Last 2 weeks, there were 4 investments and 2 secondary transactions in the MENA between 7 – 20 April:
Investments:
2 United Arab Emirates (UAE), 1 Kingdom of Saudi Arabia (KSA), 1 Tunisia
Acquisitions:
1 United Arab Emirates (UAE), 1 Egypt
Sectors Received Investments:
1 Fintech
1 Gaming
1 Software
1 Energy
News of the Week
🎯 Social saving platform Hakbah raised funding.
Hakbah, a fintech startup that focusing on an alternative financial savings, received an investment of $2 million in pre-Series A funding round. The investment round was participated by Global Ventures and Aditum Investment Management.
Transaction Type: Investment
Investment Amount: $2.000.000
Investors: Global Ventures, Aditum Investment Management
Co-founders: Dimitar Kazakov, Naif AbuSaida
Country: Kingdom of Saudi Arabia (KSA)
🎯 Gaming platform CoaChess raised funding.
CoaChess, which provides a services, instructions and sophisticated learning methods designed to increase players’ skills at any level, received an investment of $191.000 in pre-Seed funding round from Omicrone.
Transaction Type: Investment
Investment Amount: $191.000
Investors: Omicrone
Co-founders: Iheb Kaabi
Country: Tunisia
🎯 Booking software provider Flyksoft raised funding.
Flyksoft, which provides an all-in-one solution for managing salon and spa operations, has raised $55.000 in Seed funding round from angel investors.
Transaction Type: Investment
Investment Amount: $55.000
Investors: Angel investors
Co-founders: Mohammad Ibrahim
Country: United Arab Emirates (UAE)
🎯 Renewable energy systems provider Ryse Energy raised funding.
Ryse Energy, a decentralized renewable energy systems company that combines wind energy with solar PV and energy storage, has raised a $15 million from RWE Energy Transition Investments.
Transaction Type: Investment
Investment Amount: $15.000.000
Investors: RWE Energy Transition Investments
Co-founders: Alistair Munro
Country: United Arab Emirates (UAE)
🛒 e& acquires majority stake in Careem’s Super App.
UAE-based communication firm e& (Etisalat) has acquired a 50.03 per cent stake in Careem’s Super App spinout for $400 million.
Transaction Type: Acquisition
Investors: e& (Etisalat)
Co-founders: Magnus Olsson, Mudassir Sheikha
Country: United Arab Emirates (UAE)
🛒 Autochek acquires majority stake in AutoTager.
Nigeria-based car financing platform Autochek, has acquired a majority stake in Egypt’s used cars marketplace, AutoTager.
Transaction Type: Acquisition
Investors: Autochek
Co-founders: Amr Rezk
Country: Egypt
Other News:
📌 The UAE’s Ministry of Finance has raised the minimum threshold for corporate tax from $100,000 (AED375,000) to $816,000 (AED3 million) for small and micro businesses, startups and freelancers.
📌 e-finance for Digital and Financial Investments has signed a partnership with Saudi-based Thiqah Business Services to provide digital solutions, electronic payment services and integrated technological systems in Saudi Arabia and Egypt.
📌 Abu Dhabi-based AI technology group G42, and Mubadala Investment Company has announced launch of M42, a tech-enabled and integrated healthcare company.
📌 Intelllia, a provider of analytical and strategic support for investment and finance institutions, has launched an AI-powered vetting and project delivery platform for finance, strategy and public policy for its clients across emerging markets.
📌 UAE-based fuel-on-demand service CAFU has announced its global launch starting with an expansion into Canada.
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