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UAE-based VC firm Phoenix Venture Partners has announced the first close of its $50 million Phoenix Venture Partners Innovation Fund CEIC (PVPIF) with commitments from family offices and high-net-worth individuals. The fund aims to invest in early-stage startups in MENA across fintech, healthtech, edtech, agri-foodtech, logistics and mobility, sustainability, and consumer tech.  Press release: Phoenix Venture Partners ("PVP") announced on 19 February…

Zawya PayTabs Group has acquired a 51% stake in PayTabs Egypt from EFG Finance, an EFG Holding company, according to a recent press release The transaction aligns with the group’s long-term strategy to bolster digital transformation and financial inclusion across Egypt. Through this acquisition, PayTabs will foster its position in Egypt and beyond, creating more…

UAE-based wellness company Longetivy Wellness Hub has raised $4 million in funding from undisclosed investors. Founded in 2019 by Dani Afiouni, Longetivy offers alternative wellness solutions, such as hyperbaric oxygen therapy, red light therapy, and advanced quantum-based treatments. The platform will use the fresh funding to enhance GCC expansion plans. Press release: Longevity Wellness Hub has secured $4…

An article by Mohamad Salah Khouzam, COO of the Kuwaiti online classifieds platform, 4Sale For over 30 years, while living in Kuwait and working with international clients looking to do business in the country, I've often been asked about the key to success in sales, and more recently, specifically in the classifieds industry. Though I’m not inclined to…

Saudi Arabia-based e-commerce platform Aya has closed a $1.6 million seed funding round, led by Khwarizmi Ventures, with participation from Raed Ventures, Joa Capital, FENA Holdings, Turki Alrajhi, and a group of angel investors. Founded in 2024 by Munira Al Kadi and Abdulrahman Al Ammar, Aya forecasts fashion trends and links local producers with current…

UAE-based fintech KLAIM has raised $10 million in a Series A equity funding round led by Mad’a Investments and joined by CDG Invest and an additional $16 million through Tharawat Tuwaiq Financial Company. Founded in 2019 by Karim Dakki and Ghafoor Ahmad, KLAIM is a fintech dedicated to aiding healthcare SMEs by providing them with…

Press release: The Saudi proptech startup Ajras has successfully raised a $1.5 million pre-Series A funding round, led by Veda Holding. Founded in 2022 by Muath Aljubailan, Ajras provides unique financing solutions to facilitate rent payments. The startup focuses on commercial and industrial sectors and is licensed by the General Authority for Real Estate. Additionally, it has recently…

Kuwait-based autotech/fintech startup Motery has raised a seed funding round for an undisclosed value at an $8 million valuation. Founded in 2029 by Mohammad Al Abdulsalam and Abdulla Al Ateeqi, Motery simplifies the car-buying journey by providing customers with the ability to purchase vehicles online while offering flexible financing solutions tailored to their needs. This investment will empower Motery to…

Morocco-based superapp ORA Technologies has closed a $1.9 million Pre-Series A funding round led by Witamax & Azur Innovation Fund.  Founded in 2023 by Omar Alami, ORA app offers multiple features, including P2P transactions, an e-commerce platform, on-demand services, chat functionality, social networking, and a digital wallet to be launched soon. This investment will fuel…