Beltone Venture Capital Expands Investments in Areeka and Leetchi to Accelerate Saudi Expansion
Beltone Venture Capital, a subsidiary of Beltone Holding, has announced increased investments in Egyptian consumer brands Areeka and Leetchi to support their regional expansion strategy, with plans to launch five new outlets in Riyadh, Saudi Arabia.
The move underscores Beltone Venture Capital’s strategy of backing high-growth Egyptian companies beyond capital investment by helping them evolve into competitive regional brands across the Middle East and North Africa.
Commenting on the announcement, Ali Mokhtar, CEO and Managing Partner of Beltone Venture Capital, said the two companies represent the type of businesses the firm seeks to support.
“Areeka and Leetchi are successful Egyptian brands that have demonstrated profitability, exceptional leadership, and the ambition to reshape their respective sectors across the region,” Mokhtar said. “We see ourselves as long-term partners in building the next generation of leading consumer brands in the Middle East and North Africa, and the opening of five new branches in Riyadh is only the beginning of this journey.”
Khaled Attallah, CEO and Co-Founder of Areeka, said Saudi Arabia has always been central to the company’s regional growth strategy.
“Opening two stores in Riyadh is more than just an expansion—it is a clear statement of our ambitions,” Attallah said. “We have built a brand that resonates with consumers who value design, quality, and exceptional customer experiences, and we are confident Areeka will establish a strong position in Saudi Arabia just as it has in Egypt and Iraq.”
Meanwhile, Mohamed Assi, Founder and CEO of Leetchi, described the Saudi market as a cornerstone of the company’s long-term regional vision.
“We have spent years preparing for this milestone,” Assi said. “Saudi Arabia is not simply another market for us; it is a strategic pillar of our regional expansion plans. We invested significant effort in understanding Saudi consumers, their lifestyles, preferences, and expectations before making this move. Opening three branches in Riyadh demonstrates our commitment to becoming a leading healthy food and beverage brand in the Kingdom, just as we have achieved in Egypt.”
The expansion reflects the growing confidence of Egyptian consumer brands in Saudi Arabia's retail market, as companies increasingly seek regional growth opportunities driven by rising consumer demand and strong economic fundamentals.
Headquartered in Egypt, Beltone Holding operates across eight African countries through a diversified portfolio spanning leasing, factoring, mortgage finance, consumer finance, SME lending, microfinance, asset management, securities brokerage, investment banking, private equity, venture capital, artificial intelligence and data analytics solutions, human resources consulting, talent management, and digital financial services.
The company continues to position venture capital as a key driver of innovation and regional business expansion, supporting entrepreneurs and high-growth companies as they scale beyond the Egyptian market.