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beyondcapitalfund.org

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Investments

13

Portfolio Exits

2

About Beyond Capital

Beyond Capital Fund is a public foundation that invests in financially sustainable businesses that improve the lives of people living under the poverty line in India and East Africa.

Beyond Capital Headquarter Location

India

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Latest Beyond Capital News

Wamda participates in Verity's $800,000 pre-Seed round

Nov 15, 2021

Wamda participates in Verity's $800,000 pre-Seed round Kamal Al-Samarrai, Dina Shoman, Omar Al Sharif, co-founders of Verity UAE-based financial literacy startup Verity, has closed a $800,000 pre-Seed round, backed by regional venture capital firms, including Wamda, VentureSouq, and Beyond Capital, with contributions from angel investors. Founded by Omar Al Sharif, Dina Shoman and Kamal Al-Samarrai and set to launch in the fourth quarter of 2021, Verity is a fintech mobile app that enables young children and teenagers (aged between eight to 18) to build core money management skills such as how to earn, save, give, and spend responsibly with full parental supervision. The app’s key features include a pre-paid debit card, digitised allowance, chores management and saving goals. Through subscription-based family plans, parents can create sub-accounts for their children, which they can monitor and control as primary account holders. The investment will enable Verity to go online in UAE this year with expansion across Mena slated for 2022. Press release: Verity, a UAE-based fintech startup headquartered in the Dubai International Financial Centre (DIFC), has closed a $800,000 pre-Seed round, preparing for the launch of its fully-integrated family banking and financial literacy app built for the Middle East. The latest capital raise was backed by regional venture capital firms, including VentureSouq, Wamda, and Beyond Capital, with contributions from prominent angel investors. With experiential learning at its core, the Verity app provides kids and teens with the tools they need to earn, save, give, and spend responsibly while giving parents the ability to observe and guide their money management. Targeting its UAE launch in the fourth quarter of 2021, with the Middle East and North Africa (Mena) expansion slated for 2022, the Verity app takes a creative and holistic approach to teach kids and teens between the ages of eight and 18 personal finance in a real-life environment. Through subscription-based family plans, parents can create sub-accounts for their children, which they can monitor and control as primary account holders. Omar Al Sharif, co-founder of Verity, with over 15 years of strategy and marketing experience in the regional entrepreneurship ecosystem, commented: “When Dina, Kamal and I came together to form Verity, our mission was very clear from day one – to make the next generation more financially conscious and financially independent. Verity is built in the region and for the region, so it was important for us to create an app that encompassed our Middle Eastern culture and values, in addition to global citizenship. We wanted parents to know we were on the same page as them when it came to what and how their children were taught. Everything about the Verity app is highly personalised in that respect, from the user journey to the language options, starting with Arabic and English.”      Parents will be able to top up the accounts, set parameters and spending limits, and initiate a reward system, where kids can earn additional funds after completing specific chores and tasks. Kids then have the options of saving their money, contributing it to a cause of their choice, and spending it using a personalised pre-paid debit card which can be used to make purchases online and in stores. Parents will be notified of all transactions, allowing them to monitor and adjust parameters as needed. Dina Shoman, co-founder of Verity, international banking veteran, and serial financial literacy entrepreneur, said: “Financial literacy is a basic life skill which, unfortunately, we aren’t ‘taught’ early on, if ever. According to S&P Global’s Financial Literacy Survey, approximately 66 per cent of adults are financially illiterate. However, it’s been proven that kids can grasp simple financial concepts from a very young age, and that one of the most effective ways for them to learn is by doing. We’ve combined experiential learning with fun and engaging tools to create a safe space that gives kids the freedom to choose what they do with their money, without compromising their parents’ peace of mind or peace of wallet.”  Kamal Al-Samarrai, former investment banker, serial entrepreneur, and now co-founder of Verity commented, “Although Verity’s journey is just beginning, we’ve had a really positive response from key members of the investment and tech communities who share our vision. We truly believe that by encouraging and helping children to manage their money responsibly today, they won’t repeat the mistakes we made when we were younger, ensuring they are better placed to enjoy a more financially stable and secure future. We are honored and thankful to have prominent regional investors partnering with us as we bring this vision to life.”  Tammer Qadoumi, General Partner of the VentureSouq Mena Fintech Fund, commented on investing in Verity, "The transition to a digital-first economy is driven first and foremost by young people, and their influence on how the world lives and works will only get stronger. So the products and services that are most likely to succeed tomorrow are being designed to speak to and relate to that audience. That audience cares a lot about purpose. We believe strongly in the importance of Verity's mission of disseminating financial literacy, in and of itself. But we also believe that by actually caring about financial literacy, Verity's products will resonate more with its target market, and this will drive its growth."

Beyond Capital Investments

13 Investments

Beyond Capital has made 13 investments. Their latest investment was in Viebeg Technologies as part of their Seed VC on August 8, 2021.

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Beyond Capital Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

8/26/2021

Seed VC

Viebeg Technologies

Yes

5

5/11/2021

Seed VC

Haqdarshak

$0.91M

Yes

1

4/22/2021

Seed VC

Hasiru Dala Innovations

Yes

1

7/6/2020

Seed VC - II

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$99M

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10

3/13/2020

Seed VC - II

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$99M

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10

Date

8/26/2021

5/11/2021

4/22/2021

7/6/2020

3/13/2020

Round

Seed VC

Seed VC

Seed VC

Seed VC - II

Seed VC - II

Company

Viebeg Technologies

Haqdarshak

Hasiru Dala Innovations

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Amount

$0.91M

$99M

$99M

New?

Yes

Yes

Yes

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Co-Investors

Sources

5

1

1

10

10

Beyond Capital Portfolio Exits

2 Portfolio Exits

Beyond Capital has 2 portfolio exits. Their latest portfolio exit was Sysob on March 04, 2021.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

3/4/2021

Acquired

1

00/00/0000

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10

Date

3/4/2021

00/00/0000

Exit

Acquired

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Companies

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Valuation

Acquirer

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Sources

1

10

Beyond Capital Acquisitions

3 Acquisitions

Beyond Capital acquired 3 companies. Their latest acquisition was Ebertlang Distribution on May 16, 2017.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

5/16/2017

Acq - Fin

Acq - Fin

2

9/9/2016

Acq - Fin

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$99M

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10

9/16/2015

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$99M

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10

Date

5/16/2017

9/9/2016

9/16/2015

Investment Stage

Acq - Fin

Acq - Fin

Companies

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Valuation

Total Funding

$99M

$99M

Note

Acq - Fin

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Sources

2

10

10

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