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 fintech Stake has raised $14 million in a Series A round led by MEVP (Middle East Venture Partners, it announced in a statement today. The round was also joined by Aramco’s Wa’ed Ventures, Mubadala Investment Company, Al Jomaih Holding, a leading Saudi conglomerate with interests in real estate, financial services, energy, automotive, and consumer ... Read more ›
20
Rasmal Ventures, a Doha-based VC firm has launched its debut $100 million fund, to invest in startups in Qatar, the Middle East & North Africa, and globally, it announced in a statement today. The fund, Rasmal Innovation Fund I, has hit over $30 million as its first close with different institutions, family offices, and high ... Read more ›
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Dubai-headquartered fintech Elevate has raised $5 million in equity and debt in a pre-Series A round from UAE’s Negma Group, it announced in a statement today. The breakdown of debt and equity was not disclosed by the YC-backed startup which previously raised seed funding from Y Combinator, Global Founders Capital, Venture Souq, and Visa. The ... Read more ›
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Riyadh-headquartered fintech SiFi has raised $10 million in a seed round led by Public Investment Fund’s Sanabil Investments, and Raed Ventures, it announced in a statement today. The round was also joined by ANB seed (a seed fund by ANB Capital, the investment arm of Arab National Bank), Saudi’s Rua Ventures, Dubai-based Byld Ventures, and ... Read more ›
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Dubai-based SaaS startup Grubtech has raised $15 million as part of its Series B and Series A extension rounds, it announced in a statement today, without sharing the breakdown of the two rounds. The Series B was led by venture arm of Jahez, the Saudi food delivery company, and joined by existing investors; New York-based ... Read more ›
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Riyadh-headquartered fintech Hala has secured fresh funding from one of the leading global private equity firms TPG, The Information reported last week. The startup has not announced this deal publicly yet. Its last disclosed financing round was a $6.5 million Series A in 2021 which was led by Saudi’s Impact46. The specific details of the ... Read more ›
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Abu Dhabi-based Shorooq Partners has launched a new $100 million venture debt fund and hit its first close, the firm announced on Thursday. The details of how much the firm has raised in the first close were not disclosed. It is Shorooq’s second debt fund. The first was launched over three years ago in partnership ... Read more ›
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Following an overwhelming response from instituional investors, Riyadh-based fintech Rasan has set the final price for its IPO at SAR 37 per share, the top of its previously announced range, it announced on Wednesday. This means that the company will be raising a little over $224 million as a result of the offering and will ... Read more ›
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Dubai-headquartered proptech Huspy has raised an undisclosed amount of fresh funds in a round led by a leading European venture investor Balderton Capital (an early backer of Revolut, PhotoRoom, and Depop). The round was also joined by Fifth Wall, the world’s largest VC firm focused on real estate tech. The round follows a $37 million ... Read more ›
0
Beyon Solutions, a subsidiary of Beyon Group (also known as Bahrain Telecommunications Company), which owns Bahrain’s leading telecom operator Batelco, has acquired Link Development, a leading Egyptian software solutions firm, with operations in Egypt, Saudi Arabia, and the United Arab Emirates. The financial details of the deal were not disclosed. Beyon, per statement has acquired ... Read more ›
0
Riyadh-headquartered rewards and engagement platform Merit has raised $12 million in an ‘oversubscribed’ pre-Series B round led by The Saudi Investment Bank’s investment arm Alistithmar Capital i-Cap, and joined by existing investors; Saudi’s Tech Invest Com and Hambro Perks Oryx Fund, it announced today in a statement to MENAbytes. The startup originally planned to raise ... Read more ›
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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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Most popular sources
Business Insider
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20% 12 |
The Verge
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11% 5 |
Tech Wire Asia
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8% 2 |
Gizmodo
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8% 3 |
Tom's Hardware
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8% 5 |
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27.11.2024 08:06
Last update: 08:00 EDT.
News rating updated: 15:04.
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