Last week, there were 3 startup investments in the MENA between June 21 – 27:
Investments:
1 Egypt, 1 United Arab Emirates (UAE), 1 Iraq
Sectors Received Investments:
2 Financial Services
1 Food Delivery
News of the Week
🎯 Digital payments platform Connect Money raised $8 million.
Connect Money, which offers a white-label card issuing platform that enables businesses to provide their customers with debit and credit cards without the need to develop fintech infrastructure or obtain regulatory licensing, has raised $8 million in Seed funding round, led by Disruptech Ventures and Algebra Ventures. One Stop Capital and MDP also participated in the investment round.
Transaction Type: Investment
Investors: Disruptech Ventures, Algebra Ventures, One Stop Capital, MDP
Co-founders: Ayman Essawy, Marwan Kenawy, Momtaz Moussa
Headquarters: Egypt
🎯 B2B payments platform Comfi raised $5 million.
Comfi, a B2B payments platform that empowers manufacturers and suppliers with flexible payment solutions for their buyers, while ensuring upfront payments, has raised $5 million in debt financing round from Abu Dhabi-based private family office.
Transaction Type: Investment
Investors: Private family office
Co-founders: Alisher Akbarov, Amal Abdullaev, Sanjar Samiev
Headquarters: United Arab Emirates (UAE)
🎯 Last mile delivery services provider Alsaree3 raised funding.
Alsaree3, which offers restaurants a user-friendly platform that makes food ordering and delivery seamless and accessible, has raised an investment on Series A funding round from Iraq Venture Partners (IVP), Euphrates Ventures and Snoonu.
Transaction Type: Investment
Investors: Iraq Venture Partners (IVP), Euphrates Ventures, Snoonu
Co-founders: Bassam Al-Ateia
Headquarters: Iraq
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