Mnzil, a Saudi proptech company focused on labour housing solutions, has raised more than $11.7 million (SAR 44 million) in its Series A round. The round was led by Founders Fund, marking the US investor’s first-ever investment in Saudi Arabia.
COTU Ventures also joined the round, further strengthening Mnzil’s support as it continues to grow its housing technology platform.
Mnzil was founded in 2024 by Abdulmajeed Al-Babtain and Abdulrahman Al-Shaya. Since then, the company has grown quickly, expanding to more than 13 cities and offering housing solutions designed to meet the needs of businesses in different industries.
Today, Mnzil works with over 100 corporate clients, including Smasco, EFSIM, Barq, and Sixt.
The company operates more than 60 fully equipped buildings that focus on comfort and safety, helping improve and modernize worker housing across Saudi Arabia.
Mnzil has also revealed plans to develop a 22,000-square-meter Site where it will build six new workforce-housing buildings. This project is being done in partnership with local landowners.
The development is part of Mnzil’s broader strategy to expand and improve labour accommodation across Saudi Arabia.
The involvement of Founders Fund is a major milestone for Saudi Arabia’s startup ecosystem, showing that international investors have increasing confidence in the Kingdom’s fast-evolving service and infrastructure sectors under Vision 2030.
Amin Merzadan, Partner at Founders Fund, stated: “Manzel is solving a massive and often overlooked problem at the heart of the Gulf economy: workforce housing… We are excited to support Manzel in its journey to scale across the region.”
Ameer Fareha of COTU Ventures — the first VC fund to invest in Mnzil — added: “Abdulmajeed and his team are tackling a complex problem with significant social and economic impact… We are fortunate to be part of Mnzil’s journey.”
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