Riyadh – Sharikat Mubasher: Saudi startup Mnzil has raised more than $44 million in a Series A round led by San Francisco–based Founders Fund, marking the venture firm’s first lead investment in the Middle East. The round also included continued participation from COTU Ventures.
Founded in 2024 by Abdulmajeed Al-Abtahi and Abdulrahman Al-Shaya, Mnzil provides integrated workforce housing solutions to over 100 corporate clients and manages more than 60 facilities across 13+ cities in Saudi Arabia. The company has grown to over 40 employees as it expands its mission to redefine workforce living standards across the Kingdom.
The company is now moving into purpose-built developments in partnership with landowners and real estate developers. Its first project will feature six state-of-the-art workforce housing facilities covering 22,000 square meters.
Founders Fund—known for backing global companies including SpaceX, Airbnb, Palantir, and OpenAI—highlighted Mnzil’s strong execution and rapid growth as key factors behind the investment. The firm is currently investing out of a $5.5 billion fund.
Mnzil’s clients include EFSIM, SMASCO, BARQ, and SIXT, among others. With fresh capital, the startup aims to scale further and deliver high-comfort, high-safety accommodations for workers across the GCC.
