Dubai – Sharikat Mubasher: UAE-based investment firm Foras acquired a 36% stake in Beban, a crowdfunding platform licensed by the Central Bank of Bahrain.
According to a recent press release, this deal strengthens Foras’ presence in the regional startup ecosystem and aims to expand access to funding for entrepreneurs across MENA.
Mohamed Abouelnaga, Founder of Foras said: “This acquisition marks a significant milestone for both companies. We are excited about the potential to collaborate and drive growth in the MENA startup landscape through Beban Crowdfunding and our collective mission to empower entrepreneurs.”
He also highlighted the growing demand for alternative financing, with Africa’s venture capital market valued at $2.9 billion and the SME credit gap standing at $450 billion.
The global crowdfunding market is also on track to reach $40 billion by 2033. Through Beban’s platform, startups can access Shariah-compliant Murabaha financing and equity crowdfunding to address their liquidity needs and unlock growth.
Beban has built a strong position in the market by offering investment opportunities featured on its Beban TV Show, alongside deals sourced from across the region. With Foras’ investment and its media platform — including the Elmal Elhalal podcast — Beban plans to broaden its offering and attract more startups and investors.
Sh. Hamed AlKhalifa, Chairman of Hope Ventures Holding, Beban’s parent company, welcomed Foras as a key partner, emphasizing the value of its investment experience and network. He noted that Beban has already helped raise over $250,000 from more than 5,000 investors across Bahrain and the GCC.
The partnership is expected to accelerate Beban’s growth and deliver new tools to help startups secure capital, while giving investors access to a wider range of promising opportunities.
