Friday, October 22, 2021
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Manafa

0
Manafa
Vertical:
Region:
Middle East
Headquartered:
Saudi Arabia
HQ Address:
Anas Bin Malek Road, Al Malqa Dist., Riyadh SA, Riyadh, Saudi Arabia
Countries in Operation:
Saudi Arabia
Countries with Offices:
Saudi Arabia
Founded:

Company Profile

Over the past decades, the financial sector has gone through many changes like other sectors, as a result of technical development and changing user needs. With the Kingdom’s intention to be part of this change, the Saudi leadership launched the Kingdom’s Vision 2030, which among its initiatives is the Financial Sector Development Program, which provided new opportunities in the financial sector that are in line with the requirements of the twenty-first century. Among the initiatives of the program was the Financial Technology Laboratory carried out by the Capital Market Authority, which was viewed by founders Abdulaziz Al-Adwani and Abdullah Mashary as an opportunity to launch a quality company that aims to open the door to investment in small and medium-sized companies through digitizing the investment process and making it available to the largest possible segment of interested people. As the two founders have extensive experience in the field of startups and venture investment, Mr. Abdulaziz Al-Adwani had previously invested in several start-up companies and worked on establishing others,

Through this, Manafa’a aspires to change the future of investment in the Kingdom, with the support of its investor and entrepreneur clients and its ambitious team. The company’s business model is based on what is known as collective ownership financing, which allows companies to obtain investment by individuals registered on a utility platform to support growth and the company’s operational business in exchange for a stake in it. It does not manage the benefits of shareholder funds in companies, but rather allows investors to directly invest in companies. This means that it is not possible for the benefits to predict the future profits that investors are expected to obtain because it depends on the performance of each company separately. Granting this investment asset to the general public to invest in it is a new matter in Saudi Arabia, which is usually restricted to an elite of high net worth investors due to the high risk of investing in this type of company.



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