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

South Africa-based e-commerce logistics startup Pargo has entered the Egyptian market following a $4 million i ..Read More

South Africa-based e-commerce logistics startup Pargo has entered the Egyptian market following a $4 million investment led by 3Capital Ventures, Endeavor, SAAD Investment Holdings, and UW Ventures. Established in 2014 by Derk Hoekert and Lars Veul, Pargo provides innovative delivery solutions designed to strengthen e-commerce across Africa. As part of this expansion, Pargo has introduced collection and return service points throughout Egypt.
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• Ecommerce
• Logistics

Morocco-based cross-border logistics startup, Colis.ma secured $0.3M in pre-Seed funding from Witamax, an inve ..Read More

Morocco-based cross-border logistics startup, Colis.ma secured $0.3M in pre-Seed funding from Witamax, an investment firm jointly created by Southbridge A&I and AXXAM Family Office and is managed by WITA Ventures. The investment will support Colis.ma in expanding its logistics coverage across Morocco’s five largest regions and six key European countries. Additionally, the funding will fuel plans to extend its reach into West Africa, aligning with its vision to enhance connectivity between African nations and Europe.
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• Logistics

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

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

UAE-based e-commerce platform Best Kept Shared acquired peer-to-peer fashion resale platform BAZAARA for an un ..Read More

UAE-based e-commerce platform Best Kept Shared acquired peer-to-peer fashion resale platform BAZAARA for an undisclosed amount. The acquisition strengthens Best Kept Shared's presence in the P2P fashion market by integrating BAZAARA’s network into its existing platform. This move expands the platform's offerings, providing customers with enhanced options for buying, selling, and renting pre-owned fashion items.
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• Ecommerce

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