Unifonic was established in 2006 and supports more than 1,700 businesses with over 10bn annual transactions processed in different channels. It specializes in connecting local enterprises with their customers, including leading banks, financial institutions, and government entities throughout the region, as well as healthcare, retail, e-commerce, and transport and logistics providers worldwide. With its strong foothold in the Saudi market, the region’s most active and lucrative for tech startups, Unifonic is poised for a successful IPO in the coming two years benefiting from favorable market conditions in KSA and the IPO prospects on Tadawul.
Unifonic raised USD140mn since establishment with the backing of region’s leading investors including Sanabil Investments, a PIF-owned investment company focused on private growth investments, Softbank, one of the largest technology investors globally, STV, SVC, Raed Ventures and others.
Dalal Jamal Al Shaya, Director of Private Equity at Kamco Invest said: “Our participation in this landmark investment underscores our confidence in Unifonic’s strong fundamentals, strategic vision, and exceptional management team. The company has evolved into a true regional technology champion, demonstrating impressive growth momentum supported by leading regional and international investors.”
This investment aligns with Kamco Invest’s strategy of offering its clients distinctive, high-value opportunities in the region’s most promising and fastest-growing sectors through investments in leading technology companies in the region with a planned, near-term IPO on local capital markets.
Co-Founder and CEO of Unifonic, Ahmad Hamdan, said: “We are delighted to see Kamco Invest amongst our esteemed list of shareholders as we keep working towards achieving our goals of becoming a unicorn ahead of our IPO in the next 24 months. We are grateful to our team members, clients, and existing shareholders for believing in us and their continuous support in helping Unifonic achieve its vision of becoming a prominent global player in customer engagement services. We look forward to the exciting journey ahead together.”
Al Shaya concluded, “This investment is a key step in our broader strategy to expand Kamco Invest’s presence in the regional technology ecosystem and build on our established tech initiatives in the US. It reflects our ongoing commitment to generating long-term value for our clients while capitalizing on the significant growth opportunities across the Gulf region’s dynamic markets.”