“We Got Funded!” KSA-Based Siin’s New Funding Round Led by VentureSouq and Shift Group Raises Total Capital to US$3 Million

Siin, a Riyadh-based live shopping platform focused on the MENA region, has raised new funding, bringing its total capital raised to US$3 million.

The round was led by VentureSouq, a UAE-based venture capital fund manager, and Shift Group, a Doha-headquartered diversified conglomerate, with participation from Abu-Dhabi based venture capital firm Plus VC and Saudi-based angel investor network Oqal.

Regional investors include Suhail Al Gossaibi, founder of Suhail Algosaibi Enterprises and Chairman of Tenmou, a Bahrain-based angel investing company; Mussab Al Hakami, founder and CEO of Mala Inc., a Saudi-based B2B buy now pay later platform; and Abdulla Al Hashmi, General Manager of Salla E-Commerce Platform, also headquartered in Saudi Arabia.

Founded in 2024, Siin was launched by Hesham AlSaati (formerly of Delivery Hero), Ahmed Allawi (formerly of Tap Payments), and Khaled Albalooshi (formerly of Telp). The platform allows users to buy and sell high-value goods through livestreamed and gamified shopping experiences.

“In under a year, we’ve scaled across Saudi Arabia, the UAE, Kuwait, Bahrain, Qatar, and Oman, driving new behaviors in live shopping and social commerce,” AlSaati said. “We’ve facilitated the sale of hundreds of thousands of items, with tens of thousands of hours of live streaming, showing clear signs of strong engagement and marketplace liquidity.”

The startup said the new capital will be used to accelerate its regional expansion, increase its footprint across key Gulf markets, and strengthen its seller ecosystem.

“Siin is tapping into a powerful intersection of culture and technology,” Suneel Gokhale, General Partner and co-founder of VentureSouq, said. “What stood out to us is the team’s ability to localize a global trend in a way that feels native to the region. By reimagining traditional trading behaviors through live, interactive formats, Siin is unlocking a new category of commerce in the GCC with significant scale potential.”

Meanwhile, Hasan Haider, Founder and Managing Partner of Plus VC, said Siin is “shaping a new behavioral layer for commerce in the region” by digitizing traditional trading habits and combining them with live and AI-driven features. He added that the firm sees strong network effects in the platform and expects Siin to play a leading role in the Gulf’s social commerce market.