Weekly Startup Ecosystem Overview in the Middle East and North Africa (MENA) / 27 January – 2 February

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Last week, there were 6 investments in the MENA between 27 January – 2 February:


4 United Arab Emirates (UAE), 1 Egypt, 1 Morocco

Sectors Received Investments:

3 Fintech

1 Social Commerce

1 Multi-industry

1 Car Rental

News of the Week

🎯 Fintech startup MNT-Halan raised funding.

MNT-Halan, a startup that offering a variety of financial and non-financial services, received an investment of $400 million from local and global investors. About $200 million was provided by Abu Dhabi–based Chimera Investments.

Transaction Type: Investment

Investment Amount: $400.000.000

Investors: Chimera Investments, other local and global investors

Co-founders: Mounir Nakhla

Country: Egypt

🎯 Digital mortgage platform Holo raised funding.

Holo, which aims to simplify clients’ home ownership processes, has raised a seven-figure investment in its seed round. The investment round led by Watheeq Proptech Venture and Hambro Perks Oryx Fund. Dubai Future District Fund (DFDF), Annex Investments and Tawaref Angel Network also participated in the investment round.

Transaction Type: Investment

Investment Amount:

Investors: Watheeq Proptech Venture, Hambro Perks Oryx Fund, DFDF, Annex Investments, Tawaref Angel Network

Co-founders: Michael Hunter, Arran Summerhill

Country: United Arab Emirates (UAE)

🎯 Financial benefits platform Gwala raised funding.

Gwala, the platform that offers optional payment methods to employees and employers, has raised an undisclosed pre-Seed round.

Transaction Type: Investment

Investment Amount:


Co-founders: Mossaab Abaouz

Country: Morocco

🎯 Social commerce startup RestHero raised funding.

RestHero, a B2B SaaS platform for e-commerce businesses, recevied an investment of $200.000 from Bahrain-based VC firm Hope Ventures and Saudi investor Khalid Al-Taweel.

Transaction Type: Investment

Investment Amount: $200.000

Investors: Hope Ventures, Khalid Al-Taweel

Co-founders: Abdulla Alshimmari, Ahmed Khalifa

Country: United Arab Emirates (UAE)

🎯 UAE-based manufacturer YAS Holding raised funding.

YAS Holding, a group holding company that manufactures and supplies furniture, has raised $1.3 million under the leadership of Hope Ventures and Majed Alkhan representing Infracorp.

Transaction Type: Investment

Investment Amount: $1.300.000

Investors: Hope Ventures, Infracorp

Co-founders: Yasser Shuaib, Ali Al-Haddad

Country: United Arab Emirates (UAE)

🎯 Rental solutions platform Finalrentals raised funding.

Finalrentals, an online car rental platform that based in Dubai and headquartered in Cardiff, has raised a six-figure round Eamon Tuhami and Fuel Ventures.

Transaction Type: Investment

Investment Amount:

Investors: Eamon Tuhami, Fuel Ventures

Co-founders: Ammar Akhtar

Country: United Arab Emirates (UAE)

Other News:

📌 Paymob, a fintech platform opperates in MENAP region, has partnered with Egypt-based digital logistic startup Khazenly, to enable merchants to fully digitise their business operations.

📌 Saudi-based food and beverages startup Lugmety is expanding its services in the Middle East to provide users with an efficient and seamless food shopping experience on its platform.

📌 Masdar City has collabrated with Hub71, to promote opportunities for clean tech and climate tech start-ups focused on sustainability. The agreement also names Hub71 to Masdar City’s official start-up ecosystem partner.

📌 Sharjah Entrepreneurship Center (Sheraa) has partnered with The BEEAH Group to empower startups and organisations in the the sustainability sector.

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