Lebanon-founded music streaming app Anghami Inc. secured a $55 million funding round from OSN Group, including ..Read More

Lebanon-founded music streaming app Anghami Inc. secured a $55 million funding round from OSN Group, including $12 million in an initial investment through a convertible note programme. OSN+, owned by Kuwait Projects Company Holding (KIPCO), merged with Anghami in April, acquiring a 55.45% majority stake. This investment aimed to accelerate the growth of both Anghami and OSN+, supporting the expansion of their content libraries. In March 2024, Saudi Arabia's MBC Group acquired a 13.7% stake in Anghami, which went public on the US NASDAQ last year.
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• Media & Entertainment

UAE-based fintech CredibleX secured $55 million in Seed funding through a combination of equity and debt. The ..Read More

UAE-based fintech CredibleX secured $55 million in Seed funding through a combination of equity and debt. The round included equity investment from Further Ventures and debt financing from Kilgour Williams Capital, Berkley Square Finance, and other providers. Founded in 2023 by Ahmad Malik, Anand Nagaraj, and Hassan Reda, the funding was aimed at accelerating CredibleX’s growth and expanding its tailored financial services for SMEs.
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• Fintech

UAE-based refurbished electronics marketplace, Revibe secured $7 million in a Series A funding round co-led by ..Read More

UAE-based refurbished electronics marketplace, Revibe secured $7 million in a Series A funding round co-led by ISAI and Resonance, with participation from Kima Ventures and Edouard Mendy. Founded in 2022 by Abdessamad Benzakour and Hamza Iraqui, the B2C marketplace operates in KSA, UAE, Kuwait, and South Africa. This funding followed the $2.3 million raised in a seed round last year, supporting Revibe’s efforts to expand in emerging markets and enhance its customer care and quality assurance teams.
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• Lifestyle and Home Improvement

Jordan-headquartered SaaS startup, InvoiceQ raised $1.2 million in a pre-Series A funding round, backed by Oas ..Read More

Jordan-headquartered SaaS startup, InvoiceQ raised $1.2 million in a pre-Series A funding round, backed by Oasis 500, Orange VC, Flat6Labs, Natej Soft, and several angel investors. Founded in 2020 by Muhannad Tobal, Fadi Al-Jabali, Amer Ayyad, and Mohammad Baseet, the company previously secured $440,000 in 2022 from Jordan Ahli Bank's accelerator, Ahli Fintech. The latest funding was directed towards InvoiceQ’s geographic expansion plans, targeting markets in Oman, Egypt, the UAE, and the wider GCC.
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• Information Technology

UAE-based Web3 banking startup, Klickl closed a $25 million Series A funding round at a valuation of $125 mill ..Read More

UAE-based Web3 banking startup, Klickl closed a $25 million Series A funding round at a valuation of $125 million. The round was co-led by Web3Port Foundation and Aptos Labs, with participation from Summer Ventures, Heritage Horizon Capital, V2 Capital, Alpha Square Group, Heng Feng Group, Trend Investment, and Bond Group. Founded in 2017 by Michael Zhao, Klickl is a Web3 open finance platform offering banking, digital payments, and crypto trading to enable seamless entry into Web3. The funding will enable Klickl to expand its Web3 banking services, focusing on emerging markets across MENA and beyond.
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• Fintech

Bahrain-based Unipal, a platform focused on enhancing university student experiences, successfully closed its ..Read More

Bahrain-based Unipal, a platform focused on enhancing university student experiences, successfully closed its Pre-Series A funding round with participation from Falak Angels Syndicate members. The investment reinforced Unipal’s position as a leading provider of student-focused services across the Middle East and Africa.
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• Edtech

Morocco-based B2B marketplace, ZSystems closed a $1.5 million Seed funding round, led by Morocco-based VCs—M ..Read More

Morocco-based B2B marketplace, ZSystems closed a $1.5 million Seed funding round, led by Morocco-based VCs—MNF Ventures (through its MNF II fund), Witamax (through Fund II and III), Cash Plus Ventures, and Kalys Ventures. The funds will support ZSystems in developing its technology, expanding its product catalog, and preparing for its next growth phase
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• Information Technology

UAE-based healthtech, BioSapien raised $5.5 million in a pre-Series A fundraise, led by Global Ventures with p ..Read More

UAE-based healthtech, BioSapien raised $5.5 million in a pre-Series A fundraise, led by Global Ventures with participation from Dara Holdings. The capital will be used to fund BioSapien’s clinical trials in the UAE, with patient enrollments in Abu Dhabi set to begin in Q2 2025. The funds will also support increased product development, manufacturing, and the onboarding of new talent.
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• Healthtech