Elevate, a London and Dubai-based fintech, has raised $5 million in a pre-series A investment round, according to the company's statement, which does not name the investors. Founded in 2021 by Faris Keenan, Khalid Keenan and Youcef Oudjidane, Elevate offers financial solutions for remote workers and freelancers in emerging markets to better manage their finances.…

Our previous article provided a comprehensive overview of the diverse types of foreign investment licenses available in Saudi Arabia. Now that investors have identified the specific license best suited for their business activities, the next logical step is understanding requirements and attestation. Before any foreign investment license is granted, a series of prerequisites must be…

Kuwait-based traveltech Waves has closed an investment round for an unknown amount, co-led by BNK Capital and Aujan Enterprises. Founded in 2021 by Abdulrahman Al-Sadoun and Sulaiman Altunaib, Waves is an online marketplace for booking sea trips, marine activities and chalets with operationsl in Kuwait, Kingdom of Saudi Arabia, Qatar, and United Arab Emirates. Waves intends…

Qatar-based VC firm Rasmal Ventures LLC has launched its first home-grown fund to drive innovation and investment in Qatar and the MENA region. Rasmal Innovation Fund I LLC targets high-performance startups and scales up across a variety of innovative technology sectors, including climatetech, fintech, B2B SaaS and AI. For the initial closing, the fund has…

Users of the Egyptian-founded investment platform traded $1.8 billion in 2023 alone. Thndr, an Egypt-based mobile-first investment platform, has announced its entry into the UAE market. Enabled…

An articke by Stan Klyuy, a Chief Commercial Officer at Tumodo, an online business travel platform. In 2024, the digital transformation of business travel has become our reality, with artficial intelligence (AI) leading the charge in travel management programs, making it more straightforward and efficient. This surge in AI adoption is part of a global trend,…

Innovative Media Productions, the powerhouse behind Shark Tank Egypt, will provide valuable industry expertise to TPP. The Potcast Productions (TPP) has closed a pre-seed funding round following…

UAE-based contech Tenderd has closed a $30 million Series A funding round, led by A.P. Moller Holding, along with new investors, including Quadri Ventures and Saurya Prakash, and existing investors, including Wa’ed Ventures, Nakhla Ventures, SOMA Capital, and Liquid 2 Ventures. Founded in 2018 by Arjun Mohan, Tenderd provides customers with AI-generated insights to increase…

The new brokerage will allow Mal Bazaar to further expand its offerings in Egypt, the Middle East and Africa. Egyptian insurtech startup Mal Bazaar has acquired a…