UAE-based fintech, Pluto raised $4.1 million in a pre-Series A funding round led by Rhino Ventures, Born Capit ..Read More

UAE-based fintech, Pluto raised $4.1 million in a pre-Series A funding round led by Rhino Ventures, Born Capital, Goanna Capital, Evolution VC, Freesearch VC, and Tiferes VC. Founded in 2021 by Mohammed Ridwan, Mohammed Aziz, and Nayeem Zen, Pluto offers spend management solutions using virtual and physical cards. The funding will support its expansion in KSA and strengthen its Pluto Connect product in the GCC market.
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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.
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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.
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UAE-based remittances fintech, Jingle Pay, secured funding from Pakistan-based Bank Alfalah, which acquired a ..Read More

UAE-based remittances fintech, Jingle Pay, secured funding from Pakistan-based Bank Alfalah, which acquired a 9.9% equity stake in the company. Founded in 2019 by Amir Fardghassemi, Jingle Pay enables users to store, spend, and send money to over 160 countries in 99+ currencies, with operations in the UAE, Bahrain, Pakistan, and Egypt. The investment reflected Bank Alfalah's commitment to advancing digital transformation and financial inclusion across key markets.
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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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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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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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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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