Last week, there were 6 startup investments in the MENA between July 19 – 25:
Investments:
2 Egypt, 2 Kingdom of Saudi Arabia (KSA), 2 United Arab Emirates (UAE)
Sectors Received Investments:
2 Financial Services
1 E-Commerce
1 Delivery Service
1 Human Resources
1 Clean Energy
News of the Week
🎯 Microfinance lending and payments platform MNT-Halan raised $157.5 million.
MNT-Halan, which offers a diverse portfolio of financial and non-financial services ranging from lending, buy now pay later, e-commerce, payments, and mobility to on-demand logistics, has raised $157.5 million from International Finance Corporation (IFC), Development Partners International (DPI), Lorax Capital Partners, Apis Partners LLP, Lunate and GB Corp.
Transaction Type: Investment
Investors: International Finance Corporation (IFC), Development Partners International (DPI), Lorax Capital Partners, Apis Partners LLP, Lunate, GB Corp
Co-founders: Mounir Nakhla
Headquarters: Egypt
🎯 Fintech startup TechMal raised $1 million.
TechMal, which operates as a micro-consumer finance company, has raised $1 million in pre-Seed funding round from Al Majidiya Investment Company and other investors.
Transaction Type: Investment
Investors: Al Majidiya Investment Company, other investors
Co-founders: Saud Al-Rebdi, Basil Alsuhaibani
Headquarters: Kingdom of Saudi Arabia (KSA)
🎯 Online store Kemitt raised funding.
Kemitt, a marketplace that connects product and furniture designers with consumers, has raised funding from undisclosed investors.
Transaction Type: Investment
Investors: –
Co-founders: Mahmoud Fouad, Mohamed Rashwan, Mohamed Hedayat
Headquarters: Egypt
🎯 Logistics platform OTO raised $8 million.
OTO, a logistics technology company specialising in simplifying order shipping, management, tracking, returns, and analysis through a single integrated platform, has raised $8 million in Series A funding round, led by Sanabil Investments. Sadu Capital, Iliad Partners, Propeller and Soma Capital also participated in the investment round.
Transaction Type: Investment
Investors: Sanabil Investments, Sadu Capital, Iliad Partners, Propeller, Soma Capital
Co-founders: Mohammad AlRazaz, Furkan Uzar
Headquarters: Kingdom of Saudi Arabia (KSA)
🎯 Digital staffing marketplace Ogram raised funding.
Ogram, a digital staffing marketplace that enables businesses to book and manage staff on-demand, has raised funding. The investment round was led by Oraseya Capital, with participation from Aditum Investment Management and Everywhere VC.
Transaction Type: Investment
Investors: Oraseya Capital, Aditum Investment Management, Everywhere VC
Co-founders: Karim Kouatly, Shafiq Khartabil
Headquarters: United Arab Emirates (UAE)
🎯 Electric motorcycles provider Zyp Technologies raised $1.5 million.
Zyp Technologies, which specialises in electric motorcycles designed for deliveries, equipped with advanced fleet management software, has raised $1.5 million in pre-Series A funding round, led by Shorooq Partners. Indus Valley Capital and angel investors also participated in the investment round.
Transaction Type: Investment
Investors: Shorooq Partners, Indus Valley Capital, angel investors
Co-founders: Hassan Khan, Imran Afzal
Headquarters: United Arab Emirates (UAE)
Other News:
📌 Innovative Startups and SMEs Fund (ISSF) has increased its commitment to Oasis Ventures II fund (OVII) managed by Oasis500 from $3 million to $5 million.
📌 Fintech startup Banknbox has partnered with CSC Jordan to drive financial inclusion and offer joint advanced services to customers of both companies.
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