Cohort 8 of the ‘Raise’ Programme Launches with 11 Startups
April 9, 2025, 2:32 pm

Cohort 8 of the ‘Raise’ Programme Launches with 11 Startups

برنامج رايز

Spring Venture Services has launched Cohort 8 of “Raise: The Art of Fundraising”, a two-week intensive bootcamp designed to equip startup founders with the skills and knowledge needed to secure investment and scale their businesses. The programme is supported by The Labour Fund (Tamkeen) to prepare startups pitching at the ongoing StartUp Bahrain Pitch Series. The programme is facilitated by Spring Venture Services, and global venture capital firm Salica Investments, providing founders with capital, expert in-house capability, and access to MENA’s leading investors to increase the likelihood of startup success.

Since its inception, “Raise” has successfully conducted seven bootcamps in preparation for 15 StartUp Bahrain Pitch events, helping 104 startups refine their investor readiness and secure essential funding. The programme provides entrepreneurs with hands-on workshops, fireside chats, and one-on-one office hours, ensuring they gain a strong foundation in fundraising, pitching, and business strategy.

A key highlight of the programme is the StartUp Bahrain Pitch Series, where participating startups will have the opportunity to showcase their businesses before an esteemed panel of judges and an influential audience. These events are organised in collaboration with key industry stakeholders, including the Ministry of Industry & Commerce, the Labour Fund (Tamkeen), Bahrain Economic Development Board, and Bahrain Development Bank (BDB), and StartUp Bahrain. The events conclude with the announcement of the winning startup, which receives a cash prize deployed against key milestones, along with potential further funding and support from programme partners.
The participating startups in Cohort 8, categorized by industry, are:

Technology & AI
DOO is an AI-powered platform that enhances customer engagement, offering businesses an efficient way to personalize their customer interactions and streamline their services. Tamam provides an AI-driven order management system designed to help small businesses optimize their operations and manage orders effectively. Croozz Technologies introduces a telematics-based solution that rewards safe driving, encouraging responsible driving habits through real-time tracking and incentives.
Marketplace & E-commerce

BizBay is a digital marketplace that connects businesses for buying, selling, and investing, facilitating seamless transactions and growth opportunities. Cardue offers a platform for digital car care services, simplifying vehicle maintenance and repairs with on-demand service options. Ihdaa redefines gifting by integrating charitable donations, allowing users to send thoughtful gifts while supporting worthy causes.

Finance & Business Services
Safer provides innovative travel financing solutions, making it easier for individuals to plan and fund their trips. Rentat offers a digital solution for property management, automating tasks and streamlining processes for property owners and tenants alike.
Consumer & Lifestyle
Clany specializes in managing esports events, creating a platform that helps organizers execute successful and engaging competitions. Jalees offers an on-demand childcare platform, connecting parents with trusted caregivers for flexible childcare services. Seera provides a meal subscription service that supports local vendors, offering customers convenient meal options while helping food entrepreneurs thrive.
The Raise bootcamp continues to play a crucial role in fostering a strong entrepreneurial ecosystem by providing startups with access to key industry leaders, investors, and potential partners.

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BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, held its Annual General Meeting (AGM) at the company’s headquarters in the Seef District.
During the meeting, shareholders approved all items listed on the agenda, including the ratification of the minutes of the previous AGM held on 26 March 2024. The session reviewed and approved the Board’s Annual Report on the company’s activities and financial performance for the fiscal year ended 31 December 2024, and the shareholders expressed their satisfaction with the company’s operational and financial results during the reporting period.
The meeting also reviewed the Independent External Auditor’s Report on the company’s consolidated financial statements for the year ended 31 December 2024. Subsequently, the shareholders approved the audited financial statements for the fiscal year. Based on the Board’s recommendation, the shareholders approved the distribution of a cash dividend equivalent to 10% of the paid-up share capital.
Furthermore, the shareholders endorsed the allocation of a total amount of BD 172,500 as remuneration to the members of the Board for the year ended 31 December 2024, subject to prior clearance by related authorities.
The extension of the current composition of the Board was approved, which includes ten members and one CBB observer, for a further six-month term, expiring in September 2025, pending no objection from the CBB.
The meeting reviewed and approved the Corporate Governance Report for 2024, which affirmed the company’s full compliance with the corporate governance directives issued by the CBB and other applicable regulatory frameworks. The AGM absolved the Board Members of liability for any of their actions during the year ending on 31st December 2024, in accordance with the Commercial Companies Law.
In alignment with regulatory requirements, the session approved the reappointment of Ernst & Young (EY) as the company’s External Auditors for the fiscal year 2025, covering both the parent company and its subsidiaries—Sinnad and Bahrain FinTech Bay. The Board was authorised to determine the external auditors’ professional fees, subject to approval from the CBB, and the meeting concluded with a discussion of any additional issues as per Article (207) of the Commercial Companies Law.
Speaking on the company’s performance, Mr. Mohamed Al Bastaki, Chairman BENEFIT , stated: “In terms of the financial results for 2024, I am pleased to say that the year gone by has also been proved to be a success in delivering tangible results. Growth rate for 2024 was 19 per cent. Revenue for the year was BD 17 M (US$ 45.3 Million) and net profit was 2 Million ($ 5.3 Million).

Mr. Al Bastaki also announced that the Board had formally adopted a new three-year strategic roadmap to commence in 2025. The strategy encompasses a phased international expansion, optimisation of internal operations, enhanced revenue diversification, long-term sustainability initiatives, and the advancement of innovation and digital transformation initiatives across all service lines.
“I extend my sincere appreciation to the CBB for its continued support of BENEFIT and its pivotal role in fostering a stable and progressive regulatory environment for the Kingdom’s banking and financial sector—an environment that has significantly reinforced Bahrain’s standing as a leading financial hub in the region,” said Mr. Al Bastaki. “I would also like to thank our partner banks and valued customers for their trust, and our shareholders for their ongoing encouragement. The achievements of 2024 set a strong precedent, and I am confident they will serve as a foundation for yet another successful and impactful year ahead.”
Chief Executive of BENEFIT; Mr. Abdulwahed AlJanahi commented, “The year 2024 represented another pivotal chapter in BENEFIT ’s evolution. We achieved substantial progress in advancing our digital strategy across multiple sectors, while reinforcing our long-term commitment to the development of Bahrain’s financial services and payments landscape. Throughout the year, we remained firmly aligned with our objective of delivering measurable value to our shareholders, strategic partners, and customers. At the same time, we continued to play an active role in enabling Bahrain’s digital economy by introducing innovative solutions and service enhancements that directly address market needs and future opportunities.”
Mr. AlJanahi affirmed that BENEFIT has successfully developed a robust and well-integrated payment network that connects individuals and businesses across Bahrain, accelerating the adoption of emerging technologies in the banking and financial services sector and reinforcing Bahrain’s position as a growing fintech hub, and added, “Our achievements of the past year reflect a long-term vision to establish a resilient electronic payment infrastructure that supports the Kingdom’s digital economy. Key developments in 2024 included the implementation of central authentication for open banking via BENEFIT Pay”
Mr. AlJanahi concluded by thanking the Board for its strategic direction, the company’s staff for their continued dedication, and the Central Bank of Bahrain, member banks, and shareholders for their valuable partnership and confidence in the company’s long-term vision.