Last week, there were 7 startup investments and 1 secondary transaction in the MENA between October 4 – 10:
Investments:
3 United Arab Emirates (UAE), 2 Kingdom of Saudi Arabia (KSA), 1 Kuwait, 1 Oman
Secondary Transactions:
1 Kingdom of Saudi Arabia (KSA)
Sectors Received Investments:
3 Financial Services
1 Proptech
1 Shipping
1 Software
1 E-Commerce
News of the Week
🎯 Fintech startup OCTA raised $2.25 million.
OCTA, which automates the process of collecting payments for SMEs, which improves cash flow management and reduces the pain of accounts receivable, has raised $2.25 million in pre-Seed funding round, co-led by Quona Capital and Sadu Capital. Sukna Ventures, Plus VC, 500 Global, Pawel Iwanow and Dom Monhardt also participated in the investment round.
Investors: Quona Capital, Sadu Capital, Sukna Ventures, Plus VC, 500 Global, Pawel Iwanow, Dom Monhardt
Co-founders: Jon Santillan, Nupur Mitta, Andrey Korchak
Headquarters: United Arab Emirates (UAE)
🎯 Payment solutions provider Krti raised $1.5 million.
Krti, which provides payment solutions for both online merchants and shoppers to empower the e-commerce sector, has raised $1.5 million in pre-Seed funding round from Core Vision Investment.
Transaction Type: Investment
Investors: Core Vision Investment
Co-founders: Abdulrahman Al Hammadi, Naser Boresli, Abdullah AlBaker
Headquarters: Kuwait
🎯 BNPL platform QPay raised funding.
QPay, which offers Buy Now Pay Later (BNPL) financial services in Oman, has raised an investment in Seed funding round from Cyfr Capital.
Transaction Type: Investment
Investors: Cyfr Capital
Co-founders: Khalid Al-Mahrooqi, Ali Al-Lawati
Headquarters: Oman
🎯 Proptech startup Ejari raised $14.65 million.
Ejari, which offers a rent now, pay later (RNPL) solution tailored for Saudi Arabia’s real estate rental market, has raised $14.65 million in Seed funding round from Partners for Growth (PFG), BECO Capital, anb seed, Rua Ventures, Alinma Bank (Alinma Pay), Vision Ventures, Aqar and Salica Oryx Fund.
Transaction Type: Investment
Investors: Partners for Growth (PFG), BECO Capital, anb seed, Rua Ventures, Alinma Bank (Alinma Pay), Vision Ventures, Aqar, Salica Oryx Fund
Co-founders: Yazeed Al-Shamsi, Fahad Albedah, Mohammed Alkhelewy,, Khalid Almunif
Headquarters: Kingdom of Saudi Arabia (KSA)
🎯 Dropshipping service 4Partners raised $3.6 million.
4Partners, which helps businesses launch and scale online stores by handling inventory, shipping, and order fulfilment through its network of warehouses in MENA, Europe, Asia and the USA, has raised $3.6 million from undisclosed investors.
Transaction Type: Investment
Investors: –
Co-founders: –
Headquarters: United Arab Emirates (UAE)
🎯 Decentralized data storage solutions provider Botanika raised $1.5 million.
Botanika, which builds an efficient, hyper-scalable, decentralized data storage network powered by its proprietary B1 hardware nodes, has raised $1.5 million from angel investors.
Transaction Type: Investment
Investors: Angel investors
Co-founders: –
Headquarters: United Arab Emirates (UAE)
🎯 E-commerce platform Yamm raised funding.
Yamm, an e-commerce platform that offers a method for refunding customers’ money, has raised an investment in pre-Seed funding round. The investment round was led by Flat6Labs, with participation from Judah Ventures and angel investors.
Transaction Type: Investment
Investors: Flat6Labs, Judah Ventures, angel investors
Co-founders: Sultan Al-Subhi, Mohammed Al-Shalati, and Hamadah Al-Khaldi
Headquarters: Kingdom of Saudi Arabia (KSA)
🛒 Nana acquires Rasseed.
Grocery shopping and delivery platform Nana has acquired e-commerce platform Rasseed.
Transaction Type: Acquisition
Investors: Nana
Co-founders: –
Headquarters: Kingdom of Saudi Arabia (KSA)
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