Empowering Startups & Expanding Access to Capital
UAE-based investment firm Foras has acquired a 36% stake in Beban, a Bahrain-based crowdfunding platform. This happened in a strategic move to boost startup growth and improve access to capital for entrepreneurs across the region. The financial terms of the deal remain undisclosed.
Founded in 2022, Beban is a subsidiary of Hope Ventures. Moreover, it operates under a license from the Central Bank of Bahrain (CBB) as a regulated crowdfunding platform.
A Vision for SME Growth in MENA
Foras, headquartered in Abu Dhabi, has built a reputation for backing innovative startups in the MENA region. The firm’s investment in Beban aligns with its mission to support SMEs by bridging the funding gap. It does so through equity crowdfunding and Shariah-compliant Murabaha debt financing.
Mohamed Abouelnaga, Founder of Foras, emphasized the significance of the deal, stating:
“This marks a major step forward for both Foras and Beban. Through our collaboration, we aim to strengthening the startup landscape in the region by making funding more accessible to SMEs. The global crowdfunding market looks to hit $40.03 billion by 2033, and with the SME credit gap in Africa alone reaching $450 billion, there is immense potential for growth. By providing innovative funding solutions, we can help businesses overcome liquidity challenges and drive long-term success.”
Beban Crowdfunding – A Unique Investment Platform
Beban Crowdfunding has positioned itself as a key player in the crowdfunding industry, offering equity investment opportunities showcased on the Beban TV Show, along with additional funding prospects from the local and regional startup ecosystem.
With Foras’ investment, Beban aims to scale its operations, improve entrepreneurial support, and strengthen regional investment awareness. Foras has already made strides in this area through its media initiatives, such as the Elmal Elhalal podcast, which educates audiences on financial opportunities in the MENA region.
Hope Ventures Welcomes Foras as a Strategic Partner
Speaking on the partnership, Sh. Hamed AlKhalifa, Chairman of Hope Ventures Holding, expressed optimism about the collaboration:
“We are delighted to have Foras on board as a strategic partner. Their expertise and vast network will be crucial in enhancing Beban’s platform and expanding support for entrepreneurs. Beban Crowdfunding has already helped businesses in Bahrain and the GCC secure over $250,000 from 5,000+ individual and corporate investors, and with Foras’ backing, we are excited to take this success even further.”
A Step Forward for Regional Crowdfunding
The Foras-Beban collaboration is set to bring new features, improved funding resources, and greater investor participation. This partnership will not only provide entrepreneurs with the capital they need but will also offer investors more opportunities to fund promising startups in the region.
As crowdfunding continues to gain traction, Foras’ investment in Beban marks a significant move toward a more robust and inclusive financial ecosystem for SMEs in the MENA region.
