Mnzil has closed a significant Series A funding round that marks a milestone for both the company and the wider Gulf venture landscape. The Saudi-based workforce housing provider secured more than SAR 44 million, equivalent to roughly $ 11.7 million, in new capital to accelerate its expansion plans. The round is led by San Francisco’s Founders Fund, representing the firm’s first lead investment in Saudi Arabia and the broader Middle East.
A Strategic Investment Led by Founders Fund
Founders Fund’s participation signals a major vote of confidence in Mnzil’s model and long-term potential. The U.S. venture firm, known for its investments in companies such as SpaceX, Airbnb, Palantir Technologies, Meta, Anduril, and OpenAI, is currently deploying capital from a $5.5 billion set of funds. This Series A round demonstrates the firm’s intent to back scalable infrastructure solutions tied to workforce needs in fast-growing regional economies.
Regional Investors Back Mnzil’s Growth Ambitions
The round also includes continued participation from COTU Ventures and support from Waad Investment, reinforcing investor belief in the company’s progress to date. COTU Ventures was the first venture fund to invest in Mnzil and has remained involved through the company’s rapid scale-up phase. Representatives from both investors highlighted the magnitude of the problem Mnzil is solving and the significant social and economic value of improving workforce housing across the Gulf.
Rapid Expansion Across Saudi Arabia
Mnzil was founded in 2024 by CEO Abdulmajeed Al-Babtain and co-founder Abdulrahman Al-Shaya with the mission of redefining housing and mobility for blue-collar workers. In less than a year, the company has expanded to more than 13 cities across Saudi Arabia, managing over 60 workforce housing facilities. The platform currently serves more than 100 corporate clients and operates with a growing team of more than 40 employees.
A Tech-Enabled Model Built for Scale
The company provides integrated workforce living solutions designed to relieve employers of the logistical and financial burdens of housing and transporting workers. Its model combines subleasing, development, and a technology-enabled C2B marketplace that connects landlords, companies, and workers in a unified ecosystem. By doing so, Mnzil aims to unlock value for real estate owners while providing companies with reliable and compliant infrastructure tailored to large-scale workforce needs.
Moving Toward Purpose-Built Developments
With the new capital, Mnzil plans to launch a series of purpose-built projects designed specifically for workforce accommodation rather than retrofitted or temporary housing. The first development is a 22,000-square-meter site that will feature six dedicated buildings in partnership with landowners and developers. This move signals the company’s transition from managing existing facilities to shaping new infrastructure built around safety, quality, and modern operational standards.
Broader GCC Expansion Strategy
Mnzil’s leadership views this round as a catalyst for regional expansion beyond Saudi Arabia into the wider Gulf Cooperation Council markets. The company believes that the need for organized workforce housing is one of the Gulf’s most pressing economic challenges, particularly in sectors driven by large labor forces. The funding positions Mnzil to explore cross-border growth while strengthening its operational footprint within the Kingdom.
Industry Recognition and Vision
Both investors and the Mnzil team emphasized the broader economic impact of improving living conditions for millions of workers. Founders Fund described workforce housing as a massive and historically overlooked problem, while COTU Ventures highlighted Mnzil’s execution and the scale of its early progress. Al-Babtain said the round represents a strategic step toward reshaping workforce housing infrastructure and helping the company reach workers across the GCC.
Mnzil’s Series A marks one of the most notable early-stage investments in the region’s workforce housing sector and introduces a major U.S. venture firm into Saudi Arabia’s startup ecosystem. With more than 60 facilities already under management and new purpose-built developments underway, the company is positioned to expand rapidly. The funding underscores rising investor interest in scalable, technology-driven infrastructure solutions that address real economic needs across the Gulf.