Last week, there were 5 startup investments in the MENA between March 14 – 20:
Investments:
4 United Arab Emirates (UAE), 1 Tunisia
Sectors Received Investments:
2 Financial Services
1 Gaming
1 Blockchain
1 Legal Tech
News of the Week
🎯 Embedded finance platform NymCard raised $33 million.
NymCard, which provides fintech infrastructure for banks, enterprises, and telecom firms to drive digital finance innovation, has raised $33 million in Series B funding round. The investment round was led by QED Investors, with participation from Shorooq, Mashreq Bank, and other investors.
Transaction Type: Investment
Investors: QED Investors, Shorooq, Mashreq Bank, other investors
Co-founders: Omar Onsi
Headquarters: United Arab Emirates (UAE)
🎯 Fintech startup ClearGrid raised $10 million.
ClearGrid, which offers an AI-powered debt collection resolution for lenders, has raised $10 million in a dual round, pre-Seed and Seed. The pre-Seed round was co-led by Raed Ventures and Beco Capital, and the Seed round was co-led by Nuwa Capital and Raed Ventures. Waed Ventures, KBW Ventures, Sharaka, 9yards Capital, Protagonist, BYLD, Eirad Holdings, Endeavor Catalyst and Wamda Capital also participated in the investment round.
Transaction Type: Investment
Investors: Raed Ventures, Beco Capital, Nuwa Capital, Waed Ventures, KBW Ventures, Sharaka, 9yards Capital, Protagonist, BYLD, Eirad Holdings, Endeavor Catalyst, Wamda Capital
Co-founders: Khalid Bin Bader Al Saud, Mohammad Al Zaben, Mohammad Al Khalili
Headquarters: United Arab Emirates (UAE)
🎯 Gaming startup PlaysOut raised $7 million.
PlaysOut, which provides platforms with a mini-games engine, and an SDK, which helps them access a library of engaging mini-games, has raised $7 million in Seed funding round from OKX Ventures, KBW Ventures and Pacific Century Group.
Transaction Type: Investment
Investors: OKX Ventures, KBW Ventures, Pacific Century Group
Co-founders: Jassem Osseiran, Jimmie Jeremejev
Headquarters: United Arab Emirates (UAE)
🎯 Tokenised gold platform ORO Labs raised $1.5 million.
ORO, a tokenised gold platform that enables users to seamlessly access, trade, and utilise gold-backed assets across financial markets, has raised $1.5 million in pre-Seed funding round, led by 468 Capital. Fasset and angel investors also participated in the investment round.
Transaction Type: Investment
Investors: 468 Capital, Fasset, angel investors
Co-founders: Usman Saleem
Headquarters: United Arab Emirates (UAE)
🎯 Legal document database Juridoc.tn raised funding.
Juridoc, which provides AI-powered legal documents and automated services, has raised funding from Go Big Partners and 216 Capital Ventures.
Transaction Type: Investment
Investors: Go Big Partners, 216 Capital Ventures
Co-founders: Assali Kais, Maya Boureghda Chebeane, Anis Wahabi
Headquarters: Tunisia
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