Saudi Arabia-founded Mnzil, a technology-enabled employee and workforce housing solutions provider, has raised approximately US $11.7 million in a Series A funding round led by San Francisco-based Founders Fund, marking the venture firm’s first major investment in the Kingdom’s startup ecosystem.
The funding round also included participation from regional investor COTU Ventures and support from Waad Investment, according to multiple financing disclosures. The capital will be used to accelerate Mnzil’s regional expansion across the Gulf Cooperation Council (GCC) and deepen its operational footprint in Saudi Arabia’s workforce-housing market.
Founded in 2024 by Abdulmajeed Al-Babtain and Abdulrahman Al-Shaya, Mnzil offers an integrated, tech-enabled platform that connects landlords, corporate clients and workers to deliver end-to-end housing and related services for blue-collar and frontline workers. The company’s model combines subleasing, development and digital marketplace elements to simplify workforce accommodation logistics for employers.
Mnzil has rapidly expanded its presence, operating in more than 13 cities across Saudi Arabia and managing over 60 fully equipped housing facilities serving more than 100 corporate clients, including logistics, construction and services firms, executives said.
With the new funding, the company plans to develop a 22,000-square-metre site featuring six purpose-built workforce-housing buildings in partnership with local landowners as part of its strategy to enhance living standards and infrastructure quality for workers. It also aims to leverage the investment to expand into additional GCC markets, responding to strong demand for structured, compliant accommodation solutions across the region.
Investors and industry analysts described the Series A as a significant milestone for proptech and workforce-infrastructure ventures in the Middle East, highlighting growing international confidence in scalable, technology-driven real estate solutions tailored to emerging market needs.
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