Last week, there were 4 investments and 1 secondary transaction in the MENA between 5 – 11 May:
Investments:
2 United Arab Emirates (UAE), 2 Egypt
Acquisitions:
1 United Arab Emirates (UAE)
Sectors Received Investments:
2 FinTech
1 Mobility
1 TravelTech
News of the Week
🎯 Remittance platform Balad raised funding.
Balad, a remittance-driven financial service platform that provides solutions for migrants and their families, has raised a seven-figure investment in pre-Seed funding round, led by Acasia Ventures. Launch Africa, Future Africa, V&R, Magic Fund, First Circle, Sunny Side and several family offices also participated in the investment round.
Transaction Type: Investment
Investment Amount: –
Investors: Acasia Ventures, Launch Africa, Future Africa, V&R, Magic Fund, First Circle, Sunny Side, other investors
Co-founders: Adham Azzam, Sally Asaad, Mohamed Assem
Country: Egypt
🎯 Automated saving platform TWIG raised funding.
Bank-agnostic automated saving platform TWIG, has secured an undisclosed pre-Seed round, backed by Phoenician VC, MMK Capital, Soul Ventures, regional family offices and other angel investors.
Transaction Type: Investment
Investment Amount: –
Investors: Phoenician VC, MMK Capital, Soul Ventures, regional family offices, other angel investors
Co-founders: Chafic Idriss, Karam El Dik, Rayan Antonios
Country: United Arab Emirates (UAE)
🎯 Road assistant service Helpoo raised funding.
Helpoo, an integrated tech-enabled service application that offers timely, high-quality motor vehicle insurance inspections, insurance claim management and road assist services, received an investment from mobility solutions platform Morni.
Transaction Type: Investment
Investment Amount: –
Investors: Morni
Co-founders: –
Country: Egypt
🎯 Hotel booking engine Digital Hotelier raised funding.
Digital Hotelier, which offers a software solution for guests and tourists to book and pay for services at hotels such as room service, spas, food, and entertainment, has raised a six-figure investment in pre-Seed funding round. The investment round was joined by Select Ventures Holding, along with angel investors from UAE and KSA.
Transaction Type: Investment
Investment Amount: –
Investors: Select Ventures Holding, angel investors
Co-founders: Qutaiba Alali, Ali Fouad
Country: United Arab Emirates (UAE)
🛒 Deliverect acquires ChatFood.
Belgium-based food delivery software provider Deliverect has acquired commission-free online ordering platform ChatFood.
Transaction Type: Acquisition
Investors: Deliverect
Co-founders: Benjamin Mouflard, Vinicius Rodrigues
Country: United Arab Emirates (UAE)
Other News:
📌 Egypt-based early-stage VC fund DisrupTech Ventures has received a $5 million investment from Proparco.
📌 Rainmaking Innovation, The Jordan Payments and Clearing Company (JoPACC) has launched the JOIN Fincubator, a fintech incubator that will support the development of fintech startups in Jordan.
📌 The UAE’s Mohamed bin Zayed University of Artificial Intelligence (MBZUAI) has signed an MoU with Israeli VC fund OurCrowd, to accelerate the growth of the university’s AI technology ecosystem.
📌 UAE-based Khazna Data Centres is expanding its operations in Egypt as part of its strategy to address the growing demand for data capacity in the MENA region.
🟥 StartupCentrum
Find the best startup jobs or launch your future unicorn company, meet the best talents and startups, and get in contact with international accelerators and investors to grow!
For more information startupcentrum.com
To take part in the StartupCentrum Entrepreneurship Ecosystem Summary of Turkey or MENA series and to be our supporter: [email protected]