Riyadh – Mubasher: Saudi proptech for labour housing solutions Mnzil has raised $11.70 million in a Series A round led by the US-based Founders Fund, with participation from COTU Ventures.
The new investment will be utilized to scale the startup’s operational footprint, including the development of a 22,000-sqm site slated for six new worker-housing buildings, according to a press release.
Founded in 2024 by Abdulmajeed Al Babtain and Abdulrahman Al Shaya, Mnzil has rapidly expanded its footprint across more than 13 cities, delivering integrated housing solutions tailored to the needs of companies across multiple sectors.
Meanwhile, the company serves more than 100 corporate clients, including Smasco, EFSIM, Barq, and Sixt.
The transaction marked Founders Fund’s first-ever investment in Saudi Arabia, reflecting growing international investor confidence in the Kingdom’s rapidly transforming service and infrastructure sectors under Vision 2030.
