alfii Raises $2.5M in Pre-seed Funding
UAE Startup alfii Secures $2.5M for Development of Fintech-Powered HR Platform.
Funding Round Info:
Dubai-based HR tech startup, alfii, has successfully raised $2.5 million in a pre-seed funding round. The funding round was led by Preface Ventures, a U.S.-based venture capital firm that focuses on infrastructure enterprise companies. Other participants in the round included Kayan Ventures, UAE-based Aditum Ventures, and Wayfinders, along with a group of local and regional angel investors. The funds will be used to expand the team and continue the development of alfii's fintech-powered HR automation platform.
About alfii:
alfii is a Dubai-based HR tech startup that aims to revolutionize HR management in the MENA region. Founded in 2022 by Yousef Albarqawi, Becky Jefferies, and Dina Mohammad-Laity, alfii provides a fintech-powered platform designed to help growing businesses manage their HR workload and break free from time-consuming administrative work. The platform focuses on automating and simplifying HR operations and payroll, offering a refreshingly easy way to onboard and pay employees. With a user-friendly interface, alfii aims to create a better, people-first experience for teams in startups, SMEs, and fast-growing companies. The company's mission is to become the most comprehensive fintech-powered people platform that helps companies thrive by taking care of their people.
About Preface Ventures:
Preface Ventures is an early-stage investment firm that specializes in backing repeat founders who are building the frontier of enterprise infrastructure and software. The firm is dedicated to partnering with teams that aim to improve our work through innovative enterprise solutions. Preface Ventures invests meaningful capital, typically between $500k and $2M, in pre-seed and seed rounds. The firm prides itself on being an early supporter of startups, often being the first to write a check and investing even when the founders do not yet have a company bank account. Preface Ventures is committed to supporting founders through the highs and lows of their journey, helping to bring new companies into existence.
About Kayan Ventures:
Kayan Ventures is an early-stage venture fund with a global remit. The firm leverages a unique pipeline of global deals, with a particular focus on HealthTech and ClimateTech. Kayan Ventures invests in deep tech, data-driven, and tech-enabled startups that are working on novel and essential technologies with early signs of success in markets that need them to deliver quality of life improvements. In the HealthTech sector, Kayan Ventures looks for investment opportunities in areas such as medical devices, life sciences and longevity, artificial intelligence and machine learning, health data analytics, and digital therapeutics. In the ClimateTech sector, the firm seeks out investment opportunities in key areas such as battery technology, precision and sustainable agriculture, analytics and IoT, built environment, and food and water security. The firm was founded by Shaker Muasher and Yousef Nassar. Shaker has been an active angel investor and advisor to several technology-driven and socially impactful startups, while Yousef embarked on his entrepreneurial career shortly after leaving Procter & Gamble, co-founding and growing Eon Dental.
About Aditum Ventures:
Aditum Ventures is an early-stage venture capital fund that invests in fintech and B2B software companies across the Middle East and North Africa (MENA) region. The fund is part of Aditum Investment Management Limited, a company incorporated in the Dubai International Financial Centre and regulated by the Dubai Financial Services Authority. Aditum Ventures partners with strong founding teams seeking to disrupt large industries. The fund's investment strategy is based on three central pillars: sector, geography, and stage. It specializes in the financial technology and B2B software sectors, leveraging domain expertise within the investment team and the broader Aditum firm. The fund focuses on investments in the MENA region, where it can leverage its network and market expertise to support founders. It invests from the pre-seed stage to Series A, seeking ownership stakes of 5% to 15%, with 50% of its capital reserved to provide follow-on capital in later rounds. The fund is managed by Lachlan Hughes, Head of Venture Capital, and Bejin Thomas, Venture Capital Investment Analyst. Both bring a wealth of experience in technology investing across venture capital and private equity.
About Wayfinders:
Wayfinders is a Dubai-based company that builds and invests in ambitious companies aiming to change the way the world works. The firm combines technology, human capability, market expertise, and limitless ambition to create a significant impact in various sectors. Wayfinders is involved in a diverse range of ventures, including building the largest community of tech talent, simplifying global onboarding processes, promoting financial wellness for all employees, and shaping the future of workspaces. The firm is also recognized as the number one investor to build and exit recruitment businesses. In addition to building companies, Wayfinders also invests in innovative solutions and services that are passionate about changing how the world works. The firm is open to exploring partnerships with those who share their vision and values, and it encourages innovators to get in touch. Wayfinders is committed to changing the way the world works and is continuously looking for ways to prepare for the future of work.