
Vertiv demonstrates mission-critical infrastructure solutions in Saudi Arabia
Vertiv's switchgear and busbar families offer a complete, modular, and scalable power distribution solution tailored for critical infrastructure. Vertiv™ PowerBoard low‑voltage switchgear offers modular, compact, type‑tested designs and the Vertiv™ Powerbar iMPB busbar system delivers overhead, scalable power distribution, minimizing downtime and enhancing cooling airflow in dense data hall environments. These solutions complement Vertiv's end-to-end power and cooling, IT management, racks, integrated solutions and services portfolios.
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Wamda
15 hours ago
- Wamda
Saudi fintech Tarmeez Capital raises strategic round from Tali Ventures
Saudi Arabia-based sukuk fintech Tarmeez Capital has raised a strategic funding round led by Tali Ventures, the corporate VC arm of stc group. Founded in 2022 by Nasser Alsaadoun, the platform streamlines sukuk issuance at 7x the speed of traditional methods, supporting over 180,000 users with accessible Islamic finance. Tarmeez Capital plans to scale its platform, expand retail sukuk access, and support Vision 2030 financial inclusion goals. Press release: Tali Ventures, the corporate venture capital arm of stc group, has led a strategic funding round in Tarmeez Capital, one of Saudi's fastest growing fintech players in the sukuk and debt instruments space – an area playing an increasingly vital role in deepening the Kingdom's capital markets. This milestone marks the company's transition from a successfully bootstrapped venture to one backed by a major national investor. The investment supports stc group's broader strategy to back high-growth digital platforms shaping the future of finance and strengthen the Kingdom's financial ecosystem. Tarmeez Capital, licensed by the Capital Market Authority (CMA), provides end-to-end digital financing services for companies across various sectors. Its Sharia-compliant sukuk products are accessible to both institutional and retail investors. To date, the Company has facilitated over SAR 2 billion in financing programs and has opened access to over 180,000 users. Over the last year alone, it has grown sukuk issuances by 459 percent. Through leveraging technology, Tarmeez Capital seamlessly connects finance-seeking businesses with purpose-driven investors. The Company's proprietary technology and data analytics enable them to streamline Sukuk issuance seven times faster than other traditional channels benefiting businesses and investors alike. The investment comes at a time of rapid expansion in Saudi Arabia's corporate debt market, which reached SAR 140 billion in 2024. Issuances via CMA-licensed digital platforms surged to SAR 3.5 billion, up 127.36% year-on-year, with the number of issuances rising to 4,527, a 317.62% increase from 2023. stc group's backing is expected to support Tarmeez Capital's continued growth, helping it scale its offering and deliver cutting-edge financial solutions across the market. Majed Al Jarboua, General Manager of Corporate Fund and Entrepreneurship at stc group, stated: 'Tarmeez Capital is gaining ground in a sector that's becoming central to how companies access capital in Saudi Arabia. stc group is proud to back a homegrown fintech pushing the boundaries of digital finance. This investment marks a strategic step in scaling the next generation of financial infrastructure.' Nasser Al-Saadoun, Founder and CEO of Tarmeez Capital, commented: 'This investment marks a pivotal milestone for Tarmeez Capital as we scale our offerings in the sukuk and debt market. We're glad to partner with stc group, whose vision aligns with ours in advancing innovative, Sharia-compliant financial solutions. We're also grateful to the Capital Market Authority for fostering an environment where fintechs can thrive, and to our exceptional team for their continued dedication and drive.' In construction and industrial services, Red Sea International has accessed Sharia-compliant capital via Tarmeez to fulfil contracts for Baker Hughes and Red Sea Global. The funds support the design and deployment of prefabricated facilities critical to the Eastern Region's infrastructure buildout. 'Tarmeez's digital issuance model and access to flexible, diverse funding sources enabled us to mobilise quickly and meet tight project timelines while maintaining our regulatory obligations,' as stated by Ghassan Alashkar, Acting CEO of Red Sea International. In housing and urban development, RASF Real Estate Development is deploying sukuk financing for the Deem project in Al Khobar, a contemporary townhouse complex aimed at the Kingdom's growing middle class. 'Flexible, fast access to capital means we can respond to housing demand in real time,' said Ahmed Al Sayyari, CEO of RASF. 'This model allows us to focus on delivering communities that reflect the lifestyle aspirations of today's Saudis.' By opening sukuk to retail investors, Tarmeez Capital is making ethical, Sharia-compliant finance more accessible. This aligns with growing demand for ESG-aligned investments, particularly among younger and underserved investors, and supports Saudi Arabia's Vision 2030 goals for financial inclusion and sustainable growth. 'Tarmeez Capital is positioned to play a leading role in the Kingdom's journey to expand the sukuk and debt market to SAR 954 billion by 2030. Looking ahead, our focus is on scaling our platform, deepening market participation, and contributing to the Kingdom's vision of a dynamic, inclusive, and globally competitive financial sector.', Nasser Al-Saadoun, Founder and CEO of Tarmeez Capital, added.


Wamda
16 hours ago
- Wamda
BlueFive Capital closes oversubscribed round at $120 million valuation
BlueFive Capital, a UAE-based investment platform, closed its Founding Shareholders Circle round with a $120 million valuation. The round attracted 25 founding shareholders, including prominent GCC royal families, institutional investors, and finance leaders from North America, Europe, and Asia. Since launching in late 2024 by Hazem Ben-Gacem, BlueFive has amassed over $650 million in assets under management (AUM) across a growing global team spanning London, Abu Dhabi, Riyadh, Singapore, and Beijing. The firm was founded by Hazem Ben-Gacem, former Co-CEO of Investcorp, who grew AUM from $10B to $50B during his tenure. The company aims to bridge institutional platforms with underserved high-growth markets, positioning the GCC as a launchpad for global impact. Press release: BlueFive Capital, an investment platform originating from the GCC with a global mandate, today announced the successful closing of its Founding Shareholders Circle investment round, valuing the company at $120 million. The funding round was oversubscribed and concluded in less than six months since the company's formation, highlighting investors' confidence in BlueFive Capital's business ambitions. The founding shareholders consist of 25 institutions and family offices, including some of the most prominent GCC merchant and royal families alongside renowned finance leaders from North America, Europe and Asia. The offering has been subsequently expanded to accommodate the additional interest. Since its inception at the end of 2024, BlueFive Capital has established itself as one of the GCC's fastest-growing global asset managers and today oversees more than $650 million in AUM. The firm combines tenured leadership with a 27-person team spanning London, Bahrain, Abu Dhabi, Dubai, Riyadh, Jeddah, Singapore and Beijing. BlueFive is founded by Hazem Ben-Gacem, one of the longest-serving professionals in global private equity. Hazem was previously co-Chief Executive Officer at Investcorp, the Middle East's largest non-sovereign private equity firm. During his 30 years at the firm, Hazem directly led investment teams in most of its world regions, while assets under management grew from $10 billion to more than $50 billion. Hazem Ben-Gacem, Founder and Chief Executive of BlueFive Capital, said: 'This overwhelming confidence from 25 blue-chip shareholders validates our team's expertise and our strategy to disrupt the value chain in high-growth financial markets. The GCC is our launchpad, but our vision is hemispheric: connecting institutional-grade platforms to underserved capital markets driving the next wave of global prosperity." BlueFive Capital's board of directors bring together an influential group of individuals representing the firm's key focus geographies of the Middle East, Southeast Asia and China. The Board is chaired by Sheikh Mohamed Bin Isa Al Khalifa, who led Bahrain's national pension fund for more than two decades. Lord Gerry Grimstone, former Minister of Investment for the United Kingdom, and Sheikh Mubarak Abdulla Al-Mubarak Al-Sabah of Kuwait serve as vice chairmen.


Wamda
2 days ago
- Wamda
Proptech startup Huspy closes $59 million Series B, eyes Saudi expansion
Huspy, the UAE and Spain-based proptech company, has raised $59 million in a Series B round led by Balderton Capital, with participation from Peak XV, ExBorder Partners, Turmeric Capital, BY Ventures, Dara Management, and KE Partners. Founded in 2020 by Jad Antoun and Khalid Ashmawy, Huspy facilitates over $7 billion in annual real estate transactions across Europe and the Middle East, supporting thousands of real estate agents and mortgage brokers with advanced tech tools and high commissions. Huspy plans to expand into six new Spanish cities and launch in Saudi Arabia in 2025, bringing its total footprint to 10+ cities globally, including Madrid, Valencia, and Dubai. Balderton Capital and Peak XV double down on their previous investments in Huspy in its latest funding round that was announced last year. Press release: Huspy ( the proptech company reshaping home-buying experiences from the Middle East to Europe, today announced the close of a $59 million Series B funding round, led by returning investor Balderton Capital, one of Europe's leading venture firms. The round also saw participation for a third time from Peak XV (formerly Sequoia Capital India and Southeast Asia), as well as ExBorder Partners, Turmeric Capital, BY Ventures, Dara Management, and KE Partners. With operations in the UAE and Spain, Huspy empowers thousands of real estate agents and mortgage brokers with a market-leading value proposition: high commissions, best-in-class technology and robust infrastructure to serve home buyers and sellers more efficiently. Huspy facilitates over $7 billion in real estate transactions annually in Europe and the Middle East. The funding will support Huspy's European expansion, investment in technology and strategic hiring. In Spain, Huspy is operational in Madrid, Valencia, Alicante and Malaga and will be launching in six additional cities by the end of 2025. In 2024, the company's Spanish real estate business achieved more than 20x year-on-year growth. This year, Huspy will also expand its Middle East presence by entering the region's largest economy, the Kingdom of Saudi Arabia, bringing its total footprint to ten cities globally. Over the next four years, the company intends to launch operations across most major cities in Europe and the Middle East. 'We are building a global business with the goal of being present in the majority of European and Middle Eastern cities. We aim to provide the best infrastructure for real estate agents and mortgage brokers, enabling them to grow their businesses and serve home buyers and sellers in the best way possible. After 4 years of investing in our systems, we are now able to operate with a lot of agility, allowing us to expand the business at a high growth rate for years to come,' said Jad Antoun, Co-Founder and CEO of Huspy. Huspy is recognised as one of the fastest-growing proptechs in the UAE, with thriving operations in Dubai and Abu Dhabi. The company's mortgage unit is the largest in the UAE, processing over 25% of all residential home financing in Dubai, one of the world's most active real estate markets. 'We are pleased to renew our partnership with Huspy by leading this round. The team is building technology that modernises real estate and mortgage businesses, allowing brokers to reap substantial efficiency gains that translate into serving more clients, better,' said Rana Yared, General Partner at Balderton Capital. To support its expansion, Huspy is hiring across expansion and technology-specific roles. The company has attracted global talent from leading companies in technology and real estate and has established tech hubs in the UAE and Spain.