Weekly Startup Ecosystem Overview in the Middle East and North Africa (MENA) / September 29 – October 5

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Last week, there were 5 investments in the MENA between September 29 – October 5:


2 Kingdom of Saudi Arabia (KSA), 1 United States, 1 Jordan


1 Egypt-based VC firm invests in a Senegal-based startup.

Sectors Received Investments:

2 Financial Services

1 Artificial Intelligence / PaaS

1 Human Resources

1 Artificial Intelligence / SaaS

News of the Week

🎯 Payment orchestration platform MoneyHash raised funding.

MoneyHash, which allows companies to build a payment stack that fits their needs, has secured new funding from Tom Preston-Werner, co-founder of GitHub, as part of an undisclosed seed financing round.

Transaction Type: Investment

Investors: Tom Preston-Werner

Co-founders: Nader Abdelrazik, Mustafa Eid, Anisha Sekar

Headquarters: United States (US)

🎯 Fintech startup Capifly raised $1 million.

Capifly, which offers rapid, non-dilutive finance to developing technology companies in exchange for yearly recurring revenue, has raised $1 million in pre-Seed funding round from Oasis500BLDR VenturesJoa CapitalAhli Fintech, along with other angel investors from Jordan and KSA.

Transaction Type: Investment

Investors: Oasis500, BLDR Ventures, Joa Capital, Ahli Fintech, angel investors

Co-founders: Dunya Bashiti

Headquarters: Jordan

🎯 Deeptech startup Intella raised $3.4 million.

Intella, which offers real-time, on-demand market research for its business clients across diverse sectors, has raised $3.4 million in pre-Series A funding round, led by HALA Ventures and Wa’ed Ventures. Sanabil500, INSEAD’s alumni angel network and other investors also participated in the investment round.

Transaction Type: Investment

Investors: HALA Ventures, Wa’ed Ventures, Sanabil500, INSEAD’s alumni angel network, other investors

Co-founders: Nour Taher, Omar Mansour

Headquarters: Kingdom of Saudi Arabia (KSA) / Egypt

🎯 Human resources platform Jisr raised $30 million.

Jisr, a human resources management platform that offers HR solutions, time and attendance, reports, benefits and payroll services, has raised $30 million in Series A funding round from Merak Capital.

Transaction Type: Investment

Investors: Merak Capital

Co-founders: Mohammed Akkar

Headquarters: Kingdom of Saudi Arabia (KSA)

🎯 AI-based intelligence platform Lengo raised funding.

Egypt-based VC firm Acasia Ventures has led a pre-Seed funding round in Senegal-based ai-based intelligence platform Lengo. The investment round was co-led by Ventures Platform, with participation from P1 VenturesLaunch AfricaVoltron Capital and a number of other VCs and angel investors.

Transaction Type: Investment

Investors: Acasia Ventures, Ventures Platform, P1 Ventures, Launch Africa, Voltron Capital, other investors

Co-founders: Max Smith, Roger Xavier Macia, Ismaila Seck

Headquarters: Senegal

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