Digitization of private market transactions in Dubai receives $4.3 million funding, spearheaded by Prosus
Zest Equity Secures $4.3 Million to Streamline Private Market Transactions
Zest Equity, a UAE-based private market infrastructure platform, has raised $4.3 million in a pre-Series A funding round. The funding round was led by Prosus Ventures, with participation from Morgan Stanley Inclusive & Sustainable Ventures (MSISV).
Founded in 2021 by Zuhair Shamma and Rawan Baddour, Zest Equity started as a marketplace for secondary share trading in startups. However, the company pivoted to a broader platform after facing challenges in the secondary transaction market and the need to capture more transaction volume.
The platform digitizes deal execution from onboarding investors to deal closing, aiming to remove friction from private investment deals. One of Zest's key offerings is the ability for multiple investors to pool their capital into a single legal vehicle (SPV), making collective investment in private companies more efficient.
Zest Equity has facilitated over $155 million in transaction value across more than 115 deals. The company grew from executing just five deals in 2022 to over 55 deals in 2024. This growth was supported by the recent funding round, which will be used for expansion in Saudi Arabia and the UAE, as well as scaling the technology infrastructure.
Rawan Baddour, Co-founder of Zest Equity, mentioned that MSISV's expertise will be crucial for scaling the company sustainably and compliantly as it expands its operations across the GCC. The founders emphasize reducing information asymmetry and using digital tools to make private transactions faster and more transparent.
Robin Voogd, Head of Middle East Investments at Prosus Ventures, stated that Zest Equity's vision aligns with their focus on supporting innovative financial infrastructure in high-growth regions. The platform digitizes processes that traditionally involve mountains of paperwork, multiple intermediaries, and high fees.
Zest Equity plans to hire specialized talent and develop new products to further enhance its platform and capture more transaction volume in the nascent but growing private market sector across the Middle East and North Africa. With this funding round, Zest Equity is well-positioned to become the "Stripe" for private market transactions, streamlining paperwork and communication for entrepreneurs, funds, and investors in MENA.
- The funding raised by Zest Equity will be used to expand in Saudi Arabia and the UAE, as well as scaling the technology infrastructure, demonstrating a commitment to finance growth in the region.
- With this funding round, Zest Equity aims to become the "Stripe" for private market transactions, leveraging digital tools to make these deals faster, more transparent, and less reliant on traditional financial institutions.
