Saudi Arabia-based fintech Hakbah has secured a pre-Series A funding round worth $2 million funded by Global Ventures and Aditum Investment Management. The startup plans to use the funds to develop its platform, improve the user journey, and advance its savings engine algorithm. Established in 2018 by Dimitar Kazakov and

Unifonic, a communication platform and CPaaS provider, has entered a partnership with InspireU, stc first corporate accelerator to support and develop digital startups and entrepreneurs in Saudi Arabia. The partnership targets early-stage startups in industries including financial technology, cybersecurity, artificial intelligence, digital games, The Internet of Things, blockchain, and other

Turkish AI translation and dubbing startup, Ollang has closed a seed funding round worth USD 1.5 million from investors including Revo Capital, JIMCO and  Dubai Angel Investors. Other investors who participated in the round are Koray Bahar from Joint Venture, Ahu Serter from Arya Melek Angel Investment and Orkun

UAE-based tech giant and investment group, e& formerly known as Etisalat has invested $400 million in the Super App of ride-hailing startup Careem. This investment makes e& the major shareholder by acquiring a 50.03 per cent stake in the Super App. Regardless of the new deal,  Careem which is

Singapore VC firm Scalo Technologies plans to invest a total of $100 million in growing startups in the MENA region for three to five to five years, according to a press release by the company With this aim, Scalo Technologies has moved its headquarters to Dubai, UAE to identify startups

Israel-based AI optimization startup, Redefine.dev has secured an amount of $8.5 seed round to accelerate the growth of the platform as well as recruit more personnel on board. The round was spearheaded by Gillot Capital and industry leaders including, founders of Espagon, Nitzan Shapira and Ran Ribenzaft, (Head

UAE-based recruitment startup, RemotePass has rolled out a new physical debit card that would facilitate payments for remote workers. The new service will enable remote workers who are active on RemotePass to receive instant payments at no cost while eliminating delays involved with international transfers. Co-founder and CEO of RemotePass,

An Israeli-based startup, Entrio, has secured funding of $7.5 million to grow its IT asset management platform. The funding round was led by Communitas Capital Partners. Other investors that supported the funding round are BNY Mellon, Vintage Investment Partners, and Alicorn Venture Partners. This new investment will support Entrio

Egyptian VC firm Acasia Ventures has participated in the $1 million Seed round secured by the Lagos-based last-mile delivery platform Fez Delivery. The investment round was led by Nigeria’s discovery fund Ventures Platform, however, the amount Acasia invested was undisclosed. Acasia Ventures General Partner, Biola Alabi said, “Fez has

Tkyr, a Saudi digital platform for food delivery, raised a US$ 4 million fund in a Pre-Series A round led by a Saudi food company,  Food Square. Other investors participating in the round include; Ittihad Al-Khalidiyah, Haif, and Mateen Food. Founded in 2021, Tkyr provides an application that connects customers

The Turkey-based ride-hailing startup, Volt Lines has closed its carve-out round, with a 30 percent oversubscription, after separating from SWVL in January. The round will help Volt Lines to achieve its short-term objective of attaining positive free cash flow by the end of 2023. Founder and CEO,  Ali Halabi said,

Bahrain-based property technology startup, Estater has secured a $5 million Series A round from undisclosed investors from Saudi Arabia and Bahrain. Estater plans to use the new funds to develop its product, grow its internal team and enhance its technology infrastructure to attract new customers. Co-founder from Kuwait, Mahmoud AlJarrah

UAE-based fintech Credable has secured a $2.5 million seed round led by Ventures Platform and Egypt-based VC firm, Acasia Ventures formerly Cairo Angels. The startup will use the funds to launch Credable’s product pipeline across Tanzania, Uganda, and Kenya, grow its team as well as scale the company’

Morocco-based e-commerce startup Chari has rolled out a new chain of B2B stores to meet the demands of local grocery stores. The startup has already opened its first two stores on March 16, in Casablanca and el Jadida, Morocco, and plans of opening 100 stores by 2024. Co-founder of Chari,

The Saudi Venture Capital (SVC) in collaboration with Capital Market Authority has unveiled ‘Investment in Fintech VC Funds’ to raise funds for startups. The funds will be used to stimulate and sustain financing for startups and SMEs from pre-Seed to pre-IPO by investing $1.6 billion through investment in funds

Saudi Arabia-based healthcare technology startup, Aumet has acquired a $7 million pre-Series A funding round. The round came from Tokyo-based healthcare-focused venture capital, AAIC, the Swiss PE firm AIJ Holdings, Hamad Ali Sagri family office, Tijah Holdings, Cigalah Group, and existing investor Shorooq Partners. The startup will use the funds

Saudi Arabia-based fintech Tamara has closed a $150 million debt financing round from Goldman Sachs, making the startup’s total funding in equity and debt $366 million. The fresh funds will enable Tamara to finance the demand for its flagship Buy Now Pay Later (BNPL) product and continue its growth

Egyptian e-commerce precious metal platform, Mngm has entered a partnership with a fintech startup, Fawry to facilitate payments of Mngm’s customers. The partnership allows Mngm users to credit their cash balance by depositing cash into any of the FawryPlus stores or any Fawry POS machines, using only their registered

Egyptian online video learning platform in Arabic, Almentor has acquired $10 million in growth capital in a pre-series C round led by e& capital. In this round, the tech investment VC, e& capital joined existing investors Partech, Sawari Ventures, Egypt Ventures, Sango Capital, and Endure Capital. Almentor will use the

Sav, a FinTech startup has secured an amount of  $750,000 in a pre-seed funding round. The funding round was led by prominent angel investors and FinTech leaders in the MENA region. Speaking on the issue, the CEO of Sav, Purvi Munot, said, “We are thrilled to have the support

UAE-based online coffee marketplace, Cofe has acquired $15 million in a Series B funding round led by Wa’ed Ventures. Other investors that participated in the round include eWTP Arabia Capital, Al Imtiaz Investment Group, KISP Ventures (KFH Capital), and Rasameel Investment Company. According to the startup, the new funding

Labayh, Saudi Arabian health tech who specializes in mental health has purchased the Dhabi-based meditation app Nafas for an undisclosed amount. According to a statement from Labayh, the acquisition deal aligns with its strategy to create a unique experience for the customer and to enhance the psychological well-being of people

Seed investor and accelerator Flat6Labs has rolled out a new $95 million Africa Seed Fund (ASF) to grow and develop early-stage tech startups in Africa. with the support of the GIZ and as part of the Egyptian Agricultural Innovation Project (AIP) and Scaling Digital Agricultural Innovations through Startups project (SAIS)

World’s largest domain name provider, GoDaddy collaborates with Saudi Arabia’s Monsha’at to empower SME’s GoDaddy, the world’s largest domain name registrar and Web hosting provider has collaborated with the General Authority for Small and Medium Enterprises (Monsha’at) to empower SMEs and young entrepreneurs to

Arabian’s largest NFT marketplace, UPYO has entered into a new partnership with e-learning platform Classera to support smart education. The aim of the partnership is to provide more technological solutions for Classera in terms of education through blockchain technology, adopted by UPYO. This deal will enable Classera to benefit