Last week, there were 8 startup investments in the MENA between August 30 – September 5:
Investments:
4 Kingdom of Saudi Arabia (KSA), 3 United Arab Emirates (UAE), 1 Tunisia
Sectors Received Investments:
2 Financial Services
1 Automotive & E-Commerce
1 HR & Business Development
1 B2B
1 Enterprise Resource Planning
1 Health Care
1 Clean Tech
News of the Week
🎯 Fintech startup Ziina raised $22 million.
Ziina, which helps individuals send and receive payments through its app with just a phone number, has raised $22 million in Series A funding round. The investment round was led by Altos Ventures, with participation from Fintech Collective, Avenir Growth, Activant Capital, Y Combinator, FJ Labs, MEVP and Jabbar Internet Group.
Transaction Type: Investment
Investors: Altos Ventures, Fintech Collective, Avenir Growth, Activant Capital, Y Combinator, FJ Labs, MEVP, Jabbar Internet Group
Co-founders: Faisal Toukan, Sarah Toukan
Headquarters: United Arab Emirates (UAE)
🎯 Wealth management tool Malaa raised $17.3 million.
Malaa, a wealth management tool that empowers individuals and organisations for better financial decisions by offering data-driven financial products and services, has raised $17.3 million in Series A funding round, led by SNB Capital. Derayah Financial, Khwarizmi Ventures, Impact46 and WKN also participated in the investment round.
Transaction Type: Investment
Investors: SNB Capital, Derayah Financial, Khwarizmi Ventures, Impact46, WKN
Co-founders: Ali Aloraini, Faisal Alqarni
Headquarters: Kingdom of Saudi Arabia (KSA)
🎯 Online car marketplace Syarah raised $60 million.
Syarah, which allows its consumers to buy new cars online and have them delivered to their doorstep, has raised $60 million in Series C funding round, led by Artal Capital. Elm, Impact46, Tawuniya and Derayah Ventures also participated in the investment round.
Transaction Type: Investment
Investors: Artal Capital, Elm, Impact46, Tawuniya, Derayah Ventures
Co-founders: Salah Sharef, Fayez Al-Anazi
Headquarters: Kingdom of Saudi Arabia (KSA)
🎯 HR tech startup Cercli raised $4 million.
Cercli, which empowers businesses to eliminate human error and reduces the cost of compliance across operational markets, has raised $4 million in Seed funding round. The investment round was led by Afore Capital, with participation from COTU Ventures, Y Combinator, Rebel Fund, Karim Atiyeh, Sebastian Mejia, Tony Dong, Tony Jamous and Allison Pickens.
Transaction Type: Investment
Investors: Afore Capital, COTU Ventures, Y Combinator, Rebel Fund, Karim Atiyeh, Sebastian Mejia, Tony Dong, Tony Jamous, Allison Pickens
Co-founders: Akeed Azmi, David Reche
Headquarters: United Arab Emirates (UAE)
🎯 Integration platform Reachware raised $3 million.
Reachware, which offers businesses a range of services, including system integration, process automation, and advanced analytics, has raised $3 million in Seed funding round, led by Sadu Capital. 500 Sanabil Investments and Elm Company also participated in the investment round.
Transaction Type: Investment
Investors: Sadu Capital, 500 Sanabil Investments, Elm Company
Co-founders: Hamza Abusitta, Maysarah Mashaal
Headquarters: Kingdom of Saudi Arabia (KSA)
🎯 ERP provider Hulexo raised funding.
Hulexo, which helps retailers streamline their operations by providing customised, subscription-based ERP systems, has raised an investment in Seed funding round from Arzan VC.
Transaction Type: Investment
Investors: Arzan VC
Co-founders: Huzaifa Hameed, Ibrahim Al Rachdi, Marwin Favila
Headquarters: United Arab Emirates (UAE)
🎯 Healthtech startup Thakaa Med raised funding.
ThakaaMed, which specialises in AI-driven healthcare solutions, focussing on transforming care through advanced predictive, preventive, and personalised technologies, has raised an investment in Seed funding round from Falak Angels.
Transaction Type: Investment
Investors: Falak Angels
Co-founders: Alwaleed Albadr
Headquarters: Kingdom of Saudi Arabia (KSA)
🎯 Real-time monitoring solution Wattnow raised funding.
Wattnow, which helps companies take control of their energy usage through the combination of its plug-and-play hardware and software solutions, has raised funding. The investment round was led by Lateral Frontiers and 216 Capital, with participation from Outlierz Ventures, Satgana, Octerra Capital and angel investors.
Transaction Type: Investment
Investors: Lateral Frontiers, 216 Capital, Outlierz Ventures, Satgana, Octerra Capital, angel investors
Co-founders: Issam Smaali
Headquarters: Tunisia
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