The Kuwait-based on-demand home services platform MyHome has successfully raised $1.75 million in its latest funding round valuing the company at $12.5 million. The Bridge round, leading to their Series A in 2022, was led in participation with Rasameel Investment Company, as well as early investors in the platform and co-founders Abdullah Marafi, Mohammed Alawadhi, and Bader Altukhaim.
Launched in 2018, the MyHome app is a home services platform that connects users with local technicians, service providers, and suppliers. The e-servicing startup has over 30 different service categories, that range from AC Maintenance and Hourly Cleaning, to Car Wash and Pet services. Based on our MENA H1 2021 Venture Investment Report, the Home Services sector observed a 153% growth of VC Funding in MENA in the second quarter of 2021 as compared to Q2 2020.
Through its unique UX/UI, Myhome set forth to disturb the home servicing industry and solve major pain points in transparency and efficiency. Through the Myhome app, users benefit from pre-pricing services for transparency, and an in-app warranty with a differentiated experience depending on the category of service.
Currently operating in Kuwait, Riyadh, and Dammam, the startup plans to utilise its newly acquired funds for further regional expansion. MyHome is aiming to expand into other cities within Saudi Arabia such as Jeddah, Mecca, and Al-Medina, as well as into the UAE, over the next 12 months, and other GCC countries over the next 24 months.
