Egypt-based fintech, Basata, increased its stake in Jordan-based fintech, MadfoatCom, to 25%, further strength ..Read More

Egypt-based fintech, Basata, increased its stake in Jordan-based fintech, MadfoatCom, to 25%, further strengthening its presence in the digital payments sector. The acquisition aimed to enhance financial inclusion and improve Jordan’s digital payments infrastructure. Basata, founded in 2009 after the merger of Masary and Bee, specializes in e-payments, while MadfoatCom, founded in 2011, provides an online bill presentment and payment system.
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• Fintech

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

Rua Growth I LP igot investment of $5M from Jordan’s Innovative Startups and SMEs Fund (ISSF) to support inv ..Read More

Rua Growth I LP igot investment of $5M from Jordan’s Innovative Startups and SMEs Fund (ISSF) to support investment in Jordanian startups. Rua Growth Fund, a $45 million venture capital fund based in Saudi Arabia, focuses on early-stage companies across sectors like e-commerce, fintech, enterprise solutions, and SaaS. This collaboration seeks to harness Jordan’s entrepreneurial strengths, driving innovation and boosting the regional competitiveness of Jordanian startups.
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