On August 1, 2023, Nile Global, Inc. closed the transaction. The company has issued 32,353,485 series C preferred shares for gross proceeds of $175,000,000.365 in the transaction. The round of funding co-led by returning investor, March Capital Venture Management Services, LLC, and new investor, Sanabil Investments.

The transaction included participation from other new investors, Arabian Internet and Communication Services Company, Prosperity7 Ventures, Liberty Global Ventures Holding B.V., STC corporate investment fund, a fund managed by Saudi Telecom Company, Investment Arm, Geodesic Capital, U First Capital, and Valor Management Corp., and returning invetor, 8VC.