Saudi-based proptech company Mnzil has closed a $11.70 million Series A round led by the US-based Founders Fund, with participation from COTU Ventures. The company said the capital will support an expansion of its operational network.

Expansion and development plans

According to the announcement, the funding will help Mnzil scale its labour-housing solutions across the Kingdom. Most importantly, the company plans to develop a 22,000-sqm site that will host six additional worker-housing buildings. Because demand for organized workforce accommodation continues to rise, the startup aims to broaden its coverage in key commercial zones.

Company overview

Founded in 2024 by Abdulmajeed Al Babtain and Abdulrahman Al Shaya, Mnzil provides integrated housing solutions for businesses across multiple industries. Besides that, the company now operates in more than 13 cities, working with a client base of over 100 corporate customers. Its portfolio includes firms such as Smasco, EFSIM, Barq, and Sixt.

Investor milestone

The funding marks Founders Fund’s first investment in Saudi Arabia. Therefore, the transaction signals rising global investor interest in the Kingdom’s evolving service and infrastructure sectors, aligned with the broader transformation under Vision 2030.

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