iMENA Holding
Overview
Founded in 2013, iMENA Holding, now restructured as a Saudi Closed Joint Stock Company, is a prominent regional leader in digital platforms across the Middle East and North Africa (MENA). Based out of Riyadh, Saudi Arabia, iMENA focuses on investment and development of high-growth online platforms. Co-founded by Nasir Alsharif, Khaldoon Tabaza, and Adey Salamin, the company has raised over $135 million in its recent pre-IPO funding aimed at expanding its businesses and preparing for a potential public listing.
Recent Developments
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April 27, 2025: iMENA Holding announced a $135 million pre-IPO capital raise, part of restructuring to become a Saudi Closed Joint Stock Company. This capital, involving private placements and in-kind contributions, will enhance the company’s investments in its key businesses: OpenSooq, SellAnyCar, and Jeeny.
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March 2025: Jeeny launched a humanitarian initiative "Riding for Gaza, Giving with Love" to support families in Gaza, demonstrating its commitment to social responsibility along with its strategic partnerships in Saudi Arabia.
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February 2025: Telr, a subsidiary of iMENA, secured UAE Central Bank’s Retail Payment Services License, marking a significant milestone in enhancing its role as a digital payments leader.
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January 2025: OpenSooq’s CEO, Adey Salamin, was appointed to the National Council for Future Technology, empowering its significant influence in future technological advancements in the region.
Company Information
| Attribute | Information |
|---|---|
| Founding Date | 2013 |
| Headquarters | Riyadh, Saudi Arabia |
| Founders | Nasir Alsharif, Khaldoon Tabaza, Adey Salamin |
| Revenue | Not publicly disclosed |
| Profits | Not publicly disclosed |
| Key Investors | Sanabil Investments, FJ Labs, Saygin Yalcin |
| Industry | Digital Platforms, Internet, Technology |
| Number of Employees | Approximately 201-500 |
Early History
iMENA Holding commenced its journey in 2013, focusing on investing in high-growth internet platforms tailored to the MENA region. The company was co-founded by Nasir Alsharif, Khaldoon Tabaza, and Adey Salamin, who envisioned establishing internet businesses with substantial regional reach. Initially, iMENA adopted a strategy of identifying early-win business models and providing them strategic and operational backing. Early on, the company gained significant traction with investments in ventures like OpenSooq, a major classifieds platform in the region, and SellAnyCar, the Middle East's first and largest online car buying service.
Company Profile and Achievements
iMENA Holding operates as a significant player in the digital platforms sector across the MENA region. By partnering with ambitious entrepreneurial teams, iMENA has successfully backed and scaled innovative online businesses.
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Strategic Focus on Marketplaces: Over the years, iMENA has concentrated on building horizontal marketplaces addressing vast sectors like real estate, automotive, and mobility, including platforms like OpenSooq and SellAnyCar, which have become key online hubs in the region.
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Major Milestones:
- 2013: iMENA was founded with a focus on rapidly scaling digital platforms.
- December 2021: Successful partial exits from several investments demonstrating strategic maturity and operational excellence.
- April 2025: Raised $135 million in pre-IPO funds to ramp up expansion efforts; the company was restructured as a Saudi Closed Joint Stock Company.
Current Operations and Market Position
As a digitally-driven investment group, iMENA continues to operate across significant sectors, including real estate, automotive, and mobility. The core business strategy involves enhancing synergies among its platforms and increasing ownership stakes, particularly in high-performing entities such as OpenSooq, SellAnyCar, and Jeeny. iMENA's operations notably leverage the vast digital economy potential of Saudi Arabia, contributing to approximately 40% of its revenues. Its strategic positioning allows it to influence the digital transformation agenda positively across the MENA landscape.
iMENA Group
iMENA Group, the broader entity encompassing iMENA Holding, acts as a springboard for tech companies in the MENA region. It provides funding and strategic guidance for startups focusing on internet services and information technologies. The group has been instrumental in supporting projects such as Telr, a crucial payment gateway solution, and Jeeny, an on-demand ride-hailing service.
Jabbar Internet Group
Jabbar Internet Group, often seen in relation to iMENA as a peer or sometimes a partner, is another influential entity in the region bolstering internet startups. Established by the team behind Maktoob, later acquired by Yahoo!, Jabbar emphasizes digital services and offers complementary insights and synergies with iMENA's overarching goals.
Conclusion
iMENA Holding stands as a substantial force in the MENA digital ecosystem, uniquely positioned to influence and participate in the rapid development of the region’s internet economy. Its strategic restructuring and robust funding reflect a clear trajectory toward further growth, and its potential public listing could significantly enhance its operational capacity. Looking forward, iMENA is set to continue shaping the digital landscape across the Middle East and North Africa, underpinned by a robust business model and strategic investor backing.