Founders Fund Backs Mnzil’s $11.7M Series A, Eyes Saudi Growth Potential

Editorial Team

Last updated 25-11-2025

3 min

Mnzil raised over 44 million riyals in Series A, led by US-based Founders Fund.

Founded in 2024, Mnzil operates in over 13 cities, focusing on worker accommodation.

The startup manages 60+ buildings, partnering with firms like Smasco and Sixt.

They're expanding with 22,000 square metres of new accommodation space under development.

Founders Fund's entry highlights growing global investment interest in Saudi Arabia under Vision 2030.

Saudi startup Mnzil has closed a Series A round worth more than 44 million riyals, drawing in Founders Fund from the US as lead investor. It’s the fund’s first proper step into Saudi deal‑making, which, to be honest, feels spot on considering how lively the market has become. COTU Ventures also joined the round.

Mnzil only launched in 2024, founded by Abdulmajeed Al Babtain and Abdulrahman Al Shayea, yet it’s already spread its operations across more than 13 cities. The company focuses on worker accommodation, a sector that sounds simple on paper but is usually a bit of a faff in practice. They’ve built a model that handles the whole process end‑to‑end, and that seems to be resonating with clients.

From what’s been shared publicly, the startup now works with over 100 companies, including well‑known names like Smasco, EFSIM, Barq and Sixt. Its team oversees more than 60 fully equipped buildings designed around comfort and safety standards, which has started to shift expectations around housing for workers in Saudi Arabia. I remember chatting with a small logistics founder during an Arageek roundtable last year who said finding reliable housing for staff was one of his biggest operational headaches—so moves like this can make a real dent.

The company has also begun developing a new plot with 22,000 square metres of buildable space, aiming to add six more accommodation buildings to its network. This comes alongside partnerships with local landowners, which is quite a clever approach in a market where land availability can make or break expansion plans.

The arrival of Founders Fund is, in itself, one of the more interesting angles here. It signals that global investors are warming up fast to Saudi Arabia’s fast‑changing service and infrastructure landscape under Vision 2030. And believe it or not, I reckon this won’t be the last international fund we see testing the waters.

All in all, it’s a strong signal for local founders—proof that if you tackle a real operational pain point, even one that isn’t, well… glamorous, investors notice. And yes, I’m quietly chuffed to bits to see more of these stories coming out of the region, even if I did nearly spell “definately” wrong earlier.

🚀 Got exciting news to share?

If you're a startup founder, VC, or PR agency with big updates—funding rounds, product launches 📢, or company milestones 🎉 — AraGeek English wants to hear from you!