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 ›
0
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 ›
0
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 ›
0
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 ›
0
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 ›
0
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 ›
0
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 ›
0
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 ›
0
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 ›
0
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 ›
0
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 ›
0
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 ›
0
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 ›
0
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 ›
0
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 ›
0
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 ›
0
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 ›
0
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 ›
0
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
Most popular sources
Wired
|
29% 4 |
Business Insider
|
27% 1 |
Gizmodo
|
10% 6 |
Vox
|
7% 3 |
The Verge
|
5% 4 |
| View sources » | |
LIKE us on Facebook so you won't miss the most important news of the day!
01.04.2025 21:52
Last update: 21:35 EDT.
News rating updated: 04:41.
What is Times42?
Times42 brings you the most popular news from tech news portals in real-time chart.
Read about us in FAQ section.