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MENA Digest: Nymcard nets $33 mn; ClearGrid, PlaysOut get seed money

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VCCircle · 5m ago

MENA Digest: Nymcard nets $33 mn; ClearGrid, PlaysOut get seed money

NymCard, a payments infrastructure provider in the Middle East and North Africa (MENA) region, secured $33 million from investors to expand its market presence. Other notable funding activities include UAE-based gametech platform PlaysOut raising $7 million, ClearGrid receiving $10 million for fintech developments, and ORO Labs securing $1.5 million to enhance its tokenised gold platform. Additionally, Grinta, a pharma marketplace startup, acquired Citi Clinic, while Yango Ventures formed a $20 million corporate venture fund targeting early-stage startups.

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

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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.

MENA Digest: Egyptian startups lead funding activity

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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: Saudi Arabia's Mush Social, UAE's Brand IO raise early-stage funds

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VCCircle · 9m ago

This week in the MENA region, early-stage venture capital deals were prominent in startup investment activity. Saudi Arabian social media startup Mush Social and UAE-based branding startup Brand IO raised pre-seed and seed funding respectively. Proptech company Ayen based in Saudi Arabia also announced an acquisition.

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.

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.

MENA Digest: Tunisian startup Kumulus Water, Qatar’s ShipBee secure funding

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VCCircle · 2m ago

MENA Digest: Tunisian startup Kumulus Water, Qatar’s ShipBee secure funding

In a quiet week for deals in the MENA region, two startups secured funding. Tunisian water-tech startup Kumulus Water raised $3.5 million in seed funding to scale its technology converting air into drinking water and expand into new markets. Qatar-based logistics startup ShipBee raised $235,000 in pre-seed funding to enhance their AI-backed logistics platform, further developing their digital marketplace and extending their regional reach. Both startups anticipate growth and expansion with the secured funds.

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

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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: Two Egyptian startups snag funding; Riyadh's Blend raises pre-seed round

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VCCircle · 1y ago

MENA Digest: Two Egyptian startups snag funding; Riyadh's Blend raises pre-seed round

Egyptian fintech startups, Lucky ONE and Qardy, have attracted early-stage funding in the MENA region. Meanwhile, Riyadh-based Blend, a restaurant-focused software-as-a-service platform, has successfully raised a pre-seed round. Funding activity in the region has decreased, with notable deals including Oman-based climatetech company 44.01 securing investment.

MENA Digest: Salla gets $130 mn in pre-IPO funding; Arcapita raises $500-mn fund

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VCCircle · 1y ago

MENA Digest: Salla gets $130 mn in pre-IPO funding; Arcapita raises $500-mn fund

Saudi software startup Salla has raised $130 million in a pre-IPO funding round led by Investcorp, Sanabil Investments, and STV. This surge in dealmaking activity showcases the growing investment interest in the Middle East and North Africa (MENA) region. Additionally, Arcapita has successfully closed a $500 million fund, further highlighting the region as an attractive market for investors.

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