Saudi-based alternative investment platform Sukna Capital has secured regulatory approval to launch a first-of-its-kind open-ended direct financing fund targeting SMEs in the region. The Sukna Fund for Direct Financing (SFDF), now greenlit by Saudi Arabia’s Capital Market Authority (CMA), will allow institutional investors to deploy non-dilutive, sharia-compliant capital to small and mid-sized businesses. Unlike typical ... Read more ›
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Riyadh-based embedded insurance platform Yasmina has raised $2 million in a seed funding round led by Scene Holding, with participation from Access Bridge Ventures, Arzan VC, and early backing from Sanabil Investment Accelerator by 500 MENA, it announced today. Founded in 2023 by Masoud Alhelou and Bashar Abalkhail, Yasmina positions itself as Saudi Arabia’s first ... Read more ›
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Noon has launched geo-targeted ads on the back of its delivery riders through a new partnership with Flyby, a UAE-based company that produces digital smart boxes for fleets, the company announced on Thursday. The rollout includes hundreds of Noon riders across the UAE, equipped with Flyby’s “Digital Delivery Boxes.” These internet-connected screens display static ads ... Read more ›
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Cairo-based fintech Valu has received initial regulatory approval from Jordan’s central bank to launch its Buy Now, Pay Later (BNPL) service in the country, marking the company’s first expansion beyond its home market and a signal of its broader regional ambitions. The entry into Jordan comes on the heels of Valu’s recent listing on the ... Read more ›
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Cairo-based proptech startup Nawy has acquired a majority stake in Dubai-based SmartCrowd, marking its official entry into the GCC market. The move comes just weeks after Nawy announced a $75 million Series A fundraise led by e& Capital, with participation from global and regional investors including Partech, March Capital, and Shorooq Partners. The financial details ... Read more ›
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Saudi-listed food delivery platform Jahez is acquiring a 76.56% stake in Qatar’s Snoonu for $245 million, marking its entry into the Qatari market and further expansion across the GCC, it announced in a statement today. Jahez will acquire 75% of Snoonu’s existing shares from current shareholders for $225 million in a combination of cash and ... Read more ›
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Karachi-headquartered ecommerce startup Bazaar has acquired leading Pakistani payments company Keenu in a strategic move to create what it says would be the country’s first integrated commerce and fintech ecosystem. The acquisition, approved by the State Bank of Pakistan, marks the first time a major Pakistani ecommerce company has brought payments infrastructure in-house. The financial ... Read more ›
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Saudi Arabia-based SaaS startup Rekaz has raised $5 million in seed funding to expand its operating system for service businesses, it announced today. The round was led by COTU Ventures, with participation from Impact46, Shorooq Partners, Numrah Capital, and angel investors. Founded in 2017 by Abdulrahman Alomran and Abdulaziz Alkharashi, Rekaz offers an all-in-one platform ... Read more ›
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Three-year-old Saudi quick commerce platform Ninja has become the latest Middle Eastern unicorn with a $254 million pre-IPO funding round. The startup raised the latest capital in a round led by Riyad Capital, with participation from vii Ventures, Altia Investment, Tamasuk Al Rajhi, and other local investors. The round values the company at $1.5 billion. ... Read more ›
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Dubai and Madrid-based proptech company Huspy has raised $59 million in a Series B funding round led by Balderton Capital, with participation from Peak XV (formerly Sequoia Capital India and Southeast Asia), ExBorder Partners, Turmeric Capital, BY Ventures, Dara Management, and KE Partners, it announced today. The round brings Huspy’s total funding to over $100 ... Read more ›
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Egyptian fintech Valu’s market cap reached $370 million as of close of trading today, following a blockbuster debut on the Egyptian Exchange (EGX) last week that saw shares surge 852.4% from their opening price of EGP 0.78 to close at EGP 7.40, hitting the maximum price ceiling allowed for first-day trading. The stock closed today ... Read more ›
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Dubai-based proptech startup Prop-AI has closed a $1.5 million pre-seed funding round led by Plus VC, Joa Capital, Select Ventures, Oraseya Capital, and Plug & Play, with participation from angel investors in Saudi Arabia and Bahrain. The funding will support regional expansion, technology development, and strategic partnerships across MENA and Europe. Founded in 2023 by ... Read more ›
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Dubai-headquartered loyalty and rewards platform Related has raised $8 million (SAR 30 million) in strategic funding from Saudi alternative investment firm Equivator, the company announced on Tuesday. The investment will accelerate Related’s expansion in Saudi Arabia and support the development of AI and blockchain-powered loyalty solutions. Founded over a decade ago, Related claims to serve ... Read more ›
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Cairo-based fintech startup Octane has raised $5.2 million in a funding round led by Shorooq Partners, Algebra Ventures, and SC Holding, the company announced on Tuesday. The funding will be used to expand the startup’s regional footprint, grow its acceptance network, and enhance AI capabilities including fraud detection and route optimization. Founded in September 2022 ... Read more ›
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Dubai-based legal tech startup Qanooni has raised $2 million in a pre-seed funding round led by Village Global, with participation from Oryx Fund by Salica Investments, TA Ventures, and a network of strategic angel investors, it announced on Tuesday. Founded in 2024 by serial entrepreneurs Anuscha Iqbal, Ziyaad Ahmed, and Karim Shiyab, Qanooni is building ... Read more ›
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ChatGPT maker OpenAI is in discussions to raise up to $40 billion in funding, with Saudi Arabia’s Public Investment Fund (PIF) and UAE-based sovereign wealth fund MGX among the key investors being courted, according to a report by The Information. The massive funding round, which would be led by SoftBank Group, is expected to see ... Read more ›
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Dubai-headquartered fintech Qashio has raised $19.8 million in a mix of equity and non-equity funding led by existing investor Rocketship VC, with participation from MoreThan Capital, regional banks, and family offices, it announced on Tuesday. The startup did not disclose the breakdown between equity and debt. It previously raised $10 million in a seed round ... Read more ›
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Riyadh-headquartered fintech Stitch has raised $10 million in a seed funding round led by Arbor Ventures, COTU Ventures, Raed Ventures, and SVC, with participation from family offices and notable industry veterans, it announced today. The round included investments from Marqeta founder Jason Gardner and Abdulmalik AlSheikh, who previously established critical payment networks Mada and Sadad ... Read more ›
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Turkish authorities have detained 13 people, including Papara’s founder and chairman, Ahmet Faruk Karslı, in a major investigation into illegal online betting and money laundering, according to reports from Reuters and state media. The investigation focuses on allegations that Papara, a leading Turkish fintech, was used to move money linked to illegal betting activities. A ... Read more ›
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Dubai-based fintech Gainz has closed a seven-figure USD pre-seed round, structured as a mix of equity and debt, led by Antler MENAP, Lithium Holdings, and Eleventh Invest Inc., with participation from a diverse network of regional high-net-worth investors, it announced on Sunday. Founded in December 2024 by Egyptian serial entrepreneurs Shehab Mokhtar and Sherif Abdelaty, ... Read more ›
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Kuwait-based quick commerce startup Circle has secured $6 million in Series A funding from a consortium of strategic investors, it announced today. The startup did not disclose the identity of the investors or provide any additional details. Founded in 2020 by Altaf AlThekair, Circle offers grocery and daily essential deliveries in under 20 minutes through ... Read more ›
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Gizmodo
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Business Insider
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24% 1 |
Tom's Hardware
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8% 1 |
MacRumors
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8% 2 |
Eurogamer.net
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6% 3 |
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14.07.2025 14:48
Last update: 14:41 EDT.
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