Weekly Startup Ecosystem Overview in the Middle East and North Africa (MENA) / May 24 – 30

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Last week, there were 3 startup investments in the MENA between May 24 – 30:


3 United Arab Emirates (UAE)

Sectors Received Investments:

1 Proptech

1 Personal Finance

1 Enterprise Software

News of the Week

🎯 Proptech startup Huspy raised funding.

Huspy, which facilitates the home buying and financing process through its online marketplace, has raised funding. The investment round was led by Balderton Capital, with participation from Fifth Wall and other investors.

Transaction Type: Investment

Investors: Balderton Capital, Fifth Wall, other investors

Co-founders: Jad Antoun, Khalid Ashmawy

Headquarters: United Arab Emirates (UAE)

🎯 Digital mortgage platform Holo raised funding.

Holo, which aims to simplify the process of owning a home by offering digital mortgage services where buyers and homeowners can explore refinancing options, has raised an investment in pre-Series A funding round, led by DFDF. Oryx Fund and Aditum Investment Management Limited also participated in the investment round.

Transaction Type: Investment

Investors: DFDF, Oryx Fund, Aditum Investment Management Limited

Co-founders: Michael Hunter, Arran Summerhill

Headquarters: United Arab Emirates (UAE)

🎯 Unified commerce platform GrubTech raised $15 million.

GrubTech, a SaaS integration and unified commerce platform that provides restaurants and cloud kitchens with a software solution to streamline their operations, has raised $15 million in Series B funding round, led by Jahez. Addition and Hambro Perks Oryx Fund also participated in the investment round.

Transaction Type: Investment

Investors: Jahez, Addition, Hambro Perks Oryx Fund

Co-founders: Mohamed Al Fayed, Omar Rifai, Mohamed Hamedi

Headquarters: United Arab Emirates (UAE)

Other News:

📌 VC studio BIM Ventures has partnered with Japan’s SBI Holdings to launch a $100 million joint investment fund aiming to back Saudi startups.

📌 Shorooq Partners has announced the first close of its $100 million second private credit fund, in collaboration with Korea’s IMM Investment Global, which joined the fund as a minority partner.

📌 Fintech startup Mamun has partnered with Jordanian fintech startup Numa with the aim of providing freelancers and creators access to finance and wealth products.

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