Egypt-based fintech, Khazna, closed a $16 million pre-Series B funding round with participation from SANAD Fun ..Read More

Egypt-based fintech, Khazna, closed a $16 million pre-Series B funding round with participation from SANAD Fund for MSME, anb Seed Fund, Aljazira Capital, Khwarizmi Ventures, Nclude, ICU Ventures, Quona, Speedinvest, and Disruptech Ventures. This follows its $38 million Series A round in March 2022. The new funding positions Khazna to apply for a digital banking license in Egypt and expand into Saudi Arabia.
Read Less

• Fintech

Egypt-based venture capital firm, Foundation Ventures, closed the first round of its $25 million fund, FVFII, ..Read More

Egypt-based venture capital firm, Foundation Ventures, closed the first round of its $25 million fund, FVFII, with backing from the Egyptian American Enterprise Fund (EAEF), the Micro, Small, and Medium Enterprise Development Agency (MSMEDA), and Onsi Sawiris. Founded in 2018, Foundation Ventures focuses on early and growth-stage startups. The fund aims to support Egypt’s startup ecosystem and invest in promising African startups.
Read Less

Egypt-based CNC machine manufacturer, Simplex, secured $13 million in funding, led by Saudi Arabia-based Natio ..Read More

Egypt-based CNC machine manufacturer, Simplex, secured $13 million in funding, led by Saudi Arabia-based National Industrial Development Centre. Founded in 2013, Simplex provides industrial solutions to regional manufacturers across various industries. The investment will support the establishment of a factory in Riyadh dedicated to producing advanced CNC machines, marking a significant step in the company’s regional expansion and technological advancement.
Read Less

• Manufacturing

Egypt-based loyalty solutions provider, Dsquares, acquired a majority stake in the B2B SaaS loyalty platform, ..Read More

Egypt-based loyalty solutions provider, Dsquares, acquired a majority stake in the B2B SaaS loyalty platform, Prepit, for an undisclosed amount. Founded in 2012, Dsquares specializes in tailored loyalty programs across multiple industries, while Prepit, founded in 2022, focuses on AI-driven solutions for F&B operations. The acquisition strengthens Dsquares' presence in the Middle East, reinforcing its expertise in key markets like Saudi Arabia, Egypt, and the UAE.
Read Less

• SaaS

Egypt-based logistics startup, Fincart.io, raised an undisclosed amount in a pre-Seed funding round, led by Pl ..Read More

Egypt-based logistics startup, Fincart.io, raised an undisclosed amount in a pre-Seed funding round, led by Plus VC and joined by Plug and Play, Orbit Startups, Jedar Capital, and other regional investors. Founded in 2023 by Mostafa Elmasry and Nihal Ali, the funds will be used to enhance Fincart's platform, expand its courier network, and support the e-commerce market in Africa and the Middle East.
Read Less

• Logistics

US-based Egyptian fintech MoneyHash raised $5.2 million in pre-Series A funding, led by Flourish Ventures, wit ..Read More

US-based Egyptian fintech MoneyHash raised $5.2 million in pre-Series A funding, led by Flourish Ventures, with participation from Vision Ventures, Arab Bank's Xelerate, Emurgo Kepple Ventures, and others, including Github founder Tom Preston-Werner. Founded in 2020 by Nader Abdelrazik, Mustafa Eid, and Anisha Sekar, MoneyHash offers a payment orchestration platform for enterprise merchants. The funding was directed toward expanding its presence in the MEA region. Earlier in 2024, the company secured $4.5 million in a Seed round co-led by COTU Ventures and Sukna Ventures.
Read Less

• Fintech

Egypt-based fintech, Raseedi, completed the acquisition of Kashat, which owns Pharos Microfinance S.A.E., in a ..Read More

Egypt-based fintech, Raseedi, completed the acquisition of Kashat, which owns Pharos Microfinance S.A.E., in an equity deal aimed at broadening its product offerings and introducing instant loans. Founded in 2018 by Ahmed Atalla and Samuel Samy, Raseedi provides underbanked users with services such as cheaper calls, saving tips, instant Airtime loans, and bill payments without requiring a credit history. Kashat, also founded in 2018 by Karim Nour and Sumair Farooqui, specializes in providing small loans to the financially excluded. Following the acquisition, Raseedi and Kashat announced plans to expand their fully digital solution across Africa and Asia to serve underbanked populations in these regions.
Read Less

• Fintech

Nawy, Egypt’s leading proptech platform, completed the acquisition of ROA, a company known for its innovativ ..Read More

Nawy, Egypt’s leading proptech platform, completed the acquisition of ROA, a company known for its innovative property management solutions. This strategic move laid the foundation for the launch of Nawy Unlocked, a service aimed at enabling property owners to generate income from underutilized or unfinished properties with ease.
Read Less

• Proptech