DLA Piper has advised FinTech Collective, LLC, US venture capital firm recognized for its investments in disruptive startups, on its lead investment in Saudi-Arabian self-storage company WheeKeep. WheeKeep secured an USD8 million Series A funding round, attracting both domestic and international investors, with FinTech Collective as the lead investor.
The influx of capital aims to propel WheeKeep’s growth and expansion plans throughout the KSA and the broader GCC markets.
The transaction was led by partner and Global Co-Head of Emerging Growth Companies & Venture Capital Leo Batalov. He was supported by legal director Georgy Vinogradov and associate Fırat Gülüm both part of the firm’s Corporate practice in Dubai. Also supporting on the matter was partners from DLA Piper’s Emerging Growth and Venture Capital team Jeffrey K. Lehrer (Washington DC) and Christopher J. Feldman (Seattle); partner Tim Sunar and associate Hadi Alkhwaildi from AlShahrani Law Firm, a DLA Piper cooperation firm in Saudi Arabia.
Leo Batalov, partner and Global Co-Head of Emerging Growth and Venture Capital for DLA Piper, said: “This significant investment underscores the strength and potential of Saudi Arabia’s tech ecosystem, and comes at a time where innovative venture capital firms like FinTech Collective are growing their presence in the Middle East. The success of this transaction was made possible by leveraging the firm’s global footprint whilst offering a localized service, and the team’s ability to understand the market environment and facilitate the negotiations and investment.”
DLA Piper’s broader corporate team, comprising nearly 1,000 lawyers worldwide, maintains its position as one of the largest international law firms in the Middle East. The transactions follow the recent Pitchbook rankings for Global and European M&A and Private equity, where DLA Piper ranked as #1 most active in global M&A, and #1 most active for M&A in Europe. DLA Piper stands as a trusted advisor on local, regional, and cross-border transactions throughout the MENA region.
