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…

UAE-based proptech Stake has raised $14 million in a Series A funding round, led by MEVP Middle East Venture Partners (MEVP), along with Aramco's Wa'ed Ventures, Mubadala and Republic. Founded in 2021 by Rami Tabbara, Manar Mahmassani, and Ricardo Brizido, Stake is a digital real estate investment platform providing options for income-generating properties in Dubai.  The…

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…

The Cairo-based fintech Sahl has raised $6 million in Series A and seed funding rounds, led by Ayady for Investment and Development, joining existing investors Egypt Pay, Delta Electronic Systems, and E-Finance. Sahl, founded in 2020 by Ahmed Othman, Ibrahim Assal and Abullah Assal, is a bill payment platform that allows users to recharge prepaid…

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…

UAE-based AI startup qeen.ai has secured a $2.2 million pre-Seed funding round, led by Wamda Capital, with participation from international and regional investors, including 10x Founders, Aditum and Dara Holdings, along with Jabbar Group, Phaze Ventures and Eureka 460. Founded in 2023 by Dina Alsamhan, Ahmad Khwileh and Morteza Ibrahimi, qeen.ai provides accessible and autonomous…

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…

UAE-based traveltech Tumodo has joined forces with Saudi Arabia’s fintech Tabby to stimulate growth in the UAE travel industry. Integration of Tumodo's services into Tabby’s travel management will enable Tabby’s HR team to easily plan and manage business trips. Founded in 2022 by Vladimir Kokorin, Tumodo is a B2B travel platform that helps companies easily…

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.…

UAE's NowMoney closes $4 million equity round News   Edit UAE-based fintech NOW Money has closed a $4 million equity round. The investment completes the second round of funding for the Company since its acquisition led by Mark Nutter and Nicolas Andine in 2023.   Founded in 2015 by Ian Dillon and Katharine…