Weekly Startup Ecosystem Overview in the Middle East and North Africa (MENA) / October 20 – 26

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Last week, there were 6 investments in the MENA between October 20 – 26:


5 United Arab Emirates (UAE), 1 Kingdom of Saudi Arabia (KSA)

Sectors Received Investments:

3 Real Estate

1 Social Network

1 Mobility / Logistics

1 Insurance

News of the Week

🎯 Proptech startup Nomad Homes raised $20 million.

Nomad Homes, a software-enabled marketplace for residential real estate across Europe and the Middle East, has raised $20 million in Series A extension round, led by Acrew Capital01 AdvisorsHighSage VenturesAbstract VenturesPartechPrecursor VenturesPotluck Ventures, Knollwood and several undisclosed hedge funds also participated in the investment round.

Transaction Type: Investment

Investors: Acrew Capital, 01 Advisors, HighSage Ventures, Abstract Ventures, Partech, Precursor Ventures, Potluck Ventures, Knollwood, hedge funds

Co-founders: Damien Drap, Dan Piehler, Helen Chen

Headquarters: United Arab Emirates (UAE)

🎯 Digital real estate management platform Keyper raised $6.5 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 $6.5 million in Seed funding round. The investment round was led by Access Bridge Ventures and Vivium Holdings, with participation from MEVP and Jabbar Internet Group.

Transaction Type: Investment

Investors: Access Bridge Ventures, Vivium Holdings, MEVP, Jabbar Internet Group

Co-founders: Omar Abu Innab, Walid Shihabi

Headquarters: United Arab Emirates (UAE)

🎯 Rent-now-pay-later solution Ejari raised $1 million.

Ejari, which provides a rent-now-pay-later (RNPL) solution for residential rentals, addressing the need for more flexible payment options, has raised $1 million in pre-Seed funding round, led by Sanabil 500 MENA and Hambro Perks’ Oryx Fund. Several angel investors also participated in the investment round.

Transaction Type: Investment

Investors: Sanabil 500 MENA, Hambro Perks’ Oryx Fund, angel investors

Co-founders: Yazeed Al-Shamsi, Fahad Albedah, Mohammed Alkhelewy, Khalid Almunif

Headquarters: Kingdom of Saudi Arabia (KSA)

🎯 Location based group app Belong raised $1.5 million.

Belong, a social group app that allows local people to share, learn and gain knowledge on the topics they interested in most, has raised $1.5 million in pre-Series A funding round.

Transaction Type: Investment

Investors: –

Co-founders: Michael Askew, Matthew Gaziano

Headquarters: United Arab Emirates (UAE)

🎯 EV last mile startup Neo Mobility raised $10 million.

Neo Mobility, which offers last-mile solutions through all-electric last-mile logistics services, has raised $10 million in Seed funding round from Delta Corp HoldingsPyse Sustainability Fund and angel investors.

Transaction Type: Investment

Investors: Delta Corp Holdings, Pyse Sustainability Fund, angel investors

Co-founders: Abhishek Shah, Anish Garg

Headquarters: United Arab Emirates (UAE)

🎯 SaaS insurance technology platform Democrance raised funding.

Democrance, a SaaS insurance technology platform that helps insurers and insurance brokers digitize the insurance value chain, has raised funding from Wa’ed Ventures and Global Ventures.

Transaction Type: Investment

Investors: Wa’ed Ventures, Global Ventures

Co-founders: Alberto Pérez, Damian Dimmich, Michele Grosso

Headquarters: United Arab Emirates (UAE)

Other News:

📌 The ANAVA Fund of Funds, managed by Smart Capital in Tunisia, has pledged €5 million in the Titan Seed Fund I. The fund is dedicated to support deeptech startups in Tunisia.

📌 Private credit fund Ruya Private Capital I LP, managed by Ruya Partners, has received a $10 million investment from Saudi Venture Capital.

📌 Government administration firm NEOM, has launched a investment arm, called NEOM Investment Fund, which aims to support the buildout and development of NEOM’s 14 priority sectors.

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