, serving over 35,000 active retailers who can access more than 2,000 stock-keeping units (SKUs) through its app, with deliveries made within 24 hours of order placement. The company operates multiple warehouses across various cities in the MENAP region, managing a vast inventory from hundreds of brands, including direct partners. With a workforce of over 500 employees, Retailo processes tens of thousands of orders each month. Its mission is to simplify retail operations and enhance supply chain accessibility, aiming to unlock the earning potential of 10 million small and medium-sized enterprise retailers across the region and contribute to the overall economic growth.

Retailo

Series A in 2022
Retailo is an online B2B marketplace focused on digitizing the retail supply chain in the MENAP region. Founded in July 2020 by former Careem executives, the company is headquartered in Riyadh, Saudi Arabia. Retailo has rapidly emerged as a leading startup, serving over 35,000 active retailers who can access more than 2,000 stock-keeping units (SKUs) through its app, with deliveries made within 24 hours of order placement. The company operates multiple warehouses across various cities in the MENAP region, managing a vast inventory from hundreds of brands, including direct partners. With a workforce of over 500 employees, Retailo processes tens of thousands of orders each month. Its mission is to simplify retail operations and enhance supply chain accessibility, aiming to unlock the earning potential of 10 million small and medium-sized enterprise retailers across the region and contribute to the overall economic growth.

Lean Technologies

Series A in 2022
Lean Technologies Limited is a FinTech startup founded in 2019 and based in Riyadh, Saudi Arabia. The company specializes in developing an application programming interface (API) platform that facilitates access to consumer financial data. Its API suite addresses the complexities of fragmented financial infrastructure, allowing businesses to easily access their customers' financial information and execute instant bank transfers. Lean Technologies aims to improve the accessibility, transparency, and functionality of financial data and payment systems, contributing to a more inclusive and interconnected financial ecosystem for both consumers and businesses.

Lendo

Secondary Market in 2022
Lendo is an alternative lending marketplace that helps digitally finance small and medium-sized enterprises (SMEs) in Saudi Arabia. Lendo was granted the first Crowdlending (debt financing) licensed in Saudi Arabia, and received the Excellence in Finance Leaders Award from FiNext Awards. Lendo’s products and solutions make everyday business activities easier, more secure, and more efficient for both investors and borrowers alike.

Lean Technologies

Funding Round in 2021
Lean Technologies Limited is a FinTech startup founded in 2019 and based in Riyadh, Saudi Arabia. The company specializes in developing an application programming interface (API) platform that facilitates access to consumer financial data. Its API suite addresses the complexities of fragmented financial infrastructure, allowing businesses to easily access their customers' financial information and execute instant bank transfers. Lean Technologies aims to improve the accessibility, transparency, and functionality of financial data and payment systems, contributing to a more inclusive and interconnected financial ecosystem for both consumers and businesses.

Retailo

Seed Round in 2021
Retailo is an online B2B marketplace focused on digitizing the retail supply chain in the MENAP region. Founded in July 2020 by former Careem executives, the company is headquartered in Riyadh, Saudi Arabia. Retailo has rapidly emerged as a leading startup, serving over 35,000 active retailers who can access more than 2,000 stock-keeping units (SKUs) through its app, with deliveries made within 24 hours of order placement. The company operates multiple warehouses across various cities in the MENAP region, managing a vast inventory from hundreds of brands, including direct partners. With a workforce of over 500 employees, Retailo processes tens of thousands of orders each month. Its mission is to simplify retail operations and enhance supply chain accessibility, aiming to unlock the earning potential of 10 million small and medium-sized enterprise retailers across the region and contribute to the overall economic growth.

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 B2B marketplace focused on digitizing the retail supply chain in the MENAP region. Founded in July 2020 by former Careem executives, the company is headquartered in Riyadh, Saudi Arabia. Retailo has rapidly emerged as a leading startup, serving over 35,000 active retailers who can access more than 2,000 stock-keeping units (SKUs) through its app, with deliveries made within 24 hours of order placement. The company operates multiple warehouses across various cities in the MENAP region, managing a vast inventory from hundreds of brands, including direct partners. With a workforce of over 500 employees, Retailo processes tens of thousands of orders each month. Its mission is to simplify retail operations and enhance supply chain accessibility, aiming to unlock the earning potential of 10 million small and medium-sized enterprise retailers across the region and contribute to the overall economic growth.

Lendo

Series A in 2021
Lendo is an alternative lending marketplace that helps digitally finance small and medium-sized enterprises (SMEs) in Saudi Arabia. Lendo was granted the first Crowdlending (debt financing) licensed in Saudi Arabia, and received the Excellence in Finance Leaders Award from FiNext Awards. Lendo’s products and solutions make everyday business activities easier, more secure, and more efficient for both investors and borrowers alike.

Retailo

Pre Seed Round in 2020
Retailo is an online B2B marketplace focused on digitizing the retail supply chain in the MENAP region. Founded in July 2020 by former Careem executives, the company is headquartered in Riyadh, Saudi Arabia. Retailo has rapidly emerged as a leading startup, serving over 35,000 active retailers who can access more than 2,000 stock-keeping units (SKUs) through its app, with deliveries made within 24 hours of order placement. The company operates multiple warehouses across various cities in the MENAP region, managing a vast inventory from hundreds of brands, including direct partners. With a workforce of over 500 employees, Retailo processes tens of thousands of orders each month. Its mission is to simplify retail operations and enhance supply chain accessibility, aiming to unlock the earning potential of 10 million small and medium-sized enterprise retailers across the region and contribute to the overall economic growth.

Retailo

Pre Seed Round in 2020
Retailo is an online B2B marketplace focused on digitizing the retail supply chain in the MENAP region. Founded in July 2020 by former Careem executives, the company is headquartered in Riyadh, Saudi Arabia. Retailo has rapidly emerged as a leading startup, serving over 35,000 active retailers who can access more than 2,000 stock-keeping units (SKUs) through its app, with deliveries made within 24 hours of order placement. The company operates multiple warehouses across various cities in the MENAP region, managing a vast inventory from hundreds of brands, including direct partners. With a workforce of over 500 employees, Retailo processes tens of thousands of orders each month. Its mission is to simplify retail operations and enhance supply chain accessibility, aiming to unlock the earning potential of 10 million small and medium-sized enterprise retailers across the region and contribute to the overall economic growth.

Lean Technologies

Seed Round in 2020
Lean Technologies Limited is a FinTech startup founded in 2019 and based in Riyadh, Saudi Arabia. The company specializes in developing an application programming interface (API) platform that facilitates access to consumer financial data. Its API suite addresses the complexities of fragmented financial infrastructure, allowing businesses to easily access their customers' financial information and execute instant bank transfers. Lean Technologies aims to improve the accessibility, transparency, and functionality of financial data and payment systems, contributing to a more inclusive and interconnected financial ecosystem for both consumers and businesses.

VUZ

Series A in 2020
VUZ is a prominent immersive social application that specializes in delivering XR and Metaverse digital experiences, enhancing the realism of virtual interactions. Launched in 2017, the company operates from offices in Los Angeles, Dubai, and Riyadh. VUZ offers the world's largest premium library of exclusive immersive content, featuring over 20,000 hours of material that spans entertainment, creators, and sports, along with XR, VR, and AR experiences accessible from virtually anywhere. The platform's primary goal is to foster connections among users by providing authentic immersive experiences, effectively eliminating barriers related to travel, time, and access for billions globally. By streaming live events such as sports, talk shows, and music, VUZ enables users to engage with these experiences in a uniquely immersive manner, leveraging advanced technologies for an enriched social interaction.

Souqalmal

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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