Last Updated on April 4, 2024 by Safiya K
- Daleel secured funding from Hambro Perks Spring Studios, indicating confidence in its potential to transform MENA’s financial services.
- Funds will drive growth in Saudi Arabia and the UAE, facilitating partnerships and essential licensing for regulatory compliance.
- Daleel’s platform aids consumers in finding financial products and assists institutions in optimizing customer acquisition strategies.
- Led by experienced founders, Daleel aims to revolutionize financial services, drawing on their success with Tarabut in the MENA region.
Daleel, a financial marketplace based in Bahrain, has recently announced that it has acquired an undisclosed investment round from Hambro Perks Spring Studios. The company was established in 2022 by Dania Alshowaikh, PK Shrivastava, and Ridaa Shah. Its focus is on aiding consumers in discovering and comparing financial products, while also facilitating banks and financial institutions in accessing insights to enhance customer acquisition strategies. This investment will catalyze Daleel’s expansion initiatives, particularly in Saudi Arabia and the UAE.
Investment Round and Participants
Daleel’s successful investment round has attracted support from Hambro Perks Spring Studios, a venture builder that is backed by Al Waha Fund of Funds, a global investment firm Hambro Perks, and Flat6Labs UAE, a seed and early-stage venture capital firm in the MENA region. These investments signify a vote of confidence in Daleel’s potential to revolutionize the financial services landscape in the Middle East and North Africa.
Platform Functionality and Vision
Daleel is designed to assist everyday individuals identify the most suitable financial products for their needs. It is also intended to empower banks and financial institutions to optimize customer acquisition strategies. Daleel aims to transform the traditional approach to financial services in the region by fostering a seamless and interconnected financial journey.
The vision of Daleel, led by CEO PK Shrivastava, COO Ridaa Shah, and CCO Dania Alshowaikh, is centered on narrowing the gap between consumers and financial institutions. The ultimate goal is to actualize personalized financial products tailored to the MENA market.
PK Shrivastava’s second venture in the region is Daleel, which marks the fourth in fintech for him. Daleel leverages the co-founders’ experience in scaling Tarabut as the largest open banking platform in MENA. Daleel is well-positioned to revolutionize customer acquisition strategies for financial institutions and empower consumers in their financial decisions across the region.
Impact and Potential
The investment secured by Daleel underscores the growing demand for innovative financial solutions in the MENA region. By leveraging advanced technology and deep insights, Daleel aims to empower individuals and businesses to achieve their financial goals. Furthermore, Daleel’s commitment to fostering innovation within the financial sector aligns with the broader objectives of investors like Hambro Perks Spring Studios and Flat6Labs UAE.
CEO’s Excitement and Outlook
PK Shrivastava, expressing his enthusiasm, highlighted the significance of securing investments from reputable entities like Hambro Perks Spring Studios and Flat6Labs. He emphasized the potential of this investment in forging essential financial partnerships and obtaining the Open Banking license necessary for Daleel’s growth strategy. Shrivastava eagerly anticipates the transformative journey ahead for Daleel, fueled by these recent developments.
Investor Perspectives
Zainab Khamis, Head of HP Spring Studios, expressed excitement about Daleel’s impact on the financial sector in MENA. She emphasized the transformative potential of Daleel’s innovative approach, underscoring the commitment to empowering local startups and driving economic growth in the region.
Ryaan Sherif, General Manager of Flat6Labs UAE, echoed this sentiment, expressing pride in supporting Daleel. He emphasized Flat6Labs’ dedication to investing in fintech companies that challenge traditional paradigms, highlighting Daleel’s commitment to innovation within the financial sector and its potential to benefit both financial institutions and consumers.
Altogether, Daleel’s recent investment round marks a significant milestone in its journey to revolutionize the financial services landscape in the MENA region. With strategic support from reputable investors and a visionary leadership team, Daleel is poised to drive positive change and empower individuals and institutions alike in their financial journey. The company’s focus on innovation, accessibility, and customer-centricity positions it as a key player in shaping the future of finance in Bahrain and beyond.
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