Last week, there were 5 startup investments and 1 secondary transaction in the MENA between October 18 – 25:
Investments:
3 United Arab Emirates (UAE), 1 Kingdom of Saudi Arabia (KSA), 1 Morocco
Secondary Transactions:
1 United Arab Emirates (UAE)
Sectors Received Investments:
1 Financial Services
1 Proptech
1 Car Sharing & E-Commerce
1 B2B
1 Logistics
News of the Week
🎯 Fintech startup Abhi raised $15 million.
Abhi, a fintech that focuses on financial inclusion for employees and SMEs throughout the MENAP region, has raised $15 million in debt financing from Shorooq Partners and Amplify Growth Partnership.
Transaction Type: Investment
Investors: Shorooq Partners, Amplify Growth Partnership
Co-founders: Ali Ladhubhai, Omair Ansari
Headquarters: United Arab Emirates (UAE)
🎯 Real estate ecosystem Prypco raised $10 million.
Prypco, which facilitates owning real estate through its four-veritcal offers: Prypco Blocks, Prypco Mortgage, Prypco Exclusives, and Prypco Golden Visa, has raised $10 million in Seed funding round from Shorooq Partners, Apparel Group and other investors.
Transaction Type: Investment
Investors: Shorooq Partners, Apparel Group, other investors
Co-founders: Amira Sajwani
Headquarters: United Arab Emirates (UAE)
🎯 Car subscription platform invygo raised $8 million.
Ganjoo, is an app-based service that allows people to choose, drive, swap, and own cars with presence in KSA, UAE, and Qatar, has raised $8 million in Series A funding round from NICE Fund, Al Rajhi Partners, Arab Bank Ventures, SPV, MEVP and C5.
Transaction Type: Investment
Investors: NICE Fund, Al Rajhi Partners, Arab Bank Ventures, SPV, MEVP, C5
Co-founders: Eslam Hussein, Pulkit Ganjoo
Headquarters: United Arab Emirates (UAE)
🎯 B2B BNPL platform Mala raised $7 million.
Mala, a B2B platform that offers SMEs a procure-now-pay-later (PNPL) solution with flexible credit terms while ensuring suppliers receive immediate cash payments, has raised $7 million in pre-Seed funding round from VentureSouq, Shorooq Partners, M Capital, BECO Capital, Access Bridge Ventures, Waad Investment, Palm Ventures and D Global Ventures.
Transaction Type: Investment
Investors: VentureSouq, Shorooq Partners, M Capital, BECO Capital, Access Bridge Ventures, Waad Investment, Palm Ventures, D Global Ventures
Co-founders: Musaab Hakami
Headquarters: Kingdom of Saudi Arabia (KSA)
🎯 Cross-border logistics startup Colis.ma raised $300.000.
Colis.ma, which specialises in cross-border logistics that targets both individuals and SMEs, with a vision to connect more African countries with the European continent, has raised $300.000 in pre-Seed from Witamax.
Transaction Type: Investment
Investors: Witamax
Co-founders: Issam Darui
Headquarters: Morocco
E-commerce platform Best Kept Shared has acquired P2P fashion resale platform BAZAARA.
Transaction Type: Acquisition
Investors: Best Kept Shared
Co-founders: Alyssa Mariano
Headquarters: United Arab Emirates (UAE)
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