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News on Medial
Fintech firm Kiya.ai partners with Arab Financial Services to expand in middle east
Startup News FYI
·
1y ago
Medial
Fintech firm Kiya.ai has partnered with Arab Financial Services (AFS) to expand its presence in omnichannel banking, core-banking, regulatory technology, and metaverse solutions in the Middle East and North Africa. The partnership aims to enhance the banking and financial services industry by leveraging Kiya.ai's expertise in banking technologies like core banking and digital payments. Kiya.ai serves financial institutions globally, offering solutions in financial services, core banking, and risk and compliance. AFS, regulated by the Central Bank of Bahrain, provides digital payment services to over 60 clients in the region.
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DPI charts new VC strategy, targets fintech across Africa, MENA
VCCircle
·
3m ago
Medial
Development Partners International (DPI), a private equity firm focusing on Africa, is planning to allocate the remaining $77 million from Egypt’s fintech-focused Nclude Fund. This move is part of DPI's strategy to expand its venture capital initiatives across Africa and the Middle East. DPI's efforts reflect a growing interest in the fintech sector within these regions, as they aim to capitalize on emerging opportunities and stimulate technological advancements in financial services.
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Beams Fintech’s Sagar Agarvwal on fall in valuations, portfolio expansion and more
VCCircle
·
1y ago
Medial
Beams Fintech Fund, led by co-founder and partner Sagar Agarvwal, is raising $100 million for its debut fund. The private investment firm focuses on growth-stage financial services and software companies and has been adding limited partners from the Middle East and Mauritius. The fund aims to invest in high-potential companies in the fintech industry and is nearing its final close.
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Dubai VC firm COTU Ventures hits final close of debut fund
VCCircle
·
1y ago
Medial
Dubai-based venture capital firm COTU Ventures has announced the final closing of its debut investment fund, raising $54 million to support startups in the Middle East and North Africa region. The firm, which aims to invest between $500,000 and $1.5 million as an initial investment, plans to focus on the UAE, Saudi Arabia, and Egypt. COTU has already invested in over 20 startups in the region, including fintech firm MoneyHash and online mortgage platform Huspy. Limited partners for the fund include the Dubai Future District Fund, Lunate, Mubadala, and Arab Bank.
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PJT Partners to buy Dubai-based advisory firm in Middle East push
VCCircle
·
10m ago
Medial
Investment bank PJT Partners has agreed to acquire Dubai-based advisory firm deNovo Partners, as it looks to expand its presence in the Middle East and gain access to a client base of prominent businesses and government-related entities. The deal, which is expected to close next month, highlights the growing prominence of Dubai as a global financial hub and the increasing investments by global banks in the Middle East. The terms of the deal were not disclosed. deNovo has provided advisory services in the region for over four years and will continue to operate under its founder and executive chair, May Nasrallah.
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SVC-backed MEVP doubles down on commitment to Saudi Arabia
VCCircle
·
6m ago
Medial
Middle East Venture Partners (MEVP), a Dubai-based venture capital firm, is strengthening its focus on Saudi Arabia by including Saudi limited partners in its fourth fund, which targets $150 million. MEVP, known for supporting early and growth-stage tech startups in the Middle East, is deepening its involvement in the Saudi market as it seeks to leverage regional potential. This strategic move aligns with broader goals to expand investment in technology within the region.
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Aurionpro snaps up French consulting firm Fenixys
VCCircle
·
7m ago
Medial
Indian technology services provider, Aurionpro Solutions, has acquired French consulting firm Fenixys for €10m ($10.4m) in cash. Fenixys provides capital markets services to banks and financial institutions across Europe and the Middle East, and its acquisition will strengthen Aurionpro's banking and fintech offerings. Fenixys' geographical expansion into Europe will help Aurionpro leverage its experience of working with financial institutions undergoing IT transformations, as well as its relationships with major banks in those region.
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Fintech-focused venture fund Cedar-IBSi Capital secures funding from Hades Group
Economic Times
·
1y ago
Medial
Cedar-IBSi Capital, a fintech-focused venture capital fund, has secured funding from Middle East-based asset management firm Hades Financial Private Capital Group (HFPCG). This marks the second major institutional investor for the fund set up by Cedar and IBS Intelligence. The fund aims to be HFPCG's primary source of fintech exposure. Cedar-IBSi Capital will invest in around 15 early-stage startups focused on technology in banking, with an initial check size of $500,000 to $1 million. The fund will prioritize entrepreneurs and enterprise fintechs solving problems within financial services companies.
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GreyLabs AI mops up $1.5 million in funding round led by Matrix Partners India
Economic Times
·
1y ago
Medial
Mumbai-based fintech company GreyLabs AI has secured $1.5 million in funding led by Matrix Partners India, with participation from industry veterans. The company provides a speech analytics platform that enhances sales agent productivity through automation and insights. GreyLabs AI currently serves seven clients and aims to expand its customer base to over 30 by the end of the fiscal year. The software supports multiple languages and the company plans to expand its services globally, targeting markets such as the Middle East and Southeast Asia.
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UAE's National Pulse invests in Singapore fintech firm Aleta Planet
VCCircle
·
1y ago
Medial
United Arab Emirates (UAE) strategic management company, National Pulse, has invested in Singapore-based payments solutions provider, Aleta Planet. The financial details of the investment were not disclosed. The investment will allow Aleta Planet to expand in the UAE, Middle East, and Africa, providing cross-border payment services for businesses in the region. Aleta Planet facilitates global payments, including through platforms like UnionPay, and handles around $2 billion in cross-border payments annually. With National Pulse's support, Aleta Planet aims to reach $6 billion in transactions within the next year. The companies also plan to establish a joint venture focusing on business-to-business cross-border transactions.
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MENA Digest: UAE startups lead funding activity; CredibleX, Anghami secure $55 mn each
VCCircle
·
7m ago
Medial
In the Middle East and North Africa region, UAE startups were the frontrunners in funding activity. Some notable startups include Klickl, which raised $25 million in a Series A funding round to expand its Web3 banking services. Fintech company CredibleX secured $55 million in seed funding to enhance its financial services for SMEs. Lebanon-founded music streaming app Anghami received $55 million in funding from OSN Group. Other startups such as OmniOps, InvoiceQ, and Unipal also raised capital for business growth and expansion.
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