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…

Kuwait-born and UAE-based q-commerce and foodtech Talabat has completed the acquisition of 100% of instashop from Delivery Hero SE for $32 million.  With this acquisition, instashop becomes a wholly owned subsidiary of talabat, strengthening its grocery and retail offering and expanding its partner network across the MENA region. Instashop will continue to operate as an…

Press release: LoftyInc Capital Management has secured a $43 million first close for its new LoftyInc Alpha Fund, a late-seed investment vehicle aimed at scaling Africa’s most promising tech startups, particularly in Nigeria, Egypt, Kenya, and Francophone Africa. LoftyInc is one of Africa’s most established venture capital firms. With over a decade of investing experience, the…

Press release: Capital Haus, a UAE-based financial concierge firm specialising in tailored wealth management for high-net-worth individuals (HNWIs) and corporate investors, has acquired an 11.6% strategic stake in Equity Story Group Ltd (ASX: EQS). This investment marks a pivotal moment for Capital Haus, propelling the firm’s total assets under management (AUM) beyond $1 billion and…

UAE-based investment firm Foras has acquired a 36% stake in Beban, a Bahrain-based crowdfunding platform, for an undisclosed value. This strategic investment aims to foster the growth of startups and enhance access to capital for entrepreneurs throughout the region. Founded in 2022, Baban is a subsidiary of Hope Ventures and is licensed by the Central Bank of…

UAE-based AI-powered content platform FanTV has raised $3 million in a Series A investment round from Mysten Labs, Cypher Capital, CoinSwitch Ventures and Illuminati Capital. Founded in 2022 by Prashan Agarwal, FanTV is a Web 3.0 content platform that enables creators to upload and create content and earn through views.  The new funding will support FanTV's efforts to boost…

Press release: SC Ventures, Standard Chartered’s innovation, fintech investment and ventures arm, has signed a Memorandum of Understanding (MoU) with Visa, a world leader in digital payments, to develop solutions aimed at supporting small and medium-sized enterprises (SMEs) across the Middle East and North Africa (MENA) region. A signing ceremony was held recently at the…

UAE-based fintech BILRS has raised an undisclosed funding round from Salica Spring Studios, which is backed by Al-Waha Fund of Funds. Founded in 2022 by Rupert Shaw, BILRS provides international bill payment solutions, mobile top-ups, and gift cards, enabling seamless cross-border transactions in the B2B space. Through this investment, BILRS will be able to scale its operations,…

Press release: A Ventures, a leading investment and portfolio management firm led by Sherif Ramadan (CEO) and Ayman Abbas (Chairman), has reinforced its commitment to Mrkoon, a pioneering digital marketplace for scrap and surplus materials, by following up its initial pre-seed investment with a new bridge round. This latest investment underscores A Ventures’ confidence in…