Weekly Startup Ecosystem Overview in the Middle East and North Africa (MENA) / February 26 – March 1

Here you can read this post in these languages:

Last week, there were 4 startup investments and 1 secondary transaction in the MENA between February 23 – March 1:


1 United Arab Emirates (UAE), 1 Kingdom of Saudi Arabia (KSA), 1 Egypt

Secondary Transactions:

1 United States


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.

🟥 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]

Recent Articles

Related Posts


Lütfen yorumunuzu giriniz!
Lütfen isminizi buraya giriniz