Unipal closes Pre-Series A round to further fuel its growth across Saudi Arabia

TDT | Riyadh

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Unipal, the biggest youth benefits platform in the region, successfully raised its Pre-Series A investment round. The round was led by Plus VC with participation from Al Jazira Capital, RZM Investments, Falak Angels, Doha Tech Angels and other prominent angel investors.

Unipal connects brands to the most important customer base, the youth, through a personalized experience in its innovative App. Since its launch in 2020, Unipal created a strong foothold in Bahrain, with 98% of the student population registered on the platform. In less than a year of expanding to Riyadh, Unipal grew to 250,000 users and 700 brands.

This investment marks a strategic milestone in strengthening Unipal’s position as the leading youth benefits provider across the GCC. It marks a step towards Unipal’s expansion to officially launch in Jeddah, Madinah, Dammam & Khobar this year. It’s also aiming to launch its new App with enhanced algorithms to create a Netflix-like experience for its users.

“We’re here to double down on the growth and the investment represents a significant step forward in our goal to become the number one youth platform in the whole region. We’re also proud to have prestigious investors who provide both investment and strategic support, believing in Unipal’s potential as much as we do.” shared Ali Alalawi, Cofounder of Unipal.

Hasan Haider, Managing Partner at Plus VC, said: “Unipal is a game-changer, redefining how the youth enjoy exclusive discounts and interact with different brands. Their growth trajectory and ability to create value for the youth and businesses make them an outstanding investment opportunity. We believe in supporting ventures that drive tangible benefits for their communities.”

Abdulla Alkasabi, CEO of RZM Investment, elaborated on their decision to invest saying “Unipal has demonstrated remarkable traction in a short period. Their vision aligns with our commitment to investing in innovative solutions that create lasting value.”

Adwa Aldakheel, CEO of Falak Investment Hub, said: “Unipal is more than a discount platform; it’s a partner for brands aiming to connect with influential youth, and a supporter of enhancing the daily lives of the youth. This investment reflects our commitment to empowering impactful startups that deliver tangible solutions.”

Rawan AlRasheed, Head of Impact Lab at Al Jazira Capital, shared her thoughts: “We believe Unipal will play a crucial role in advancing financial accessibility for the youth while contributing to the growth of the fintech ecosystem. Our investment reflects our commitment to supporting startups that drive meaningful financial solutions, foster financial inclusion and empower future generations”.

This comes as part of Unipal’s participation in Bahrain’s pavilion, organized and supported by the Labour Fund (Tamkeen), at the annual LEAP Technology Conference, in Riyadh, the Kingdom of Saudi Arabia.