Saudi proptech Mznil closes $11.7 million Series A

• Saudi Arabia-based proptech Mnzil has raised $11.7 million in a Series A round led by the US-based Founders Fund, in its first-ever investment in Saudi Arabia, with participation from COTU Ventures.
• Founded in 2024 by Abdulmajeed Al-Babtain and Abdulrahman Al-Shaya, Mnzil provides end-to-end worker-housing solutions.
• With the new investment, Mnzil will continue scaling its operational footprint, including the development of a 22,000-sqm site slated for six new worker-housing buildings, in partnership with local landowners to strengthen Saudi Arabia’s labour-accommodation infrastructure.

Press release:
Mnzil, the Saudi proptech for labour housing solutions, has raised over $11.7 million (SAR 44 million) in a Series A round led by Founders Fund, marking the US fund’s first-ever investment in Saudi Arabia, with participation from COTU Ventures.

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. The company now serves over 100 corporate clients, including Smasco, EFSIM, Barq, and Sixt, through an operational network of 60+ fully equipped buildings that meet high standards of comfort and safety — redefining the worker-housing experience in the Saudi market.

Mnzil also announced the development of a 22,000-sqm site to build six new workforce-housing buildings, in partnership with local landowners, as part of its strategy to expand and upgrade Saudi Arabia’s labour-accommodation infrastructure.
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The participation of Founders Fund marks a significant milestone for the Saudi startup ecosystem, signalling growing international investor confidence in the Kingdom’s rapidly transforming service and infrastructure sectors under Vision 2030.

​source[wamda]