Last week, there were 4 startup investments and 1 secondary transaction in the MENA between February 23 – March 1:
Investments:
1 United Arab Emirates (UAE), 1 Kingdom of Saudi Arabia (KSA), 1 Egypt
Secondary Transactions:
1 United States
Bonus:
1 Egypt-based VC firm invests in Kenya-based startups.
Sectors Received Investments:
1 Social Network
1 SaaS & Software
1 Financial Services
1 Information Technology & SaaS
News of the Week
🎯 Social networking app Hayi raised funding.
Hayi, a social platform that connects residents of a neighbourhood where they can share news and services, has raised an investment in Seed funding round from Plus VC and other regional angel investors.
Transaction Type: Investment
Investors: Plus VC, angel investors
Co-founders: Chris Darnell, Rene Morgan
Headquarters: United Arab Emirates (UAE)
🎯 SaaS platform Glamera raised $350.000.
Glamera, an all-in-one SaaS platform that powers and supplies lifestyle service providers, has raised $350.000 from Hope Ventures, Fahad AlRajhi and Dr. Khalid Altawil during Beban TV Show.
Transaction Type: Investment
Investors: Hope Ventures, Fahad AlRajhi, Dr. Khalid Altawil
Co-founders: Mohamed Hassan, Omar Fathy
Headquarters: Kingdom of Saudi Arabia (KSA)
🎯 Payment and fintech services provider Money Hash raised $4.5 million.
MoneyHash, a payment orchestration that offers a comprehensive payment operating system as a service to address the various technological and product challenges faced by enterprise merchants, has raised $4.5 million in Seed funding round, co-led by COTU Ventures and Sukna Ventures. RZM Investment, Dubai Future District Fund, VentureFriends and angel investors also participated in the investment round.
Transaction Type: Investment
Investors: COTU Ventures, Sukna Ventures, RZM Investment, Dubai Future District Fund, VentureFriends, angel investors
Co-founders: Nader Abdelrazik, Mustafa Eid, Anisha Sekar
Headquarters: Egypt / United States
🎯 E-commerce enabler tappi raised $1.5 million.
tappi, a SaaS platform where micro, small and medium-sized enterprises can create their digital presence, has raised $1.5 million in pre-Seed funding round from Egypt-based VC firm Acasia Ventures.
Transaction Type: Investment
Investors: Acasia Ventures
Co-founders: Kenfield Griffith, Louis Majanja
Headquarters: Kenya
🛒 CoreVision acquires VeFund.
Saudi Arabia-based investment firm CoreVision has acquired MENA-focused investment management platform VeFund.
Transaction Type: Acquisition
Investors: CoreVision
Co-founders: Mohamed Gaber, Ahmed Magdy
Headquarters: United States
Other News:
📌 UAE-based early-stage VC firm COTU Ventures has launched a $54 million inaugural fund, which aims to support startups in the Middle East from pre-seed to seed stages.
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