Bahrain-based Inagrab has secured an investment from Kuwait’s Faith Captial, the Kuwaiti VC announced today in a statement, without disclosing the size of investment. The investment is part of Inagrab’s ongoing seed round that also includes Bahrain Development Bank, 500 Startups, and Flat6Labs as investors.
Founded in 2017 by Hussain Haji and Dr. Mustafa Marhama, Inagrab is an AI-powered deal assistant that optimizes seller performance by offering recommendations about when and where to promote the products. The platform does this by giving its users access to data from different sources and by providing contacts of potential companies/clients for lead generation.
It has recently also developed another product called Dalooni that connects businesses with individual sales agents who can sell different products and services on behalf of these businesses in exchange for a commission on every successful sale. Dalooni that is available as a mobile app for both sales agents and businesses also uses gamification to promote healthy competition between the sales agents and allows businesses to define their customer acquisition cost.
Hussain Haji, the Founder and CEO of Inagrab, commented, “We embarked on a journey to bridge a very obvious gap and offer a solution that will both be beneficial for the Business owner and the individual (specifically the many in need of another source of income). That was proven by our quick growth since inception of Dalooni, and we believe it’s time to grow outside the current borders into neighboring countries. We are honored to be Faith Capital’s first investment in Bahrain and we are humbled by having so many investors believe in our vision.”
Mohammed Jaffar, Deputy Chairman and CEO of Faith Capital, said, “Faith Capital continues to focus its efforts on backing MENA founders in the GCC region by making its first investment in Bahrain. Dalooni has set its sights on expansion so soon after launching and we are thrilled to be a part of this journey.”
Abdulaziz Al Loughani, Managing Partner at Faith Capital, added, “Classifieds have done phenomenally well in this part of the world and we’ve finally found an entrepreneur offering a new gamified spin on this evolving space.”
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