UAE-based fintech Flow48 has closed a $69 million Series A funding round in a mix of debt and equity. The round is led by Breega and has seen further investments from 212, Speedinvest, Daphni, Endeavor Catalyst, Evolution Ventures, and Plus VC, among others. Founded in 2022 by Idriss Al Rifai, Flow48 provides upfront financing to…

UK-based automotive intelligence platform Pinewood.AI has agreed to acquire Seez for $46.2 million in cash and shares. The share component is expected to grow over the following three years. Founded in the UAE in 2016 by Tarek Kabrit and Andrew Kabrit, Seez is an autotech company that provides car dealerships and OEMs with software solutions…

Lola, a Bahrain-based foodtech, has raised $1.3 million in a pre-seed funding round from Plus VC, Vision Ventures, and angel investors. Founded in 2023 by Othman  Janahi, Lola offers a customisable cake ordering service for customers in Bahrain and Saudi Arabia. This investment will fuel Lola’s expansion efforts in Saudi Arabia and the wider GCC…

omnispay, a UAE-based fintech, has raised $1.5 million in a seed funding round led by Mercatus Capital Pte. Ltd., with participation from regional and international investors.  Founded in 2022 by Simanta Das, Vimal Kumar and Praveen Kiran, omnispay simplifies SME cash flow management through its all-in-one collect, pay, and borrow platform. omnispay claims to have…

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…