RasMal, a Saudi equity management platform, has acquired Pentugram, a cloud-based software tool automating investment processes. The deal, for an undisclosed sum, reinforces RasMal’s commitment to supporting the entrepreneurial ecosystem in the Middle East and North Africa (MENA) region.
With this acquisition, RasMal aims to simplify fundraising and investment processes by utilizing Pentugram’s platform. This move allows RasMal to offer investors and fund managers feature-rich solutions for portfolio management and deal sourcing.
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Pentugram, founded in 2018, and RasMal, launched in 2019, are prominent platforms in the investment and business landscape. Pentugram, established by Hasan J. Zainal and Miled Elias, streamlines investment processes for various entities in the MENA region. On the other hand, RasMal, founded by Basil Alkuraya, Nasser Al-Tamimi, and Salem Aljawini, has become a key player in Saudi Arabia by providing cap table management services to local and regional businesses, forming strategic partnerships along the way.
Through this acquisition, RasMal aims to focus on private capital investment management solutions, expanding its offerings beyond private companies. Al-Tamimi, RasMal’s COO, emphasized the shared vision between the management platform and Pentugram to provide efficient and transparent solutions in the MENA investment landscape.
As startups and capital firms continue to proliferate in the regional market, RasMal believes its user-friendly tech solutions will become even more indispensable for the ecosystem’s sustainability. Zainal expressed confidence in the platform’s evolution post-acquisition, foreseeing broader accessibility to asset managers and enhanced returns for all users.
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