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18-08-21
Jeddah-based platform Mabaat insures USD2.4M in seed funding round
(MENAFN)Jeddah-based accommodation platform Mabaat insured SR9 million (USD2.4 million) in a seed funding round, as it plans to build on its contribution to Saudi Arabia’s tourism goals.
To offer short-term rental accommodation, the Saudi startup presents a platform for property owners, much like the AirBnB model. Unlike the US holiday rental platform, Mabaat handles the entire rental process from marketing, booking and payments to property maintenance.
Mabaat runs mid- to high-end private homes and compounds throughout the Kingdom.
The founder, Talal Al-Sorayai stated that “We are extremely proud of this investment that supports our vision in disrupting the accommodation market.”
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