Author: Mahdeehassan

qeen.ai, a leading provider of agentic AI solutions for e-commerce, announces it has raised $10 million in funding—one of the largest seed investments in the MENA region to date. The funding was led by Prosus Ventures, with participation from existing investors including Wamda Capital, 10x Founders and Dara Holdings. This brings qeen.ai’s total funding to $12 million. Using proprietary technology, qeen.ai develops AI agents that autonomously execute tasks and optimise their outcome based on observed user behavior. E-commerce businesses can seamlessly interact with qeen.ai’s domain-expert agents to carry out functions like content creation, marketing and conversational sales. This enables merchants…

Saudi-based AI startup vminds.ai has successfully closed a six-figure pre-seed investment round, strengthening its ability to enhance its platform. The startup also announced its official launch. The funding round was led by strategic angel investors from the various business sectors, who believed in vminds.ai’s vision and its future impact on the digital economy. vminds.ai is developed by VEEM Solutions, an award-winning Saudi parent company specialising in advanced technology solutions, AI tools, and modern innovations. VEEM Solutions aims to make AI tools accessible to everyone by developing cutting-edge digital solutions that integrate artificial intelligence with interactive technologies such as augmented reality…

Saudi Arabia’s MSME finance ecosystem at the heart of economic diversification and financial inclusion efforts Saudi Arabia, February 2025: The pivotal role of Saudi Arabia’s finance ecosystem for micro, small, and medium-sized enterprises (MSMEs) in advancing the Kingdom’s economic diversification and financial inclusion objectives is explored in a new report released by Oxford Business Group (OBG), in collaboration with the Kafalah programme. Titled, “MSME Empowerment in Saudi Arabia,” the report examines the country’s strategic efforts to drive the growth of MSMEs by improving access to finance and fostering entrepreneurship. It highlights how the Kingdom is leveraging tailored financial solutions to…

Abu Dhabi, February 4, 2025 – Smpl Fund I, a $10 million venture capital fund launched by Smpl Holdings, has announced a strategic investment of $250,000 in multiple AI and technology companies within the Qora71 portfolio. Smpl Fund I, which focuses on supporting AI and tech startups across the MENA region and beyond, provides seed capital alongside hands-on strategic support to accelerate the growth of innovative companies. Qora71, a venture investor syndicate and a member of the Hub71 Angel Program, offers accredited investors the opportunity to invest on a deal-by-deal basis, without minimum commitments or fees. The syndicate’s portfolio includes…

Dsquares, a leader in loyalty and rewards solutions, has announced its strategic acquisition of a majority stake in Prepit, a B2B SaaS loyalty platform specializing in AI-driven solutions for SMEs in the food & beverage (F&B) and e-commerce sectors. This acquisition builds on Dsquares’ proven expertise in the loyalty sector across the Middle East, including key markets such as Saudi Arabia, Egypt, and the UAE. The Egyptian loyalty market is projected to grow at a CAGR of 10.3%, reaching $785 million by 2028. Meanwhile, Egypt’s F&B sector is experiencing rapid growth, with its foodservice market expected to grow at a…

Ibtikar Fund is excited to announce its investment in Nabeeh, a game-changing PropTech startup revolutionising maintenance and cleaning services for property owners, real estate operators, and multi-branch businesses through cutting-edge technology and on-demand innovation. This investment underscores Ibtikar Fund’s strategy of supporting innovative and scalable startups that address real market needs and deliver strong returns. “Nabeeh’s impressive growth trajectory and its ability to penetrate key markets like Saudi Arabia reflect its potential to become a dominant player in the maintenance and facility management space,” said Reem Qawasmi, venture partner at Ibtikar Fund. “We are confident that our investment will help…

Lendo, the leading debt crowdfunding platform in Saudi Arabia, has secured a USD 690 million (SAR 2.6 billion) warehouse facility led by J.P. Morgan. Supported by Fintech Saudi, this milestone underscores the growth in Saudi Arabia’s fintech sector and the vast opportunity in SME financing in the economy. The facility is expected to contribute to an increase in job creation in the Kingdom, demonstrating Lendo’s commitment to domestic economic growth and employment. “This landmark facility represents a transformative moment for Lendo and the Saudi fintech ecosystem,” said Osama Alraee, CEO and co-founder of Lendo. “The strong backing from global financial…

Simplex, a rising startup in the field of CNC machine manufacturing, secures $13 million as part of Saudi efforts to support and localise advanced industries within the Kingdom. Simplex will use the fund to open a huge factory, which is set to be built on a 20,000 square meter site in Riyadh, the Saudi capital, and will be dedicated to producing advanced CNC machines. Simplex signed a memorandum of understanding with Saudi Arabia’s National Industrial Development Centre to establish the company’s first factory within the Kingdom of Saudi Arabia. The announcement was made during a signing ceremony attended by Eng.…

This year’s edition proved another roaring success in the UAE On the 14th of January, iFX EXPO Dubai 2025, MENA’s #1 online trading industry event, kicked-off its remarkable 2+ days of FX & Fintech showcases. Global industry leaders gathered to build lasting relationships, find the right business partner, discover innovative products and services, and expand their online trading knowledge through educational panels. iFX EXPO Dubai 2025 attracted a record number of attendees who leveraged the event to capitalise on invaluable business opportunities. The total attendance rose to 7.5K, a 48% increase from 2024. 45% more brokers secured strategic partnerships. 30%…

Mintiply Capital, a leading advisory and investment banking firm in the UAE renowned for its expertise in M&A, complex deals’ structuring and alternative investments, proudly announces an exclusive partnership with Fuel Venture Capital, a prominent U.S.-based venture capital firm. This collaboration aligns with the UAE’s vision of fostering a robust startup ecosystem and driving innovation as a cornerstone of the nation’s economic growth. Through this partnership, Mintiply and Fuel will harness the power of a dedicated Special Purpose Vehicle (SPV) that targets high-potential startups across the GCC region and the UAE in particular. The SPV will focus on early-stage companies…