Last week, there were 4 startup investments and 1 secondary transaction in the MENA between May 2 – 8:
Investments:
2 Egypt, 1 Pakistan, 1 Kingdom of Saudi Arabia (KSA)
Secondary Transactions:
1 United Arab Emirates (UAE)
Sectors Received Investments:
2 Financial Services
1 Health Care
1 Supply Chain Management / Health Care
News of the Week
🎯 Money management platform Money Fellows raised $13 million.
Money Fellows, which digitises traditional savings circlesto provide users across Africa with accessible tools for saving, borrowing and investing, has raised $13 million from Al Mada Ventures and DPI Venture Capital, Partech, CommerzVentures and other investors.
Transaction Type: Investment
Investors: Al Mada Ventures and DPI Venture Capital, Partech, CommerzVentures, other investors
Co-founders: Ahmed Wadi
Headquarters: Egypt
🎯 Fintech startup Nqoodlet raised $3 million.
Nqoodlet, which provides small and medium businesses across Saudi Arabia and the GCC with a financial operating system that includes smart corporate cards, has raised $3 million in Seed funding round from Waad Investments, OmanTel, 500 Sanabil Investment, Oqal, Seed Holding and other investors.
Transaction Type: Investment
Investors: Waad Investments, OmanTel, 500 Sanabil Investment, Oqal, Seed Holding, other investors
Co-founders: Mohamed Milyani, Yara Ghouth
Headquarters: Kingdom of Saudi Arabia (KSA)
🎯 Virtual care platform MedIQ raised $6 million.
MedIQ, which offers a digitally integrated hybrid healthcare ecosystem for B2B and B2B2C clients, has raised $6 million in Series A funding round, led by Rasmal Ventures and Joa Capital.
Transaction Type: Investment
Investors: Rasmal Ventures, Joa Capital
Co-founders: Saira Siddique
Headquarters: Pakistan
🎯 Medtech startup iSUPPLY raised $3 million.
i‘SUPPLY, which aims to digitise the pharmaceutical business by providing a one-stop-shop solution to quickly predict and overcome supply chain disruptions, has raised $3 million from Bokra.
Transaction Type: Investment
Investors: Ibrahim Emam, Malek Sultan, Moustafa Zaki
Co-founders: Bokra
Headquarters: Egypt
🛒 CPX Holding acquires spiderSilk.
UAE-based CPX Holding has acquired cyber and physical security solutions provider spiderSilk.
Transaction Type: Acquisition
Investors: CPX Holding
Co-founders: –
Headquarters: United Arab Emirates (UAE)
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