NEWS

November 21, 2020 - 09:46 PM

Unity Retail, a Pakistani logistics aggregator for online sellers raises six-figure seed

Karachi-based ecommerce enablement startup Unity Retail has raised a six-figure (USD) seed round from a local investment firm Boston Equity Partners, it announced in a statement earlier this week to MENAbytes. Founded in 2017 by Mohammed Atif Sami and Syed Shoaib Ahsan, Unity Retail helps online...

Rain raises $6 million Series A from MEVP & Coinbase to grow its Middle Eastern cryptocurrency exchange

Bahrain-headquartered cryptocurrency exchange Rain has raised $6 million in a Series A round led by Middle East Venture Partners (MEVP), it announced in a statement to MENAbytes today. The round also saw participation of different new and existing investors including Coinbase which is the largest...

Delivery Hero launches DX Ventures, a $60 million early-stage fund to invest in global startups

Delivery Hero, the Berlin-headquartered global food (and grocery) delivery giant has launched an independently managed early-stage venture capital fund, DX Ventures, to invest in startups all around the world. The fund has launched with $60 million (€50 million) of capital from Delivery Hero that...

Checkout.com triples valuation to $15 billion with a new funding round

London-headquartered fintech Checkout.com that enables merchants of different sizes to accept online payments has hit a $15 billion valuation (post-money) in its latest funding round, it announced in a statement today. The company that has a significant presence in the Middle East & North...

Dubai fintech Sarwa expands its investment advisory platform to Saudi after receiving fintech experimental permit

Dubai-based investment advisory platform Sarwa is expanding to Saudi Arabia after receiving the fintech experimental permit from Saudi’s Capital Markets Authority (CMA), it announced in a statement today. The development comes almost a year after Sarwa raised $8.4 million in one of the largest...

Access Bridge Ventures launches with first close of its debut fund to invest in MENAP startups

Abu Dhabi-based early-stage VC firm Access Bridge Ventures has announced the launch and first close of its $25 million debut fund today. The firm did not disclose the exact size but told MENAbytes that it is a significant first close and it aims to hit the final close in a year. The team behind...

Saudi Central Bank issues Open Banking policy, aims to go live in 2022

SAMA, the Saudi Central Bank (previously known as Saudi Arabian Monetary Agency) has issued the Open Banking policy today listing the objectives and benefits of it for the local financial sector. The move is part of a series of different initiatives that SAMA has introduced over the last three...

Turkey’s Inofab Health raises $1 million to grow its respiratory healthcare platform

Turkish healthcare startup Inofab Health has raised $1 million in fresh funds from three local investors; including Re-Pie Asset Management Co. (First Diversified Venture Capital Investment Fund), Teknoloji Yatırım, and Fark Labs, it announced in a statement on Thursday. Founded in 2014 by Merthan...

Saudi’s Ejaro raises $850,000 seed for its peer-to-peer car sharing platform

Jeddah-based peer-to-peer (P2P) vehicle-sharing platform Ejaro has raised $850,000 in a seed round, it announced in a statement today to MENAbytes. The money came from angel investors and a local venture studio BIM Ventures. Founded in 2019 by Mohammed Khashoggi, Ejaro is basically an Airbnb for...

Anghami raises fresh funds from Shuaa Capital as part of an ongoing $50 million round

Anghami, the Beirut-headquartered leading music streaming service of the Middle East & North Africa has raised fresh funds from UAE’s Shuaa Capital, the company and investment firm announced in a joint statement on Tuesday, without disclosing the size of the deal. The investment is part of an...

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