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MENA Digest: Connect Money leads fundraising; Smpl Holdings sets up VC fund

VCCircle

VCCircle · 1y ago

MENA Digest: Connect Money leads fundraising; Smpl Holdings sets up VC fund

Egyptian fintech startup Connect Money raised $8 million in seed funding, leading fundraising activities in the MENA region. Other startups that secured funding include UAE-based B2B payments platform Comfi and Iraq-based food delivery app Alsaree3. Additionally, Smpl Holdings established a venture capital fund.

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Singapore VC Golden Gate Ventures sets timeline for close of MENA fund

VCCircle

VCCircle · 1y ago

Singapore VC Golden Gate Ventures sets timeline for close of MENA fund

Singapore-based venture capital firm Golden Gate Ventures is planning to close its MENA-focused fund by the first quarter of 2025. The firm expanded to the Middle East and North Africa region earlier this year with a target of raising $100 million. This timeline indicates that Golden Gate Ventures is making progress towards reaching its fundraising goals.

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

VCCircle

VCCircle · 10m 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.

MENA Digest: Fintechs lead fundraising this week; VC investment falls in August

VCCircle

VCCircle · 11m ago

MENA Digest: Fintechs lead fundraising this week; VC investment falls in August

Fintech startups dominated venture capital fundraising in the MENA region this week, with Egyptian digital payments provider Paymob and UAE-based fintech FlapKap securing funding. However, VC investment in startups fell by 76% in August compared to July, with $83 million raised across 30 deals. Paymob raised $22 million in a Series B extension round, while FlapKap raised $34 million in pre-Series A funding. Other startups receiving funding included cloud kitchen IO Kitchens in Oman and proptech startup HissaTech in Saudi Arabia.

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

VCCircle

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: Global Ventures-backed Abhi leads fundraising this week

VCCircle

VCCircle · 10m ago

MENA Digest: Global Ventures-backed Abhi leads fundraising this week

Abhi, a UAE fintech startup supported by Global Ventures and VentureSouq, took the lead in fundraising activities in the MENA region this week. The company secured debt funding to support its expansion plans. Additionally, other startups like WellPal, AILA, and Moroccan proptech also successfully raised capital during this period.

Singapore VC firm Golden Gate Ventures rolls out $100-mn MENA fund

VCCircle

VCCircle · 1y ago

Singapore VC firm Golden Gate Ventures rolls out $100-mn MENA fund

Singapore-based venture capital firm, Golden Gate Ventures, has introduced a $100 million investment fund aimed at the Middle East and North Africa (MENA) region. The firm, which already manages assets worth $250 million across three continents, has secured $20 million in commitments for the MENA fund. The new fund will focus on supporting early-stage startups in the rapidly growing MENA market.

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

VCCircle

VCCircle · 5m 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: Bahrain’s Sellou, Moroccan startup PayTic, others secure funding

VCCircle

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.

MENA Digest: Pathfinder leads funding this week; Saudi’s OTO gets another VC onboard

VCCircle

VCCircle · 1y ago

MENA Digest: Pathfinder leads funding this week; Saudi’s OTO gets another VC onboard

Pathfinder, a UAE retail technology solutions provider, secured funding from private equity firm Silver Rock Group. Meanwhile, Saudi logistics technology platform OTO raised its Series A funding. Other venture capital deals were also made in the MENA region this week.

ADQ, Oman Investment Authority float VC fund to make bets in buzzing MENA startup market

VCCircle

VCCircle · 1y ago

ADQ, Oman Investment Authority float VC fund to make bets in buzzing MENA startup market

Gulf sovereign wealth investors, ADQ and Oman Investment Authority, have launched a venture capital fund to support high-growth startups in the Middle East and North Africa (MENA) region. The fund aims to capitalize on the increasing interest from VC players in the MENA startup market. ADQ is based in Abu Dhabi, while the Oman Investment Authority is the sovereign wealth fund of Oman.

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