Egypt-based loyalty and rewards solutions provider Dsquares has acquired a majority stake in the Egyptian B2B SaaS loyalty platform Prepit for an unknown value. Founded in 2012 by Ayman Essawy, Marwan Kenawy and Momtaz Moussa, Dsquares is a B2B loyalty solutions provider that specialises in creating tailored loyalty solutions for industries including banking, telecom, FMCGs, and retail. Prepit, founded in 2022 by Karim Hussein…

Saudi Arabia-based e-services platform Nabeeh has raised an undisclosed investment from Ibtikar Fund. Founded in Palestine in 2021 by Saber Samara and Fawaz Samara, Nabeeh is an online platform that allows users to book housekeeping, cleaning services, maintenance, repairs, and renovation services. With this funding round, Nabeeh aims to double its user base, expand its…

Saudi Arabia-based fintech Ebana has secured $2.66 million in a pre-Series A funding round, led by Esnad Legal Consulting and Business Governance.  Founded in 2020 by Ali Alshareef, Ebana provides integrated digital services and technical infrastructure to support corporate governance affairs. The funding will enhance Ebana’s investor relations tools, expand its fintech solutions, and strengthen…

Saudi Arabia-based fintech Lendo has secured a $690 million warehouse facility led by J.P. Morgan.  Founded in 2019 by Osama Alraee and Mohamed Jawabri, Lendo is a crowdlending marketplace that connects qualified businesses seeking financing with investors seeking short-term returns. J.P. Morgan’s facility will be deployed to increase Lendo's lending capacity, introduce more innovative products,…

Egypt-based CNC machine manufacturer Simplex has raised $13 million, led by Saudi Arabia's National Industrial Development Centre. Founded in 2013 by Ahmed Shaaban, Mohamed Mansour and Amr Mahmoud, Simplex offers industrial solutions to a wide variety of regional manufacturers spanning a number of industries. Simplex will use the fund to found a factory dedicated to…

Press release: Maalexi, a U.S.-headquartered dynamic risk management platform helping SME agribusinesses mitigate operational risks, announces it has secured a $3 million debt finance facility from Citi, one of the world’s largest banking institutions. The strategic facility supports Maalexi with its mission to strengthen global food security by simplifying cross-border agri-trade conducted on its cutting-edge,…

Saudi Arabia-based edtech UpLevel has raised an undisclosed pre-Seed funding round from a group of angel investors. Founded in 2024 by Idris Alshayea and Hamad AlLuhaidan, UpLevel helps companies improve employee performance by connecting them with a network of experienced professional coaches. Press release: The Saudi edtech startup UpLevel has raised an undisclosed pre-Seed funding…

UAE-based proptech Silkhaus has closed a seven-figure growth round, led by Nuwa Capital and Oraseya Capital, with participation from Impulse International, Yuj Ventures, Nordstar, and other family offices. Founded in 2021 by Aahan Bhojani, Silkhaus offers a marketplace for short-term rentals across the UAE. The new funding will fuel Silkhaus’s expansion in Saudi Arabia, where…

Egypt-based logistics startup Fincart.io has raised a pre-Seed funding round  for an undisclosed amount, led by Plus VC and joined by Plug and Play, Orbit Startups, Jedar Capital, and other regional investors. Founded in 2023 by Mostafa Elmasry and Nihal Ali, Fincart provides online retailers with access to a marketplace of delivery providers and an…

Despite a funding decline, the Middle East and North Africa (MENA) startup ecosystem showed resilience, with rising deal volumes and sectoral diversity, as MENA startups recorded $2.3 billion in investments in 2024, a 42% year-on-year (YoY) decline. However, excluding debt financing, the decline is just 11%. Despite the drop in value, the ecosystem saw growth in…