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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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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Tunisia-based fintech, Konnect secured a funding round from Renew Capital for an undisclosed amount. Founded i ..Read More

Tunisia-based fintech, Konnect secured a funding round from Renew Capital for an undisclosed amount. Founded in 2021 by Amin Ben Abderrahman, Konnect specializes in payment links, e-commerce plugins, and APIs tailored for businesses of all sizes. The investment was aimed at supporting Konnect in scaling its operations.
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Riyadh-based fintech infrastructure provider, Lean Technologies raised $67.5M in a Series B funding round led ..Read More

Riyadh-based fintech infrastructure provider, Lean Technologies raised $67.5M in a Series B funding round led by General Catalyst, marking the firm’s first investment in a Saudi startup. Additional investors included Bain Capital Ventures, Duquesne Family Office, and Arbor Ventures, bringing Lean’s total funding to over $100 million.
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