Dubai’s Zbooni tops up Series A; Former Swvl exec’s Hotdesk gets seed money

 Dubai’s Zbooni tops up Series A; Former Swvl exec’s Hotdesk gets seed money

Zbooni, a Dubai-based social and conversational commerce platform, has raised $4.5 million in an extended Series A funding round.

The company had previously raised $5 million in Series A funding and has now closed the round, it said.

The extension round was led by regional family office March Holding, which has interests across businesses in information and communication technology, e-commerce and payments infrastructure.

March Holding was joined by Enterprise Fund, a California-based venture capital firm founded by former senior Atlassian executives; and European private investors who have operated global payments and e-commerce businesses. They were joined by existing investor Chalhoub Group, which participated via an investment arm.

Zbooni said it will use the funding to hire people, develop its proprietary technology and expand its customer base.

Founded in 2016 by Ramy Assaf and Ashraf Attia, Zbooni’s platform enables its 4,000 small and medium enterprise clients to interact with their customers.

Hotdesk

Dubai-based on-demand workspace booking platform Hotdesk has raised a $1 million seed funding round.

Virtuzone led the funding round. AlZayani Investments took part in the round through its arm Zayani Venture Capital.

A few angel investors including Youssef Salem, chief financial officer at Swvl, and Khaled AlFahim, board member in Abu Dhabi’s Chamber of Commerce and at Berlin’s Black Lane, also joined in.

The startup was previously backed during its early stages by Flat6Labs, a Middle East and North Africa-focussed startup accelerator and investor.

Hotdesk was founded in 2020 by Mohamed Khaled, who until recently was the finance director at Swvl. It allows businesses with underutilised workspaces to generate additional revenue by subletting their vacant office space as on-demand workspaces.

During its soft launch to date, Hotdesk claims to have generated over $100,000 in gross bookings, acquired more than 1,500 users, and more than 3,000 rooms and areas from across 55 cities.

Aman Malik

The Capital Quest