Every week, we bring you insights and reactions from top VCs, reacting to the latest news on MENA startups, VCs, and investment rounds. Stay tuned for: expert analysis, independent opinions, and maybe some heated conversations!
Host: Ahmad Takatkah, VCpreneur
Sign up to VCpreneur Newsletter on https://www.vcpreneur.com/
Co-Host: Jamie Lane, FWDstart
Sign up to FWDstart Newsletter on https://www.fwdstart.me/
#startups #vc #tech #ai #investments #founders #entrepreneurship #venturecapital #venturedebt #privatecredit #finance #business #ipo #acquisitions #revenuebasedfinancing #fintech #web3
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VC React Podcast (E15): Managing a Large Seed Fund, FoFs in MENA, Global vs. Local Startups & VCs
Season 1 · Episode 15
Thursday, October 17, 2024 • Duration 51:48
VC React Podcast:
Every week, we bring you insights and reactions from top VCs, reacting to the latest news on MENA startups, VCs, and investment rounds. Stay tuned for: expert analysis, independent opinions, and maybe some heated conversations!
Host: Ahmad Takatkah, VCpreneur.
Sign up to VCpreneur Newsletter on https://www.vcpreneur.com/
Co-Host: Jamie Lane, FWDstart.
Sign up to FWDstart Newsletter on https://www.fwdstart.me/
News of the week brought to you by FWDstart.
In Today's Episode:
- Saudi Venture Capital Invests $15M in a $90M VC Fund by Vision Ventures
Source: Saudi Press Agency
Summary: Saudi Venture Capital (SVC) said in a press release issued today that it is investing $15 million in Saqr Fund II, a venture capital fund managed by Vision Ventures. According to the release, Saqr Fund II, with a target size of $90 million, will invest in early-stage startups from pre-seed to pre-series B, with a sector-agnostic approach in Saudi Arabia and the larger MENA region.
- Ejari raises $14.65 million in debt-equity Seed round
Source: Wamda
Summary: Saudi Arabia-proptech Ejari has closed a $14.65 million seed round, which consists of a mix of debt and equity, led by Partners for Growth (PFG), BECO Capital, anb seed, Rua Ventures, Alinma Bank (Alinma Pay), Vision Ventures and Aqar platform, Saudi Arabia’s leading property listing platform. The round also saw the participation of the existing investor, Salica Oryx Fund. Founded in 2022 by Yazeed Al-Shamsi, Fahad Albedah, Mohammed Alkhelewy, and Khalid Almunif, Ejari offers a rent now, pay later (RNPL) solution tailored for Saudi Arabia’s real estate rental market. The new capital will allow Ejari to strengthen its market share within the residential RNPL space, enhance its product and service offerings, and solidify its position as a key player in the Saudi rental market's growing RNPL segment.
- UAE’s OCTA raises $2.25 million pre-Seed
Source: Wamda
Summary: The round is co-led by Quona Capital and Sadu Capital, with participation from Sukna Ventures, Plus VC, 500 Global, and notable angel investors, including Pawel Iwanow, Chief Payment Officer at Fresha, and Dom Monhardt, Director of Product Design at Tap Payments. Founded in early 2024 by Jon Santillan, Nupur Mittal and Andrey Korchak, the OCTA platform automates the process of collecting payments for SMEs, which improves cash flow management and reduces the pain of accounts receivable. OCTA has recently expanded into the Saudi market.
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VC React Podcast (E14): Podcasts, Climate Tech, Carbon Credits, AdTech, Data Privacy In MENA & More
Season 1 · Episode 14
Thursday, October 3, 2024 • Duration 58:05
VC React Podcast:
Every week, we bring you insights and reactions from top VCs, reacting to the latest news on MENA startups, VCs, and investment rounds. Stay tuned for: expert analysis, independent opinions, and maybe some heated conversations!
Host: Ahmad Takatkah, VCpreneur.
Sign up to VCpreneur Newsletter on https://www.vcpreneur.com/
Co-Host: Jamie Lane, FWDstart.
Sign up to FWDstart Newsletter on https://www.fwdstart.me/
VC React Podcast (E5): Saudi's AI Investments, Egypt's Mega Round In FinTech, Jordan's Accelerators
Season 1 · Episode 5
Thursday, July 25, 2024 • Duration 50:11
VC React Podcast:
Every week, we bring you insights and reactions from top VCs, reacting to the latest news on MENA startups, VCs, and investment rounds. Stay tuned for: expert analysis, independent opinions, and maybe some heated conversations!
Host: Ahmad Takatkah, VCpreneur.
Sign up to VCpreneur Newsletter on https://www.vcpreneur.com/
Co-Host: Jamie Lane, FWDstart.
Sign up to FWDstart Newsletter on https://www.fwdstart.me/
Guests:
1. Ali Zewail, Venture Partner @ Endure Capital
- LinkedIn Profile: https://www.linkedin.com/in/alizewail/
- VC Firm Website: http://www.endurecap.com/
2. Hasan Haider, Founder & Managing Partner @ Plus VC
- LinkedIn Profile: https://www.linkedin.com/in/hasanhaider/
- VC Firm Website: http://www.plus.vc/
3. Khaled Talhouni, Managing Partner @ Nuwa Capital
- LinkedIn Profile: https://www.linkedin.com/in/khaledtalhouni/
- VC Firm Website:
#startups #vc #tech #ai #investments #entrepreneurship #venturecapital #venturedebt #privatecredit #privateequity #finance #business #ipo #acquisitions #revenuebasedfinancing #fintech #climatechange
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In Today's Episode:
News of the week brought to you by FWDstart:
- Wa'ed Ventures is investing across the AI stack
Source: Edge Middle East
Summary: Wa’ed Ventures, backed by Aramco, has led a $6.5 million pre-Series A funding round for California-based AI platform aiXplain. aiXplain's Saudi subsidiary will serve as its MENA headquarters, driving growth and localizing AI solutions in the Kingdom. The startup is also partnering with regional AI organizations to develop an Arabic LLM alliance, that will debut later this year.
A week later, Wa’ed Ventures announced an investment of $15 million in South Korean chipmaker Rebellions Inc. The company is working with Samsung to develop its proprietary chip for the GenAI market.This is Wa’ed Ventures’ first deal in South Korea. According to a statement, rebellions plans to use the funding to establish a new subsidiary in Saudi Arabia and launch business operations there.
- Egypt’s MNT-Halan Secures USD 157.5M to Drive Expansion
Source: Waya Media
Summary: Egypt’s MNT-Halan has raised $157.5 million in funding, featuring contributions of $40 million from the International Finance Corporation (IFC), with the remaining funds supplied by Development Partners International (DPI), Lorax Capital Partners, funds managed by Apis Partners LLP, Lunate, and GB Corp. Founded in 2017 by Mounir Nakhla, MNT-Halan offers a diverse portfolio of financial and non-financial services ranging from lending, buy now pay later, e-commerce, payments, and mobility to on-demand logistics. The new capital influx will support MNT-Halan’s imminent geographical expansion. MNT-Halan joined Egypt's unicorn club last year after securing $400 million in debt and equity financing.
- Saudi logistics platform OTO secures $8m funding for UAE and Turkiye expansion
Source: Arab News
Summary: Saudi Arabia-based logistics platform OTO has raised $8 million in a Series A funding round, led by Sanabil Investments, with participation from Sadu Capital, Iliad Partners, Propeller, and Soma Capital. Founded in 2019 by Mohammad AlRazaz and Furkan Uzar, OTO is a logistics technology company specialising in simplifying order shipping, management, tracking, returns, and analysis through a single integrated platform.
- ISSF pledges $5 million to Oasis500's second fund
Source: Wamda
Summary: Jordan’s Innovative Startups and SMEs Fund (ISSF) has increased its commitment to Oasis Ventures II fund (OVII) managed by Oasis500 from $3 million to $5 million. Founded in 2010, Oasis500 focuses on empowering early-stage ICT companies in Jordan through pre-seed and seed funding.
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VC React Podcast (E4): Banking The Unbanked, Tech Moonshots, Climate Tech, & MENA AI Consolidations
Season 1 · Episode 4
Thursday, July 18, 2024 • Duration 51:37
VC React Podcast:
Every week, we bring you insights and reactions from top VCs, reacting to the latest news on MENA startups, VCs, and investment rounds. Stay tuned for: expert analysis, independent opinions, and maybe some heated conversations!
Host: Ahmad Takatkah, VCpreneur.
Sign up to VCpreneur Newsletter on https://www.vcpreneur.com/
Co-Host: Jamie Lane, FWDstart.
Sign up to FWDstart Newsletter on https://www.fwdstart.me/
Guests:
1. Issa Aghabi, Founder & Managing Director @ Access Bridge Ventures
- LinkedIn Profile: https://www.linkedin.com/in/iaghabi/
- VC Firm Website: https://access-bridge.com/
2. Zeina Mandour, Venture Investments Manager @ Dar Ventures
- LinkedIn profile: https://www.linkedin.com/in/zeina-mandour-38541260/
- VC Firm Website: https://dar.com/
#startups #vc #tech #investments #entrepreneurship #venturecapital #venturedebt #privatecredit #privateequity #finance #business #ipo #acquisitions #revenuebasedfinancing #fintech #climatechange #ai
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In Today's Episode:
News of the week brought to you by FWDstart:
- Omani climate tech startup 44.01 raises $37 M Series A
Source: Oman Observer
Summary: 44.01, an Oman-based startup focused on eliminating CO2 permanently through natural mineralization, has secured $37 million in a Series A funding round. The investment was co-led by Equinor Ventures and Shorooq Partners, with participation from ALIAD Venture Capital, Alumni Ventures, Amazon's Climate Pledge Fund, Climate Investment, IDO Investments, Planet A Ventures, Salica Investments Oryx Fund, Siemens Financial Services, Sumitomo Corporation, and Sam Altman. Existing investor Breakthrough Energy also participated. Founded by Talal Hasan, 44.01's technology mineralizes CO2 in peridotite, abundant in Oman and globally, with successful pilots in Oman and the UAE.
- Hub71 fintech startup Dopay secures $13.5 million Series A Extension Round
Source: Gulf News
Summary: Dopay, a fintech startup providing digital payroll and payments for unbanked and underbanked workers in emerging markets, has closed a $13.5 million Series A extension round. Following a previous $18 million Series A round, this funding was led by Argentem Creek Partners with participation from existing investors. Part of Abu Dhabi's Hub71 tech ecosystem, Dopay will use the funds to expand in Egypt, launch new financial services, and grow its multi-bank, multi-country platform into other markets.
- Majarra acquires Arabic AI/NLP startups Lableb
Source: Wamda
Summary: UAE-based Majarra, An Arabic digital content provider, has acquired the UAE-based NLP technology provider, Lableb, for an undisclosed amount. Founded in 2004 by Abdulsalam Haykal, Majarra is a mediatech company that provides Arabic content through the Majarra App. With a vast library of over 50,000 articles, videos, and audio content. Meanwhile, Lableb, founded in 2017 by Kinda Altarbouch, offers Arabic AI services and Natural Language Processing (NLP). The acquisition aims to solidify Majarra's position at the forefront of Arabic digital innovation and marks its entry into the rapidly expanding AI sector.
VC React Podcast (E3): On Gov VC Mandates, India & MENA, Venture Debt, Market Stats in H1-2024
Season 1 · Episode 3
Thursday, July 11, 2024 • Duration 41:46
VC React Podcast:
Every week, we bring you insights and reactions from top VCs, reacting to the latest news on MENA startups, VCs, and investment rounds. Stay tuned for: expert analysis, independent opinions, and maybe some heated conversations!
Host: Ahmad Takatkah, VCpreneur.
Sign up to VCpreneur Newsletter on https://www.vcpreneur.com/
Co-Host: Jamie Lane, FWDstart.
Sign up to FWDstart Newsletter on https://www.fwdstart.me/
VC React Podcast (E2): On Acquiring Silicon Valley Startups, Global VCs In MENA, eSports.
Season 1 · Episode 2
Thursday, July 4, 2024 • Duration 46:33
VC React Podcast:
Every week, we bring you insights and reactions from top VCs, reacting to the latest news on MENA startups, VCs, and investment rounds. Stay tuned for: expert analysis, independent opinions, and maybe some heated conversations!
Host: Ahmad Takatkah, VCpreneur.
Sign up to VCpreneur Newsletter on https://www.vcpreneur.com/
Co-Host: Jamie Lane, FWDstart.
Sign up to FWDstart Newsletter on https://www.fwdstart.me/
VC React Podcast (E1): Tech IPOs in MENA, $8M Seed Startup Round, AI VC Fund, and more.
Season 1 · Episode 1
Thursday, June 27, 2024 • Duration 44:45
VC React Podcast:
Every week, we bring you insights and reactions from top VCs, reacting to the latest news on MENA startups, VCs, and investment rounds. Stay tuned for: expert analysis, independent opinions, and maybe some heated conversations!
Host: Ahmad Takatkah, VCpreneur.
Sign up to VCpreneur Newsletter on https://www.vcpreneur.com/
Co-Host: Jamie Lane, FWDstart.
Sign up to FWDstart Newsletter on https://www.fwdstart.me/
VC React Podcast (E13): Growth Funds, Debt Funds, Mobility, EdTech, and Good News From Palestine!
Season 1 · Episode 13
Thursday, September 26, 2024 • Duration 01:02:03
VC React Podcast:
Every week, we bring you insights and reactions from top VCs, reacting to the latest news on MENA startups, VCs, and investment rounds. Stay tuned for: expert analysis, independent opinions, and maybe some heated conversations!
Host: Ahmad Takatkah, VCpreneur.
Sign up to VCpreneur Newsletter on https://www.vcpreneur.com/
Co-Host: Jamie Lane, FWDstart.
Sign up to FWDstart Newsletter on https://www.fwdstart.me/
VC React Podcast (E12): Global Fintechs In MENA, Round Extension, Secondaries, Selling Foundr Shares
Season 1 · Episode 12
Thursday, September 19, 2024 • Duration 59:08
VC React Podcast:
Every week, we bring you insights and reactions from top VCs, reacting to the latest news on MENA startups, VCs, and investment rounds. Stay tuned for: expert analysis, independent opinions, and maybe some heated conversations!
Host: Ahmad Takatkah, VCpreneur.
Sign up to VCpreneur Newsletter on https://www.vcpreneur.com/
Co-Host: Jamie Lane, FWDstart.
Sign up to FWDstart Newsletter on https://www.fwdstart.me/
Every week, we bring you insights and reactions from top VCs, reacting to the latest news on MENA startups, VCs, and investment rounds. Stay tuned for: expert analysis, independent opinions, and maybe some heated conversations!
Host: Ahmad Takatkah, VCpreneur.
Sign up to VCpreneur Newsletter on https://www.vcpreneur.com/
Co-Host: Jamie Lane, FWDstart.
Sign up to FWDstart Newsletter on https://www.fwdstart.me/
News of the week brought to you by FWDstart.
In Today's Episode:
- MENA podcast platform Podeo raises $5.4m in series A round
Source: Gulf Business
Summary: UAE-based podcast distribution platform Podeo has raised a Series A of $5.4 million, led by Oraseya Capital, with participation from Ibtikar Fund, Cedar Mundi Ventures, Samarium, iSME, and returning investor Razor Capital. Founded by Stefano Fallaha, Anthony Essaye, and Mario Hayek in Lebanon in 2020, Podeo allows creators to monetise their content through their end-to-end platform.
- Coral Announces Closure of Seed Round Funding, Raising $3 Million to Transform Carbon Emission Management
Source: Coral
Summary: Coral, a UAE-based climatetech startup, has closed a $3 million seed round led by seasoned tech investors. The company offers an AI-driven platform that simplifies carbon emission management, footprint evaluation, reporting, and offsetting. Coral's blockchain-based solution ensures full lifecycle traceability of carbon credits and real-time auditability of offsets. Key partnerships include Nissan’s Formula E team, and its Emissions Management System (EMS) is live with several clients.
- Saudi Arabia’s Quantum raises investment from HearstLab
Source: Wamda
Summary: Saudi Arabia-based adtech Quantum has secured funding as part of its $7 million Pre-Series-A round from HearstLab, the investment arm of Hearst Corporation. Quantum is also backed by 500 Global, Vision Ventures, Sukna Ventures, and Tech Invest Com. Founded in 2020 by Omar Malaikah and Sara Bin Ladin, Quantum’s platform allows advertisers to select their preferred publishers and purchase ad space directly, while also offering robust data analytics and ROI metrics to maximise campaign impact. This marks HearstLab’s inaugural investment in the Middle East.
- Egypt: Beltone Venture Capital invests in France-based VelyVelo
Source: Zawya
Summary: Beltone Venture Capital, a subsidiary of Beltone Holding, has made its first international investment by acquiring a strategic equity stake in VelyVelo, a French e-bike rental company, according to a disclosure. The size of the investment was not disclosed. Specialising in fleet management with a full-service subscription model. Currently, VelyVelo operates over 5,000 electric bikes for delivery drivers, freelancers, and transport companies, with a presence in both the French and Moroccan markets.
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In Today's Episode:
News of the week brought to you by FWDstart:
- Innovative Startups and SMEs Fund invests $5mln in Global Ventures Fund III
Source: Zawya
Summary: The Innovative Startups and SMEs Fund (ISSF), Jordan's largest investment fund of its kind, announced a USD 5 million investment in Global Ventures’ Fund III. A leading venture capital firm focused on growth-stage investments across the Middle East and Africa, Global Ventures has been mandated by ISSF to invest in Jordanian startups. This strategic partnership highlights the ISSF's commitment to empowering the Jordanian ecosystem.
- India Crypto Exchange CoinDCX Buys BitOasis in Middle East Expansion
Source: Bloomberg
Summary: Indian crypto exchange CoinDCX acquired Dubai-based BitOasis to expand into the MENA region. The acquisition, which follows an initial investment last year, aims to leverage BitOasis' established presence and regulatory licenses in the UAE and Bahrain. BitOasis has processed over $6 billion in trades and has more than 750,000 customers. CoinDCX sees this move as a response to favorable regulatory environments and aims to boost annual revenue by $30-$50 million.
- Stride Ventures Makes First GCC Investment in Maalexi
Source: Abu Dhabi SME Hub
Summary: Stride Ventures has made its first investment in the GCC region by investing in Maalexi, a Dubai-based company. This move marks Stride's initial foray into the Middle East market, aligning with its strategy to support high-growth startups globally. Stride Ventures, known for its venture debt funds, aims to facilitate the entry of Indian and other global startups into the GCC region, leveraging Abu Dhabi Global Market's (ADGM) supportive regulatory environment
- MENA startups raise $116 million in June 2024, bringing H1 total to $882 million
Source: Wamda
Summary: In June 2024, investment in MENA startups slowed, with 38 tech startups raising $116 million, a 59% month-on-month drop but a 182% year-on-year increase. UAE startups led with $82.5 million across 15 deals, followed by Egypt with $15 million from four startups, and Saudi Arabia with $13.5 million from seven startups. Iraq saw six startups raise around $1.2 million, potentially more. The largest deal was Tenderd’s $30 million, with no mega deals observed during the month. The half-year total reached $882 million.
- MENA VC landscape sees 33% increase in investors
Source: Arab News
Summary: In the first half of 2024, investor numbers in the MENA venture capital ecosystem rose by 33%, driven by increased sentiment which led to a 130% rise in the number of funds launched, according to MAGNiTT. Despite this, funding for regional startups fell by 34% year-on-year, totaling $768 million.
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In Today's Episode:
News of the week brought to you by FWDstart:
- WakeCap Acquires Crews by Core to Enhance Field Operations
Source: Waya
Summary: Saudi-based IoT platform WakeCap has acquired the AI-powered project delivery platform Crews by Core to create a comprehensive suite of hardware and software tools aimed at improving job site safety, productivity, and profitability for major construction projects globally. The combined technologies are already deployed across large sites and megaprojects in the US, Saudi Arabia, UAE, and Japan. As part of the acquisition, WakeCap will establish an R&D headquarters in Silicon Valley, enhancing its position as a leading construction tech company. This move leverages Crews by Core's expertise in building significant Silicon Valley companies like PayPal, Waze, Google Chrome, and Palantir. Both CEOs, Di-Ann Eisnor of Crews by Core and Dr. Hassan Albalawi of WakeCap, expressed enthusiasm for the partnership, highlighting the potential to enhance construction project management in regions with large-scale developments such as Saudi Arabia.
- South Korean VC Hashed Ventures Expands to Abu Dhabi
Source: Forkast
Summary: Hashed Ventures, a South Korean VC firm, has partnered with Abu Dhabi’s Hub71 to explore investment opportunities in MENA's tech and crypto sectors. Managing $700 million in assets, Hashed aims to leverage Abu Dhabi’s strategic position and resources to scale its portfolio and attract South Korean tech startups to the UAE. This collaboration will provide Hashed with access to funding, mentorship, and market opportunities, with CEO Simon Seo-Joon Kim highlighting the UAE’s crypto-friendly regulations as a key factor for expansion.
- Paris-based VC Breega Announces $75 Million Africa Fund
Source: TechCrunch
Summary: Paris-based VC firm Breega has launched a $75 million fund, Africa Seed I, to invest in early-stage startups across Africa, specifically mentioning Egypt and Morocco. Breega has secured commitments for about 70% of the capital in its first close. The firm supports startups from pre-seed to Series A stages and targets sectors like fintech, health tech, proptech, logistics, and edtech. Breega plans to invest $100,000 to $2 million in startups to tap into significant opportunities in these markets.
- Esports World Cup Fever in Saudi Arabia as Contest Kicks Off with Biggest Prize Pool
Source:Al Arabiya
Summary: The much-anticipated Esports World Cup (EWC) launched in Riyadh, Saudi Arabia, featuring the largest prize pool in industry history at over $60 million. Running from July 3 to August 25 at Boulevard Riyadh City, the event includes 1,500 elite players competing in 22 competitions across 21 leading games like League of Legends and Counter-Strike II.
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News of the week brought to you by FWDstart:
- Rasan Goes Public
Source: MENAbytes
Summary: Saudi Arabia-based insurtech Rasan has announced its IPO, becoming the first insurtech company in the region to go public. The move aims to capitalize on the growing demand for digital insurance solutions and expand its market reach.
- Connect Money Raises $8 Million Seed Round
Source: Wamda
Summary: Egypt-based fintech Connect Money secured $8 million in a seed round led by Disruptech Ventures and Algebra Ventures. The funding will support the launch of five new business verticals in North Africa. Connect Money offers a white-label card issuing platform for businesses to provide debit and credit cards without developing fintech infrastructure or regulatory licensing.
- SMPL Holdings Launches $10 Million Fund
Source: Gulf News
Summary: SMPL Holdings has launched a $10 million fund to support tech and AI startups across the MENA region. The fund aims to foster innovation and accelerate the growth of emerging technology companies in the area.
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News of the week brought to you by FWDstart.
In Today's Episode:
- Ajeej Capital and Nuwa Capital launch $100m fund to boost tech companies in Middle East
Source: The National News
Summary: Amplify Growth Partners has launched a $100 million growth debt fund aimed at providing debt capital to technology-focused companies across the MENA region.
- Merak Capital invests $82.2 million in Saudi tech-driven mobility platform SHIFT
Source: Zawya
Summary: Merak Capital has invested $82.8 million in SHIFT, a tech-driven mobility platform for people and products.
- Algerian edtech LabLabee closes $3.4 million Seed round
Source: Tech Point
Summary: Algeria-based edtech startup LabLabee has raised $3.4 million in Seed funding, led by Reach Capital, with contributions from Classera, Brighteye Ventures, e& capital, and business angels like Cedric Sellin and Mohammed Husamaddin.
- Ibtikar Fund II Announces Its Final Financing Closing
Source: Ibtikar Fund
Summary: Ibtikar Fund has closed its second venture capital fund, Ibtikar Fund II CV, at USD 25 million, with the European Bank for Reconstruction and Development (EBRD) joining as a Limited Partner. Notable investors include the Bank of Palestine, the Dutch Good Growth Fund (DGGF), and the International Finance Corporation (IFC). Key investments include companies like DataQueue, Mental, and Vatrin.
- Global Investors Extend Line of Liquidity to High-Growth Palestinian Startups
Source: Intersect Hub
Summary: Intersect, a Ramallah-based tech hub and incubator, is pleased to announce the first close of a $5 million USD bridge financing facility that will extend the runway of Palestinian tech startups impacted by the ongoing war.
This funding initiative, known as SAFE Palestine, will immediately provide urgently needed liquidity to 29 high-growth Palestinian startups, preserving over 300 existing jobs and creating new employment opportunities within the tech sector. The facility, which will provide equity and grants, is a response to challenges faced by startups, including the displacement, injury, or loss of employees in Gaza, supply chain and banking disruptions in the West Bank, and an already challenging macroeconomic fundraising environment for founders.
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SVVI Calendar: https://www.svvi.co/
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𝗲𝗕𝗼𝗼𝗸: https://www.amazon.com/dp/B0DFLJF1PR
𝗣𝗮𝗽𝗲𝗿𝗯𝗮𝗰𝗸: https://www.amazon.com/dp/B0DFLY2WHL
𝗛𝗮𝗿𝗱𝗰𝗼𝘃𝗲𝗿: https://www.amazon.com/dp/B0DFLYJBRQ
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News of the week brought to you by FWDstart.
In Today's Episode:
- Paymob secures $22m extension to Series B funding, raises $72m in total
Source: Gulf Business
Summary: Egypt-based fintech Paymob has raised a $22 million Series B extension round, bringing the company’s total Series B funding to $72 million. The funding was led by EBRD Venture Capital with participation from Endeavor Catalyst, along with existing investors, including PayPal Ventures, BII, FMO, A15, Nclude and Helios Digital Ventures.
- UAE-Based Fintech Platform FlapKap Raises $34M In Pre-Series A Funding Round
Source: Forbes Middle East
Summary: UAE-based fintech FlapKap has raised $34 million in a pre-Series A funding round that included both debt and equity financing. The round is led by BECO Capital and saw significant new investment from Pact VC, with follow-on contributions from A15, Nclude, QED Investors, and debt financing from Channel Capital.
- Revolut Looks to Expand Digital Banking License Effort to Middle East
Source: Pymnts
Summary: Revolut is reportedly planning to expand into the GCC, applying to become an electronic-money institution and offer remittances in the UAE while exploring opportunities in Saudi Arabia.
- Abu Dhabi’s Mubadala takes stake in Revolut
Source: Financial Times
Summary: Abu Dhabi's Mubadala has invested in Revolut for the first time, joining a share sale that valued the fintech at $45 billion. The sale, held in August, saw employees sell $500 million worth of shares. Mubadala was among other investors like Coatue, D1 Capital Partners, and Tiger Global.
- Seez Secures USD 4.2M to Accelerate US Expansion Plan
Source: Waya Media
Summary: Seez, a UAE-based automotive SaaS startup, has raised $4.2 million from several international investors. Founded in 2015 by Tarek Kabrit and Andrew Kabrit, Seez is an automotive tech company that provides car dealerships and OEMs with software solutions to improve their customer experience and increase sales. After expanding into markets such as the UK, Australia, Denmark, South Africa, New Zealand, Mexico, and GCC countries.
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(أحمد طقاطقه)
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—
Super Returns VIP Code For 10% Discount: FKR3559FWDS
Book your ticket here: https://tinyurl.com/khf9ms7u
SVVI Calendar: https://www.svvi.co/
VC Evolve Book On Amazon:
𝗲𝗕𝗼𝗼𝗸: https://www.amazon.com/dp/B0DFLJF1PR
𝗣𝗮𝗽𝗲𝗿𝗯𝗮𝗰𝗸: https://www.amazon.com/dp/B0DFLY2WHL
𝗛𝗮𝗿𝗱𝗰𝗼𝘃𝗲𝗿: https://www.amazon.com/dp/B0DFLYJBRQ
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News of the week brought to you by FWDstart.
In Today's Episode:
- Tabby to acquire Saudi digital wallet Tweeq in move to expand services beyond BNPL
Source: Arabian Business
Summary: Saudi Arabia-based fintech Tabby has announced finalising an acquisition deal of Tweeq, a Saudi-based digital wallet licensed by the Saudi Central Bank (SAMA). Founded in 2019 in the UAE by Hosam Arab, Tabby is a buy now pay later (BNPL) fintech with over $6 billion in annualised transaction volume. Meanwhile, Tweeq, founded in 2020 by Saeed Albuhairi and Abdulaziz Almalki, offers a spending account that allows customers to spend, send, and manage their money.
- Tarabut acquires UK payments platform Vyne
Source: Zawya
Summary: UAE-based open banking platform Tarabut has acquired the London-based fintech Vyne. This acquisition bolsters Tarabut’s ability to deliver faster, more accessible, and more interconnected financial services, both across the region and globally. Founded in Bahrain in 2019 by Abdulla Almoayed, Tarabut connects a regional network of banks and fintechs via a universal application programming interface (API). Vyne, founded in 2019, is a real-time account-to-account (A2A) payments platform for online businesses.
- UAE’s Ziina Raises $22M In Series A Funding To Shift From Payments To Full Financial Services
Source: Forbes Middle East
Summary: UAE-based fintech Ziina has raised $22 million in a Series A funding round, led by US-based Altos Ventures, along with other investors including Fintech Collective, Avenir Growth, Activant Capital, Y Combinator, FJ Labs, MEVP, and Jabbar Internet Group.
- Saudi fintech Malaa secures $17.3 million Series A
Source: Wamda
Summary: Saudi Arabia-based fintech Malaa has closed a Series A funding round at $17.3 million, led by SNB Capital, with participation from Derayah Financial, Khwarizmi Ventures, Impact46, and WKN. Founded in 2021 by Ali Aloraini and Faisal Alqarni, Malaa is a wealth management tool that empowers individuals and organizations for better financial decisions by offering data-driven financial products and services.
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(أحمد طقاطقه)
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