Karachi-based fintech Qist Bazaar has raised $3.2 million in a Series A round led by Pakistan-focused VC Indus Valley Capital, and joined by Asian investor Gobi Partners. The firm previously raised money from Bank Alfalah, a leading Pakistani commercial bank. Founded in 2021 by Arif Lakhani, Qist Bazaar is a buy now pay later (BNPL) ... Read more ›
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Dubai-based HR SaaS startup Cercli has raised $4 million in a seed round led by US-based Afore Capital, it announced in a statement today, adding that it is the first investment by the Silicon Valley firm in the region. The round was also joined by Amir Farha’s COTU Ventures, Y Combinator, Rebel Fund, and a ... Read more ›
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Dubai-based fintech Ziina has raised $22 million in a Series A round led by US-based Altos Ventures, it announced in a statement today. The round was also joined by Avenir Growth, Activant Capital, Y Combinator, FJ Labs, MEVP, and Jabbar Internet Group. The round takes total capital raised to date by Ziina to over $30 ... Read more ›
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Riyadh-headquartered buy now pay later platform Tabby has acquired the Saudi mobile wallet Tweeq, it announced in a statement today. The financial details of the transaction were not disclosed. It is the first acquisition by Dubai-born fintech that was valued at $1.5 billion in its last financing round in 2023. The move would allow the ... Read more ›
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Riyadh-headquartered online cars marketplace Syarah has raised $60 million in a Series C round led by Saudi investment firm Artal Capital. The round was also joined by Elm, Impact46, Tawuniya, and Derayah Ventures. Elm and Impact46 previously co-led the $20 million Series B round of Syarah in 2021. The latest round also includes $20 million ... Read more ›
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Delivery Hero is preparing to list its Middle East & North Africa business, Talabat, on the Dubai Financial Market in Q4 2024, it announced today. The IPO would involve a secondary sale of shares by Delivery Hero, while the company plans to retain a majority stake in the local entity. It would be the first ... Read more ›
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Cairo-headquartered Maxab and Nairobi-headquartered Wasoko have completed their merger, eight months after announcing the deal, the two companies announced in a joint statement today. The merged entity will form the largest network of B2B informal retailers with more than 450,000 merchants, the statement noted. The co-founders of Maxab and Wasoko, Belal El-Megharbel and Daniel Yu, ... Read more ›
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Barq, a Saudi fintech, founded and led by former CEO of Stc Pay Ahmed Alenazi, has onboarded over 1 million users in just three weeks after its public launch, the startup announced on Tuesday. The fintech received an e-wallet license from the Saudi Central Bank (SAMA) in January this year. Founded last year, Barq offers ... Read more ›
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Noon, the leading ecommerce firm of the region, has become profitable after years of losses. The company recorded a profit of about $324 million in 2023, according to the details shared by the Public Investment Fund. The company recorded losses of $865 million in 2022, $614 million in 2021, and $445 million in 2020, totaling ... Read more ›
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Lahore-headquartered fintech and logistics startup PostEx has raised $7.3 million in a pre-Series A round led by Dubai-based Conjunction Capital. The round, which takes PostEx’s total financing to date to about $16 million, was also joined by Dash Ventures, Sanabil500, and existing investors, including VentureSouq, FJ Labs, and Zayn VC. Founded in 2020 by Omer ... Read more ›
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Jahez, the leading Saudi food delivery company announced strong H1 2024 results last week, showcasing robust growth despite different challenges faced by the sector in the Kingdom, the most recent one being a food poisoning incident that took place in the second quarter in Riyadh. The Saudi company reported a 31% year-on-year increase in Gross ... Read more ›
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Cairo-based fintech Lucky One has raised $3 million in fresh funds from existing investors; including Lorax Capital Partners, KEM, and DisrupTech Ventures, it announced in a statement on Tuesday. The financing came in the form of a convertible note. Lucky One was started in 2019 by Dsquares, an Egyptian loyalty and rewards solutions provider. Dsquares ... Read more ›
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Riyadh-based software startup Blend has raised $1.33 million from a group of angel investors in a pre-seed round, it announced today, without disclosing the names of investors. Founded in 2023 by Omar Alluhayyan, Blend enables restaurants, cafes, and cloud kitchen operators, to manage all their online orders from different food delivery platforms through a single ... Read more ›
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Breadfast, the leading Egyptian grocery delivery platform is launching a prepaid debit card for its customers later this year. The card will be powered by Visa and Abu Dhabi Islamic Bank (Egypt), and will come with a bank account. The platform has had a closed-loop wallet since its founding in 2017, and currently, over 60 ... Read more ›
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Riyadh-headquartered logistics startup Oto has raised $8 million in a Series A round led by PIF-owned Sanabil Investments, it announced in a statement on Monday. The round was also joined by Saudi’s Sadu Capital, UAE’s Iliad Partners, Jordan’s Propeller, and US-based Soma Capital. The round takes Oto’s total financing to over $11 million. Founded in ... Read more ›
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BitOasis, a leading crypto exchange in the Middle East & North Africa has been acquired by its Indian counterpart CoinDCX, the two companies announced in a joint statement today. CoinDCX previously invested in BitOasis less than a year ago. The financial details of the acquisition were not disclosed but a CoinDCX spokesperson told TechCrunch that ... Read more ›
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Egyptian fintech Connect Money has raised $8 million in a seed round led by Disruptech Ventures, Algebra Ventures, and Lorax Capital Partners, with additional participation from One Stop and MDP, it announced in a statement today. The startup was founded in 2023 by Ayman Essawy, Marwan Kenawy, and Momtaz Moussa, who previously founded Egyptian loyalty ... Read more ›
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Nvidia, the leading AI chip manufacturer, is expanding to the Middle East & North Africa through a new partnership with Qatari telecom giant Ooredoo. The terms of the partnership were not disclosed but it will see Nvidia’s advanced AI technology deployed across Ooredoo’s data centers in Qatar, Algeria, Tunisia, Oman, Kuwait, and the Maldives. The ... Read more ›
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Riyadh-based fintech startup Rasan made its public market debut on Saudi Arabia’s Tadawul exchange on June 13, the last trading day before the Eid holidays. The company had initiated its IPO process on May 5 with an intention to float, and the public offering witnessed an exceptionally strong response, getting oversubscribed a staggering 129 times ... Read more ›
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Dubai-based heavy equipment management platform Tenderd has raised $30 million in a Series A round led by Denmark’s A.P. Moller Holding, the parent company of A.P. Moller Group, which owns the world’s largest container shipping company Maersk, and many other businesses. The round was also joined by new investors; London-based B2B SaaS VC Quadri Ventures ... Read more ›
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27.11.2024 07:36
Last update: 07:31 EDT.
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