Saudi Arabia-based wealth tech Vennre has raised $9.6 million (R36 million) in a pre-Series A round through a hybrid equity and debt structure. The round was co-led by Vision Ventures and anb Seed Fund, with participation from Sanabil 500, Ace & Co, Plus VC, and strategic private investors. Founded in 2021 by Ziad Mabsout, Anas Halabi, and Abdulrahman AlMalik, Vennre targets the HENRY (high-income but not yet wealthy) segment with access to Sharia-compliant private market investments. The new funding will be used to expand the customer base, introduce new platform capabilities and deepen Venre’s presence in Saudi Arabia, in line with Vision 2030 and the growth of the fintech sector.
press release:
Vennre, a wealth creation platform that enables high-income individuals who are not yet rich, to access private market opportunities, today announced the successful completion of a pre-Series A funding round, raising $9.6 million through a hybrid equity and debt structure.
The round was co-led by Vision Ventures and anb Seed Fund, with participation from Sanabil 500, Ace & Co, Plus VC, and strategic private investors from the private banking, technology, and entrepreneurship ecosystems.
This investment reflects growing confidence from leading regional VCs and strategic backers in Venle’s mission to democratize access to selective private investments for high-income individual investors. Bypassing traditional gatekeepers, Vennre offers a transparent, Shariah-compliant solution that was previously only available to educational institutions and ultra-high-net-worth participants.
Vennre, founded by Ziad Mabsout, Anas Halabi and Abdulrahman AlMalik, also reached two operational milestones. These include the appointment of Dr. Ibrahim Almojer as Saudi Chairman of the Board and the platform-wide trading volume exceeding $40 million, clear evidence of growing market traction and investor confidence.
Ziad Mabsout, CEO and co-founder of Vennre, said:
“Generations of ambitious professionals in the region have achieved success, but have not been given the tools they need to scale it further. This funding is more than just another round of funding. It is clear support from a leading institution that the large Henley population, long underserved, is ready for a better wealth-building experience. We are building for long-term wealth creation, not one-off deals. We start with carefully selected and vetted private investment opportunities and expand into complete wealth journeys built on discipline, trust and collaboration. This round allows us to: “Raise the bar on what private wealth platforms in the region have to offer.” ”
Khalid S. Alghamdi, CEO of anb Capital, added:
“We are pleased to co-lead Venle’s pre-Series A through our anb seed fund. Private markets around the world already manage over USD 14 trillion in assets, but retail investors account for less than 5% of that exposure. Venle has long been excluded from these opportunities. We are directly addressing this imbalance by providing Shariah-compliant access to a segment that has already facilitated transactions of over USD 40 million, proving that high-income Saudis are ready to enter the private market.” Fully aligned with our 2030 mission. ”
Kais Al-Essa, founding partner and CEO of Vision Ventures, said:
“We are delighted to co-lead Vennre’s pre-Series A and are excited to support such a great founding team. We are ready to support founders who use technology to make people’s lives easier and provide access to opportunities previously unavailable. Vennre is a leader in real estate, private equity, venture capital, and private credit. These four asset classes were previously available to a select few. One of Vision’s investment goals is to democratize such access.”In line with Saudi Arabia’s financial sector development plans and the momentum of fintech, Ventures aims to enable generational wealth creation and give everyone access to high-return investments that generate vetted income. ”
Looking ahead, Venre plans to use the capital to expand its customer network, introduce new platform capabilities, and deepen its presence in the Kingdom in line with the ongoing financial sector liberalization and fintech momentum.
