Rizek Raises $10 Million in Series A Funding Round

Rizek Raises $10 Million in Series A Funding Round

Rizek, the UAE-based super app for on-demand home services has raised a $10 million Series A funding round, led by Peak Investments and ADQ, with participation from a number of family offices from the UAE and Saudi Arabia. The latest venture capital funding brings Rizek’s total financing to more than $15 million.

Abu Dhabi-based Rizek, which was founded in 2019 and went live last year, connects users to service professionals from a wide range of industries. Boosting the regional gig economy, it aims to increase job opportunities for part-time workers, allowing them to earn service-based income through the platform.

A super app is an ecosystem of many apps that are either built together or bundled through third-party integrations. They usually work with freelancers and SME service providers to improve their skills and help them land more opportunities.

Abdallah Abu-Sheikh, co-founder of Rizek commented “There are many service-based economies in the region, but what we have done differently is to ensure our processes are optimised and consistently up to date. Our mission is to be the one-stop shop for all services across the region, allowing both suppliers and consumers to maximise on their values and benefits.” 

Ahmed Mazrui, co-founder of Rizek, added “It is humbling to watch what first started as an idea on paper prosper into the revolutionary service provider it is today. This round of funding consolidates the emphasis of our platform as a product with a noteworthy impact on the e-commerce and service sector … [and] we look forward to further expanding upon its influence and success.”

Rizek will use the investment to increase the platform’s presence by integrating new services, improve customer experience and expand into Saudi Arabia and Egypt in the coming months, it added.

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