Masai School gets $10 million in Series B funding and includes Mithali Raj and Bhaichung Bhutia as investors

• ByStartupStory     |    November 8, 2022

Masai School, a Bengaluru-based job tech firm, has raised a $10 million Series B investment sponsored by Omidyar Network India, with previous investors including India Quotient and Unitus Ventures. Mithali Raj and Bhaichung Bhutia, two Indian sports legends, also participated in the round as investors and partners for an undisclosed sum. The newest round of funding will allow the firm to establish two new course categories while also expanding its core “zero-to-one” skilling course in Software Development and Data Analytics. “This is an opportune time for us to pick up our series B funding, and we are excited to work with our new partners and our current investors alike. Our mission remains to build the country’s largest employable tech workforce. The last 3 years have been proof of our competency in bridging the tech skill gap for over 800 tech companies who have hired more than 2000 alumni,” said Prateek Shukla, CEO, and Co-founder, while talking about the acquisition.Speaking at the press event, Mithali Raj said, “The common thought in India is that when a woman chooses her sporting career, her personal life takes a backseat. However, with Masai, Every individual gets yet another chance to have another career option apart from sports and excel in it.”

MasaiX., the company’s first up-skilling course, intends to accelerate growth for software engineers in India in order to address the demand for tech experts in Global Capability Centres and Sr. Software Developer jobs. Masai is also establishing the s, which is aimed at college students who want to augment their studies with industry-relevant skills. The Scholar Program, a prepaid program, is being implemented by the company’s subsidiary, Prepleaf, which will be bought by Masai in December 2021.

These programs, as well as Masai’s existing offering, Masai 0NE, will be sponsored by two scholarships made possible by Bhaichung Bhutia and Mithali Raj, who joined up with Masai because they share a passion for reinventing higher education in India.

$400 million has been invested in Saudi fintech businesses in the last year resulting in a 79% increase in Saudi fintech startups

According to the Fintech Saudi Annual Report 2021/2022, the number of active fintech businesses in Saudi Arabia increased by 79%, and investment in Saudi fintech companies for the year topped SAR 1.50 billion ($400 million), as reported by Zawya. “During 2021-2022 we have seen the development of a maturing fintech industry in the Kingdom,” said Nezar Alhaidar, Director of Fintech Saudi. “This year has been a significant year for the development of the fintech industry in the Kingdom with the launch of the Fintech Strategy, which will drive Saudi Arabia to become a global fintech hub. We are pleased that we are on the way to achieving this target with 147 fintechs now active in the Kingdom,” he added.  The report says that there has been development in practically all fintech categories, particularly infrastructural activity, as the Kingdom prepares for open banking. Aside from the ratification of the Fintech Strategy, a number of regulatory advancements have occurred, including the establishment of a third digital bank, changes to the Saudi Central Bank Regulatory Sandbox, and the publishing of the regulatory framework for equity crowdfunding license.

With the launch of its co-working space, the Hub, which has become the home of Fintech activity in the Kingdom, and the successful completion of the first accelerator program to support Fintech companies with regulatory applications, the organization has also continued to play a pivotal role in supporting the financial technology industry. With the opening of three new digital banks, new laws announced by the Saudi Central Bank and Capital Market Authority, and the execution of the Fintech Strategy, the research predicted that 2022-2023 will be another major phase for the Fintech industry.

Follow Startup Story