Egyptian Venture Capital (VC) firm DisrupTech has raised $5 million from Francophone company Proparco to support the growth in Egypt’s fintech sector. The investment will provide seed capital to 28 start-ups offering financial technology services. Launched in 2021, DisrupTech backs early-stage Fintech and Fintech-enabled digital services startups in Egypt.

Egypt-based fintech startup, Balad has secured a seven-figure pre-Seed round led by Egyptian venture capital, Acasia Ventures. Other investors that participated in the round include; Launch Africa, Future Africa, V&R, Magic Fund, First Circle, Sunny Side, and other family offices. The fintech plans to use the investment to roll

Technology has advanced significantly over the last several decades, notably with the rise of the internet and mobile devices. This has increased in the establishment of Fintech and other tech firms. These tech firms through their innovations produce novel goods and services. Globally, tech startups and the venture capital ecosystem

Egyptian mobility startup Helpoo has received undisclosed funding from its counterpart Saudi Arabian mobility solutions company, Morni. The deal was processed by a leading investment provider as well as a mergers and acquisition (M&A) advisory firm, ExitsMENA. Helpoo will leverage on the investment to strengthen its market footprint, expand

Payment24, a technology firm with its headquarters in South Africa, has expanded into the North American and European markets as it continues to pursue its growth objectives. Payment24, a worldwide platform provider based in Cape Town that specializes in payment and loyalty solutions, today announced its entrance into the two

A smartphone-based version of ChatGPT called MobileGPT, has been developed by local software development company Tati Software. The software uses OpenAI’s technology to give WhatsApp users access to the chatbot’s artificial intelligence (AI) tools. According to Tati Software, the AI-powered chatbot gives WhatsApp users access to key features

Local fintech startups are invited to take part in this year’s Sub-Saharan Africa edition of the Visa Everywhere Initiative (VEI) by the payments company Visa. Start-ups are required to improve their own product offerings while also finding solutions to payments and commerce problems as part of the global innovation

As the days go by, more startups spring up but males make up the majority of founders. Historically, the Middle East and North Africa (MENA) region is a unique society, dominated by men in almost all sectors of life including business. A decade review between 2010 to 2020 from UNICEF

From Snoonu securing Series B funding in MENA to WI-Flix launching in Zambia and many more, here are the stories reported and analyzed by The Ouut this week. Dive into our Highlights of News Features and Interviews this week. East Africa • News/Analysis AN NISA, KENYA’S WOMEN-ONLY TAXI SERVICE

UAE-based e-commerce startup SQUATWOLF, has received $30 million in investment from ASCA Capital Limited. The terms of the investment will see ASCA invest up to $30 million over time with a significant proportion being invested in the first 12 months to support its expansion plans. The fresh investment will help

Zimbabwe is on the path of iterating its financial system as Old Mutual launches a Fintech business, Old Mutual Digital Services (OMDS). As one of the financial giants in Africa, Old Mutual decided to claim more territories to expand its scope of operation. Old Mutual Digital Services promises to provide

Qatar-based super app Snoonu, has secured $12 million in a Series B round which is the first startup to raise such a round in the country. The round was spearheaded by the Qatar Development Bank and saw participation from undisclosed investors. Founded in 2019, Snoonu is Qatar’s first super

UAE open banking platform, Tarabut Gateway has raised $32 Million in Series A funding to expand and recruit talents in Saudi Arabia. The funding round was led by Saudi-focused investment firm Pinnacle Capital while Aljazira Capital, Visa, Tiger Global and other existing investors participated in the round. Tarabut will use

The acquisition of start-ups can provide the new business with a technological boost that gives it a competitive edge. The fact that this deal benefits both the company and the acquirer is a win-win. Acquirees have access to a larger pool of markets, resources, cash, and a very handsome payout

French fashion designer Gabrielle “Coco” Chanel once said, “Fashion is not something that exists in dresses only. Fashion is in the sky, in the street, fashion has to do with ideas, the way we live, what is happening.” The fashion industry is a rapidly growing sector across the globe and

Entertainment in Zambia just got a facelift as Wi-flix in collaboration with MTN launched its streaming service in the country. This initiative promises to provide over 30,000 hours of entertainment to its Zambian audience. Wi-flix is a global streaming service, with its headquarters in the Netherlands. So far, it

African start-ups take the spotlight as they emerged as the winners in this year’s Milken-Motsepe agritech competition. This is the flagship of the agritech competition held by The Patrice Motsepe Foundation and the US-based Milken Institute. The alliance between these two organizations is geared towards the use of advanced