- Naeem closed an undisclosed pre-seed round led by Lunment and angel investors. The funding will support expanding its digital solutions for Saudi’s beauty sector.
- Founded in 2022, Naeem provides salons, barbershops, and spas with online booking, touchless payments, and other technology to improve operations.
- The startup plans to use the investment to develop more products, hire talent, and onboard vendors. Naeem also aims to expand across the Gulf as the regional self-care market surges.
Saudi Arabia – Naeem, a Saudi platform specializing in digital solutions for salons, barbershops, spas, and other personal care businesses, has closed an undisclosed pre-seed funding round. The round was led by venture capital firm Lunment and a group of angel investors.
Founded in 2022 by Abdullah Al Mansour (CEO) and Saleh Al Butti (Technical Director), Naeem aims to provide technical solutions to improve customer experience and operational efficiency for businesses in the personal care sector. The startup offers an integrated platform for point-of-sale systems, appointment booking, and financial and operational management.
“We are thrilled to close this financing round, which will aid our expansion efforts and cement our presence in this growing market,” said Al-Mansour. “The funding reflects strong confidence in Naeem’s mission to deliver innovation for beauty and wellness providers.”
The personal care industry in Saudi Arabia was valued at over $6 billion in 2021 and is forecast to grow around 10% annually. As increasing numbers of Saudis express interest in beauty and wellness, providers urgently need digital tools to manage their operations and provide excellent customer service.
Naeem is positioned to meet this demand. The company’s customer-centric solutions, such as online booking and touchless payments, can help vendors attract and retain loyal patrons. Its back-end technology also empowers businesses to track key metrics, identify growth opportunities, and boost productivity.
“We are fully committed to equipping salons, spas, and clinics with the best solutions on the market. Our products have already helped many providers transform their processes and customer experience,” said Al-Butti.
The new capital will allow Naeem to expand its suite of products, hire top talent, and onboard more beauty and wellness vendors. With the GCC personal care industry expected to reach $7 billion by 2025, the startup also plans to expand across the Gulf region.
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Last Updated on December 13, 2023 by Safiya K
