SmartCrowd get US$3M bridge funding for expansion into Saudi Arabia

SmartCrowd get US$3M bridge funding for expansion into Saudi Arabia

SmartCrowd, Dubai-based real estate crowdfunding platform, has closed a bridge round in excess of USD $3 million to fuel its expansion in new markets including Saudi Arabia and Pakistan. The funding will enable the rapidly growing company to scale its operations, and products.

The company confirmed that it has grown its investor base nearly six times since the pandemic. Assets under management have grown more than 60 percent quarter-on-quarter, while the number of investors has doubled in the last quarter.

Saudi-based Mad’a Investment Company is the lead investor of the bridge round. TriCap Investment, a diversified investments group based in Dubai, also made a follow-up investment in SmartCrowd and was joined by Amaana Capital, the venture capital arm of US-based NRD Capital., along with other prominent angel investors in the region.