Interested in more data on startup investments? Access our data on 7,490+ startup funding rounds
Kuwait-based recruitment platform Khibra connecting employers, universities, and young talent, has announced its acquisition of Bahraini counterpart, Majra in a horizontal expansion that aligns with their vision to service the GCC markets.
Founded in 2020, Khibra set forth to become a catalyst for talent recruitment, fast-tracking young talent into job markets and extending their recruitment platform across the GCC. Founded in Bahrain in 2017, Majra launched its career platform designed to match young professionals with employers based on work culture. The merger will allow the two startups to consolidate their skillsets, network, and Tech stack to create untapped opportunities for job seekers in the region.
As recorded in our Q3 2021 MENA Venture Investment Report, exits in MENA have observed a 40%YoY growth by Q3 2021 reaching their second yearly record after an all-time high of 32 exits in one year in 2019. Exits signify and ensure a good return on investment for all stakeholders involved including the acquired startup and their initial investors. 2 exists in gaming took the Jordanian and Lebanese startup scenes to another level with card game studio Jawaker and streaming platform Rawa.TV. Similar horizontal expansions have been observed this year in Morocco with E-commerce marketplace Karny.ma acquiring its local counterpart Chari.ma.
Fund, launch, and build your new venture. Get funded by 360 Nautica
Khibra’s acquisition of Majra marks yet another early milestone for a company that has already witnessed incredible growth, having also recently celebrated another landmark event. Earlier in March, The Taken Seat, one of the first digital venture builders in the MENA region, took a non-control stake in Khibra as part of a move that would assist Khibra in leveraging an internal ecosystem of talent, proprietary knowledge, infrastructure, and other critical resources. Fahad Al-Sabah, Founder & CEO of Khibra highlighted “Since its founding, Khibra has built a growing, inclusive network that supports our region’s employers, involves universities in the hiring process, and empowers the young talent. Our latest acquisition will help Khibra accelerate its mission drastically by connecting employers more easily to regional talent and by making internships and entry-level jobs more accessible. We look forward to spearheading even more efforts as part of our commitment to becoming the recruitment platform of choice for recent graduates, and are only just beginning to scratch the surface of everything Khibra is capable of doing as we continue to connect employers, universities, and young talent in the region.”
Since its founding, Majra quickly grew to become one of the leading recruitment startups in Bahrain, connecting job seekers with companies that aligned with applicants’ goals and values. With hundreds of successfully placed hires and thousands of candidates, Majra caught the attention of the Khibra team. “Majra’s mission has always been to simplify the job application and hiring experience and make it more exciting for young people,” elaborated Mahmood Zeyad, Co-Founder & CEO of Majra as Co-Founder Najma Ghuloom concludes “the acquisition would allow both Majra and Khibra to utilize each other’s strengths and accelerate the vision of fast-tracking young talent into the job market. We look forward to everything Khibra has in store for the career paths of upcoming generations, and we are proud to have been an integral part of that process.”
Scan this startup landscape. Access real-time data on 9,400+ startups in MENA