Author: Mahdeehassan

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…

The Eco-friendly ride option supported by the TGA will enable customers to contribute to carbon removal efforts through MEWA’s tree-planting initiatives powered by the Sedrah Program. Riyadh, Saudi Arabia – January 2025 – CarbonSifr, a pioneering climate-tech company and a participant in the inaugural Sedrah Program under MEWA (Ministry of Environment ,Water and Agriculture) and Careem Rides, focused on facilitating everyday reliable and convenient commuting options for the region through the Careem app, are announcing the launch of Careem’s Eco-friendly ride option in Saudi Arabia with support from the Transport General Authority (TGA) and MEWA’s Sedrah Program. Eco-friendly rides, launched…

Saudi beauty e-commerce giant Nice One has announced the successful pricing of its initial public offering (IPO) at SAR 35 per share, the top end of its range. The IPO has attracted overwhelming interest, with institutional investors placing orders exceeding SAR 169 billion ($45 billion), representing an oversubscription of 139.4 times. This IPO positions Nice One with a market capitalization of over SAR 4 billion ($1.06 billion) and marks a major milestone for the beauty and personal care e-commerce sector in Saudi Arabia. Details of the IPO Nice One is set to raise $322 million by offering 34.65 million shares, equivalent to…

 HUAWEI AppGallery and the Emirates Esports Federation (EESF) proudly announced the signing of a landmark Memorandum of Understanding (MoU) to drive innovation and growth in the esports and mobile gaming ecosystem across the region. The MoU was officially signed by His Highness Sheikh Sultan Bin Khalifa Bin Sultan Bin Shakhboot Al Nahyan, President of the Emirates Esports Federation, and William Hu, Managing Director of Huawei Consumer Business Group, Middle East and Africa Eco Development and Operation, marking a pivotal step towards fostering collaboration and enhancing opportunities in one of the world’s fastest-growing gaming markets.  By leveraging Huawei’s technological expertise and…