UAE-based fintech ClearGrid has emerged from stealth after raising $10 million in a dual funding round, it announced today. The pre-seed round ($3.5 million) was co-led by Raed Ventures and Beco Capital, while the seed round ($6.5 million) was co-led by Nuwa Capital and Raed Ventures. Additional investors include Aramco’s Waed Ventures, KBW Ventures, Sharaka, ... Read more ›
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UAE-based healthcare fintech startup Klaim has raised $26 million in funding, comprising $10 million in Series A equity funding and $16 million in debt financing, it announced on Friday. The Series A round was led by Saudi-based Mad’a Investment with participation from CDG Invest, the investment arm of Morocco’s Deposit and Management Fund. Founded in ... Read more ›
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Ninja, a Saudi quick commerce startup founded and led by Ebrahim Al-Jassim, the founder of HungerStation is in talks to raise fresh funds at a valuation of over $1 billion, Bloomberg reported on Tuesday. The round, according to the report, could be finalized and closed as early as this month, and is being led by ... Read more ›
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Talabat has acquired InstaShop from Delivery Hero for $32 million, the company announced today. The price is largely symbolic, as the deal is part of an internal restructuring within Delivery Hero. The acquisition was first disclosed last year when Delivery Hero announced plans to take Talabat public on the Dubai Financial Market. The transaction was ... Read more ›
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Fawry, the leading Egyptian payments company, has announced strong financial results for the fiscal year 2024, with revenues reaching EGP 5.51 billion ($121.6 million), up 68.4% year-on-year in local currency (and 14% in USD). The company’s net profit surged 124.6% to EGP 1.61 billion ($35.5 million), reflecting a 52% increase in USD terms, achieving its ... Read more ›
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Tamara has received a license from the Saudi Central Bank (SAMA) to provide consumer finance and buy-now-pay-later (BNPL) services, the central bank announced on Monday. This milestone follows the company’s earlier preliminary approval and makes Tamara one of 65 finance companies now licensed by SAMA. With this official license, Tamara can offer financing solutions exceeding ... Read more ›
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Disrupt.com, a Dubai-headquartered venture builder by the team behind Cloudways, which was acquired by Digital Ocean for $350 million in 2022, has announced a $100 million commitment to build and back AI-first technology ventures globally, bucking the trend of contracting venture capital funding. Founded by two brothers and a cousin; Aaqib Gadit, Uzair Gadit, and ... Read more ›
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Cohere has released Command R7B Arabic, a lightweight multilingual AI model optimized specifically for Arabic language capabilities to support enterprises in the Middle East and North Africa. The new model can be served on low-end GPUs, MacBooks, or even CPUs while offering a 128k context length. Its compact size enables businesses to more easily scale ... Read more ›
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Saudi gaming studio Lobah has raised $12 million from the Social Development Bank (SDB), the bank announced during Leap 2025 in Riyadh. The funding is part of SDB’s expanded support for the gaming and esports sector, aimed at advancing Saudi Arabia’s National Gaming and Esports Strategy. Lobah, according to its website, was formed by combining ... Read more ›
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Instabug, the AI-powered mobile observability platform, has appointed Jim Douglas as its new CEO, with co-founder Omar Gabr transitioning to the role of President, the company announced today. The leadership change comes after Gabr’s 13-year tenure as CEO, during which he helped build Instabug into a leading platform for mobile app performance monitoring and debugging. ... Read more ›
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DHL Ecommerce has acquired a minority stake in Saudi Arabian parcel logistics company Ajex, marking its expansion into the Kingdom’s rapidly growing e-commerce parcel market, the companies announced today. The financial details and the exact size of the stake were not disclosed. The deal represents DHL Eommerce’s first entry into Saudi Arabia, where it will ... Read more ›
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UAE-based fintech Flow48 has secured $69 million in a Series A funding round combining debt and equity, led by Breega with participation from 212, Speedinvest, Daphni, Endeavor Catalyst, Evolution Ventures, and Plus VC, it announced on Monday. The breakdown of debt and equity was not disclosed. This funding comes after Flow48 closed a $25 million ... Read more ›
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Journify, a marketing technology startup, has secured $4 million in funding led by Silicon Badia with participation from Saudi’s RZM Investment and other strategic investors, it announced today. Founded in 2023 by Taoufik El Jamali, Omar Al Shoubaki, and Amine Chouki, and headquartered in the US and UAE with technology hubs in Morocco and Jordan, ... Read more ›
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Djamel Mohand, Chief Operating Officer of Foodics, the leading restaurant management platform in the Middle East & North Africa, has announced his departure from the company after nearly five years to launch his own startup. He announced the decision in a LinkedIn post earlier today, ” After almost 5 years of an historical journey it ... Read more ›
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UK-based Pinewood Technologies has acquired Dubai-headquartered automotive AI startup Seez for $42 million, it announced today. With the deal, it is acquiring a 90.9 percent stake in the firm, to complete the 100 percent acquisition of the firm. Pinewood acquired the remaining 9.1 percent stake in the Dubai startup through a strategic investment of $4.2 ... Read more ›
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Bahrain-based Lola, a startup that enables users to customize and order cakes through its mobile app, has raised $1.3 million in a pre-seed round led by Vision Ventures and Plus VC, with participation from strategic angel investors, it announced today. Founded by Othman Janahi in September 2023, Lola launched first in Bahrain before expanding to ... Read more ›
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Saudi online beauty retailer Nice One has seen its market capitalization cross $2 billion, making it the largest listed online retailer in MENA, after its shares more than doubled in value since its IPO last month. The company’s shares, which were listed on Tadawul on January 8 at SAR 32, reached SAR 68.2 last Thursday, ... Read more ›
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Saudi Arabia-based Palm Ventures has announced the initial close of its $30 million Fund I, focusing on early-stage startups across MENA with a strategic allocation for US-based AI opportunities, it announced last week. Founded by Dr. Yassir Nasief and Redwan Abudawood, Palm Ventures, according to its website, has already made 13 direct investments in MENA ... Read more ›
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UAE-based classifieds platform Dubizzle Group (previously known as Emerging Markets Property Group or EMPG) has acquired Egyptian online car marketplace Hatla2ee for an undisclosed amount, it announced on Tuesday. The acquisition comes less than a year after Dubizzle’s purchase of UAE-based automotive platform Drive Arabia. Founded in 2016 by Samy Swellam, Hatla2ee has grown to ... Read more ›
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Tunisia-based circular fashion marketplace Dabchy has raised fresh funds in a pre-Series A round led by Janngo Capital, with participation from US-based Renew Capital and Village Capital, along with angel investors including InstaDeep’s founder Karim Beguir, it announced on Tuesday. It didn’t share the exact size of the deal but said it was a seven-figure ... Read more ›
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Most popular sources
Wired
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34% 1 |
Business Insider
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26% 3 |
Gizmodo
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8% 9 |
Vox
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6% 3 |
The Verge
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5% 4 |
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02.04.2025 00:54
Last update: 00:46 EDT.
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