Berlin-based global food (and grocery) delivery giant Delivery Hero is one of the biggest technology companies with local operations all across the Middle East. It earned close to $800 million in revenue from the Middle East, North Africa, and Turkey in 2019 after witnessing an increase of 126 percent from the year before. This was ... Read more ›
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Lahore-based natural beauty brand Conatural has raised $825,000 in a pre-Series A round, it told MENAbytes earlier this week. The investment came from Pakistan-focused VC Karavan and different angel investors including Weihan Liew, Adeel Ahmad, Fahad Qureshi, Mikaeel Habib, and Zaki Sumar. Founded in 2014 by sisters; Myra Qureshi and Rema Taseer, Conatural develops, manufactures ... Read more ›
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Ibnsina Pharma, the second-largest pharmaceutical distributor of Egypt is acquiring a 75 percent stake in local online pharmacy marketplace 3elagi, it announced in a statement today. 3elagi enables customers to search, compare, and order medicines and beauty products from nearby pharmacies. It claims to have served over 600,000 users since its launch in 2018. The ... Read more ›
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Amsterdam-headquartered global payments company Adyen today announced its expansion to Middle East with the opening of an office in Dubai. The company that started in Europe almost fifteen years ago now processes hundreds of billions of euros in payments for thousands of companies including Facebook, Uber, Spotify, L’Oreal, and eBay. The company offers a range ... Read more ›
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Adyen, the Amsterdam headquartered global payments company that allows businesses to accept online and point-of-sale payments, is expanding to the Middle East, it told MENAbytes today. It has opened an office in Dubai to run Middle East operations and will initially support local payment methods in the United Arab Emirates, Saudi Arabia, Kuwait, Oman, Bahrain, ... Read more ›
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Cairo Angels, one of the leading and oldest angel networks of the region that has been actively investing in Egyptian startups, has launched a micro VC fund, it announced today in a statement to MENAbytes, saying that the fund will invest in early-stage startups in the Middle East & Africa. Zeina Mandour, the General Manager ... Read more ›
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Dubai-based influencer marketing platform Brand Ripplr has raised $1 million in a Series A round, it announced in a statement to MENAbytes today. The investment came from Dubai Angel Investors and other individual investors, said the startup. Founded in 2017 by Tanaz Dizadji, Brand Ripplr claims to be the region’s leading influencer marketing platform with ... Read more ›
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Cloud kitchens which are also known as ghost or virtual kitchens are here to stay. With double-digit growth in F&B delivery business, the concept of cloud kitchens is a natural transition. The industry has already crossed a value of $50B globally. These kitchens refer to delivery-only kitchens and F&B brands. However, there are multiple models ... Read more ›
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Karachi-based beauty and fashion ecommerce startup Bagllery has raised $900,000 in a Pre-Series A round from Lakson Investments Venture Capital, it announced in a statement to MENAbytes today. Launched about three years ago, Bagallery, according to its website sells beauty and fashion products for women, men, and kids, from over 500 brands including L’Oréal, Garnier, ... Read more ›
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Cairo-based logistics startup Illa (ILLA) has raised a six-figure investment (USD) in a seed round from Averroes Venture Capital, AUC Angels, and some local and regional angel investors. The round also includes follow-on funding from Flat6Labs Cairo. Illa was part of Flat6Labs Cairo’s Spring 2019 cycle. Launched in March 2019, Illa offers full-stack delivery solutions ... Read more ›
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Tag, a yet-to-launch Pakistani fintech has been granted in-principle approval by the country’s central bank for an Electronic Money Institute License (EMI), it has told MENAbytes today. The approval will enable it to launch what it says would be a financial superapp for the local consumers. “Having received the nod from the State Bank, we’re ... Read more ›
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Dubai-based recommerce platform Cartlow has raised $2 million in a Pre-Series A round, it announced today. The investment came from Arzan VC, Vision Ventures, OTF Jasoor Ventures, and some other investors. Founded by Mohammed Sleiman and launched in 2019, Cartlow sells pre-owned, refurbished, open-box, and clearance products across different categories including mobile phones, laptops, watches, ... Read more ›
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Noon has launched its mobile wallet ‘Noon Pay’ in the United Arab Emirates without any fanfare. The launch was announced on Noon Pay’s social media accounts about three weeks ago. Noon has been working on it for over a year but never really shared any details. Earlier this year, the company had won the initial ... Read more ›
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Cairo-based fashion ecommerce platform Brantu has raised a seven-figure (USD) investment in a Series A round led by one of the leading Egyptian VCs Sawari Ventures, it announced today in a statement to MENAbytes without disclosing the exact size of investment. Brantu (the company) had originally started as an ecommerce venture builder by Mohamed Rizk ... Read more ›
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Bahrain-headquartered fintech Tarabut Gateway has expanded to the United Arab Emirates with the launch of its Open Banking platform in the country, it announced today. The startup has also opened two new offices in Abu Dhabi (Hub71) and Dubai (DIFC FinTech Hive). Tarabut Gateway claims to be MENA’s first regulated Open Banking platform, enabling fintechs ... Read more ›
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Foodics, a Saudi tech startup that offers restaurant management solutions is expanding into lending with the launch of Foodics Capital, its $100 million micro-lending arm that will offer what it says will be Shariah-compliant loans to small F&B businesses. The startup said that it has partnered with local Shariah-compliant consumer and SME financing provider Maleem ... Read more ›
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Khobar-based yet-to-launch on-demand car maintenance services startup Garage has raised $260,000 in an investment round from angel investors, it announced in a statement to MENAbytes today. Founded earlier this year by Osama AlSalloum, Garage aims to digitalize car maintenance services, enabling customers to book these services through its mobile app and receive them at their ... Read more ›
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Egypt’s startup ecosystem has grown multiple folds in the last few years both in the number of deals and the total value of investments raised by startups. Fawry has become the first billion-dollar tech company of the country (just a year after its debut on the local stock exchanges and there have been outliers like ... Read more ›
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Dubai-based adtech startup FoxPush has secured $15 million from JGroup, a Lebanese holding company with interests in media, advertising, real estate, and different other industries. The announcement was made by JGroup late last week. FoxPush has told MENAbytes that the investment was made for a minority stake without sharing further details. It also said that ... Read more ›
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Singapore-based venture studio High Output Ventures launched an accelerator program HOV Accelerate earlier this year to invest in Pakistani startups. Two months after announcing its launch, HOV Accelerate has revealed the three startups that have made it to its first cohort. The first batch includes a cloud kitchen startup, a baby products ecommerce platform, and ... Read more ›
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27.11.2024 16:36
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