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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Lahore-based live video streaming platform Trivzia has raised a little over $400,000 (PKR 65 million) in a seed round from Pakistan-focused 47 Ventures, it announced in a statement today. The startup runs a mobile-app based live trivia game show, Jeeto Naye Andaz Say, where participants get a chance to win money by answering ten multiple-choice ... Read more ›
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Riyadh-based fintech Tweet has raised an undisclosed amount of money in an investment round led by STV and Raed Ventures, it announced today. The startup said its a seven-figure (USD) round without sharing further details. Founded in early 2020 by Saeed AlBuhairi, Mohammed Faheem, Abdulaziz AlMalki, and Abdullah AlOtaibi, Tweeq is building a spending account ... Read more ›
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Cairo-headquartered trucking marketplace Trella has raised $42 million in a Series A round comprised of equity and debt, it announced today. The round includes $30 million in equity investment and $12 million as debt financing. The equity part of the round was led by Maersk Growth, the corporate venture arm of one of the world’s ... Read more ›
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Korean Venture Investment Company (KVIC), a South Korea government-backed fund of funds, has committed to invest in Abu Dhabi-based early-stage VC Shorooq Partners’ Bedaya Fund, the VC firm announced today, saying that it is the first Middle Eastern fund to have received a commitment from KVIC since its inception in 2000. Shorooq did not disclose ... Read more ›
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Flat6Labs, one of the leading accelerators in the region has expanded to Jordan with the launch of a $20 million seed fund, it announced today. The fund (Jordan Seed Fund) has already achieved the first close of $7.4 million from the International Finance Corporation (IFC), the Innovative Startups and SMEs Fund (ISSF), Beyond Capital, Bank ... Read more ›
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Karachi-headquartered B2B ecommerce marketplace Jugnu and its parent company Saleflo have raised ~$3.2 million (PKR 518 million) from Systems Limited, a Lahore-based leading global technology, and business process outsourcing services provider. Some angel investors also participated in the deal. Systems made an investment of $3 million in exchange for a 20 percent stake in the ... Read more ›
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Dubai-based wellbeing-tech startup Valeo Wellbeing has raised $3 million in seed funding from Global Founders Capital, Global Ventures, Nuwa Capital, and FJ Labs, it announced today. The startup is led by third-time entrepreneur Sundeep Sahni who has previously co-founded Southeast Asia’s largest ecommerce platform Lazada and mobile wallet HelloPay, which were acquired by Alibaba for ... Read more ›
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Almost everything you buy online has a 4–5x mark-up embedded in the price. That blue shirt you just bought for $100 and looks fabulous on you costs less than $15 to make. You’re not paying that high of a mark-up because ecommerce businesses are greedy. Most of them actually struggle to make money and the ... Read more ›
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Cairo-based B2B ecommerce marketplace Fatura has raised $3 million in a pre-Series A co-led by Sawari Ventures and Arzan Venture Capital, it announced today. Egypt Ventures, EFG-EV, Cairo Angels, and Khwarizmi Ventures also participated in the deal. The startup has previously raised an undisclosed amount of money in a seed round in July 2020. Founded ... Read more ›
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Abu Dhabi-headquartered Shorooq Partners has opened an office in Cairo, with Tamer Azer joining the VC firm as a partner for Egypt, it announced in a statement today. It would be the fourth office for the UAE VC that also has a presence in Riyadh and Bahrain. The move, Shorooq Partners, said is part of ... Read more ›
0 newcommer
Lahore-based online grocery platform GrocerApp has raised $5.2 million in a Series A round led by Dubai-based investment firm Hayaat Global, it announced today. New York-based Millville Opportunities Fund; Middle Eastern investors Wamda Capital, Jabbar Internet Group, Nama Ventures; China’s Haitou Global; and Pakistan’s Lean Bricks and Walled City Co., and some angel investors including ... Read more ›
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Karachi-headquartered online pharmacy startup Dawaai has raised $8.5 million in a round led by 500 Startups, taking its total financing to date to $10.5 million. The round is comprised of equity and debt, and included the participation of existing investor Sarmayacar and two family offices. The startup has told MENAbytes that equity accounts for a ... Read more ›
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SoftBank’s Vision Fund 2 has agreed to invest in a Saudi messaging company, Rajeev Misra, the CEO of SoftBank Investment Advisers, which oversees Vision Funds told Arab News in an interview on Sunday. It will be Vision Fund’s first investment in the Middle East. He did not share the details saying that the company itself ... Read more ›
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Dubai-headquartered trucking platform Trukkin has raised $7 million in a Series A round led by Saudi-based Emkan Capital, it announced in a statement today. Impact 46, Taya Group, and other ‘strategic investors’ also joined the round. The startup had previously raised $3.5 million in May 2019. Founded in 2017 by Janardan Dalmia, Trukkin connects shippers ... Read more ›
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Dubai-based Y Combinator-backed fintech Ziina has raised $7.5 million in a new round of funding led by Avenir Growth Capital and Class 5 Global, it announced on Monday. Wamda Capital, FJ Labs, Graph Ventures, Goodwater Capital, Jabbar Internet Group and Oman Technology Fund’s Jasoor Ventures also joined the deal along with some high-profile individual investors ... Read more ›
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Amman-based mobile-first classifieds marketplace OpenSooq has raised $24 million in an investment round led by Saudi Jordanian Investment Fund, it announced today. Existing investors including FJ Labs and iMENA Group also participated in the deal. ‘ Started in 2012, OpenSooq claims to have become the leading mobile-based classifieds marketplace of the region, with over 65 ... Read more ›
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Cairo-based fintech MoneyHash has raised pre-seed investment led by Amir Farha’s COTU Ventures, it announced in a statement today, without disclosing the exact size of the deal. African early-stage VCs Ventures Platform, Kepple Africa Ventures, and some angel investors also participated in the round. Founded in late 2020 by Nader Abdelrazik, Mustafa Eid, and Anisha ... Read more ›
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Karachi-based salary advance platform Abhi has raised $2 million in a seed round led by Vostok Emerging Finance, it announced in a statement today. The equity-only round also included the participation of Village Global (their first investment in Pakistan), Sarmayacar, i2i Ventures, Zayn Capital, and Portman Wills, the co-founder and CTO of Wagestream, a UK-based ... Read more ›
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Karachi-based stock brokerage KASB Securities that owns and operates stock trading app KTrade has raised $4.5 million in a funding round led by Hong Kong-based investment firm TTB Partners and New York-based global VC HOF Capital. The round was also joined by fintech investor Christian Angermayer, and David Mortlock, the managing partner of German investment ... Read more ›
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SoftBank is in talks with Kitopi to lead a $400 million investment in the Dubai-headquartered cloud kitchen startup, Reuters reported on Wednesday, citing unnamed sources. The Japanese company is looking to invest the money through Vision Fund 2 and has already submitted a proposal to lead the mega-round, noted the report. If the deal goes ... Read more ›
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27.11.2024 12:48
Last update: 12:40 EDT.
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