Author: Mahdeehassan

Tabby, the MENA’s leading financial services and shopping app, has raised $160 million in a Series E financing round at a $3.3 billion valuation, cementing Tabby as the most valuable fintech company in the region. The round was led by existing investors Blue Pool Capital and Hassana Investment Company and drew additional participation from STV and Wellington Management. Since the last funding round in October 2023, the financial services app has almost doubled its annualised transaction volumes to over $10 billion while growing profitability. The company recently acquired Tweeq, a Saudi-based digital wallet, expanding its product portfolio. It has introduced…

GO Sport Opens its First Store in Ramallah, Palestine. GO Sport is thrilled to announce the opening of its first store in Palestine, located in Ramallah — marking a significant step in the brand’s expansion across the Middle East. Globally recognized for their high-performance, multi-branded sporting goods, this store not only reinforces GO Sport’s commitment to delivering high-quality sports and lifestyle products but also represents a meaningful investment in the Palestinian market, fostering local development and empowering the community. The new Ramallah store offers an exceptional selection of sportswear, footwear, and equipment, catering to fitness enthusiasts, outdoor adventurers, and team…

Dubai, UAE –– CNTXT and Oracle continue to advance their strategic collaboration, reinforcing their shared vision for AI innovation and enterprise transformation. Their collaboration, which was highlighted during Oracle Cloud World Tour, is focused on helping businesses and government entities accelerate AI adoption with secure, scalable solutions. During Oracle Cloud World, Mohammad Abu Sheikh, Founder and CEO of CNTXT, and Cherian Varghese, Senior Vice President of Cloud Infrastructure, AI for EMEA at Oracle, engaged in an in-depth discussion on AI readiness, data security, and the evolving AI landscape. Their conversation underscored the growing role of AI in enterprise operations and…

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…