UAE-based fintech Quantix Technology Projects LLC, a subsidiary of Astra Tech, secured $500 million in asset-b ..Read More

UAE-based fintech Quantix Technology Projects LLC, a subsidiary of Astra Tech, secured $500 million in asset-backed securitisation financing from Citi. The funding will support Quantix's CashNow consumer lending platform. In early 2023, Astra Tech acquired the voice-calling app "Botim," aiming to create a super app with instant messaging and digital payments. Additionally, in July 2022, Astra Tech raised $490 million, which enabled the acquisition of the Emirati fintech PayBy the following month.
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• Fintech

UAE-based men’s wellness app, Better secured a $550,000 pre-seed funding round led by Salica Spring Studiosâ ..Read More

UAE-based men’s wellness app, Better secured a $550,000 pre-seed funding round led by Salica Spring Studios’ fund, with participation from Salica Investments, Al Waha Fund of Funds, and Plus VC (+VC). Operating in the health and wellness industry, the startup planned to use the capital to expand its offerings, including the introduction of customised prescription medications and supplements tailored for men.
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• Healthcare

UAE-based Web 3.0 social network, DeChat raised $1 million in a funding round led by Mindspace Solutions. The ..Read More

UAE-based Web 3.0 social network, DeChat raised $1 million in a funding round led by Mindspace Solutions. The funding was aimed at accelerating DeChat's growth, enhancing its technology infrastructure, and expanding its user base. DeChat operates in the Web 3.0 and social networking industry, developing a decentralized, user-centric communication platform powered by Web 3.0 technologies.
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• Blockchain

UAE-based B2B autotech startup, BuyAnyAutoPart raised $750,000 in pre-seed funding from Galadari Brothers, 6G ..Read More

UAE-based B2B autotech startup, BuyAnyAutoPart raised $750,000 in pre-seed funding from Galadari Brothers, 6G Capital, and other undisclosed investors. The funding was allocated to executing contracts with several multi-brand workshops in the UAE, with plans to expand its services to thousands of small and medium-sized garages nationwide.
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• Autotech

UAE-based fintech Wafeq raised $7.5 million in a Series A funding round. The round was led by 9900 Capital, wi ..Read More

UAE-based fintech Wafeq raised $7.5 million in a Series A funding round. The round was led by 9900 Capital, with participation from Gary Turner, former CEO of Xero’s operations in EMEA, and existing investors Raed Ventures and Wamda Capital. The funds will support Wafeq’s expansion, particularly in Saudi Arabia, where 90% of its business originates, and in the UAE.
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• Fintech

UAE-based venture capital firm, Iliad Partners announced the launch and first close of its $50 million Iliad P ..Read More

UAE-based venture capital firm, Iliad Partners announced the launch and first close of its $50 million Iliad Partners Tech Ventures Fund I, backed by Jada Fund of Funds (a PIF company), the Olayan Family, and Masarrah Investment Company. The fund targeted early-stage B2B tech startups in the MENA region, with a focus on Saudi Arabia and the UAE, and verticals such as fintech, logistics, and proptech. It made its debut with investments in regional startups OTO, Penny, and Qashio.
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• Fintech
• Logistics
• Proptech
• Startups

Qatar-based e-commerce platform, Hudhudshop closed a six-figure dollar pre-seed funding round from undisclosed ..Read More

Qatar-based e-commerce platform, Hudhudshop closed a six-figure dollar pre-seed funding round from undisclosed investors. The investment aimed to support Hudhudshop’s growth initiatives, enhancing its sales capabilities, integrating advanced technologies, and launching referral and loyalty programs.
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• Ecommerce

Saudi Arabia-based services platform, Abikhdmh raised $800,000 in a seed round, backed by a group of undisclos ..Read More

Saudi Arabia-based services platform, Abikhdmh raised $800,000 in a seed round, backed by a group of undisclosed investors. The funding was intended to enhance the platform's ability to deliver innovative e-transaction services and expand into new areas to meet the growing needs of its users.
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• Service