Riyadh-headquartered fintech startup RasMal has raised $4.8 million in a pre-Series A round led by Syndicate Element Holding Group (SHG), it announced today.
Founded in 2019 by Basil Alkuraya and Nasser Al-Tamimi RasMal claims to be the first cap table management and investment governance platform in the MENA region, and provides digital solutions for private companies to automate cap table management, fundraising, and equity transfers.
It also offers tools for managing employee stock option plans (ESOP), AI-driven company valuation modeling, and automated legal documentation. The startup operates Pentugram, a wholly-owned platform that provides deal flow management and investor reporting tools for venture capital funds, angel investors, incubators, and accelerators. It acquired Pentugram last year.
Nasser Al-Tamimi, co-founder of RasMal, said, “This investment reflects our commitment to empowering startups and investors with innovative technological solutions that enhance the efficiency of cap table management and investment governance. Through our partnership with SHG, we will accelerate the adoption of automation in fundraising and equity transfers.”
Mohammed Abdullah, CEO of SHG, said, “Our investment in RasMal is a significant step toward empowering startups and investors through AI-driven financial governance. By integrating RasMal’s automated cap table management with our investment expertise, we are creating a more transparent and efficient investment ecosystem.”
The fresh funds will be used to introduce new tools and services to streamline fundraising processes and equity transfers.
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