Darent, a Saudi-based platform, has closed a Seed funding round led by Tawuniya Insurance Company. Morgan Stanley Inclusive Ventures and BIM Ventures participated in the round.

Why it Matters? This is the first direct investment from Morgan Stanley Inclusive Ventures in a Startup in the region.

More to Know:

• Darent was launched in 2021 by Hanin AlSubaie.
• It is a vacation rental platform in Saudi Arabia.
• The platform plans to enhance its technological capabilities, develop artificial intelligence, and data analyzing algorithms to provide personalized recommendations to users and enhance guest experiences.
• A portion of the investment will be used for local and regional expansion.
• According to Darent, it has experienced significant growth in its user base and increased property occupancy rates, surpassing 90% during peak seasons.

Related Comments:

• Hanin Alsubaie, Founder and CEO of Darent Platform, expressed gratitude for the support, stating: “We are deeply thankful to our partners for their immense trust. This funding round is a significant step towards achieving our vision of revolutionizing the vacation rental sector by effectively enhancing the tourist experience and delivering pioneering solutions that elevate the quality of the tourism sector in the Kingdom”.
• Fahad Bin Maamer, Chief Investment Officer at Al Tawuniya Insurance, added: “We at Al Tawuniya are proud to lead Darent’s first funding round. We see enormous potential in this unique platform to drive innovation in the vacation rental field, which is a critical component of the Kingdom’s tourism sector. We look forward to supporting Darent’s efforts in creating a transformative impact on the local tourism scene in line with Vision 2030’s ambitions”.