Top News
There were 6 investments and 3 secondary transactions in the MENA between 23 – 29 September:
Investments:
4 Egypt, 1 United Arab Emirates (UAE), and 1 Tunisia.
Acquisitions:
2 United Arab Emirates (UAE), 1 Lebanon
Sectors Received Investments:
1 Marketplace
1 Proptech
1 Gaming
1 Cleantech
1 Restaurant
1 Finance
🎯 Egypt-Based Marketplace Mazaya raised funding.
Egypt-based electronic product B2B E-commerce Marketplace Mazaya raised $5 million in the Pre-SEED round led by Raya Holding for Financial Investments. The funding from this investment round will be used to help Mazaya scale its operations in Egypt and expand into new markets.
Transaction Type: Investment
Investment Amount: 5.000.000 $
Investors: Raya Holding for Financial Investments
Co-founders: Amir Aboul Fotouh
Country: Egypt
🎯 Egypt-based Proptech Partment raised funding.
Offering an end-to-end management service solution for second home co-ownership, Egypt-based Partment, Nclude, closed its pre-Seed round with an investment of $1.5 million, led by Plus Venture Capital (+VC) and with the participation of a group of angel investors.
Transaction Type: Investment
Investment Amount: 1.500.000 $
Investors: Nclude, Plus Venture Capital (+VC), Angel Investors
Co-founders: Ahmed El Raggal, Nadim Nagui
Country: Egypt
🎯 Egypt’s Ingame Sports raised funding.
InGame Sports, Egypt-based gaming and sports tech startup have raised over $1 million in cash, in-kind, and grants in a pre-seed round led by global VC Openner. Founded in 2021, Ingame offers football fans a gaming experience with a rewards plan.
Transaction Type: Investment
Investment Amount: 1.000.000 $
Investors: Openner, Sports Radar, Angel Investors
Co-founders: Mohab El Tawila
Country: Egypt
🎯 Tunisia-based startup Kumulus raised funding.
Kumulus, a Tunisian startup that produces thermal machines that can produce drinking water with solar energy, raised 1 Million Euros in its pre-seed funding round with the participation of Paris Techstars Accelerator, Flat6Labs, WILCO and Bpifrance, and business angels.
Transaction Type: Investment
Investment Amount: 1.000.000 €
Investors: Paris Techstars Accelerator, Flat6Labs, WILCO, Bpifrance, Business Investors
Co-founders: Mohamed Ali Abid, Iheb Triki
Country: Tunisia
🎯 Eat App, UAE-HQ restaurant reservation platform, raised funding.
The startup offering a Dubai-based restaurant reservation platform, Eat App, closed an 11 million-dollar Series B with the participation of MEVP, 500 Startups, Derayah VC, Dallah Albaraka, Ali Zaid Al Quraishi & Brothers Company, Rasameel Investment Company and existing investors.
Transaction Type: Investment
Investment Amount: 11.000.000 $
Investors: MEVP, 500 Startups, Derayah VC, Dallah Albaraka, Ali Zaid Al Quraishi & Brothers Company, Rasameel Investment Company
Co-founders: David Feuillard, Nezar Kadhem
Country: United Arab Emirates (UAE)
🎯 Egypt-based Provider of nano-loans Kashat raised funding.
Kashat, a startup offering Nano loan service with machine learning infrastructure, has received funding from both Plug & Play and Launch Africa as part of its ongoing fundraising campaign. Financial details of the funding round were not shared.
Transaction Type: Investment
Investors: Plug & Play, Launch Africa
Co-founders: Karim Nour, Sumair Farooqui
Country: Egypt
🛒 Dubai-based Oktopi acquired UK’s TutorHouse
Oktopi, a UAE-based experience next-gen learning management platform, acquired TutorHouse, UK – based online tutoring platform, for an undisclosed value.
Transaction Type: Acquisition
Investors: Oktopi
Co-founders: Emilie Thomas Mansour, Fadi Abbas, Walid Mansour(Oktopi)
Country: United Arab Emirates (UAE)
🛒 UAE-based Chalhoub Group, acquired a majority stake in Threads Styling
Chalhoub Group, a UAE-based privately held luxury goods retailer and distributor, has acquired a majority stake in London-based luxury shopping platform Threads Styling for an undisclosed value.
Transaction Type: Acquisition
Investors: Chalhoub Group
Co-founders: Michel Chalhoub (Chalhoub Group)
Country: United Arab Emirates (UAE)
🛒 UAE-based online insurance platform BuyAnyInsurance.com, acquired by Chedid Capital.
Lebanon-based Chedid Capital has acquired a majority stake in MMR Holding Limited, the parent company of UAE-based insurance comparison marketplace BuyAnyInsurance, for an undisclosed sum.
Transaction Type: Acquisition
Investors: Chedid Capital
Co-founders: Michael İlyas, Mark Bachayani (BuyAnyInsurance.com)
Country: Lebanon
🛒 Logistics marketplace Trella has entered into a cooperation agreement with Contact Financial.
Contact Financial Holding, an Egypt-based non-banking financial services company, has entered into a collaboration agreement with the B2B technology platform and logistics marketplace Trella to expand formerly loan services and enable a wide range of digital platforms to meet their business.
Transaction Type: Strategic Cooperation
Co-founders: Ali El Atrash, Muhammad El Garem, Omar Hagrass, Pierre Saad (Trella)
Country: Egypt
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Other News:
📌 Morocco-based BMCE Capital has launched a $4.5 million fund to support the local ecosystem. The fund focuses on financing Moroccan startups at the seed stage.
📌 The Egypt-Centered Climate Resilience Fund has launched a $25 million venture capital fund to invest in the pre-seed stage ‘nature-positive’ and sustainable agriculture initiatives in the MEA.
📌 UAE-based investment firm Further Ventures launches a $200 million fund that will focus on investments in early-stage digital assets, fintech, and supply chain.
📌 The African Women Impact Fund (AWIF) Initiative, established to support female asset managers, female-led funds, and investment managers, announced the first closing of the $60 million fund.
📌 Morocco-based investment firm BMCE Capital Investment has launched its first $4.5 million venture capital fund to invest in Moroccan seed-stage startups.
📌 UAE-based payment and shopping app Tabby has partnered with Egypt’s BNPL digital payment solution fintech Paymob.
📌 Microsoft for Startups Middle East has announced the 3rd batch of its GrowthX Accelerator program.
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