UAE-based start-up Zest Equity, which is digitising private market transactions, has raised $3.8 million in a seed round participated by state-backed Dubai Future District Fund (DFDF) and Middle East Venture Partners (MEVP).

The funds will be used to support the Hub71 start-up’s plans to expand its product offering in the Middle East and North Africa (MENA) region, according to a statement on Tuesday.

MEVP led the fundraising, with participation from DFDF and DASH Ventures.

DFDF was established by Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to back tech start-ups. The Dubai venture fund’s founding shareholders are the Dubai International Financial Centre and Dubai Future Foundation.

Founded in 2021, Zest Equity is a platform that provides entrepreneurs with digital tools to manage their own transactions while also grouping their investors into a single legal framework.

“What Zest is building is a convenient and comprehensive tool designed to cut the costs and complexities involved in traditional private market transactions,” said Rawan Baddour, Co-founder of Zest Equity.

“Our platform digitizes the transaction process, making it easier for existing stakeholders (founders, investors and employees) of private companies to transact and benefit from liquidity, in a pre-approved and transparent manner.”

To date, Zest Equity has raised total funding worth $5.7 million.

(Writing by Cleofe Maceda; editing by Seban Scaria) seban.scaria@lseg.com