Hope Ventures invests in YAS Holding and RestHero
- UAE-based social commerce startup has raised $200,000 from Bahrain-based VC firm Hope Ventures and Saudi investor and co-founder of Riyadh Angel Investors, Khalid Al-Taweel.
- The deal was announced during the entrepreneurial TV show "Beban," produced by Hope Ventures.
- Founded in 2019 by Abdulla Alshimmari and Ahmed Khalifa, RestHero offers a B2B SaaS platform to help e-commerce businesses optimise sales through different social media channels.
- It plans to use the funding to expand to Saudi Arabia.
- During the same episode, YAS, a UAE-based manufacturer of kitchen supplies and home furniture also raised $1.3 million from Hope Ventures and Majed Alkhan representing Infracorp, a social infrastructure group recently established by GFH group.
- YAS was founded in 2012 by Yasser Shuaib and Ali Al-Haddad.
Hope Ventures, the investment arm of Hope Fund and producers of Beban TV show, co-invests USD 1.5m in YAS Holding and RestHero, alongside the private sector on the fourth episode of Beban Season 2, which can be streamed on Shahid platform for free, or watched at 6 PM on Bahrain TV and 9:30 PM on Alrai TV.
On the fourth episode, YAS Holding, a group holding company that manufactures and supplies furniture with a focus on closets and kitchens, co-founded by Yasser Shuaib and Ali Al-Haddad, raised USD 1.3m from Hope Ventures and Mr. Majed Alkhan representing Infracorp, the social infrastructure group recently established by GFH group. While RestHero, a B2B SaaS solution that optimizes sales through social media, co-founded by Dr. Abdulla Alshimmari and Ahmed Khalifa, raised USD 200k from Hope Ventures and Saudi investor and co-founder of Riyadh Angel Investors, Dr. Khalid Al-Taweel.
Fajer Al Pachachi, General Manager at Hope Ventures, said: “I am excited about the co-investments that occurred in this episode, as they represent a true attestation to the efficacy of Beban’s mission in matchmaking high-potential businesses with strategic investors who can accelerate their growth with their expertise.”
She further added: “Ali and Yasser have built a robust foundation having a presence in 8 countries, and Infracorp brings a tremendous wealth of industry knowledge and reach that will undoubtedly contribute to advancing the company towards their next milestone of growth. While Dr. Khalid AlTaweel’s expertise in technology will further complement RestHero’s developmental needs and drive forward the product to regional markets.”
Mr. Majed Alkhan, CEO of Infracorp, commented on Infracorp’s co-investment in YAS Holding: “Infracorp was launched to help accelerate growth and investment in innovative businesses that are in line with our vision and strategy, with US$1.1 billion in equity and more than US$5 billion of assets under management. One of our pillars of innovation is to invest in businesses that elevate living, which is applicable to YAS Holding. As a Bahraini company that has a regional presence, YAS has demonstrated sustainable traction over the years; and we look forward to conveying our expertise to help the company grow and expand globally.”
Dr. Khalid AlTaweel, Co-Founder of Riyadh Angel Investors, commented on his co-investment in RestHero: “As an investor in over 50 emerging tech startups from various financial, health, and commercial sectors, I always look for innovative solutions that are run by a distinguished team and contribute to solving existing problems on the ground and operate with a business model that leads to profitability within two years at most. Beban TV show gave me the opportunity to get acquainted with many startups in the Arab world, and I am pleased to be co-investing with Hope Ventures in RestHero, and I look forward to contributing to its success.”
Ali Al-Haddad, Co-Founder of YAS Factory, commented on their fundraising: “We are excited to start this new year with this remarkable achievement, as we were able to gain the support and confidence of such a prominent group of esteemed investors. At YAS, we were able to adopt a proactive and effective approach to transform challenges into opportunities. This investment will help us move forward with our expansion plan and increase our production capacity, as well as support our constant keenness to attract distinguished talents that will contribute to the development and expansion of the company globally.”
Dr. Abdulla Alshimmari, Co-Founder, and CEO of RestHero, commented on their fundraising: "Beban TV show is the "door" that enabled us to raise USD 200K. The investment will help us at RestHero.io to grow stronger in the UAE by helping more SMEs and students to thrive in their businesses by selling direct sales on social media. We also plan to grow in 1 city in KSA this year. Additionally, this investment will help us to invest in technology development, building new features, and improving the existing platform.”
Alongside Mr. Majed Alkhan and Dr. Khalid AlTaweel, episode 4’s panel of investors included Ms. Mashael Fairooz, Founding Partner of JEO Capital headquartered in Bahrain, and was moderated by His Excellency Aymen bin Tawfiq Almoayed, Chairman of Hope Fund, who was also representing Hope Ventures’ investments.
A new episode of Beban will air every Wednesday of this month. You can watch the next episode airing on the 1st of February 2023, on Bahrain TV at 6 PM and on AlRai TV at 9:30 PM or anytime on the region’s first and biggest video-on-demand platform, Shahid.