Investments

CaptainPanel, a SaaS for water activity companies, raises $1.2 million seed from Kuwait’s Faith Capital and 500 Startups

California-based SaaS startup CaptainPanel has raised $1.2 million in seed funding from Kuwait’s Faith Capital and 500 Startups (MENA), Faith Capital and 500 Startups announced in a joint statement today.

Founded in 2017 by Abdullah Shalabi, a Kuwait national, CaptainPanel is an online solution that comes with a booking software for operators of fishing charters, boat rentals, diving centers, and water sports activity organizers. The startup also owns and runs FishFishMe, an international marketplace for fishing charters and watersport activities.

A big number of water activity businesses still rely on pen and paper to manage their bookings which requires a lot of time and effort on the operations side. CaptainPanel helps them take all of this online through its booking software and different other services which also include revamping the websites of these businesses and working with them on their digital marketing.

Abdullah Shalabi, the Co-Founder and CEO, of CaptainPanel, commenting on the occasion, said, “CaptainPanel is a growth partner for water sports companies. We provide business with in-person support, guidance and a tailored-made software which engages customers and manages the complex transactions typical of this industry. Both our approach and our software is supportive, simple and growth-focused. We understand the needs of this industry and have built our business to help yours – regardless of size.”

Abdulaziz Al Loughani, Managing Partner at Faith Capital, said, “FishFishMe and CaptainPanel are quickly becoming indispensable software platforms for anyone operating a watersports business in the Western United States and Mexico. As the tourism and hospitality sector continues to adopt technical solutions to age-old problems, small business owners reliant on the vibrancy of this sector will no longer fear the loss of value and opportunity caused by a lack of innovation in this space.”

Hasan Haider, a Partner with 500 Startups, added, “We aim to invest in great founders, that are passionate and strive to achieve great results, and so we’re happy to be investing in CaptainPanel and supporting Abdullah on his path to success. CaptainPanel has been shown to be greatly needed globally, not just in the MENA region and is helping boat captains and owners to more efficiently manage their businesses.”

Mohammed Jaffar, Deputy Chairman and CEO of Faith Capital, commented, “We are committed to back MENA founders as they endeavor to create lasting value in the technology space across the world and especially in the MENA region. We look forward to continuously providing support to our founders via our expansive team of professionals.”

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