Kuwait-based Kamco Invest, a leading non-banking financial powerhouse and one of the largest asset managers in the region, has announced that its Private Equity team has acquired a stake in Saudi-based Unifonic, acting on behalf of its clients. The transaction reflects Kamco’s commitment to expanding its investments in the fast-growing regional technology sector.
Unifonic, founded in 2006, is a leading customer engagement platform and SaaS provider in the MENA region. The company enables seamless multi-channel communication between enterprises and their customers, serving a diversified client base that includes banks, financial institutions, government entities, and companies in healthcare, retail, e-commerce, and logistics.
Since its establishment, Unifonic has raised over $140 million in funding from top-tier investors such as Sanabil Investments (a PIF-owned company), SoftBank, STV, SVC, and Raed Ventures, including a $125 million round in 2022.
Dalal Jamal Al Shaya, Director of Private Equity at Kamco Invest, stated:
“Our participation in this landmark investment underscores our confidence in Unifonic’s strong fundamentals, strategic vision, and exceptional management team. The company has evolved into a true regional technology champion, demonstrating impressive growth momentum supported by leading regional and international investors.”
She added that this investment aligns with Kamco Invest’s broader strategy of providing clients with high-value opportunities in the region’s most promising and fast-growing sectors, particularly technology companies preparing for near-term IPOs in local capital markets.
Ahmad Hamdan, Co-Founder and CEO of Unifonic, commented:
“We are delighted to see Kamco Invest among our esteemed shareholders as we continue working towards achieving our goal of becoming a unicorn ahead of our IPO within the next 24 months.“
He added, “We are grateful to our team, clients, and existing shareholders for their continuous support in helping Unifonic realize its vision of becoming a global leader in customer engagement services.“
With Saudi Arabia’s market momentum and favorable IPO landscape, Unifonic is well-positioned for a successful public listing on Tadawul, strengthening its role as a key player in the Kingdom’s thriving digital transformation ecosystem.
