Last week, there were 5 startup investments in the MENA between September 6 – 12:
Investments:
2 Kingdom of Saudi Arabia (KSA), 1 United Arab Emirates (UAE), 1 Egypt, 1 Oman
Sectors Received Investments:
2 Financial Services
1 Cloud Kitchen
1 Gifting
1 Proptech
News of the Week
🎯 Financing solution platform FlapKap raised $34 million.
FlapKap, which offers revenue-based and embedded finance solutions to assist SMEs in increasing their inventory and digital ads with quick cash and the option to pay later, has raised $34 million in pre-Series A funding round, led by BECO Capital. Pact VC, A15, Nclude, QED Investors and Channel Capital also participated in the investment round.
Transaction Type: Investment
Investors: BECO Capital, Pact VC, A15, Nclude, QED Investors, Channel Capital
Co-founders: Ahmad Coucha, Khaled Nassef, Sherif Bichara, Kunal Harisinghani
Headquarters: United Arab Emirates (UAE)
🎯 Digital payments solution Paymob raised $22 million.
Paymob, which provides online and offline merchants with digital payment solutions, has raised $22 million in Series B extension round. The investment round was led by EBRD Venture Capital, with participation from Endeavor Catalyst, PayPal Ventures, BII, FMO, A15, Nclude and Helios Digital Ventures.
Transaction Type: Investment
Investors: EBRD Venture Capital, Endeavor Catalyst, PayPal Ventures, BII, FMO, A15, Nclude, Helios Digital Ventures
Co-founders: Islam Shawky, Alain El Hajj, Mostafa El Menessy
Headquarters: Egypt
🎯 Cloud kitchen platform IO Kitchens raised $2.8 million.
IO Kitchens, which offers a diverse range of delivery-only meals. It currently operates three cloud kitchens and a portfolio of over 30 F&B brands, has raised $2.8 million in Seed funding round from Tanmia Small-Cap Fund, family offices and regional investors.
Transaction Type: Investment
Investors: Tanmia Small-Cap Fund, family offices, regional investors
Co-founders: Hisham Hasan
Headquarters: Oman
🎯 Gifting platfrom Regards raised $1.5 million.
Regards, which specializes in premium experience gifting, has raised $1.5 million in Seed funding round from Core Vision Investment.
Transaction Type: Investment
Investors: Core Vision Investment
Co-founders: Yasser Aljumaiah, Sultan Binjumah, Saad Almazroua
Headquarters: Kingdom of Saudi Arabia (KSA)
🎯 Proptech startup HissaTech raised $670.000.
HissaTech, which allows individuals to co-own properties, offering rental income and potential capital gains while lowering barriers to entry for smaller investors, has raised $670.000 in pre-Seed funding round from angel investors.
Transaction Type: Investment
Investors: Angel investors
Co-founders: Ali Alshareef
Headquarters: Kingdom of Saudi Arabia (KSA)
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