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Vennre raises SAR 36 mn in a pre-Series A funding round
Homegrown wealth creation platform Vennre bagged USD 9.6 mn (SAR 36 mn) in a pre-Series A round, according to an emailed statement (pdf) to EnterpriseAM. Structured as a hybrid of equity and debt, the round was co-led by Vision Ventures and ANB Capital’s Seed Fund, with participation from Sanabil 500, Ace & Co, Plus VC, and individual investors.
About Vennre: Founded in 2021 by CEO Ziad Mabsout (LinkedIn), CDO Abdulrahman Al Malik (LinkedIn), and CIO Anas Halabi (LinkedIn), Vennre provides high earners who are not rich yet (HENRYs) with shariah-compliant access to curated private investment prospects traditionally limited to institutions and ultra-wealthy investors.
Yanbu wind farm secures USD 305 mn in JBIC-led financing
Riyad Al Sahil secured USD 305 mn in financing for the 700 MW Yanbu wind farm, according to a press release. The package, which includes USD 152 mn from the Japan Bank for International Cooperation (JBIC), alongside commercial lenders like Sumitomo Mitsui Trust Bank, Standard Chartered, and Bank of China, moves the project from a signed power purchase agreement into the construction phase. The facility will sell power to the Saudi Power Procurement Company under a 25-year contract.
Glamera to acquire Bookr, expanding its Gulf beauty and wellness footprint
Lifestyle tech platform Glamera Holding will acquire multi-market beauty services provider Bookr Group under an MoU to expand its GCC footprint, it said in a statement. Glamera will integrate the operations of Bookr Group, which operates in the Kingdom, Kuwait, and Bahrain, serving over 300k users, into its platform for better market penetration. This comes as Glamera eyes building a unified AI-driven ecosystem for providers in the beauty and wellness sector.
About Glamera: Co-founded in 2022 by CEO Mohamed Hijazi (LinkedIn) and CTO Omar Fathy (LinkedIn), with headquarters in Riyadh and Egypt, Glamera says it surpassed SAR 4 bn in processed transactions and now serves over 4.5k providers regionally.
