Dubai-based software startup Arrow Labs has raised $5 million in Series A from Tim Draper’s Draper Associate, it announced today. The round was also joined by Global Ventures, and B&Y Ventures. It is one of the first investments made by Draper in the Middle East & North Africa. The firm has previously invested in some ... Read more ›
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Aleph Holding, a Miami-headquartered digital media company has acquired an 86 percent stake in Egyptian advertising platform Connect Ads, it announced in a statement today, saying that the deal is comprised of cash and stock. The statement did not share the exact financial details but termed it as a dragon exit for A15, the investment ... Read more ›
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Saudi Research & Media Group (SRMG), a public company that’s behind leading media brands including Argaam, Arab News, Asharq Al-Awsat, and Asharq News, has acquired a 51 percent stake in the Arabic podcast platform Thmanyah, it announced today. Thmanyah produces podcasts and documentaries in Arabic with over 2.2 million people listening to its shows every ... Read more ›
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Bevy, a California-based enterprise software startup for virtual conferences and community events has acquired Egyptian event management software startup Eventtus, it announced today. The financial details of the transaction were not disclosed but Eventtus has told MENAbytes that it was a ‘good deal’ for everyone involved – including the investors of Eventtus. Mai Medhat and ... Read more ›
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Cairo-based food discovery, ordering, and delivery platform Elmenus has raised $10 million in fresh funds (pre-Series C), from leading Egyptian payments firm Fawry, it announced in a statement today. New York-based hedge fund Luxor Capital, and Egyptian property developer Marakez, also participated in the deal. Luxor has previously backed companies like Zomato, Glovo, and Gopuff. ... Read more ›
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Amman-headquartered edtech Abwaab has acquired Pakistani edtech platform Edmatrix to expand its operations in the fifth largest country of the world, it announced in a statement today. It is the first acquisition by the Jordanian startup that has raised $7.5 million to date. The terms of the deal were not disclosed. Both the startups are ... Read more ›
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Cairo-based healthtech Yodawy has raised $7.5 million in a Series B round led by Middle East Venture Partners (MEVP), Global Ventures, and Algebra Ventures. Egypt’s CVentures, P1 Ventures, and Athaal Angel Investors Group, also participated in the deal. Founded in 2018 by Karim Khashaba, Sherief El-Feky, and Yasser AbdelGawad, Yodawy has built a digital pharmacy ... Read more ›
11
Riyadh-based automotive parts platform Speero has closed $1.8 million in a pre-Series A round, co-led by Nuwa Capital and EQ2 Ventures, it announced today. The deal also includes participation from JIMCO (Jameel Investment Management Company), Impact46, Mountain Partners, and Access Bridge Ventures. Founded in 2017 by Abdullah Bin Shamlan and Ameen Mahfouz, Speero enables customers ... Read more ›
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Faisalabad-based fintech DigiKhata has raised $2 million in a seed round, it announced in a statement today. The round was led by Chinese VC MSA Capital, and joined by Shorooq Partners, SOSV, +92 Ventures, and some angel investors. Founded in 2020 by Adnan Aslam, DigiKhata enables micro and small businesses to manage their bookkeeping using ... Read more ›
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Karachi-headquartered trucking marketplace Trukkr has raised $600,000 in seed funding led by Peter Findley, it told MENAbytes today. The investor is a General Partner at Anchorless, a New York-headquartered VC focused on Bangladesh. The deal also included participation from Pakistan-focused investor Kinnow VC, Kargo Technologies’ founder and CEO Tiger Fang, and an executive from Cue ... Read more ›
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Cairo-headquartered B2B ecommerce platform Maxab has closed $40 million in a Series A round led by RMBV, a North Africa-focused impact investor, it announced in a statement today. The deal also included participation of IFC, Flourish Ventures, Crystal Stream Capital, Rise Capital, Endeavour Catalyst, and Maxab’s existing investors Beco Capital and 4DX Ventures. The deal ... Read more ›
24
Dubai-based cloud kitchen startup Kitopi has raised $415 million in a Series C led by SoftBank’s Vision Fund 2, it announced in a statement today. It is one of the largest-ever financing rounds raised by a venture-backed company in the Middle East & North Africa. It is also the first investment by SoftBank in a ... Read more ›
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Dubai-based buy now pay later startup Postpay has raised $10 million from global buy now pay later leader Afterpay and Australia-based AP Ventures, it announced in a statement on Monday. The round takes Postpay’s total financing to date to $35 million. It had previously raised $5 million in equity and $20 million, the startup told ... Read more ›
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Tamer Group, a Saudi company with interests in healthcare, beauty, and FMCG products, is acquiring Mumzworld, the region’s leading ecommerce platform for mother, baby, and child products, it announced in a statement today. The financial details of the transaction were not disclosed. The Jeddah-based company that imports, distributes, promotes, markets, and manufactures different products had ... Read more ›
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Zip24, a Dubai-based logistics SaaS startup has raised $1.2 million in a round led by UK’s Sturgeon Capital, it told MENAbytes today. The deal also included the participation of Hayaat Group, Teqvisory, Robert Kay, and some other angel investors from the region and United Kingdom. Founded earlier this year by former Amazon (MENA) executives Muzaffar ... Read more ›
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Kuwait-headquartered online flowers and gifting platform Floward has raised $27.5 million in a Series B round led by STV, with participation from Impact 46, it announced in a statement today. The round takes total money raised to date by Floward to over $30 million. Founded in 2017 by serial entrepreneur and investor Abdulaziz B. Al ... Read more ›
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Cairo-based celebrity video platform Minly has raised $3.6 million in an ‘oversubscribed’ seed round co-led by 4DX Ventures, B&Y Venture Partners, and Global Ventures, it announced in a statement today. The round was also joined by some other investors including strategic angels like Scooter Braun, Anthony Saleh, Jeffrey Katzenberg, Jason Finger, Arieh Mimran, and Tamim ... Read more ›
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Dubai-headquartered eyewear startup Eyewa has raised $21 million in a Series B co-led by Kingsway Capital and Nuwa Capital, it announced in a statement today. The deal was also joined by French Partners, Endeavor Catalyst, Derayah Ventures, Palm Drive, and Hardy Capital, and takes Eyewa’s total capital raised to date to about $30 million. It ... Read more ›
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STC Pay and another local firm have become the first companies in Saudi to receive a digital banking license. The Saudi cabinet gave approval to country’s finance minister to issue the licenses, the local state news agency reported today. The Saudi Central Bank will now initiate its process to finalize technical and operational requirements for ... Read more ›
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Dubai-based buy now pay later platform Tabby has raised $50 million in debt financing from San Francisco-based Partners for Growth, it announced in a statement today. The startup said that it’s the largest debt facility raised by a fintech in the Middle East & North Africa. It had previously raised a relatively small amount of ... Read more ›
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27.11.2024 09:37
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