# Manafea Group Finance Company

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/manafea-group-finance-company

- Industry: Financial Services
- Headquarters: Riyadh, Saudi Arabia
- Website: www.manafa.co
- Total disclosed funding: $28M
- Latest round: Series A (Dec 28, 2022)
- Investors on record: 2

## About

Based in Riyadh, Saudi Arabia, and founded in 2018 by its CEO Abdulaziz Al-Adwani, Manafea Group Finance Company operates as a financial technology company that offers equity and debt financing services, particularly for small and medium enterprises, using a crowd-funding platform model. In December 2022, Manafa raised SAR 106 million in series A funding co-led by Saudi Aramco Entrepreneurship Ventures and STV. As of December 2022, the company has funded more than 180 SMEs, with total funding of more than SAR1.5 Billion through its platforms with the participation of more than 100,000 retail and institutional investors.

Manafea Group Finance Company offers a proprietary platform and religion platform to fulfill the needs of SMEs in various sectors by offering debt and equity financing based on a crowdfunding model and allows institutional investors like financial institutions and investment funds or Individual Investors to access SME financing opportunities through debt and equity securities. 

The company plans to use the series A funding to facilitate its growth in Saudi Arabia, attract more investors, and develop more financial products.

## Funding rounds

- Series A, Dec 28, 2022, $28M — Saudi Aramco Entrepreneurship Ventures, STV

## Investors

- Saudi Aramco Entrepreneurship Ventures (https://capitalatlas.ai/funds/saudi-aramco-entrepreneurship-ventures) — Series A
- STV (https://capitalatlas.ai/funds/stv) — Series A