Weekly Startup Ecosystem Overview in the Middle East and North Africa (MENA) / May 3 – 9

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Last week, there were 2 startup investments and 1 secondary transaction in the MENA between May 3 – 9:


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.

Transaction Type: Investment

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


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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