Riyadh-headquartered fintech Rasan has announced its intention to go public on Tadawul. The Saudi startup intends to sell a 30 percent stake on the primary Saudi stock exchange, Tadawul, becoming the first startup to list on the exchange. Jahez, which is the first Saudi startup to have gone public in early 2022, listed on Nomu, ... Read more ›
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Egyptian asset-backed lending platform Mnzl has raised $3.5 million in a funding round led by Africa-focused VC firms P1 Ventures and Ingressive Capital, and London-based Localglobe, it announced in a statement today. The round was also joined by 500 Global, Flat6labs, First Circle Capital, Enza Capital, Beenok, and some angel investors. Mnzl was founded in ... Read more ›
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Egyptian fintech Swypex has raised $4 million in a seed round led by global VC Accel, it announced in a statement today. It is the first fintech investment by Accel in the Middle East & North Africa. The firm has previously invested in Instabug, which is its only other portfolio company in Egypt. The round ... Read more ›
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Riyadh-based investment platform Abyan Capital has raised $18 million in a Series A round led by STV, it announced on Thursday. The round also included participation from Saudi’s Wa’ed Ventures and RZM Investment. Founded in 2021 by Abdullah Aljeraiwi, Omar Almania, and Saleh Alaqeel, Abyan Capital launched its Shariah-compliant robo-advisory platform in 2022 to make ... Read more ›
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Lahore-based HR and payroll startup Paismo has raised $1.3 million in a seed round led by Indus Valley Capital. The ‘oversubscribed’ round was also joined by Antler and Jedar Capital and takes the startup’s total funding to date to $1.5 million. Founded in 2022 by Rebecka Zavaleta and Usama Mahmud, Paismo is building what it ... Read more ›
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First published on Termsheet, a newsletter with commentary on startups and venture capital in emerging markets by Zubair Naeem Paracha. Careem’s Super App spinout had been in the works for over 18 months at least. The company reportedly held talks with different investors in the UAE & Saudi and finally announced a $400 million deal ... Read more ›
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Saudi Arabia’s futuristic city of NEOM launched a new accelerator program, Seven Senses, to support entrepreneurship in the NEOM and Tabuk regions. Launched by NEOM’s Social Responsibility Department, the program is designed to help SMEs, creative craftsmen, freelancers, and innovative businesses capable of bringing about change in the two regions. Starting today and until May ... Read more ›
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The United Nations World Tourism Organization (UNWTO) launched a new startup competition to support female tourism tech entrepreneurs and innovators across the Middle East. The Women in Tech Startup Competition: Middle East was announced at Biban 2023, Saudi Arabia’s largest SME conference, as part of UNWTO’s ongoing efforts to make tourism a pillar of women’s ... Read more ›
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Brainy Squad and Exits MENA have announced a partnership aimed at creating informative and engaging content that delves into investment and entrepreneurship topics. By leveraging Brainy Squad’s creative and production services with Exits MENA’s expertise in the investment industry, this collaboration aims to provide valuable insights for businesses and entrepreneurs in the MENA region. According ... Read more ›
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From funding rounds to new product launches and partnerships, the MENA region’s startup ecosystem has had quite a busy week. In MENAbytes’ weekly startup news roundup, we highlight the most important news and updates from the MENA tech and startup scene, keeping you informed and up-to-date on the latest developments in the region. Here’s what ... Read more ›
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GEMS Education, a UAE-based K-12 private education provider, launched its Youth Entrepreneurship Accelerator Program powered by GEMS World Academy and sponsored by CAFU. A first of its kind in the region, the school-based accelerator program covers all aspects of turning an idea into a fully-fledged operational startup. With the help of a cohort of experienced ... Read more ›
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Kanari AI, a dialectal speech technology solutions specialist, launched Fenek AI, the first MENA-focused automatic transcription, translation, and subtitling platform for dialectal languages. Fenek AI allows its users to transcribe audio and video files in Arabic and in English, edit and share their files in several formats, subtitle videos, and create workspaces on the platform ... Read more ›
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Sygnum, a Zurich-based bank, received a Financial Services Permission from Abu Dhabi Global Markert’s (ADGM) Financial Services Regulatory Authority (FSRA), following its initial approval late last year. Thanks to the license, Sygnum Bank Middle East can offer regulated crypto banking services to clients in the region through a “concierge-style client service” that includes digital asset ... Read more ›
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Flat6Labs, MENA’s leading seed and early-stage venture capital firm, recently announced the first cohort in its Riyadh Seed Program. The four-month program aims to help startups build their products, test the market, improve their business models, and pitch to external investors. The seed program is part of a bigger investment agreement between Flat6Labs and Saudi ... Read more ›
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Tap Payments, the leading paytech company in MENA, is offering Paypal onboarding, operations, and payouts to businesses through its partnership with the worldwide leader in the payment industry. This allows businesses to have a single partner for all their payment requirements, streamlining operations and providing an easier way to facilitate a seamless payment experience. “We ... Read more ›
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Estater, a Bahraini proptech company, raised $5 million in a Series A round led by undisclosed investors from Saudi Arabia and Bahrain. Founded in 2009, Estater uses artificial intelligence and data science to estimate the value of properties in real estate, allowing its users to access a property’s value by selecting it on a map. ... Read more ›
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The 12th edition of the Annual Investment Meeting (AIM) will be held in Abu Dhabi for the first time from the 8th to the 10th of May, 2023. Over 600 influential speakers are expected to participate in dialogue sessions this year under the theme “The Investment Paradigm Shift: Future Investment Opportunities to Foster Sustainable Economic ... Read more ›
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Applications are now open for the fifth edition of Africa’s Business Heroes (ABH), a program that gives African entrepreneurs a unique platform to showcase their startups. The top 10 finalists will share a $1.5 million cash grant to grow their businesses. ABH is the Jack Ma Foundation’s flagship philanthropic program spotlighting Africa’s entrepreneurial talents and ... Read more ›
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Written by Sami Awa. It’s hard to believe that the RiseUp Summit just wrapped up its 10th edition. This year, the region’s largest startup and entrepreneurship event was held at the intersection of the past and the future—The Grand Egyptian Museum—located right by the Pyramids of Giza. In what was possibly its most impactful edition ... Read more ›
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The Egyptian Financial Regulatory Authority (FRA) announced the launch of Corbeh, their latest platform, in collaboration with the Egyptian Exchange (EGX) at RiseUp’s summit of the decade. Corbeh is the first integrated technology innovation hub and sandbox for the nonbank financial sector. It’s aimed at tech-driven startups focused on innovative solutions that transform and boost ... Read more ›
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The Verge
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Tom's Hardware
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27.11.2024 07:33
Last update: 07:26 EDT.
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