Talabat, the leading food and grocery delivery platform in the region, launched its IPO earlier this month on the Dubai Financial Market and announced its price range of AED 1.5 to 1.6 per share on Tuesday. The company will offer 3.49 billion shares, representing 15 percent of its total share capital, which implies a valuation ... Read more ›
0
500 Startups and Sanabil Investments, a subsidiary of Saudi’s Public Investment Fund have launched a new fund and accelerator program to invest in pre-seed and seed-stage startups across the Middle East & North Africa. The fund will be led by Amal Dokhan who is joining as a Partner and 500 Startups Managing Partner Bedy Yang. ... Read more ›
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Indus Valley Capital, a Pakistan-focused VC founded and led by former LinkedIn executive Aatif Awan, has raised $17.5 million for its maiden fund. The fund had a target size of $15 million and was oversubscribed with over 75 individual investors from all around the world. Aatif had started IVC in early 2019, a year after ... Read more ›
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Abu Dhabi-headquartered fintech NymCard has launched Open API platform for payment card processing and issuing, it announced in a statement to MENAbytes today. The announcement follows NymCard’s $8 million Series A which it had raised last month. The newly launched APIs aim to remove the friction from regional payments industry by making the process of ... Read more ›
0
Spotify, the world’s leading music streaming service has launched in Pakistan, it announced in a statement today to MENAbytes. It is one of the over 80 new markets where Spotify is launching its service this month. The rumors of company’s expansion to Pakistan had first surfaced online in November 2020 after it had created a ... Read more ›
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Bahrain-headquartered Open Banking platform Tarabut Gateway has raised $13 million in a seed round led by Berlin-headquartered European VC Target Global. The round was also joined by United Kingdom’s Kingsway and Entrée Capital as well as regional investors like Zamil Investment Group, Global Ventures, Almoayed Technologies, and Mad’a Investment. According to our data, it is ... Read more ›
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About a year after its launch, Dubai and Riyadh-based Nuwa Capital has announced the first close of $75 million for its debut fund (Nuwa Ventures Fund I – NVFI) that will invest in startups in the Middle East, North Africa, Turkey, Pakistan, and Sub-Saharan Africa. Nuwa is aiming for a final close of $100 million ... Read more ›
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Riyadh-headquartered crowdlending platform Raqamyah has raised $2.3 million in an investment round led by Impact46, it announced in a statement to MENAbytes today. The round also included participation of Vision Ventures, Mad’a Investment, Al Yusr, Fadeed Investment, and some angel investors. Founded by Ammar Bakheet who has over 20 years of experience in the financial ... Read more ›
3
Dubai-headquartered fintech FlexxPay has raised $3 million in a pre-Series A round comprised of equity debt, it announced today. The investors include JIMCO, Target Global, Wamda, DIFC FinTech Fund, March Holding, Arzan VC, SuknaVentures, Nuwa Capital, and VentureSouq. A part of this round was announced in December 2019. It looks like they’ve now closed the Pre-Series ... Read more ›
5
As the world went into lockdown last year, most people turned to online shopping, which accelerated ecommerce adoption and increased its share of total US retail sales by 75% last year (from 8% penetration in 2019 to 14% in 2020). Retail giants such as Walmart, Best Buy, and Target saw their market capitalization nearly double ... Read more ›
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Karachi-headquartered fintech Safepay has raised seed funding from global financial technology platform company Stripe. The startup did not share the exact size of the deal but has told us that it’s a seven-figure (USD) amount alongside participation of other local and international investors. The round also includes Berlin-based Global Founders Capital (which invested last month ... Read more ›
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Cairo-based property tech startup Sakneen has raised $1.1 million in a seed round led by Algebra Ventures, it announced in a statement today to MENAbytes. The round also included ‘major participation’ from Sarwa Capital and Foundation Ventures. It was also joined by US-based real estate private equity firm Hem + Spire, Saudi-based investment firm Nakhla ... Read more ›
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As cities worldwide went into lockdown last March, most businesses were forced to shut their doors and forgo revenues for a few tough weeks. You would think restaurant owners had an easier time, given they worked with food aggregators to power the on-demand food economy. You would be wrong. Let me explain. Since its inception, ... Read more ›
10
Bottomline, a US-based publicly listed payments company, with a market cap of $2.2 billion, has acquired treasury management software provider TreausryXpress, the two companies announced in a statement on Tuesday. The financial details of the transaction were not disclosed. Founded in 2017 in Paris by a Lebanese entrepreneur Anis Rahal, TreasuryXpress provides online software to ... Read more ›
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Less than six months after becoming the first billion-dollar technology company in Egypt, Fawry has hit another milestone by surpassing the $2 billion market cap for the first time. Its stock has doubled in the last six months and closed at an all-time high of EGP 46.90 today, pushing its market cap to over EGP ... Read more ›
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Riyadh-headquartered restaurant management platform Foodics has raised $20 million in a Series B round co-led by Public Investment Fund’s subsidiary Sanabil Investments and STV. It is the second investment by Sanabil in a tech startup in the region. The firm had invested last year in Dubai-based used cars marketplace SellAnyCar to help it expand to ... Read more ›
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Dubai-based peer-to-peer video-based marketplace Camelan has received Y Combinator’s backing. It is part of Y Combinator’s ongoing Winter 2021 (YC W21) batch, the startup told MENAbytes today. Ziina, a Dubai-based fintech is also part of YC 21. It is the first time in the last few years to see two UAE startups making it to ... Read more ›
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Abu Dhabi-headquartered fintech NymCard has raised $7.6 million in a Series A round, it told MENAbytes today. The round was led by Shorooq Partners with the participation of OTF Jasoor Ventures and VentureSouq, and takes its total funding to date to $12 million. NymCard never announced but had previously raised $4.4 million in two different ... Read more ›
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Riyadh-based fintech Hakbah has raised $1.2 million in a seed round, it announced in a statement to MENAbytes today, without disclosing the names of investors. (We’ve reached out to them to learn more about wh the investors are and will update the story if we hear from them.) Founded in late 2018 by Naif AbuSaida, ... Read more ›
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Riyadh-based buy now pay later platform Tamara has raised $6 million in a seed round led by Saudi’s Impact46, it announced in a statement to MENAbytes today. The round, according to MENAbytes data, is the largest seed round ever raised by a Saudi startup (and one of the largest of the region too). It was ... Read more ›
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Istanbul-headquartered ultrafast delivery startup Getir has raised $128 million in a Series B round led by Michael Moritz’s Crankstart Investments and Brazil-based Base Partners, it announced in a statement to MENAbytes on Tuesday. The round valued the company at about $850 million which makes it one of the most valued tech startups of the Middle ... Read more ›
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27.11.2024 17:29
Last update: 17:20 EDT.
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