Rizek raises $3.5 million in seed funding from Abu Dhabi Investment Office

Rizek raises $3.5 million in seed funding from Abu Dhabi Investment Office

by CGIA Institute

Rizek, an Abu Dhabi-based home services startup raised $3.5 million in a seed round funding. Rizek raised the said amount from the Abu Dhabi Investment Office (ADIO), E-Tech Investments, Rozana Investments, and some other investors. Rizek is very excited and optimistic because USD$ 3.5 million is one of the largest seed fund raised by a regional started up. The company boast of a total of USD$ 5 million since it raised USD 1.5 million just 9 months ago.

Abdallah Abu-Sheikh founded the home services company in 2019 to enable users to book different types of home and beauty services through its mobile apps technology. The company primarily operates in the United Arab Emirates & Jordan.

The Rizek app offers a variety of home services which includes home main home maintenance (e.g. laundry, gardening, cleaning, plumbing, electrical works, etc.), beauty & wellness (for both men and women), healthcare, and education through its network of freelance workers. Users who patronize this platform may with either credit cards or cash. The company hopes reduce the struggle of freelance workers and increase job opportunities locations it operates. It also plans to work with freelancers and SME service providers to help them improve their skills and land more opportunities.

Abdallah Abu-Sheikh, the founder and CEO of UAE based startup Rizek, said, “Most of the big cities in the region have a service-based economy. However, the way these services are delivered happens to be outdated and costly. We at Rizek believe that the region needs an inclusive platform where customers can view all their options before commissioning the services.”

“What we plan to do at Rizek is to essentially democratize the informal workspace by being the first to build a one-stop-shop marketplace for services in the region.  This will allow both suppliers as well as consumers to maximize the value and benefit they receive,” he added.

ADIO’s Director General Tariq Bin Hendi, said, “Rizek is part of a new generation of start-ups thriving within the Abu Dhabi innovation ecosystem. ADIO’s investment will fuel the next stage of the company’s growth while helping to connect more freelancers and SMEs with potential commercial opportunities.”

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