Egypt-based Sawari Ventures will launch its second fund, Sawari Ventures II, in early 2025, targeting $200 mil ..Read More

Egypt-based Sawari Ventures will launch its second fund, Sawari Ventures II, in early 2025, targeting $200 million. The fund will invest 70% in Egyptian startups at Series A and B stages, with the rest directed to Kenya, West Africa, and other international markets. Founded in 2010, Sawari Ventures has supported over 30 companies, including Swvl, MoneyFellows, and Instabug.
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• Series A
• Series B
• Startups

Mobility startup invygo, based in Saudi Arabia, has secured an $8 million Series A extension led by STV's NICE ..Read More

Mobility startup invygo, based in Saudi Arabia, has secured an $8 million Series A extension led by STV's NICE Fund, with participation from investors such as Al Rajhi Partners and Arab Bank Ventures. Founded in 2019 by Eslam Hussein and Pulkit Ganjoo, invygo operates in Saudi Arabia, UAE, and Qatar, offering an app-based service for choosing, driving, and swapping cars. With over $22 million in total funding, the company is on course to achieve profitability by the end of FY 2024.
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• Transport

Prypco, a UAE-based proptech founded in 2022 by Amira Sajwani, has raised $10 million in Seed funding led by S ..Read More

Prypco, a UAE-based proptech founded in 2022 by Amira Sajwani, has raised $10 million in Seed funding led by Shorooq Partners, with participation from Apparel Group and others. Focused on simplifying real estate ownership, Prypco offers services through four verticals: Prypco Blocks, Prypco Mortgage, Prypco Exclusives, and Prypco Golden Visa. With Prypco Mortgage already disbursing over $136 million in home loans, the new funding will drive the company’s growth and support its expansion plans.
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• Proptech

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

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

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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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