Dubai-based rent-now-pay-later platform Keyper has raised $4 million in equity funding in a pre-Series A round led by Beco Capital and Middle East Ventures Partners, it announced in a statement today. The round was also joined by existing investors; Vivium Holdings, Jabbar Internet Group, and Signature Developers; and new investors; Annex Investments, Pin Investment, and ... Read more ›
2
Singapore-based VC firm Golden Gate Ventures has hit $20 million as first close of its maden $100 million fund for the Middle East & North Afirca, it announced in a statement today. The first set of commitments has come from Qatari businesses and families with Al Khor Holding, a conglomerate with interests in real estate ... Read more ›
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Beco Capital, one of the leading VC firms of the region has scored its second billion-dollar exit with the sale of its entire stake in Dubai-headquartered proptech Property Finder. The shares held by Beco Capital have been bought back by Property Finder, making this one of the first transactions of its kind in the region. ... Read more ›
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Dubai-based eyewear startup has quietly raised fresh funds from the leading US private equity firm General Atlantic, The Information reported on Tuesday. The investment in Eyewa was made earlier this year but hasn’t been publicly announced by the firm yet. The specifics of the round, including size and other investors (if any) are not immediately clear. ... Read more ›
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Riyad Capital, a wholly-owned subsidiary of Riyad Bank, has launched 1957 Ventures, an investment vehicle that will invest in fintech startups in Saudi Arabia, it announced in a statement on Monday. It is the second venture capital fund by Riyad Capital. The firm is also behind Riyad Taqnia Fund (RTF), which was founded in 2016, ... Read more ›
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Riyadh-based fintech Rasan is looking to raise $224.3 million in the first-ever Tadawul listing for a Saudi startup. The startup has set its price range for the initial public offering (IPO) at SAR 35-37 per share, it announced on Sunday. At the top of this range, it should have a market cap close to $750 ... Read more ›
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Dubai-based data analytics startup Lune has raised $1.5 million in a seed round from Dubai Future District Fund (DFDF), Plus Venture Capital, Reach International, and Judah Ventures, it announced in a statement on Thursday. The round was also joined by a few family offices and angel investors. Founded in 2020 by Helal Tariq Lootah and ... Read more ›
2
Swvl announced its financial results for 2023 less than two weeks ago. The company, which has been struggling since its public markets debut, posted its first annual net profit, hinting at a turnaround. From a net loss of $123.6 million in 2022, the Cairo-born and Dubai-headquartered mobility startup achieved a net profit of $3.1 million ... Read more ›
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Riyadh-based VC firm Impact46 is set to have its second IPO with the upcoming Tadawul listing of local fintech Rasan. The Saudi firm was also an investor in the local food delivery startup Jahez which went public in early 2022. Impact46 led a $24 million investment round in Rasan in November 2021. It is the ... Read more ›
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Riyadh-headquartered fintech Rasan has announced its intention to go public on Tadawul. The Saudi startup intends to sell a 30 percent stake on the primary Saudi stock exchange, Tadawul, becoming the first startup to list on the exchange. Jahez, which is the first Saudi startup to have gone public in early 2022, listed on Nomu, ... Read more ›
0
Egyptian asset-backed lending platform Mnzl has raised $3.5 million in a funding round led by Africa-focused VC firms P1 Ventures and Ingressive Capital, and London-based Localglobe, it announced in a statement today. The round was also joined by 500 Global, Flat6labs, First Circle Capital, Enza Capital, Beenok, and some angel investors. Mnzl was founded in ... Read more ›
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Egyptian fintech Swypex has raised $4 million in a seed round led by global VC Accel, it announced in a statement today. It is the first fintech investment by Accel in the Middle East & North Africa. The firm has previously invested in Instabug, which is its only other portfolio company in Egypt. The round ... Read more ›
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Riyadh-based investment platform Abyan Capital has raised $18 million in a Series A round led by STV, it announced on Thursday. The round also included participation from Saudi’s Wa’ed Ventures and RZM Investment. Founded in 2021 by Abdullah Aljeraiwi, Omar Almania, and Saleh Alaqeel, Abyan Capital launched its Shariah-compliant robo-advisory platform in 2022 to make ... Read more ›
22
Lahore-based HR and payroll startup Paismo has raised $1.3 million in a seed round led by Indus Valley Capital. The ‘oversubscribed’ round was also joined by Antler and Jedar Capital and takes the startup’s total funding to date to $1.5 million. Founded in 2022 by Rebecka Zavaleta and Usama Mahmud, Paismo is building what it ... Read more ›
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First published on Termsheet, a newsletter with commentary on startups and venture capital in emerging markets by Zubair Naeem Paracha. Careem’s Super App spinout had been in the works for over 18 months at least. The company reportedly held talks with different investors in the UAE & Saudi and finally announced a $400 million deal ... Read more ›
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Saudi Arabia’s futuristic city of NEOM launched a new accelerator program, Seven Senses, to support entrepreneurship in the NEOM and Tabuk regions. Launched by NEOM’s Social Responsibility Department, the program is designed to help SMEs, creative craftsmen, freelancers, and innovative businesses capable of bringing about change in the two regions. Starting today and until May ... Read more ›
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The United Nations World Tourism Organization (UNWTO) launched a new startup competition to support female tourism tech entrepreneurs and innovators across the Middle East. The Women in Tech Startup Competition: Middle East was announced at Biban 2023, Saudi Arabia’s largest SME conference, as part of UNWTO’s ongoing efforts to make tourism a pillar of women’s ... Read more ›
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Brainy Squad and Exits MENA have announced a partnership aimed at creating informative and engaging content that delves into investment and entrepreneurship topics. By leveraging Brainy Squad’s creative and production services with Exits MENA’s expertise in the investment industry, this collaboration aims to provide valuable insights for businesses and entrepreneurs in the MENA region. According ... Read more ›
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From funding rounds to new product launches and partnerships, the MENA region’s startup ecosystem has had quite a busy week. In MENAbytes’ weekly startup news roundup, we highlight the most important news and updates from the MENA tech and startup scene, keeping you informed and up-to-date on the latest developments in the region. Here’s what ... Read more ›
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GEMS Education, a UAE-based K-12 private education provider, launched its Youth Entrepreneurship Accelerator Program powered by GEMS World Academy and sponsored by CAFU. A first of its kind in the region, the school-based accelerator program covers all aspects of turning an idea into a fully-fledged operational startup. With the help of a cohort of experienced ... Read more ›
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Most popular sources
Business Insider
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21% 3 |
MacRumors
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21% 16 |
Ars Technica
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7% 1 |
Eurogamer.net
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6% 2 |
Vox
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6% 3 |
| View sources » | |
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18.05.2024 09:57
Last update: 09:51 EDT.
News rating updated: 16:50.
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