UAE-based open banking platform Tarabut has acquired the London-based fintech Vyne. This acquisition bolsters Tarabut’s ability to deliver faster, more accessible, and more interconnected financial services, both across the region and globally.  Founded in Bahrain in 2019 by Abdulla Almoayed, Tarabut connects a regional network of banks and fintechs via a universal application programming interface…

Offering unique benefits not available in traditional licence tracks, the entrepreneurship licence is a one-of-a-kind opportunity designed to foster innovation and support startups. Entrepreneurs who are granted this licence gain access to reduced licensing fees, premium residency eligibility, and entry into one of the top business ecosystems of the world. Once you secure this licence,…

Tunisia-based cleantech Wattnow has closed a multi-million dollar funding round, led by Lateral Frontiers and 216 Capital. The round also features Outlierz Ventures, Satgana, Octerra Capital, and a group of strategic angel investors, including InstaDeep founder Karim Beguir and Guillaume Amblard. Founded in 2018 by Issam Smaali, Wattnow helps companies take control of their energy…

Saudi Arabia-based SaaS provider Reachware has raised $3 million in Seed funding, led by Sadu Capital, with participation from 500 Sanabil Investments and Elm Company. Founded in 2021 by Hamza Abusitta and Maysarah Mashaal, Reachware offers businesses a range of services, including system integration, process automation, and advanced analytics. The company plans to use the…

Saudi Arabia-based autotech Syarah has raised $60 million in a Series C round, led by Artal Capital, with participation from Elm, Impact46, Tawuniya, and Derayah Ventures, bringing the total investment to date to more than $82 million. Founded in 2015 by Salah Sharef and Fayez Al-Anazi, Syarah allows its consumers to buy new cars online…

Saudi Arabia-based healthtech Thakaa Med has secured a Seed round investment through Falak Angels syndicate.  Founded in 2022 by Alwaleed Albadr, ThakaaMed specialises in AI-driven healthcare solutions, focussing on transforming care through advanced predictive, preventive, and personalised technologies. This capital will be used to accelerate the enhancement of Thakaa Med’s AI models and support the…

UAE-based e-commerce platform Powder Beauty has closed its pre-Series A funding round at an undisclosed value, led by Sophia Collective and NKEHL, Nithin and Nikhil Kamath. The round saw participation from several regional angel investors, including Maha Taibah. The female-led startup, founded in 2018 by Ayat Toufeeq, Amina Grimen, and Marriam Mossall, Powder Beauty offers…

Egypt-based think tank Entlaq has launched the results of its bi-annual report on the Egyptian entrepreneurship sector for the first half of 2024. Founded in 2022 by Mohamed Ehab, Omar Rezk, Menna Zaghloul and Aya Ismail, Entlaq is dedicated to reshaping Egypt’s entrepreneurial landscape through advisory and capacity-building programmes. The report reflects the state of…

A coalition of investors and GCC-based family offices have launched “Waad Investment," an investment firm with a targeted value of $200 million, led by investor Yaser AlGhamdi in collaboration with the AlMajed and AlMisfer family offices. Waad Investment aims to invest in growth-stage startups in the region, as well as offering a network of connections, mentorship,…

Saudi Arabia’s national enabler of the tourism sector, the Tourism Development Fund (TDF), has celebrated the first cohort of the "TDF Grow Accelerator" programme in KAFD Conference Centre in Riyadh. The demo day witnessed the graduation of 15 startups working in the tourism space, including 11 local startups and four regional and international projects, which…