About Rizek
Rizek is a Business Services company based in Dubai (United Arab Emirates) founded in 2004 by Abdallah Abu Sheikh, and was acquired by AstraTech in July 2022. Local services are booked via an online marketplace platform. Rizek has raised $15 million across 3 funding rounds from investors including ADQ, Abu Dhabi Government and Astra Tech. Its chief executive, as recorded, is Abdallah Abu Sheikh. Its focus areas include Consumer, Local Services, Multi Services and Marketplace. Its competitors include ServiceMarket, Justlife and Rafeeg; 2 of its 3 listed competitors have raised funding.
Company details
Rizek was founded in 2004 in Dubai, United Arab Emirates, by Abdallah Abu Sheikh. An online marketplace is operated for local services in sectors such as beauty and wellness, home maintenance, and healthcare. Users book services through the platform, complete online payments, modify requests, and rate providers. The mobile application is available for iOS and Android devices, facilitating access across the region.
Funding Insights of Rizek
Rizek has successfully raised a total of $15M across 3 strategic funding rounds. The most recent funding activity was a Series A round of $10 million completed in May 2021. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $15M
- Total Rounds 3
- Last Round Series A — $10M
- First Round $1.5M
(Sep 2019)
- Investors Count 2
All 3 funding rounds of Rizek with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| May 2021 | $10M | Series A | – | ADQ | – |
| Jun 2020 | $3.5M | Seed | – | Abu Dhabi Government | – |
| Sep 2019 | $1.5M | Seed | – | – | – |
3 investors in total: 3 institutional.
Investors in Rizek
Rizek has secured backing from 3 investors, including venture fund investors. Prominent investors backing the company include ADQ, Abu Dhabi Government and Astra Tech.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
ADQ is recognized as a leading sovereign investor focused on sustainable economic transformation in Abu Dhabi. | adq.ae | Abu Dhabi, United Arab Emirates | ||
Sector-agnostic incubation and acceleration are supported for diverse startups. | investinabudhabi.gov.ae | Abu Dhabi, United Arab Emirates | ||
Astra Tech is focused on simplifying fintech and communication solutions. | 2022 | astratech.ae | United Arab Emirates |
Investor details for Rizek
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People of Rizek
13 people are tracked at Rizek (6 in leadership, 7 in team).
| Name | Role | Group |
|---|---|---|
Abdallah Abu Sheikh | Founder & CEO | Leadership |
Viranchi Raje | Chief Risk Officer (cro) | Leadership |
Amine S. | Group Chief Financial Officer & Board Member - Payment|fintech|lending|voip|e-commerce | Leadership |
Ramit Sharma | Group Vice President Of Finance | Leadership |
Amartya Sengupta | Senior Director Of Finance | Leadership |
Sameer al Maskari | Chief Human Resources Officer | Leadership |
Blair Wentworth | General Counsel | Team |
Amy Minje Kim | Accountant | Team |
Kunal Sachdev | Finance Manager | Team |
Anin P S | Information Technology Support Team Lead | Team |
Arunn Kannan Cfa | Controllership & Accounting | Team |
Henry Chen | Senior AML Compliance Manager (mlro) | Team |
Mohammed Masoud | Legal Executive | Team |
Complete people profiles for Rizek
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
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Timeline of Rizek
4 dated milestones of Rizek across 18 years, from founding to its latest funding, stage changes and deals.
- Founded Rizek is founded.
- Funding First funding round of $1.5M.
- Funding Latest funding round, Series A, of $10.0M.
- Exit Acquired by AstraTech.
Competitors of Rizek
Rizek has 3 listed competitors in our database, 2 of them funded. They include ServiceMarket, Justlife and Rafeeg.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| servicemarket.com | 2013 | Dubai, United Arab Emirates | $7.5M | Multiple local services are facilitated through an app-based marketplace. | ||
| justlife.com | 2014 | Dubai, United Arab Emirates | $150,000 | A mobile app is provided for booking various home services. | ||
| rafeeg.ae | 2017 | Abu Dhabi, United Arab Emirates | Operates a digital hub for hiring local service professionals. |
Detailed competitors of Rizek
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Web traffic of Rizek
Websites that share an audience with Rizek (rizek.com).
Websites whose visitors overlap most with Rizek. Affinity shows how closely the audiences match.
| Website | Domain | Audience affinity | Monthly visits | Global rank | Profile |
|---|---|---|---|---|---|
| facebook.com | 100% | 12.1B | #3 | View details | |
| astratech.ae | 39% | #142,059 | View details |
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Related news about Rizek
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Frequently Asked Questions about Rizek
Rizek was founded in 2004 and raised its 1st funding round 15 years after it was founded.
Rizek is headquartered in Dubai, United Arab Emirates. It is registered at Dubai, Dubai, United Arab Emirates.
Abdallah Abu Sheikh is the CEO of Rizek, as recorded in our data. They have also founded this company.
Rizek is a funded company, having raised a total of $15M across 3 funding rounds to date. The company's 1st funding round was a Seed of $1.5M, raised on Sep 2019.
Rizek was founded in 2004 in Dubai, United Arab Emirates, by Abdallah Abu Sheikh. An online marketplace is operated for local services in sectors such as beauty and wellness, home maintenance, and healthcare. Users book services through the platform, complete online payments, modify requests, and rate providers. The mobile application is available for iOS and Android devices, facilitating access across the region.
Rizek's top competitors include ServiceMarket, Justlife and Rafeeg.
Rizek has 3 investors. Key investors include ADQ, Abu Dhabi Government, and Astra Tech.
Yes. Rizek was acquired by AstraTech in July 2022.