Foras, an investment firm based in Abu Dhabi, has acquired a 36% stake in Beban to improve access to funding for startups in the MENA region. This strategic move focuses on Sharia-compliant Murabaha debt and equity crowdfunding, aimed at bridging the funding gap for SMEs and fostering sustainable economic growth by leveraging AI and digital media.
With Foras’ support, Beban Crowdfunding plans to expand its offerings, strengthening alternative funding solutions and boosting investor engagement both within the GCC and beyond.
What’s the deal?
Foras has announced its acquisition of 36% in Beban, intending to enhance capital access for entrepreneurs across the region. Mohamed Abouelnaga, Founder of Foras, stated, “We aim to close the funding gap between SMEs seeking capital and individual and accredited investors. The Venture Capital market in Africa alone is valued at $2.9 billion, with the SME credit group valued at $450 billion, while the Crowdfunding market is expected to reach $40.03 billion by 2033. Our innovative solutions, including Sharia-compliant Murabaha debt and equity crowdfunding, will address liquidity issues for SMEs and pave the way for their long-term success.”
Who are they?
Foras is an Abu Dhabi-based investment firm focused on innovative startups in the MENA region, specializing in AI-driven solutions for sustainable growth. Founded in 2021 by Mohamed Nagaty, Foras is also committed to advancing digital media and gaming products.
Beban Crowdfunding is a platform that provides unique equity investment opportunities, featuring investment showcases through the Beban TV Show and a local and regional ecosystem. The platform helps entrepreneurs secure the necessary funding for their ventures.
What’s next for Beban?
Thanks to Foras’ investment, Beban plans to expand its offerings, utilizing Foras’ extensive experience in raising regional investment awareness through media channels like the Elmal Elhalal podcast.
Sh. Hamed Mohamed AlKhalifa, Chairman of Hope Ventures Holding, Beban’s parent company, commented, “Together, we are dedicated to fostering innovation and providing more opportunities. Beban Crowdfunding has already secured over $250,000 from more than 5,000 investors in Bahrain and the GCC.”
Why does it matter?
This acquisition marks a significant step for both Beban and Foras in developing new features and resources for the region’s entrepreneurial ecosystem. It will benefit both startups seeking funding and investors looking for promising opportunities.
