Founders Fund Leads Mnzil’s Series A Round with Over SAR 44 Million — Its First Lead Investment in Saudi Arabia

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Riyadh – BETH

The US-based Founders Fund has led a Series A investment round in Mnzil, the Saudi workforce-housing solutions company, with continued participation from COTU Ventures, bringing the total raised to more than SAR 44 million. The deal marks Founders Fund’s first-ever lead investment in Saudi Arabia.

In its statement, Founders Fund — known for backing some of Silicon Valley’s most influential companies, including SpaceX, Airbnb, Palantir Technologies, Meta, Anduril, and OpenAI — highlighted the scale of the challenge Mnzil is addressing.

“Mnzil is solving a massive, overlooked problem at the heart of the GCC economy: workforce housing,” said Amin Mirzadegan, Partner at Founders Fund. “Majeed’s focus and relentless execution have driven explosive growth since Mnzil’s launch in mid-2024. We’re excited to support the company as it expands its reach and impact across the GCC.”

Amir Farha of COTU Ventures — Mnzil’s first institutional investor and a participant in this round — added:
“Majeed and his team are tackling a complex challenge with significant social and economic upside. In a short time, they’ve demonstrated world-class execution, securing blue-chip customers and major investors like Founders Fund. It’s rare to see a founder with Majeed’s blend of ambition, clarity, and contagious drive. We’re proud to be part of this journey and excited for the impact Mnzil is set to deliver for millions of workers across the GCC.”

Mnzil CEO Abdulmajeed Al-Babtain expressed pride that this investment represents Founders Fund’s largest entry into the GCC — specifically into the rapidly growing Saudi economy.
“This round marks a strategic milestone that supports our ambition to reshape the workforce housing ecosystem — from its technological backbone to its physical infrastructure,” he said. “My gratitude goes to the Mnzil team for their dedication, and to Founders Fund and COTU Ventures for their trust and exceptional support over the past months.”