Saudi Arabia-based fintech, Mala has raised $7 million in a pre-Seed round led by VentureSouq and Shorooq Part ..Read More

Saudi Arabia-based fintech, Mala has raised $7 million in a pre-Seed round led by VentureSouq and Shorooq Partners, with participation from M Capital, BECO Capital, and Silicon Valley’s D Global Ventures. Founded by Musaab Hakami in 2024, Mala offers SMEs a B2B procure-now-pay-later (PNPL) platform that provides flexible credit terms while ensuring immediate payments to suppliers. This funding will support Mala’s official launch in Saudi Arabia in Q4 2024.
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• Fintech

UAE-based fintech Abhi has secured $15 million in debt financing led by Shorooq Partners and Amplify Growth Pa ..Read More

UAE-based fintech Abhi has secured $15 million in debt financing led by Shorooq Partners and Amplify Growth Partnership. Founded in Pakistan in 2021 by Ali Ladhubhai and Omair Ansari, Abhi focuses on financial inclusion for employees and SMEs in the MENAP region. The new funds will help Abhi scale operations and expand its earned wage access (EWA) services for blue- and white-collar workers.
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• Fintech

Spain-based Moonbase Capital has launched a $15 million fund to support entrepreneurs in acquiring and scaling ..Read More

Spain-based Moonbase Capital has launched a $15 million fund to support entrepreneurs in acquiring and scaling small to medium-sized businesses worldwide. Led by Tamer El Bahay and Tarek El Gammal, the fund aims to invest in approximately 15 SMEs across emerging markets like Latin America, Southeast Asia, and the Middle East over the next three to four years. Fundraising, expected to reach a first close in Q1 2025, will draw capital primarily from family offices and high-net-worth individuals in Europe, Egypt, and the GCC.
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Saudi Venture Capital (SVC) has invested $15 million in Vision Ventures' Saqr Fund II, a venture capital fund ..Read More

Saudi Venture Capital (SVC) has invested $15 million in Vision Ventures' Saqr Fund II, a venture capital fund targeting $90 million to back early-stage firms from pre-Seed to pre-Series B across Saudi Arabia and the MENA region. Founded in 2016 by Haitham BuAisha and Kais Al-Essa, Vision Ventures is a sector-agnostic VC firm focused on early-stage tech startups in the region.
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• Venture Capital

JARAS Hospitality has raised $0.67M in pre-Seed funding to fuel its growth in the hospitality management secto ..Read More

JARAS Hospitality has raised $0.67M in pre-Seed funding to fuel its growth in the hospitality management sector. The funds will be utilized to enhance its integrated platform for hotel bookings, unit management, and pricing optimization, ensuring alignment with market needs. This investment also aims to support ARAS in expanding its customer base and accelerating its growth trajectory.
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• Hospitality

UAE-based podcast distribution platform, Podeo raised $5.4 million in Series A funding, led by Oraseya Capital ..Read More

UAE-based podcast distribution platform, Podeo raised $5.4 million in Series A funding, led by Oraseya Capital. After amassing 50 million subscribers, Podeo aims to expand into Latin America, Eastern Europe, and Southeast Asia. Other participants in this round include Ibtikar Fund, Cedar Mundi Ventures, Samarium, iSME, and Razor Capital.
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• Media & Entertainment

Amplify Growth Partnership launched a $100 million growth debt fund to support tech-focused companies in the M ..Read More

Amplify Growth Partnership launched a $100 million growth debt fund to support tech-focused companies in the MENA region, particularly in the GCC. Established in partnership with Ajeej Capital and Nuwa Capital, the fund is led by Sharaf Sharaf and has already closed its first deal with a fintech company in Saudi Arabia.
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• Tech-focussed

The European Bank for Reconstruction and Development (EBRD) invested $3 million in Ibtikar Fund II to support ..Read More

The European Bank for Reconstruction and Development (EBRD) invested $3 million in Ibtikar Fund II to support up to 25 early-stage Palestinian tech companies. The fund has successfully raised $25 million, exceeding its $15 million target and doubling its previous size, aiming to drive digitalization and job creation in Palestine.
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• Tech-focused