Mazadak Secures $10 Million Investment
The funding round will help Mazadak expand into new markets.
By Inc.Arabia Staff
Saudi Arabia-based bidding platform Mazadak has wrapped up SAR 37.5 million ($10 million) in a funding round led by Revival Lab, alongside a consortium of family offices.[1]
Mazadak aims to connect buyers and sellers through its platform.
Mazadak hopes to advance auction methodologies and enhance the way transactions are conducted in the digital age.
Mazadak, which Prince Sultan bin Abdullah bin Abdulaziz Al Saud founded in 2021, streamlines the auction process through its online marketplace.
Mazadak will move more quickly to enter new markets as a result of the most recent round.
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