Makkah-headquartered ecommerce platform provider Salla has acquired Sweply, a digital advertising platform, for an undisclosed sum. Following the acquisition, Sweply will be rebranded as “Salla Ads” and integrated as the official advertising solution within Salla’s ecosystem. Founded in 2016 by Nawaf Hariri and Salman Butt, Salla enables merchants to set up their online stores within ... Read more ›
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UAE and US-based biotech startup BioSapien has extended its pre-Series A round to $7 million with new investment from Golden Gate Ventures’ MENA Fund, marking the fund’s first investment in the region, it announced in a statement today. The extension follows the company’s initial $5.5 million raise in December led by Global Ventures, with participation ... Read more ›
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Hamilton, a protocol that provides technology for turning real-world assets in MENA into digital tokens on Bitcoin, has raised $1.7 million in a pre-seed round. The funding was led by Egyptian fintech-focused VC DisrupTech Ventures, with support from CMS, DeSpread, Hyperithm, Core Ventures, and other investors, the company announced earlier this week. Founded in 2024 ... Read more ›
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Saudi-headquartered foodtech startup Calo has raised $25 million in a Series B round led by Nuwa Capital, with participation from STV and Khwarizmi Ventures, along with some regional family offices, it announced in a statement today. All three VCs are returning investors. The round values the company at $250 million, according to multiple sources who ... Read more ›
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Saudi beauty ecommerce platform Nice One has set the final price for its initial public offering at SAR 35 per share, the company announced last week. The price, which is at the top end of its previously announced range, implies a market cap of over SAR 4 billion ($1.06 billion). The institutional book-building process attracted ... Read more ›
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Dubai-based accounting software startup Wafeq has raised $7.5 million in a Series A funding round, it announced today. The round was led by London-based 9900 Capital, with participation from Gary Turner, the former CEO of Xero’s EMEA operations, and existing investors Raed Ventures and Wamda Capital. Founded in 2019 by Nadim Alameddine, Wafeq is an ... Read more ›
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Talabat, the leading on-demand delivery platform in the MENA region, made its debut on the Dubai Financial Market (DFM) today, marking the largest global technology IPO of 2024. However, the company’s shares closed 6.9% lower at 1.49 dirhams, dampening some of the excitement around its successful fundraising. The stock opened at AED 1.7, rising over ... Read more ›
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Nice One, the leading beauty ecommerce platform in Saudi Arabia, has announced the price range for its IPO, set between SAR 32 and SAR 35 per share. The company will offer 34.65 million shares, representing 30 percent of its total share capital, which could potentially raise up to $322 million, at a valuation of over ... Read more ›
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Talabat, the leading on-demand delivery platform in the Middle East and North Africa, has priced its initial public offering (IPO) at the top of its price range, raising $2.04 billion. The company increased its offering size from 15% to 20% of its total share capital to accommodate substantial investor demand, it announced last week. The ... Read more ›
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Dubai and Riyadh-headquartered eyewear retailer Eyewa has raised $100 million in a Series C funding round led by General Atlantic, with participation from Badwa Capital and Turmeric Capital, it announced today. The US-based global growth investor, which recently opened its office in Riyadh, also led $67.5 million Series B of Saudi fintech Lean earlier this ... Read more ›
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Egyptian billionaire Naguib Sawiris has launched Moniify, a digital business and finance news platform focused on emerging markets, investing tens of millions of dollars in the venture. The Dubai-based platform, which launched today, aims to provide business and finance news content targeting young professionals and entrepreneurs in emerging markets. The platform features a modern interface ... Read more ›
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Dubai-based digital gift card marketplace YOUGotaGift has been acquired by Giftee, a Japanese digital gifting platform. The deal, which was announced earlier this month, closed on Friday with Giftee acquiring a 91% stake for $28.1 million, valuing the company at $30.9 million. The remaining 9% stake is held by YouGotaGift’s CEO and founder Husain Makiya, ... Read more ›
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Jada, the Saudi fund of funds, by Public Investment Fund, has invested in the second fund of Seedra Ventures, a local fund manager that invests in startups across the Middle East & North Africa. The fund completed its first close in the second quarter earlier this year. The size of the commitment by Jada was ... Read more ›
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Saudi Arabia’s leading beauty ecommerce platform Nice One has announced its intention to list on the Saudi Exchange’s Main Market (Tadawul). The company plans to offer 34.65 million shares, representing 30% of its share capital through a combination of existing and new shares. The offering consists of 29.15 million (25.24%) existing shares and 5.5 million ... Read more ›
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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 ›
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Dubai-based spend management platform Pemo has secured $7 million in pre-Series A funding, co-led by Shorooq Partners and Augmentum Fintech. The round follows its $12 million seed round in April 2022, which was backed by Cherry Ventures, Shorooq, FinTech Collective, and others. The startup, which offers corporate virtual and physical cards with automated expense management ... Read more ›
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Riyadh-based fintech infrastructure provider Lean Technologies has secured $67.5 million in Series B funding led by General Catalyst, bringing its total funding to over $100 million. It is the first investment by General Catalyst in a Saudi startup. The round also included participation from Bain Capital Ventures, Duquesne Family Office, and Arbor Ventures. Founded in ... Read more ›
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Elphinstone, a Y Combinator-backed fintech that allows Pakistani retail investors to invest in US stocks and ETFs has acquired Trikl, a local investment platform and digital asset management company, the two announced in a statement to MENAbytes today. While financial details weren’t disclosed, the deal values Trikl at a seven-digit USD figure. Founded in 2020 ... Read more ›
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African B2B ecommerce platforms Wasoko and Maxab are valued at $526 million following their merger completion in August 2024, according to VNV Global’s latest financial report. VNV Global, an investor in Wasoko, holds a 2.4% stake in the combined entity, valuing its position at $12.6 million based on a revenue multiple of 2.6 derived from ... Read more ›
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Saudi agtech startup Nabt has raised $1.5 million in a seed round led by Merak Capital, it announced on Monday. The round was also joined by a few angel investors. Founded in 2022 by Abdullah Alotaibi, Nabt operates a three-sided marketplace connecting farmers, businesses, and delivery partners. The platform enables farmers to sell fresh produce ... Read more ›
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Most popular sources
Wired
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29% 4 |
Business Insider
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27% 1 |
Gizmodo
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10% 6 |
Vox
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7% 3 |
The Verge
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5% 4 |
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01.04.2025 21:59
Last update: 21:35 EDT.
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