Egypt-based fintech Basata has increased its stake in Jordan’s MadfoatCom to 25%.  This acquisition will further strengthen Basata’s role in accelerating digital financial inclusion across the region and enhancing the digital payments infrastructure in Jordan.  Founded in 2009 after the merger between Masary and Bee, BASATA (formerly known as Ebtikar) is an e-payment platform specialised…

Libya-based B2B e-commerce platform Alkremeya has officially launched operations,  with ambitious plans for regional expansion.  Founded in 2023 by Abdurrahman Ejdier and Fasih Ullah Ghafoor, Alkremeya connects retailers directly with importers and wholesalers, providing real-time access to updated product listings. Alkremeya plans to invest in artificial intelligence and machine learning to further refine its predictive…

UAE-based SaaS provider Journify has secured $4 million in funding, led by Silicon Badia, with participation from RZM and other investors. Founded in 2023 by Taoufik El Jamali and Amine Chouki, Journify allows its clients to unlock the full potential of their customer data. This investment fuels Journify’s plan to expand its customer base. Press…

UAE-based self-storage services provider The Box has raised $12.5 million in a debt financing led by Shorooq.  Founded in 2007 by Wadih Haddad, The Box provides personal storage and record management facilities, as well as moving services.  The new funding will allow The Box to expand and develop new flagship storage facilities. Press release: Shorooq,…

UAE-based online classifieds platform Dubizzle Group has acquired the Egyptian online car marketplace, Hatla2ee, in an undisclosed deal value.  With this acquisition, Dubizzle Group integrates its advanced technology and resources into Hatla2ee’s already trusted platform. Established in 2016 by Samy Swellam, Hatla2ee is an online platform where users can buy and sell new and used…

Tunisia-based P2P fashion marketplace Dabchy has raised a pre-Series A funding round led by Janngo Capital and angel investors for an undisclosed value. Founded in 2016 by Ameni Mansouri, Ghazi Ketata and Oussama Mahjoub, Dabchy is an e-commerce marketplace for second-hand fashion. The startup plans to use the investment to expand into new markets, including…

In a move that underscores a steadfast commitment to fostering an innovation-driven investment landscape in Saudi Arabia, Falak Investment Hub, in collaboration with Bayan Platform, proudly announces the release of its latest report: "Venture Investing in Artificial Intelligence: Roadmap for Investors and Entrepreneurs in Saudi Arabia." This comprehensive report delves into AI’s pivotal role in…

UAE-based fintech Blum raised $5 million in a pre-seed and seed round.  The round was led by gumi Cryptos Capital, Spartan, No Limit Holdings, YZi labs and OKX Ventures. Founded in 2024 by Gleb Kostarev and Vladimir Smerkis, Blum is a decentralised exchange, offering universal token access through gamification within a Telegram mini-app. With the…

Tawaref, a leading Saudi-based shared services company, and Thanawi, a pioneering digital platform, are pleased to announce the signing of a Memorandum of Understanding (MoU) at LEAP 2025. This strategic partnership aims to advance the entrepreneurship sector and support digital transformation in startup transactions, creating new opportunities for investors and entrepreneurs.Through this collaboration, Tawaref and…

Egypt-based B2B SaaS startup Qme has raised $3 million in a seed funding round led by AHOY, along with a group of angel investors from the GCC. Founded in 2022 by Maged Negm, Qme is an AI-based digital infrastructure integrating booking, queuing, analytics, and payment solutions. The new funding will allow Qme to enhance its technology stack, expand its…