• Foras acquires 36% of Beban to enhance startup funding access across MENA, focusing on Sharia-compliant Murabaha debt and equity crowdfunding.
• The Abu Dhabi-based investment firm aims to bridge SME funding gaps, leveraging AI and digital media for sustainable economic growth.
• Beban Crowdfunding will expand offerings with Foras’ support, strengthening alternative funding solutions and investor engagement in the GCC and beyond.

Foras

What is the deal? Foras, an Abu Dhabi investment firm, announced that it acquired 36% in Beban. With this, it aims to foster the growth of startups and enhance access to capital for entrepreneurs throughout the region.

“We aim to bridge the gap between SMEs seeking funding and regional individual and accredited investors as the Venture Capital funding market in Africa alone is valued at $2.9 billion while the SMEs credit group is valued at $450 billion, whereas the Crowdfunding market is expected to reach USD 40.03 billion by 2033. By providing innovative solutions to access funding through Sharia‘a compliant Murabaha debt and equity crowdfunding that will enable SMEs to solve their current liquidity issues and will pave the way for them to succeed and make a lasting impact.” said Mohamed Abouelnaga, Founder of Foras

Who are they? Foras is an investment firm based in Abu Dhabi and focused on innovative startups in the MENA region, Specifically,  the investment firm is committed to leveraging AI for sustainable growth. Moreover, founded in 2021 by Mohamed Nagaty, Foras aims to focus on developing advanced digital media and gaming products. 

Meanwhile, Beban Crowdfunding is a crowdfunding platform that aims to provide a unique take on equity investment. It features investment opportunities showcased on the Beban TV Show as well as opportunities from the local and regional ecosystem. Thus, the platform supports entrepreneurs in securing funding for their ventures.

Beban

What will they do with the funding?  With Foras’ investment, Beban aims to expand its offerings and further support the entrepreneurial ecosystem. This is through leveraging Foras’ record of increasing awareness in the region regarding investments through its media channels such as Elmal Elhalal podcast.

From his end, Sh. Hamed Mohamed AlKhalifa, Chairman of Hope Ventures Holding, the parent company of Beban, commented saying “Together, we are committed to fostering innovation and providing more with Beban Crowdfunding which has provided alternative funding for businesses in Bahrain and the GCC with over $250,000 secured from more than 5000 individual and corporate investors.”
Why does this matter? Beban and Foras aim for this acquisition to be a  step towards the development of new features and resources. Moreover, they aim to benefit both entrepreneurs seeking funding and investors looking for promising opportunities.