Saudi's RasMal Secures $4.8 Million in Pre-Series A Funding for Its Cap Table Management Software Solution
RasMal, a fintech startup based in Riyadh, has announced that it has raised $4.8 million in a pre-Series A round. The funding round was led by Syndicate Element Holding Group (SHG).
Founded in 2019 by Basil Alkuraya and Nasser Al-Tamimi, RasMal operates Pentugram, a platform that provides deal flow management and investor reporting tools for venture capital funds, angel investors, incubators, and accelerators. The innovation behind RasMal lies in its cutting-edge software, which serves as the first cap table management and investment governance platform in the MENA region.
The platform streamlines managing ownership stakes and investor relations for startups and investors in the region, addressing a key gap in financial infrastructure. RasMal offers a variety of tools, including those for managing employee stock option plans (ESOP), AI-driven company valuation modeling, and automated legal documentation.
Last year, RasMal acquired Pentugram, further expanding its suite of services. With the latest funding, the company plans to scale its operations and continue its mission to empower startups and investors with innovative technological solutions.
Nasser Al-Tamimi, co-founder of RasMal, stated, "This investment reflects our commitment to empowering startups and investors with innovative technological solutions." Mohammed Abdullah, CEO of SHG, added, "Our investment in RasMal is a significant step toward empowering startups and investors through AI-driven financial governance."
The MENA region has seen a surge in startup activity in recent years, and RasMal's solutions are poised to play a crucial role in the region's burgeoning tech ecosystem. With its advanced cap table management and investment governance tools, RasMal is set to make a lasting impact on the financial landscape of the MENA region.
RasMal, in its mission to empower startups and investors with innovative technological solutions, plans to scale its operations funded by the $4.8 million investment received in the pre-Series A round, led by Syndicate Element Holding Group (SHG). The company's advanced cap table management and investment governance tools, such as those for managing employee stock option plans (ESOP), AI-driven company valuation modeling, and automated legal documentation, are expected to make a significant impact on the financial landscape of the MENA region, addressing a key gap in financial infrastructure within the region.
