Last week, there were 3 startup investments in the MENA between July August 2 – 8:
Investments:
2 Egypt, 1 Kingdom of Saudi Arabia (KSA)
Sectors Received Investments:
1 Banking
1 SaaS
1 Financial Services
News of the Week
🎯 Digital lending marketplace Qardy raised funding.
Qardy, a digital lending marketplace that provides micro, small, and medium-sized enterprises (MSMEs) with financing solutions to scale their growth, has raised an investment in pre-Seed funding round, led by Sanabil and 500 Global.
Transaction Type: Investment
Investors: Sanabil, 100 Global
Co-founders: Abdelaziz Abdel Nabi
Headquarters: Egypt
🎯 SaaS provider Blend raised $1.3 million.
Blend, which allows restaurant owners to efficiently manage orders and items while easily tracking reports, through a system that integrates multiple food delivery platforms into a single screen, has raised $1.3 million in pre-Seed from undisclosed angel investors.
Transaction Type: Investment
Investors: Angel investors
Co-founders: Omar bin Sultan Al-Lihyan
Headquarters: Kingdom of Saudi Arabia (KSA)
🎯 Financial solutions provider Lucky ONE raised $3 million.
Lucky ONE, which offers financial flexibility and increased spending power through its robust lending scheme, discounts and cashbacks, has raised $3 million in convertible note from Lorax Capital Partners, KEM, DisrupTech Ventures and angel investors.
Transaction Type: Investment
Investors: Lorax Capital Partners, KEM, DisrupTech Ventures, angel investors
Co-founders: Momtaz Moussa, Ayman Essawy, Marwan Kenawy
Headquarters: Egypt
Other News:
📌 VC-incubator T-Vencubator has launched its inaugural initiative “Where’s the Problem?” to back the Egyptian ecosystem.
📌 SANDBOX, the accelerator programme backed by Oraseya Capital, has celebrated the graduation of seven startups as part of its fourth cohort.
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