Riyadh - Sharikat Mubasher: The Saudi-based platform RasMal acquired the regional cloud-based SaaS platform Pentugram in a move to expand its offering into private capital investment management solutions, the Saudi platform revealed in a press release.

This acquisition represents a milestone in RasMal’s journey to empower the entrepreneurial ecosystem and streamline the fundraising and investment processes.

As per the agreement, Pentugram’s clientele will gain access to RasMal’s services, while RasMal will leverage the platform to enable investors and fund managers with feature-rich solutions for deal flow management, portfolio management, reporting, and more.

Nasser Al-Tamimi, Co-founder and COO of RasMal, commented: “This acquisition marks RasMal’s initial step towards expanding its offerings beyond private companies. Despite the abundance of startups and capital in the market, simplified tech solutions like ours are crucial for ensuring the sustainability of the ecosystem.”

For his part, Co-founder of Pentugram Hasan Zainal said that the acquisition will extend the platform’s accessibility to a broader range of asset managers beyond venture capitalists, ultimately leading to improved returns for all users.