The Doha-based E-commerce startup, Snoonu raises $5 million in a Series A funding round this week and that’s not all. The round was led by a mutual strategic partner of the startup, QDB or Qatar Development Bank along with several other investors.
Snoonu was founded by Hamad Al Hajri back...
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,...
Retalio, the popular Saudi-based B2B E-trade commercial center startup has raised a $6.7M seed venture round very recently making them the biggest seed round speculation on record for a Saudi startup and that’s not all. The startup was led by Shorooq Partners and Abercross Holdings, and with the interest...
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...
A platform for esports and gaming, SaudiGamer.com, has been acquired by Webedia Esports Agency, an international gaming experts via Webedia Arabia Group –it’s local arm (based in UAE, KSA, and Lebanon).
The involvement of Webedia Arabia Group will consolidate SaudiGamer.com and her social channels to firmly establish it as the...
Egypt-based Contactcars, the lead automotive marketplace has announced their acquisition of Sa4ar Technology Solutions which is known for providing car valuation technology and a dealer-specific auction platform.
Contactcars.com is a subsidiary of Contact Financial Holing and they’ve been constantly evolving and looking for new opportunities to arise which will provide...
Cairo-based furniture eCommerce commercial center Homzmart has brought $15 million up in a Series A drove by MSA Capital and Nuwa Capital, it reported in an articulation today. The round additionally incorporated the interest of the Rise Capital, Impact46, EQ2 Ventures, and Outliers Venture Capital. It had recently brought...
Raqamyah, a Riyadh-based crowdlending platform has raised about $2.3M in just one investment deal. They announced that the investment round was managed and led by Impact46 later that day. There were other investors included such as Mad’s investment, Al Yusr and Fadeed Investment. Another round of participation was made...
Amazon’s payment processing service in the MENA region, Amazon Payment Services has announced some changes about waiving all fees for the new businesses. Their aim is to benefit from the services that come with it in Egypt. Amazon Payment Services will postpone their services on accounts and support fees...
Despite a significant decline in funding in 2023, Middle Eastern fintech companies demonstrated remarkable resilience; Navigating challenges such as high-interest rates and geopolitical uncertainties, these fintechs are leveraging innovative technologies and pursuing expansion strategies. According to KPMG, fintech funding in Europe, the Middle East, and Africa dropped to its...
