Bahrain-based Unipal, has raised a six-figure seed round, led by Oqal with participation from other angel investors. The startup secured its first seed round from Bahrain-based angel network, Tenmou, back in May 2020.
Founded in 2019, Unipal provides university students access to tailored discounts and promotions through digital identification. The startup focuses on helping students with the non-academic aspects of their lives by helping them save money as well as connecting them to events and activities.
Ali Al-Alawi, managing director of Unipal, said: “The investment round will boost our push for the new release. Our investors are also strategically selected to further grow Unipal. We have set high targets for 2021 and we’re excited to hit the ground running."
With this new round of investment, Unipal will be able to launch its brand-new application with more advanced features, invest in its technology, and enhance its product offering to ensure the provision of smoother experiences for students. Currently, Unipal is working on building a system where vouchers are given digitally through the application.
“We are truly proud of Unipal and foresee a great future ahead for the founders and the team within the region and beyond. Our main mandate since setting up Oqal in the Kingdom of Bahrain is to support Bahraini startups source and have access to means of financing, mentorship and market entry to the Kingdom of Saudi Arabia and the region. Our aim is to be a key player supporting both the Bahraini and Saudi startup ecosystems and will always continue to do so. We wish the team at Unipal all the best and success,” said Khaled Zainalabedin, president and founder of Oqal Angels Network.