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The Venture Codex

Oqal Angel Network

Riyadh, Ar Riyad, Saudi Arabia

Overview

Oqal Group was formed as an endowment group by a group of young businessmen to be a platform that brings together angel investors and emerging entrepreneurs to form partnerships of economic feasibility that raise the welfare of society and enhance the quality of life. It enables the founders of entrepreneurial startups to develop innovative and fast-growing startups in a variety of sectors by providing access to smart capital and experienced angel investors.

Total investments
7
Lead investments
1
Investments · 12mo
3
Active investors
2

Sector focus

  • Communities
  • Finance
  • Social Network
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Investment portfolio

  • Siin

    Participated · Equity · May 2026

    Founded in 2024 by Ahmed Allawi, Hesham AlSaati and Khaled Albalooshi, Siin operates a live commerce marketplace that lets users buy and sell high-value goods via real-time livestreams and gamified shopping formats. The platform has scaled across Saudi Arabia, the UAE, Kuwait, Bahrain, Qatar and Oman and claims to have powered thousands of sellers, facilitated the sale of hundreds of thousands of items, and hosted tens of thousands of hours of live streaming. Siin is backed by regional programs such as Hub71 and InspireU and has attracted strategic regional investors. The company plans to use its recently raised capital to accelerate regional expansion, deepen its seller ecosystem, and scale its in-house platform. Siin positions itself as a localized leader in social and live commerce for the GCC.

  • Mantas

    Participated · Seed · Jan 2026

    Mantas is a Dubai-based insurtech startup building parametric insurance products that protect digital-first companies such as fintechs, e-commerce platforms, and SaaS providers from the financial impact of cloud infrastructure interruptions on services like AWS and Azure. Its platform continuously monitors cloud performance in real time, verifies outages through independent data sources, and triggers automatic payouts without the need for traditional claims processing. By combining real-time cloud risk monitoring with automated compensation, Mantas aims to eliminate a critical liability for companies whose revenues depend on uninterrupted cloud availability. The company is led by CEO and Co-Founder Basil Mimi. Newly raised capital will be directed toward advancing its risk-modeling engine, refining the insurance product, and executing early customer deployments across the MENA region and North America. Although still at the seed stage, Mantas is positioning itself as a specialized insurer for modern, cloud-reliant enterprises seeking faster, data-driven coverage.

  • Metric

    Participated · Seed · Sep 2025

    Founded in 2022 by Pakistani entrepreneurs Meenah Tariq, Omar Parvez Khan, and Dr. Habiba, Metric offers Max, an AI-driven “business co-pilot” that converts complex transactional data into clear spending analyses, forecasts, and growth recommendations for small and medium-sized enterprises. Built on a proprietary dataset of $4.2 billion in transactions, Max supports both English and Arabic and is already used by more than 130,000 businesses in 190 countries. The product integrates with platforms such as Shopify and Zoho and is accessible via web and Android, widening its distribution. Beyond analytics, the platform hosts a marketplace that connects users to embedded financial services and financing options. With fresh capital, Metric plans to deepen adoption in existing markets, expand pilots for integrated banking services across the GCC and other emerging regions, and launch a localized Arabic version for Saudi Arabia in 2025. The company’s cross-regional approach positions it to capture underserved SME segments in emerging markets. To date, Metric has secured $1.3 million in seed funding to fuel these growth initiatives.

  • TruBuild

    Participated · Seed · May 2025

    TruBuild is an AI-powered construction technology platform based in Riyadh, Saudi Arabia. The platform helps teams speed up tender evaluations, contract awards, and change management by up to 80%, minimizes unexpected changes and scope creep, and aims to deliver projects with greater accuracy, fewer delays, and improved cost control. Led by CEO Bisrat Degefa and CTO Dr. Sari Sabban, the company focuses on applying AI to reduce construction inefficiencies and improve collaboration. In May 2025 TruBuild raised $1M in Seed funding. The company plans to use the funds to enhance its AI platform, grow its engineering and commercial teams, and scale its impact across Saudi Arabia and abroad.

  • Nqoodlet

    Participated · Seed · May 2025

    Nqoodlet provides a fintech platform for SMEs offering smart corporate cards, real-time expense tracking, VAT automation, bookkeeping, and integrated financial services. The product is designed to reduce paperwork and operational friction so companies can focus on growth. The company serves over 600 SMEs across Saudi Arabia and the broader GCC region. Nqoodlet plans to expand its banking infrastructure, launch new financial tools, and grow its team across the GCC using the recently raised funds. The platform targets SME efficiency and cost savings through automation and consolidated financial workflows. Founders Mohamed Milyani and Yara Ghouth lead the company from Riyadh.

Team