RasMal, a Saudi-based fintech startup, closed a $4.8 million (18 million SAR) Pre-Series A investment round led by Syndicate Element Holding Group (SHG).

More to Know:

• Nasser AlTamimi, Basil AlKuraya, and Salem Aljawini founded RasMal in 2019.
• RasMal’s platform provides digital solutions to help private companies automate cap table management, fundraising, and equity transfers, while also supporting investors and private funds in managing investment opportunities and investor relations.
• The investment aims to introduce new tools and services to streamline fundraising processes and equity transfers.
• Last year, RasMal fully acquired Pentugram platform which provides deal flow management and investor reporting/relations tools for venture capital funds, angel investors, incubators, and accelerators.
• RasMal is part of the Saudi Unicorns Program, launched by the Misk Foundation, the Ministry of Communications and Information Technology, and the National Technology Development Program in Saudi Arabia.

Related Comments:

• Mohammed Abdullah, CEO of SHG, stated: “Our investment in RasMal is a significant step toward empowering startups and investors through AI-driven financial governance. By integrating RasMal’s automated cap table management with our investment expertise, we are creating a more transparent and efficient investment ecosystem.”
• Nasser Al-Tamimi, Co-Founder of RasMal, commented: “This investment reflects our commitment to empowering startups and investors with innovative technological solutions that enhance the efficiency of cap table management and investment governance. Through our partnership with SHG, we will accelerate the adoption of automation in fundraising and equity transfers, adding significant value to the investment ecosystem in the region. We believe that fintech is the key to advancing the business and investment sector, and we will work with our strategic partners to drive a digital transformation that aligns with Saudi Vision 2030.”