Weekly Startup Ecosystem Overview in the Middle East and North Africa (MENA) / May 10 – 16

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Last week, there were 6 startup investments in the MENA between May 10 – 16:


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

Sectors Received Investments:

2 Financial Services

1 Logistics

1 Property Management & CRM

1 E-Commerce & Eyewear

1 Clean Tech

News of the Week

🎯 Fintech startup MNZL raised $3.5 million.

MNZL, which allows users to transform their assets like homes and cars into liquidity for their projects and needs, has raised $3.5 million in Seed funding round, led by P1 Ventures and Localglobe. Ingressive Capital, 500 Startups, Flat6Labs, First Circle Capital, ENZA Capital, Beenok and angel investors also participated in the investment round.

Transaction Type: Investment

Investors: P1 Ventures, Localglobe, Ingressive Capital, 500 Startups, Flat6Labs, First Circle Capital, ENZA Capital, Beenok, angel investors

Co-founders: Sameh Saleh, Ahmed Eldessouky, Bassem El Shaer

Headquarters: Egypt

🎯 Data analysis platform Lune raised $1.5 million.

Lune, which enables banks, fintechs, and financial institutions to turn the transaction data of their customers into useful insights for them, has raised $1.5 million in Seed funding round from Dubai Future District Fund, Plus Venture CapitalReach International, Judah Ventures and angel investors.

Transaction Type: Investment

Investors: Dubai Future District Fund, Plus Venture Capital,  Reach International, Judah Ventures, angel investors

Co-founders: Helal Tariq Lootah, Alexandre Soued

Headquarters: United Arab Emirates (UAE)

🎯 Portable storage solutions provider WheeKeep raised $8 million.

WheeKeep, which provides mobile self-storage units tailored for both individuals and businesses, has raised $1.5 million in Series A funding. The investment round was led by Fintech Collective, with participation from other investors.

Transaction Type: Investment

Investors: Fintech Collective, other investors

Co-founders: Sultan Alolayan, Amr Almarzouki, Youssuf Fayez

Headquarters: Kingdom of Saudi Arabia (KSA)

🎯 Online real estate platform Property Finder raised $90 million.

Property Finder, an online real estate platform connecting buyers, sellers, and renters with properties in the MENA region, has raised $90 million in debt financing round from Francisco Partners.

Transaction Type: Investment

Investors: Francisco Partners

Co-founders: Michael Lahyani, Renan Bourdeau

Headquarters: United Arab Emirates (UAE)

🎯 Eyewear startup Eyewa raised funding.

Eyewa, which offers prescription contact lenses, color contact lenses, sunglasses, and eyeglasses, has raised funding from General Atlantic.

Transaction Type: Investment

Investors: General Atlantic

Co-founders: Mehdi Oudghiri, Anass Boumediene

Headquarters: United Arab Emirates (UAE)

🎯 Sustainable water solutions provider Airwater Co. raised funding.

Air Water Co., a water purification company that produces and supplies drinking water, has raised funding from Tau Capital.

Transaction Type: Investment

Investors: Tau Capital

Co-founders: Alex Guy

Headquarters: United Arab Emirates (UAE)

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