It was announced today that the well-known Saudi Company Tamer Group is to acquire Mumzworld. The group has interests in healthcare, beauty, and FMCG products and Mumzworld is the leading eCommerce platform in the region for mother, baby, and child products. Although they didn’t announce the details on the...
Egypt’s popular and leading VC firm, Algebra Ventures announced today on launching their second fund of around $90M. The fund was specifically dedicated to startups with the main goal to allocate their firm in the MEA region. They are currently aiming at first closing in 2021 on Q3.
Algebra has...
Only as a side project of the Milken-Motsepe Innovation Prize program, a multi-year procedure to channel enterprising personalities and financial backers towards creating various innovative solutions with a focus on Africa, the agri-tech prize is currently accepting applications. The Milken-Motsepe Prize is a worldwide competitive program for providing solutions...
Despite decreasing funding in the African continent, Nigerian startups succeeded in raising their funding to $160 million in the first Q1. Four countries including Nigeria, Kenya, South Africa, and Egypt accounted for %87 of startup investments during Q1, and the founding breakdown showed, Nigeria is leader with $160 m...
The popular funding firm Nama Ventures from the KSA has declared its launch of another $27M funds that have been raised from high-net-worth financier along with, institutional financial investors and even family workplaces. In spite of the fact that the asset will focus on new businesses in KSA, Nama...
The powers in Saudi Arabia have recently announced they have established a bank for the small and medium enterprises in the country. They made the announcement during the weekly meeting of the cabinet, which is where the elected officials in Saudi Arabia discuss developments on a regional, global, and...
The global payment company Stripe finally executed their expansion in the Middle East and was announced very recently. They’ve officially launched their platform in the UAE with their first office opening in the Dubai Internet City. The private beta of the company was already launched a couple of months...
Snapp group, the popular Iranian ride hailing and online service super app in a surprising change in tactics has for the first time published statistics about it's business and app for the year 2020. The private held company had long kept it's data close to it's chest, disclosing some...
Sakneen, a property tech startup based in Egypt, recently announced that it had raised $1.1 million in a seed round led by Algebra Ventures. Sarwa Capital and Foundation Ventures also contributed significantly to the round. Hem + Spire, a real estate private equity firm based in the United States,...
It was announced today that Stake, the Dubai-based real estate venture platform has brought $4M up in a seed round which was led by Combined Growth Real Estate. A regional family office Vivium Capital, European VC Verve Ventures, Riyadh-based Lama Holding, Saudi private backer Mishaal Alireza, and the investors...
