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There were 10 investments in the MENA between 14-20 October:
Investments:
5 Egypt, 3 Kingdom of Saudi Arabia (KSA), 1 United Arab Emirates (UAE), 1 Tunisia
Acquisitions:
1 Morocco, 1 Jordan, 1 United Arab Emirates (UAE)
Sectors Received Investments:
5 E-commerce
2 Fintech
2 Edtech
1 Human Resources
News of the Week
🎯 Tunisia-based edtech startup Sghartoon, raised funding.
Tunisia-based edtech startup Sghartoon has raised $150,000 from the Oman Investment Fund. It offers interactive cartoons, exercises and games with content adapted for dyslexic children. It was part of Flat6Labs Tunisia in 2020.
Transaction Type: Investment
Investment Amount: $150.000
Investors: Oman Investment Fund
Co-founders: Hidayet Ayadi
Country: Tunisia
🎯 Human Resources startup HRCom, raised funding.
Saudi Arabian recruitment SaaS startup HRCom has raised a seed fund from Saudi Manpower Solutions Company (SMASCO), Professional Recruitment agency, Squadio and angel investors. Financial details were not disclosed.
Transaction Type: Investment
Investors: Saudi Manpower Solutions Company (SMASCO), Professional Recruitment agency, Squadio, Angel Investors
Co-founders: Ziyad Al Twaijri
Country: Kingdom of Saudi Arabia (KSA)
🎯 E-commerce provider startup Zid, raised funding.
Saudi Arabian-based e-commerce provider Zid has raised $50 million in Series B funding led by IMPACT46. Zid enables retailers to sell and grow their own online channels through its two solutions, ZidShip(shipping) and ZidPay(payment).
Transaction Type: Investment
Investment Amount: $50.000.000
Investors: IMPACT46, Wa’ed Ventures, Endeavour Catalyst, Global Ventures, Elm, Arzan VC, MSA Capital
Co-founders: Sultan AlAsmi, Mazen AlDarrab
Country: Kingdom of Saudi Arabia (KSA)
🎯 B2B e-commerce and distribution platform MaxAB, raised funding.
Egypt-based B2B food and grocery e-commerce startup MaxAB has raised $40 million in a pre-series B funding round from Silver Lake, British International Investment, Disrupt AD, BECO Capital, 4DX Ventures, Flourish Ventures and Africa Platform Capital.
Transaction Type: Investment
Investment Amount: $40.000.000
Investors: Beco Capital, Flourish Ventures, 4DX Ventures, Africa Platform Capital, Silver Lake, DisruptAD, British International Investment (BII)
Co-founders: Belal El-Megharbel, Mohamed Ben Halim
Country: Egypt
🎯 Egypt-based youth-focused fintech Kiwe, raised funding.
Kiwe, an Egypt-based youth-focused social payments startup, has raised funds from valU, the Egypt-based BNPL, the value of which has not been disclosed.
Transaction Type: Investment
Investors: valU
Co-founders: Fatma Khalifa, Omar Kamel, Mohamed Khalifa
Country: Egypt
🎯 Trella, the Egyptian-based trucking market, received a debt investment.
Trella, an Egypt-based digital freight marketplace, has borrowed $6 million from ALMA Sustainable Finance (ALMA) and the US International Development Finance Corporation (DFC).
Transaction Type: Investment
Investment Amount: $6.000.000
Investors: ALMA Sustainable Finance (ALMA), US International Development Finance Corporation (DFC)
Co-founders: Omar Hagrass, Ali El Atrash, Pierre Saad ve Muhammad El Garem
Country: Egypt
🎯UAE-based e-commerce startup Santra, raised funding.
Santra, UAE-based ecommerce enablement startup, raised a pre-seed funding round from Infinity Enterprises Investment, value undisclosed. The startup was founded in 2022 and focuses on home businesses. It has not launched its services yet.
Transaction Type: Investment
Investors: Infinity Enterprises Investment
Co-founders: Aziz Jameel
Country: UAE
🎯 Kenzz, an Egyptian-based e-commerce startup, raised funding.
Kenzz, an Egypt-based e-commerce solutions provider, raised $3.5 million in a seed investment round led by Outliers VC.
Transaction Type: Investment
Investment Amount: $3.500.000
Investors: Outliers VC, HOF Capital, Foundation Ventures, Samurai Incubate
Co-founders: Ahmed Atef, Mahmoud AlSilk, Moataz Sami
Country: Egypt
🎯 Egyptian fintech Nexta, raised funding.
Egypt-based digital banking startup Nexta has secured $3 million in funding from digital bank firm e-Finans.
Transaction Type: Investment
Valuation: $3.000.000
Investors: e-Finans
Co-founders: Ahmed Hisham
Country: Egypt
🎯 Marah, the platform that provides activities for children, raised funding.
Saudi-based events platform for children, Marah, has raised a seed fund from angel investors. Financial details were not disclosed.
Transaction Type: Investment
Investors: Angel Investors
Country: Kingdom of Saudi Arabia (KSA)
🛒 Mobility startup Badeel is acquired by Moroccan-based Sofac.
Moroccan mobility startup Badeel has been acquired by Moroccan financial services company Sofac. Financial details were not disclosed.
Transaction Type: Acquisition
Investors: Sofac
Co-founders: Al Shaima Al Jahdhami (Badeel)
Country: Morocco
🛒 Fresh Del Monte acquires agricultural technology Decapolis.
US-based agricultural company Fresh Del Monte Produce has acquired a 39 percent stake in Jordanian agricultural technology Decapolis.
Transaction Type: Acquisition
Share Ratio: 39%
Investors: Fresh Del Monte
Co-founders: Abedalrhman Habashneh (Decapolis)
Country: Jordan
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