Weekly Startup Ecosystem Overview in the Middle East and North Africa (MENA) / May 17 – 23

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Last week, there were 8 startup investments in the MENA between May 17 – 23:


3 United Arab Emirates (UAE), 2 Kingdom of Saudi Arabia (KSA), 2 Egypt, 1 Jordan

Sectors Received Investments:

1 Property Management

1 E-Commerce

1 Consumer Electronics & Marketplace

1 Employee Benefits

1 Supply Chain & Logistics

1 Catering

1 Proptech

1 Financial Services & Lending

News of the Week

🎯 Digital property management platform Keyper raised $34 million.

Keyper, which offers a property management platform where tenants can track their expenses and charge online, and investors get real estate portfolios and access to data-driven insights, has raised $34 million in pre-Series A funding round, led by BECO Capital and Middle East Venture Partners. Vivium Holding, Jabbar Group, Signature Developers, Annex Investments, Pin Investment, and Al Qahtani Investment and angel investors also participated in the investment round.

Transaction Type: Investment

Investors: BECO Capital, Middle East Venture Partners, Vivium Holding, Jabbar Group, Signature Developers, Annex Investments, Pin Investment, and Al Qahtani Investment, angel investors

Co-founders: Omar Abu Innab, Walid Shihabi

Headquarters: United Arab Emirates (UAE)

🎯 B2B marketplace Plain Tiger raised $1.5 million.

Plain Tiger, which connects hotels with eco-friendly suppliers, saving them time, money, and reducing their environmental impact, has raised $1.5 million in Seed funding round from AngelSpark.

Transaction Type: Investment

Investors: AngelSpark

Co-founders: Alexandra Polson, Oliver Baillie

Headquarters: United Arab Emirates (UAE)

🎯 Electronics marketplace Revent raised $900.000.

Revent, which offers SMEs pre-owned devices on monthly subscriptions across the UAE and KSA, has raised $900.000 im pre-Seed funding round from Techstars and angel investors.

Transaction Type: Investment

Investors: Techstars, angel investors

Co-founders: Baldeep Singh, Dhananjay Choubey

Headquarters: United Arab Emirates (UAE)

🎯 SaaS provider Merit raised $12 million.

Merit, which assists businesses to increase customer and employee engagement via a suite of cloud-based SaaS platforms, enterprise solutions, applications, and software, has raised $12 million in pre-Series B funding round. The investment round was led by Alistithmar Capital i-Cap, with participation from Tech Invest Com and Hambro Perks Oryx Fund.

Transaction Type: Investment

Investors: Alistithmar Capital i-Cap, Tech Invest Com, Hambro Perks Oryx Fund

Co-founders: Julie Barbier-Leblan, Thrishan Padayachi

Headquarters: Kingdom of Saudi Arabia (KSA)

🎯 Supply chain and procurement management provider MDD raised funding.

MDD Saudi Arabia, which specialises in supply chain and procurement management, has closed its Series A round for a 5% stake with a valuation of $26 million.

Transaction Type: Investment



Headquarters: Kingdom of Saudi Arabia (KSA)

🎯 B2B marketplace OneOrder raised $16 million.

OneOrder, a B2B marketplace that connects restaurants to suppliers, offering them a platform to source food and their daily procurement needs directly from local suppliers, has raised $16 million in a mix of equity and debt financing round, led by Delivery Hero Ventures. Norrsken22, Nclude and A15 also participated in the investment round.

Transaction Type: Investment

Investors: Delivery Hero Ventures, Norrsken22, Nclude, A15

Co-founders: Tamer Amer, Karim Maurice

Headquarters: Egypt

🎯 Rental management solutions provider Birdnest raised funding.

Birdnest, which offers innovative furnishing services and rental management solutions to ensure maximum returns for real estate investors and value for tenants, has raised an investment in Series A funding round  for a 20% stake in the company. The investment round was led by Beltone Venture Capital and CI Venture Capital.

Transaction Type: Investment

Investors: Beltone Venture Capital, CI Venture Capital

Co-founders: Mostafa El-Nahawy, Ahmed Fadda

Headquarters: Egypt

🎯 P2P lending network liwwa raised $5 million.

liwwa, a peer-to-peer (P2P) lending network that connects investors and small businesses through smart business loans, has raised $5 million from United States International Development Finance Corporation.

Transaction Type: Investment

Investors: United States International Development Finance Corporation

Co-founders: Ahmed Moor, Samer Atiani

Headquarters: Jordan

Other News:

📌 Riyad Capital, has launched the “1957 Ventures” investment fund to drive transformative growth in Saudi Arabia’s fintech sector.

📌 Cash for Microfinance, a subsidiary of Beltone Holding, has partnered with Microfinanza Italia to launch a $2.4 million project for the economic support and empowerment of Egyptian entrepreneurs.

📌 Egypt’s investment bank EFG Hermes has acquired a minority stake in the Danish digital wealth manager “Kenzi Wealth” for an unknown value.

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