RIYADH: Dubai-based digital real estate platform SmartCrowd raised $3 million in a bridge round led by venture capital firm Mad’a Investment Company with participation from other firms.
The company offers a real-estate crowdfunding platform to allow individual investors to take a fractional share in a rental property, according to MAGNiTT.
“Our latest bridge funding will help us rapidly scale to new heights and continue our mission of making alternative investment universally accessible to the masses,” SmartCrowd CEO and co-founder, Siddiq Farid, said in a statement.
The company will use its acquired funds to expand into new markets like Saudi Arabia and Pakistan as well as scale their operations and products, MAGNiTT reported.