Last week, there were 2 startup investments and 1 secondary transaction in the MENA between May 3 – 9:
Investments:
1 Egypt, 1 United Arab Emirates (UAE)
Secondary Transactions:
1 United Arab Emirates (UAE)
Sectors Received Investments:
1 Financial Services
1 Educational Technologies
News of the Week
🎯 Financial management platform Swypex raised $4 million.
Swypex, a B2B all-in-one financial management platform that consolidates payments, invoice management and smart corporate cards, has raised $4 million in Seed funding round. The investment round was led by Accel, with participation from Foundation Ventures, The Raba Partnership and angel investors.
Transaction Type: Investment
Investors: Accel, Foundation Ventures, The Raba Partnership, angel investors
Co-founders: Ahmad Mokhtar, Tarek Mokhtar, Sasan Hezarkhani
Headquarters: Egypt
🎯 EdTech platform SecureMyScholarship raised $550.000.
SecureMyScholarship, which connects students with scholarship opportunities, has raised $550.000 in bridge funding round with $6 million valuation. The investment round was joined by Kaustubh Wagle, Ramit Harisinghani and Sabban Corp Investments.
Investors: Kaustubh Wagle, Ramit Harisinghani, Sabban Corp Investments
Co-founders: Craig Fernandes
Headquarters: United Arab Emirates (UAE)
🛒 Dubizzle acquires Drive Arabia.
Online classifieds platform Dubizzle Group has acquired automotive platform DriveArabia.
Transaction Type: Acquisition
Investors: Dubizzle Group
Co-founders: –
Headquarters: United Arab Emirates (UAE)
Other News:
📌 US-based Egyptian fintech MoneyHash has partnered with Visa to deliver secure and enhanced digital payment experiences.
📌 PTS Investments Holdings Inc. has partnered with Borg El Arab Technological University (BTU) to launch an extensive digital platform catering to technical education students and graduates.
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