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EgyptForas Acquires 36% Stake in Bahrain’s Beban Crowdfunding Platform
2 min
Foras, an investment firm focusing on innovative startups in MENA, acquired 36% of Beehive.
Beehive specializes in Islamic-compliant crowdfunding through Murabaha financing and equity crowdfunding.
Over $250,000 in funding has been raised through Beehive, backed by more than 5,000 investors.
The partnership is expected to expand Beehive’s services and enhance support for entrepreneurs.
The global crowdfunding market is projected to reach $40,03 billion by 2033.
Foras, a leading venture investment firm in the Middle East and North Africa, has acquired a significant 36% stake in Beban, a Bahrain-based crowdfunding platform licensed by the Central Bank of Bahrain. The deal is set to strengthen Beban’s position as a key player in alternative financing for startups and small businesses.
Beban provides crowdfunding solutions tailored for startups struggling with liquidity challenges. The platform offers financing through Murabaha—an Islamic-compliant funding method—as well as equity crowdfunding. With over $250,000 successfully raised through its platform, supported by more than 5,000 investors, Beban has become a crucial resource for businesses in Bahrain and the Gulf Cooperation Council (GCC) region.
The investment by Foras is expected to accelerate Beban’s expansion, leveraging Foras’s extensive network and expertise in venture funding. By joining forces, the two companies aim to provide entrepreneurs with better access to alternative financing options, fostering startup growth across multiple sectors.
Globally, the crowdfunding market is experiencing rapid expansion, with projections estimating its value to hit $40.03 billion by 2033. Meanwhile, the venture capital market in Africa alone is valued at $2.9 billion, with the SME credit sector reaching $450 billion. This growth underscores the increasing demand for innovative funding solutions like those offered by Beban.
With this strategic acquisition, Beban is poised to enhance its offerings and support more startups in securing the financial backing they need to succeed.
