- Saudi co-living platform Mnzil raises USD 11.7M Series A to expand tech-powered, affordable housing and transportation for workers.
- Founders Fund leads the round, joined by COTU Ventures and Waad Investment, supporting Mnzil’s scalable workforce housing model.
- Funding enables Mnzil to launch purpose-built developments, starting with a 22,000 m² site in partnership with landowners.
Mnzil
Saudi’s co-living and transportation platform, Mnzil, raised USD 11.7 million (SAR 44M) in a Series A funding round. The round was led by San Francisco’s Founders Fund with participation from COTU Ventures and Waad Investment.
Founded in 2024 by Abdulmajeed Al-Babtain and Abdulrahman Al-Shaya, Mnzil is a co-living and transportation platform for blue-collar workers in Saudi Arabia. It offers tech-powered, affordable and high quality housing options at scale.
Through its hybrid model of subleasing, building, and a C2B marketplace, it aims to help companies house and move their workforce. It aims to do so while lifting the operational burden from the companies. Additionally, it seeks to unlock income for landlords and real estate owners.
Investment
Founded in 2005 by Peter Thiel, Founders Fund is an American venture capital firm. It is most known for backing SpaceX, Airbnb, Palantir Technologies, Meta, Anduril, and OpenAI. The fund is currently investing from a USD 5.5 billion set of funds.
Looking ahead, with the new funding, it is now looking to expand through new purpose built developments. This is in partnership with landowners and real estate developers. This is beginning with a 22,000-square-meter site intended for six purpose-built buildings in collaboration with landowners.
“This round marks a major strategic step that supports our ambition to reshape workforce housing infrastructure and accelerate our expansion across the GCC,” said Abdulmajeed AlBabtain, CEO of Mnzil.
Bottom Line: Mnzil’s funding positions it to expand workforce housing and transportation solutions across Saudi Arabia and the broader GCC region.
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