Vennre’s $9.6M Round Tests Saudi Arabia’s Appetite for Private Market Access

The Riyadh-based wealth-tech startup is targeting high earners as private investing opens up beyond institutions

Saudi wealth-tech startup Vennre, based in Riyadh, has secured US$9.6 million (SAR 36 million) in a pre-Series A round combining equity and debt, as it scales its platform for high-income investors seeking access to private markets.

Vision Ventures and the anb seed Fund jointly led the pre-Series A round, which also drew backing from Sanabil 500, Ace & Co, Plus VC, and several strategic individual investors with experience across private banking, technology, and entrepreneurship.

Established in 2021 by Anas Halabi, Abdulrahman Al Malik, and Ziad Mabsout, Vennre focuses on the HENRY segment—high-earning professionals who typically lack access to private investments dominated by institutions and ultra-wealthy individuals.

The platform curates opportunities across real estate, private equity, venture capital, and private credit, with a focus on transparency and Shariah-compliant structures. Vennre positions itself as an alternative to both traditional wealth managers and consumer trading platforms, sitting instead at the intersection of fintech and private markets.

Why this matters in Saudi Arabia

Private markets have grown into a major asset class globally, managing more than US$14 trillion, but access has remained largely restricted to institutions and ultra-wealthy individuals. Retail participation is still limited, accounting for less than 5% of total private market exposure, largely due to high minimums, complex structures, and regulatory constraints.

In Saudi Arabia, this dynamic is beginning to shift. Ongoing regulatory reforms and fintech development under the country’s broader financial sector transformation are gradually expanding who can participate in capital markets. These changes are creating space for new platforms that sit between traditional private banks and mass-market investment apps, particularly for high-income professionals who fall outside institutional channels.

Khalid S. Alghamdi, chief executive of anb capital, said the investment reflects growing recognition of this gap. He noted that platforms like Vennre are emerging to offer structured and Shariah-compliant access to private investments, allowing high earners to participate in an asset class that has historically been out of reach, while remaining aligned with local regulatory and cultural requirements.

From transactions to long-term wealth

Mabsout said the company is focused on long-term wealth creation rather than short-term deal flow.

“We are building for sustained wealth creation, not one-off transactions,” he said, adding that many professionals in the region earn well but lack disciplined tools to compound their wealth. The new funding, he said, will allow Vennre to expand from curated deals into a broader wealth journey built on trust and alignment.

To date, the company has surpassed US$40 million in transaction value on its platform, signalling early adoption among its target users.

Use of funds and near-term priorities

Client growth: Vennre said the fresh capital will be directed toward expanding its reach among high-income clients, as interest in alternative assets continues to grow in Saudi Arabia. The company plans to invest in customer acquisition and education, targeting professionals who are familiar with public markets but have limited exposure to private investments.

Product development: Part of the funding will also go into product development, with a focus on enhancing platform functionality and improving how users discover, evaluate, and track private market opportunities. These updates are aimed at supporting more consistent participation rather than one-off transactions.

Local expansion: In parallel, Vennre is looking to deepen its local footprint as Saudi Arabia’s fintech ecosystem matures. This includes strengthening operational capabilities, building relationships with regulators and partners, and aligning more closely with the country’s evolving financial infrastructure.

A measured bet, not a mass-market play

Unlike consumer trading apps or robo-advisers, Vennre is not targeting mass retail investors. Its focus on high earners, private assets, and Shariah-compliant structures places it in a narrower—but potentially more resilient—segment of the wealth-tech market.

For investors, the bet appears to be less about rapid user growth and more about whether regulatory change, rising financial literacy, and appetite for alternatives can support a new category of private investing platforms in the Kingdom.

Outlook

Vennre’s pre-Series A round highlights a broader shift underway in Saudi Arabia’s financial sector. As private markets grow and access barriers begin to loosen, platforms that combine technology with structured governance may find a receptive audience among high-income professionals.

Whether this demand scales beyond early adopters remains to be seen. But Vennre’s progress so far suggests that private investing—once firmly out of reach for individuals—is starting to move closer to the mainstream, at least for a select segment of the market.

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Quick Takeaways

• Vennre raised US$9.6 million in a pre-Series A round structured as a mix of equity and debt to expand its wealth-tech platform in Saudi Arabia.
• Vennre targets high-income professionals (HENRYs) seeking access to private market investments typically reserved for institutions and ultra-wealthy investors.
• The platform focuses on Shariah-compliant private assets, including real estate, private equity, venture capital, and private credit.
• The company has processed over US$40 million in transactions, indicating early traction among its target users.
• The funding comes amid regulatory liberalisation and fintech growth in Saudi Arabia, which are expanding access to alternative investments.