Mnzil has raised US$ 11.7 million (SAR 44 million) in a Series A funding round led by Founders Fund, marking the venture firm’s first lead investment in Saudi Arabia. Participation also came from existing backer COTU Ventures and support from Waad Investment.
Launched in 2024 by cofounders Abdulmajeed Al-Babtain and Abdulrahman Al-Shaya, Mnzil provides integrated workforce housing, transportation, and support services for blue collar workers. The platform offers a tech-enabled, end-to-end solution for employers managing large-scale labor accommodation needs. In less than two years, Mnzil has expanded to more than thirteen cities across Saudi Arabia, managing over sixty buildings that serve more than 100 corporate clients, including Smasco, EFSIM, Barq, and Sixt.
With the new funding, Mnzil plans to pivot toward purpose-built developments rather than relying solely on existing buildings. The company has earmarked a 22,000 square meter site to host six new workforce housing buildings, in collaboration with local landowners and real estate developers. This marks a move toward creating scalable, higher-quality accommodation infrastructure.
Backing from Founders Fund, a global investor known for early investments in SpaceX, Airbnb, and Palantir reflects growing international confidence in Saudi Arabia’s proptech sector. As regional construction, logistics, and industrial projects accelerate under the country’s infrastructure and development plans, demand for organized workforce housing is rising.
According to publicly available Saudi labor data, expatriate workers make up a large portion of the workforce in sectors such as construction, logistics, and services, highlighting the scale of the workforce housing market.
Mnzil’s integrated model not only ensures compliance and safety standards but also alleviates corporate clients from the logistical burden of housing and transporting their workforce. This positions the company as a key infrastructure enabler for labor-intensive industries in the Gulf region.
The $11.7 million Series A reflects the scale of the opportunity and enables Mnzil to transition from managing converted facilities to delivering purpose-built, high-standard housing a move that could reshape workforce housing norms across Saudi Arabia and potentially the wider GCC markets.
Mnzil secures $11.7M series A to expand workforce housing across Saudi Arabia