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MENA Digest: Bahrain’s Daleel, Oman’s Mubashir raise funding

VCCircle

VCCircle · 1y ago

MENA Digest: Bahrain’s Daleel, Oman’s Mubashir raise funding

Bahrain's Daleel and Oman's Mubashir were among the few startups in the Middle East to raise funding during Ramadan. Daleel, a financial marketplace, raised an undisclosed amount led by venture builder Hambro Perks Spring Studios and Flat6Labs. Meanwhile, adtech firm Mubashir secured funding from ITHCA Group to support its expansion plans. In March, MENA startups raised $254m across 54 deals, with SaaS providers leading the funding with $130.6m, followed by fintech with $40m.

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MENA Digest: Bahrain’s Sellou, Moroccan startup PayTic, others secure funding

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VCCircle · 4m ago

MENA Digest: Bahrain’s Sellou, Moroccan startup PayTic, others secure funding

Early-stage startups in the Middle East and North Africa (MENA) region led fundraising activities recently. Notable companies include Moroccan fintech PayTic, securing $4 million for expansion in Africa, and Bahrain-based social commerce platform Sellou, raising seed funding for regional growth. Saudi AI startup STUCK? and UAE proptech Rentify also secured pre-seed investments. Additionally, Saudi B2B marketplace Sary merged with Bangladesh's ShopUp, forming SILQ Group and raising $110 million led by Sanabil Investments and Valar Ventures.

Oman investor comes onboard for Singapore VC Golden Gate Ventures’ debut MENA fund

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VCCircle · 6m ago

Oman investor comes onboard for Singapore VC Golden Gate Ventures’ debut MENA fund

Golden Gate Ventures, a Singapore-based venture capital firm, has expanded to the Middle East and North Africa (MENA) region with a new $100-million fund. Oman’s sovereign investor has joined as a limited partner. The fund, headquartered in Doha, marks Golden Gate Ventures' first international VC initiative aimed at supporting early-stage startups in the MENA region. The collaboration underscores the growing investment interest in the vibrant MENA startup ecosystem.

MENA Digest: Egyptian startups lead funding activity

VCCircle

VCCircle · 1y ago

MENA Digest: Egyptian startups lead funding activity

MENA Digest: Egyptian fintech startups Swypex and MNZL garnered the most funding in the region, amidst a slow week for deals. Both startups secured seed funding. Meanwhile, UAE-based Edtech startup SecureMyScholarship closed a bridge round. Overall, funding activity was relatively low in the MENA region during this period.

MENA Digest: Egypt’s Mrkoon, UAE’s BILRS, FanTV secure funding

VCCircle

VCCircle · 5m ago

MENA Digest: Egypt’s Mrkoon, UAE’s BILRS, FanTV secure funding

Funding activity in the Middle East and North Africa (MENA) region recently slowed due to Ramadan, but several startups still secured early-stage funding. Egyptian platform Mrkoon got bridge funding for regional expansion, while UAE’s BILRS and FanTV secured funding for technological growth and AI enhancement, respectively. Additionally, UAE’s Talabat Holding acquired Instashop for $32 million to boost its regional grocery and retail offerings. MENA startups saw significant funding growth in February with $494 million raised across 58 deals.

MENA Digest: Saudi’s Al Menu leads funding activity; Global Ventures onboards new LP

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VCCircle · 10m ago

MENA Digest: Saudi’s Al Menu leads funding activity; Global Ventures onboards new LP

- Saudi Arabian foodtech SaaS firm Al Menu leads startup funding activities in MENA region with a double-digit investment. - UAE-based podcast distribution platform Podeo raises growth capital to expand its geographical footprint. - Several startups secure funding in the MENA region, contributing to the growing startup ecosystem. - Al Menu's funding highlights the potential of the foodtech industry in the region. - Podeo's funding reflects the increasing popularity and demand for podcasts in the Middle East and North Africa. - The MENA region continues to attract investment, fostering innovation and entrepreneurship.

MENA Digest: UAE’s Flow48, Saudi Arabian CQR, Bahrain’s Lola get funding

VCCircle

VCCircle · 6m ago

MENA Digest: UAE’s Flow48, Saudi Arabian CQR, Bahrain’s Lola get funding

Several Middle Eastern startups have received funding to support their growth. UAE's Flow48, a fintech startup, raised $69 million to expand its financial services in Saudi Arabia and the UAE. Saudi Arabian cybersecurity firm CQR secured $3 million to enhance its AI capabilities. UAE-based SaaS provider Journify obtained $4 million for growth, and Omnispay, a fintech startup, raised $1.5 million. In Bahrain, foodtech startup Lola received $1.3 million to expand in Saudi Arabia and the Gulf region.

MENA Digest: Saudi firm CoreVision buys VeFund; MoneyHash, Hayi get funding

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VCCircle · 1y ago

MENA Digest: Saudi firm CoreVision buys VeFund; MoneyHash, Hayi get funding

Saudi firm CoreVision made headlines in the MENA region as it acquired startup investment facilitator VeFund. Fintech platform MoneyHash secured $4.5 million in seed funding, while UAE-based social platform Hayi raised an undisclosed amount of funding. Other startups that received funding include travel tech platform The Digital Hotelier, AI tech company Camb AI, proptech platform Rize, and cloud kitchen startup The Cloud. Additionally, Dubai-based COTU Ventures closed its debut investment vehicle, raising $54 million to support startups in the region. Overall, it was an active week in terms of funding and investments in the MENA tech ecosystem.

MENA Digest: SiFi, Elevate raise funds; May VC funding up 5 times from April, down 58% YoY

VCCircle

VCCircle · 1y ago

MENA Digest: SiFi, Elevate raise funds; May VC funding up 5 times from April, down 58% YoY

Simplified Financial Solutions Company (SiFi) and Elevate, two fintech startups in the Middle East and North Africa (MENA) region, have successfully raised funds to grow their businesses. SiFi secured double-digit seed funding from venture capital firms, while Elevate received a pre-Series A investment round. These funding rounds indicate a positive trend for the MENA fintech sector, with VC funding in May increasing by five times compared to April. However, year-on-year, funding is down by 58%.

MENA Digest: UAE startups lead weekly funding; investment activity slows in June

VCCircle

VCCircle · 1y ago

MENA Digest: UAE startups lead weekly funding; investment activity slows in June

During the week, three UAE-based startups secured venture capital funding, while overall investment activity in the MENA region slowed down in June. Revibe, a refurbished electronics marketplace startup, led the funding with a Series A round. Additionally, agri fintech startup Maalexi also secured funding.

MENA Digest: UAE’s SaaS startup Seez leads funding activity this week

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VCCircle · 11m ago

MENA Digest: UAE’s SaaS startup Seez leads funding activity this week

UAE-based automotive SaaS startup Seez has secured growth capital funding from international investors to support its geographical expansion plans. Additionally, Algerian ed-tech startup LabLabee and Saudi vacation property rental startup Darent have both secured seed funding. Seez's funding round leads the fundraising activity in the MENA region this week.

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