Unipal Closes Pre-Series A Investment Round
Deal News | Feb 11, 2025 | Zawya
Unipal, a leading youth benefits platform in the GCC region, has successfully concluded its Pre-Series A funding round. The investment was led by Plus VC and included participation from several prominent investors, including Al Jazira Capital, RZM Investments, and Falak Angels. This funding will support Unipal's continued growth and expansion throughout Saudi Arabia, particularly in Jeddah, Madinah, Dammam, and Khobar. Unipal, which was launched in 2020, has rapidly expanded in Bahrain and Riyadh, amassing over 250,000 users and 700 brands. The company aims to enhance its mobile application to offer a more personalized, algorithm-driven experience for its users. Investors believe in Unipal's potential to redefine the youth market and contribute significantly to youth financial accessibility and the fintech ecosystem in the region.
Sectors
- Fintech
- Youth Engagement
- Technology
Geography
- Saudi Arabia – The article discusses Unipal’s expansion and growth across Saudi Arabian cities such as Riyadh, Jeddah, and others.
- Bahrain – Unipal was launched in Bahrain and has achieved significant market penetration there.
- GCC – Unipal aims to position itself as a leading youth benefits provider across the GCC region.
Industry
- Fintech – Unipal is involved in financial technology as it provides financial accessibility and benefits through its platform.
- Youth Engagement – The company's focus is on connecting brands with youth through a benefits platform, making it a key player in the Youth Engagement industry.
- Technology – Unipal's innovative app and algorithm-driven user personalization align it with the Technology sector.
Financials
- Pre-Series A – The stage of funding raised by Unipal in this round.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Unipal | Target Company | Company | A youth benefits platform that connects brands to young consumers. |
| Plus VC | Lead Investor | Company | A venture capital firm that led Unipal’s Pre-Series A funding round. |
| Al Jazira Capital | Investor | Company | Investment firm participating in Unipal’s Pre-Series A round. |
| RZM Investments | Investor | Company | An investment company involved in Unipal’s recent funding round. |
| Falak Angels | Investor | Company | An angel investment group that participated in Unipal’s funding round. |
| Doha Tech Angels | Investor | Company | An angel investment group participating in the Pre-Series A round. |
| Ali Alalawi | Cofounder of Unipal | Person | One of the founders of Unipal, commented on the growth strategy and investor participation. |
| Hasan Haider | Managing Partner at Plus VC | Person | Managing Partner at Plus VC who commented on Unipal’s investment opportunity. |
| Abdulla Alkasabi | CEO of RZM Investment | Person | CEO of RZM Investment commenting on Unipal's traction and innovation. |
| Adwa Aldakheel | CEO of Falak Investment Hub | Person | CEO of Falak Investment Hub commented on Unipal’s role in youth engagement. |
| Rawan AlRasheed | Head of Impact Lab at Al Jazira Capital | Person | Provided insights into Unipal's future role in the fintech ecosystem. |
| Labour Fund (Tamkeen) | Supporter | Government | Supported Unipal's participation in the LEAP Technology Conference. |