Riyadh: 17 October 2017 - Matic, the leading online marketplace for cleaning services in the GCC incubated by Badir Program for Technology Incubators and Accelerators, has raised $3 million in a Series A investment round led by Middle East Venture Partners (MEVP), the leading venture capital firm in MENA.
It will use the amount to introduce new products and features and likewise expand in the GCC.
The platform, which matches individuals seeking professional cleaning services with cleaning companies, has leveraged the technology that it developed to upgrade the convenience, quality, and safety of home cleaning.
Since its founding in 2016, Matic has facilitated more than 500,000 bookings, completed over two million hours of domestic cleaning, and activated over 2,000 cleaning professionals. It already has operations in four countries, namely UAE, KSA, and Lebanon.
Matic will be launched in Al-Ahsa and Jubail by mid November, making it available in 5 cities across the Kingdom in less than a year.
Rashed AlRashed, co-founder of Matic, said: "The market for online booking services is taking off in KSA. We’re proud to be paving the way that allows all residents of the Kingdom of Saudi Arabia to book a home cleaning service in just a few taps.”
On another hand, Nawaf Al Sahhaf, CEO of Badir Program for Technology Incubators said: “We are very proud of our entrepreneurs’ achievements. We are also delighted that they were able to prove themselves as developed and successful startups thanks to the hard work they have put in and the practical expert training they underwent in the program’s incubators. We hope that this investment round will be a starting point for the expansion and development of Matic businesses in the future”.
Walid Mansour, managing partner of MEVP, added: “We are excited to partner with the Matic team to solve the difficult problem of organizing the supply of part-time cleaning, especially in the GCC.”
Matic offers convenient access to multiple cleaning service providers with the benefits of various payment methods, ease of scheduling, and an intuitive technology to serve the user, and reporting on service quality to maintain the highest standards across the platform. You can access all services that Matic offers by going to the following link: https://maticservices.com/
The free cloud-based platform for suppliers of the service also greatly improves their productivity, with features such as driver route optimization, scheduling, client and staff management, accounting, and reporting.
About Badir Program
Badir Program for Technology Incubators, a Saudi national program under King Abdulaziz City for Science and Technology (KACST), was established in 2007 in order to stimulate innovation-based entrepreneurship in Saudi Arabia through technology incubation and capacity building programs. The program aims to promote and enhance the culture of innovation and independent businesses amongst the Saudi youth. It also strives to help young entrepreneurs develop their SMEs and diversify their sources of income.
MEVP is one of the largest venture capital firms in the MENA region and currently manages four regional technology-focused venture capital funds with more than USD 200 million in assets under management and another USD 100 million in co-investments. To date, MEVP’s team, comprising 23 investment professionals, have invested in more than 40 portfolio companies across MENA and Turkey.
Matic is the leading online marketplace for cleaning services in the Middle East operating in 7 cities across the UAE, KSA, and Lebanon. Matic aims to use technology to help regulate the industry and empower the individuals providing home cleaning services. Since its inception in 2016, Matic has facilitated more than 500,000 bookings, completed over 2M hours of domestic cleaning, and activated 2,000 cleaning professionals.