Last week, there were 7 startup investments and 1 secondary transaction in the MENA between August 16 – 22:
Investments:
4 Kingdom of Saudi Arabia (KSA), 1 United Arab Emirates (UAE), 1 Pakistan, 1 Kuwait
Secondary Transactions:
1 United Arab Emirates (UAE)
Sectors Received Investments:
2 Payments
1 Financial Services
1 Gift Card & Payments
1 Enterprise Software
1 Loyalty Programs
1 Artificial Intelligence
News of the Week
🎯 Payment solutions provider PostEx raised $7.3 million.
PostEx, which provides upfront payments to e-commerce businesses along with the provision of a reliable delivery network, has raised $7.3 million in pre-Series A funding round, led by Conjunction Capital. Dash Ventures, Sanabil500, VSQ, FJ Labs and Zayn VC also participated in the investment round.
Transaction Type: Investment
Investors: Conjunction Capital, Dash Ventures, Sanabil500, VSQ, FJ Labs, Zayn VC
Co-founders: Muhammad Omer Khan
Headquarters: Pakistan
🎯 P2P instant payment platform Kem App raised $3 million.
Kem, a P2P instant payment platform that allows users to send one another money using a QR code and forgoes the need to generate payment links or use traditional accounts, has raised $3 million from Tether.
Transaction Type: Investment
Investors: Tether
Co-founders: Seth Sadeq, Zane Chichua, George Chichua
Headquarters: Kuwait
🎯 Fintech startup Yuze raised $30 million.
Yuzei which provides a business account for startups, micro and small businesses in emerging markets to support financial inclusion, has raised $30 million from Osten Investments.
Transaction Type: Investment
Investors: Osten Investments
Co-founders: Rabih Sfeir
Headquarters: United Arab Emirates (UAE)
🎯 E-gifting platform Resal raised $9 million.
Resal, which offers a range of digital solutions and products aimed at creating a large network that connects merchants, companies, and individual, has raised $9 million in Series A funding round from Derayah Ventures Fund, Al-Wafrah AlThanya Investment Company, Venture Souq FinTech Fund, ADDiriyah Asset Management, Nomad Holdings, Bugshan Investment Group and several family offices, along with other angel investors.
Transaction Type: Investment
Investors: Derayah Ventures Fund, Al-Wafrah AlThanya Investment Company, Venture Souq FinTech Fund, ADDiriyah Asset Management, Nomad Holdings, Bugshan Investment Group, family offices, angel investors
Co-founders: Fouad Alfarhan, Hatem Kameli
Headquarters: Kingdom of Saudi Arabia (KSA)
Yalla Plus, which provides an integrated POS system that includes payment management, customer feedback processing, and delivery solutions, has raised $2.7 million in Seed funding round. The investment round was led by Merak Capital, with participation from Khwarizmi Ventures, Isometry Capital and angel investors.
Investors: Merak Capital, Khwarizmi Ventures, Isometry Capital, angel investors
Co-founders: Abdullah Alrabeh, Bader Alnasser
Headquarters: Kingdom of Saudi Arabia (KSA)
🎯 Loyalty platform Mithu raised $500.000.
Mithu, which aggregates loyalty programmes into a single, gamified app to increase customer engagement and help businesses in the food and beverage industry, has raised $500.000 in pre-Seed funding round from Adaverse.
Transaction Type: Investment
Investors: Adaverse
Co-founders: Mohsin Qureshi, Asif Ali
Headquarters: Kingdom of Saudi Arabia (KSA)
🎯 Service company Resquad AI raised $320.000.
Resquad AI, which allows software development companies to flexibly share their available developers with each other or with external clients, has raised $320.000 from angel investors.
Transaction Type: Investment
Investors: Angel investors
Co-founders: Abdullah Abdulaziz Al-Jafaari
Headquarters: Kingdom of Saudi Arabia (KSA)
🛒 Meteora acquires Maisour.
Real estate developer Meteora has acquired crowdfunding platform Maisour.
Transaction Type: Acquisition
Investors: Meteora
Co-founders: –
Headquarters: United Arab Emirates (UAE)
🟥 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, MENA or Europe series and to be our supporter: [email protected]