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Egypt’s Sahl closes dual rounds at $6 million

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…

ByPooja SatishJune 29, 20240Comments

News

Waves closes investment round co-led by BNK Capital, Aujan Enterprises

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…

ByPooja SatishJune 29, 20240Comments

News

qeen.ai closes $2.2 million pre-Seed led by Wamda Capital

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…

ByPooja SatishJune 29, 20240Comments

News

Tawaref Series: A comprehensive guide to licensing and document attestation

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…

ByPooja SatishJune 29, 20240Comments

News

Tumodo joins forces with Tabby to facilitate travel management practices

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…

ByPooja SatishJune 29, 20240Comments

News

Elevate to increase MENA presence after securing $5 million pre-Series A

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.…

ByPooja SatishJune 29, 20240Comments

Apply now: TiE Women MENA Programme 2024

TiE Dubai is launching the 5th edition of the TiE Women MENA Programme. This programme aims to embrace, engage and empower women entrepreneurs across the MENA region– irrespective of the size of the enterprises, origin, standing or background. Eligibility Criteria Female-founded or co-founded startups ONLY. (The opportunity to pitch will only be provided to the…

ByPooja SatishJune 29, 20240Comments

Investments News

Comfi secures $5 million debt facility to expedite BNPL plans

UAE-based fintech Comfi has secured a $5 million debt facility from an undisclosed Abu Dhabi-based private family office. Founded in 2023 by Alisher Akbarov, Amal Abdullaev, Sanjar Samiev and Sanjar Samiev, Comfi is a B2B payments platform that empowers manufacturers and suppliers with flexible payment solutions for their buyers, while ensuring upfront payments. This debt…

ByPooja SatishJune 29, 20240Comments

Investments News

Iraq’s Alsaree3 Closes 7-figure Series A round

Iraq-based food delivery app Alsaree3 has raised a seven-figure Series A funding round, from investors including Iraq Venture Partners (IVP), Euphrates Ventures, and Snoonu. Founded in 2018 by Bassam Al-Ateia, Alsaree3 offers restaurants a user-friendly platform that makes food ordering and delivery seamless and accessible. This new funding round will enable Alsaree3 to accelerate its…

ByPooja SatishJune 29, 20240Comments

Investments News

Connect Money raises $8 million Seed round

Egypt-based fintech Connect Money has closed its Seed funding round of $8 million led by Disruptech Ventures and Algebra Ventures. Founded in 2024 by Ayman Essawy, Marwan Kenawy and Momtaz Moussa, Connect Money offers a white-label card issuing platform that enables businesses to provide their customers with debit and credit cards without the need to…

ByPooja SatishJune 29, 20240Comments

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