Investments

Saudi home maintenance services startup B8ak raises $2 million in seed funding

Khobar-based home maintenance services startup B8ak has raised $2 million of seed funding in a round led by Riyad Taqnia Fund. The round was also joined by Dar wa Emaar Development and Investment Company, Khobar-based real-estate development company.

Founded in 2016 by Khalid Al-Hmili and Eyad Al-Shabaan, B8ak allows users to book verified handymen and service providers for more than twenty types of home services including plumbing, electrical, cleaning and AC maintenance.

The services that are currently available in Riyadh, Khobar and Dahran can be booked by B8ak’s mobile apps for iOS and Android. The apps apart from standard stuff also come with an expenses management feature that allows users to track their expenses on every type of service they used B8ak for.

The startup aims to use the investment to further develop its technology and expand its operation across Saudi Arabia and GCC.

“This has been an incredible year for us! This is a strong endorsement of our strategy so far. Our new partners will support us to develop our unique technology even further and faster than before, build strategic partnerships with business leaders and allow us to expand our services Kingdom and GCC-wide in a timely manner,” said Khalid Alhmili, co-founder & CEO of B8ak, speaking about the investment.

Adel Al Ateeq, deputy CEO at Riyad Capital, also commented, “This investment is part of Riyad Taqnia Fund’s efforts to scale startups in the Kingdom and the region. We Believe that B8ak will become one of the leading companies in the region supported by its strong founding team with diverse skills. We will support the company to accelerate its growth in the Saudi market and open new markets regionally.”

B8ak was the winner of Startup Track at the first edition of MIT Enterprise Forum Saudi Arabia that was held in 2016, winning 100,000 Saudi Riyal (~$26,000).

Zubair Naeem Paracha

Contributor at MENAbytes
An HR Consultant based in Riyadh who has always been passionate about tech and startups. Currently trying to build his own startup, Qraar. You can reach him on Linkedin,  Twitter or zubair [at] menabytes [dot] com.
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