Last week, there were 7 startup investments in the MENA between September 6 – 12:
Investments:
2 Egypt, 2 Kingdom of Saudi Arabia (KSA), 2 United Arab Emirates (UAE), 1 Algeria
Sectors Received Investments:
2 Financial Services
2 EdTech
1 Automotive
1 Proptech
1 B2B
News of the Week
🎯 B2B payment platform Settle raised $2 million.
Settle, a web-based B2B payment platform that modernises financial operations for enterprises, has raised $2 million in pre-Seed funding round, led by Shorooq Partners. El Sewedy Capital Holding, Acasia Ventures and Plus VC also participated in the investment round.
Transaction Type: Investment
Investors: Shorooq Partners, El Sewedy Capital Holding, Acasia Ventures, Plus VC
Co-founders: Kamil Sayour, Mostafa Mobarak
Headquarters: Egypt
🎯 Fintech startup UmrahCash raised $500.000.
UmrahCash, which enables easy access to Saudi Riyals for pilgrims in Mecca, Medina, and Jeddah, where they can make payments in their home countries and receive Saudi Riyals upon arrival in the Kingdom, has raised $500.000 from Adaverse.
Investors: Adaverse
Co-founders: William Phelps
Headquarters: Kingdom of Saudi Arabia (KSA)
🎯 Edtech startup LabLabee raised $3.4 million.
LabLabee, which offers practical, hands-on learning experiences focussing on cutting-edge network technologies, has raised $3.4 million in Seed funding round from Reach Capital, Classera, Brighteye Ventures, e& capital, Cedric Sellin and Mohammed Husamaddin.
Transaction Type: Investment
Investors: Reach Capital, Classera, Brighteye Ventures, e& capital, Cedric Sellin, Mohammed Husamaddin
Co-founders: Samir Tahraoui, Mahfoud Sidi Ali Mebarek
Headquarters: Algeria
🎯 Edtech platform Farid raised $250.000.
Farid, which focusses on character education and mental health support for children and youth aged 3 to 18 years, has raised $250.000 in pre-Seed funding round from Amal bint Abdulaziz Al-Ajlan.
Transaction Type: Investment
Investors: Amal bint Abdulaziz Al-Ajlan
Co-founders: Mahmoud Hussein
Headquarters: Egypt
🎯 Online buying platform Seez raised $4.2 million.
Seez, an automotive tech company that provides car dealerships and OEMs with software solutions to improve their customer experience and increase sales, has raised $4.2 million from several international investors.
Transaction Type: Investment
Investors: –
Co-founders: Tarek Kabrit, Andrew Kabrit
Headquarters: United Arab Emirates (UAE)
🎯 Property management platform Darent raised funding.
Darent, a property management tool for rental properties that allows owners to list their units on the platform, connecting them to tenants, has raised an investment in Seed funding round. The investment round was led by Al Tawuniya Insurance, with participation from Morgan Stanley Inclusive Ventures Lab and BIM Ventures.
Investors: Al Tawuniya Insurance, Morgan Stanley Inclusive Ventures Lab, BIM Ventures
Co-founders: Hanin Al-Subaie
Headquarters: Kingdom of Saudi Arabia (KSA)
🎯 B2B marketplace Plain Tiger raised funding.
Plain Tiger, a B2B marketplace that enables hotels to discover and buy from verified sustainable suppliers quickly and cost-effectively, has raised an investment from COREangelsMEA.
Transaction Type: Investment
Investors: COREangelsMEA
Co-founders: Alexandra Polson, Oliver Baillie
Headquarters: United Arab Emirates (UAE)
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