\n
\n\tRIYADH:\u00a0Startups across the Middle East and North Africa region continue to attract significant investment, with fintech, cybersecurity and artificial intelligence-driven ventures leading the charge.<\/p>\n
\n\tRecent funding rounds and acquisitions highlight the region\u2019s growing appeal to investors, particularly in Saudi Arabia, the UAE and Egypt.<\/p>\n
\n\tSaudi Arabia-based cybersecurity firm CQR raised $3 million in a funding round led by Shorooq. Founded in 2023 by Naser Al-Dossary, the company provides AI-driven, product-based cybersecurity solutions for businesses.<\/p>\n
\n\t\u201cCyber threats in OT (operational technology) environments are evolving rapidly and traditional security models are no longer enough,\u201d Al-Dossary said.<\/p>\n
\n\t\u201cAt CQR, we are reengineering cybersecurity for industrial operations \u2014 building innovative, product-driven solutions that make OT security accessible, efficient and highly scalable.\u201d<\/p>\n
\n\tThe investment will enable the company to scale operations and enhance its AI capabilities.<\/p>\n
\n\tAl Madinah Angels launched to boost entrepreneurship in Saudi Arabia<\/strong><\/p>\n
\n\tA group of investors has launched Al Madinah Angels to support startups as part of Al Madinah Ventures Initiatives.<\/p>\n
\n\tThe network is a collaboration between Value Makers Studio, Madinah Chamber and Numu Angels.<\/p>\n
\n\tIt aims to help founders turn ideas into viable ventures and contribute to the region\u2019s economic growth.<\/p>\n
\n\tThis follows the launch of Al Madinah Ventures late last year, a $10 million investment fund initiated by VMS in collaboration with the Economic Development Center and the Madinah Chamber of Commerce.<\/p>\n
\n\tDHL eCommerce acquires Saudi logistics company AJEX<\/strong><\/p>\n
\n\tDHL eCommerce, the logistics arm of DHL Group, has acquired Saudi-based parcel logistics company AJEX for an undisclosed amount.<\/p>\n
\n\tFounded in 2021 and backed by Ajlan & Bros Holding, AJEX offers express distribution, e-commerce services and freight solutions across Saudi Arabia, the UAE and Bahrain, as well as the US, UK, Turkiye, South Africa and China.<\/p>\n
\n\tFlow48 raises $69m series A to expand in Saudi Arabia, UAE<\/strong><\/p>\n
\n\tUAE-based fintech Flow48 has secured $69 million in a series A funding round comprising debt and equity.<\/p>\n
\n\tThe round was led by Breega, with participation from 212, Speedinvest, Daphni, Endeavor Catalyst, Evolution Ventures and Plus VC.<\/p>\n
\n\tFounded in 2022 by Idriss Al-Rifai, Flow48 provides small- and medium-sized enterprises with upfront financing by transforming future revenues into immediate capital.<\/p>\n
\n\tThe funding will support its expansion in Saudi Arabia and the UAE. In November 2023, the company closed a $25 million pre-series A round.\u00a0<\/p>\n
\n\t<\/p>\n
<\/p>\n
\n\t\tAt CQR, we are reengineering cybersecurity for industrial operations \u2014 building innovative, product-driven solutions that make OT security accessible, efficient and highly scalable.<\/strong><\/p>\n
\n
<\/p>\n
\n\t\tNaser Al-Dossary, CQR cofounder and CEO<\/em><\/p>\n
\n<\/p><\/blockquote>\n
\n\tPinewood.AI acquires Seez in $46.2m deal<\/strong><\/p>\n
\n\tUK-based automotive intelligence platform Pinewood.AI has agreed to acquire UAE-founded autotech company Seez for $46.2 million in cash and shares.<\/p>\n
\n\tThe share component is expected to increase over the next three years.<\/p>\n
\n\tEstablished in 2016 by Tarek Kabrit and his nephew Andrew Kabrit, Seez provides car dealerships and original equipment manufacturers with software solutions to enhance customer experience and sales.<\/p>\n
\n\tLast year, the company raised $4.2 million and has since expanded to 16 markets, including Mexico and Australia.<\/p>\n
\n\tOmnispay secures $1.5m seed round to enhance SME financial solutions<\/strong><\/p>\n
\n\tUAE-based fintech omnispay has raised $1.5 million in a seed funding round led by Mercatus Capital Pte., with participation from regional and international investors.<\/p>\n
\n\tFounded in 2022 by Simanta Das, Vimal Kumar and Praveen Kiran, omnispay provides an all-in-one platform for small- and medium-sized enterprises to manage cash flow through collection, payment and lending services.<\/p>\n
\n\tThe company claims to have signed up more than 1,600 businesses with strong month-on-month growth.<\/p>\n
\n\tDisrupt.com commits $100m to AI-first startups<\/strong><\/p>\n
\n\tUAE-based venture builder Disrupt.com has pledged $100 million to fund AI-first technology ventures globally.<\/p>\n
\n\tFounded by Aaqib Gadit, Uzair Gadit and Umair Gadit, the firm will focus on AI, cybersecurity, Web 3.0, automotive technology and retail innovation.<\/p>\n
\n\tTo date, Disrupt.com has deployed more than $40 million across its portfolio, including investments in early- and growth-stage companies, as well as an exit valued at $350 million.<\/p>\n
\n\tJournify raises $4m to expand customer data solutions<\/strong><\/p>\n
\n\tUAE-based software as a service provider Journify has secured $4 million in funding led by Silicon Badia, with participation from RZM and other investors.<\/p>\n
\n\tFounded in 2023 by Taoufik El-Jamali and Amine Chouki, Journify helps businesses maximize the value of their customer data. The investment will support its expansion efforts.<\/p>\n
\n\tFawry invests $1.6m in three Egyptian fintech startups<\/strong><\/p>\n
\n\tEgypt-based fintech giant Fawry has invested $1.6 million to acquire a 56.6 percent equity stake in Virtual CFO and 51 percent stakes in both Dirac Systems and Code Zone. Founded in 2008, Fawry is Egypt\u2019s largest e-payment platform, providing electronic bill payments, mobile top-ups and business services.<\/p>\n
\n\tThese investments align with its strategy to expand its business solutions ecosystem, Fawry Business.<\/p>\n
\n\tEgypt\u2019s fintech sector sees 5.5x growth in 5 years<\/strong><\/p>\n
\n\tEgypt\u2019s fintech sector has grown 5.5 times over the past five years, driven by digital payments, lending and business to business marketplaces, according to a report by Entlaq, in collaboration with the Netherlands Enterprise Agency and the Dutch Embassy in Egypt.<\/p>\n
\n\tGovernment initiatives and the Fintech & Innovation Strategy have accelerated financial inclusion and digital transformation.<\/p>\n
\n\tHowever, regulatory complexities, digital literacy gaps and cybersecurity risks remain key challenges.<\/p>\n
\n\tBasata increases stake in Jordan\u2019s MadfoatCom to 25 percent<\/strong><\/p>\n
\n\tEgypt-based fintech Basata has raised its stake in Jordanian e-payment firm MadfoatCom to 25 percent.<\/p>\n
\n\tThe acquisition is part of Basata\u2019s strategy to enhance digital financial inclusion and strengthen Jordan\u2019s digital payments infrastructure.<\/p>\n
\n\tBasata, formerly known as Ebtikar, was formed in 2009 through the merger of Masary and Bee and specializes in bill payments, mobile money and supply chain solutions.<\/p>\n
\n\tMadfoatCom, founded in 2011 by Nasser Saleh, provides an online, real-time bill presentment and payment system.<\/p>\n
\n\tLola raises $1.3m to expand food tech business in GCC<\/strong><\/p>\n
\n\tBahrain-based food tech startup Lola has secured $1.3 million in a pre-seed funding round from Plus VC, Vision Ventures and angel investors.<\/p>\n
\n\tFounded in 2023 by Othman Janahi, Lola provides customizable cake ordering services in Bahrain and Saudi Arabia.<\/p>\n
\n\tThe investment will support its expansion into Saudi Arabia and the wider Gulf Cooperation Council region.<\/p>\n
\n\tLillia secures $1.7m grant to expand AI-powered health tech platform<\/strong><\/p>\n
\n\tQatar-based health tech startup Lillia has raised a $1.7 million grant from the Qatar Research, Development and Innovation Council.<\/p>\n
\n\tFounded in 2020 by Sujit Chakrabarty, Lillia was created through the 2024 merger of Qatar-based Droobi Health LLC and India-based Smit.fit.<\/p>\n
\n\tIts AI-powered platform helps healthcare providers, insurers, corporations and public sector entities manage chronic diseases.<\/p>\n
\n\tLillia plans to expand across MENA and Southeast Asia in the next two years.<\/p>\n
\n\tCashfree Payments secures $53m to expand in MENA<\/strong><\/p>\n
\n\tIndia-based payments solutions provider Cashfree Payments has raised $53 million in a funding round led by South Korean digital entertainment company KRAFTON, with participation from Apis Partners.<\/p>\n
\n\tThe investment will support Cashfree\u2019s expansion in the UAE and the broader MENA region, strengthening its position in the digital payments market.<\/p>\n
\n\tCashfree currently operates in the Middle East through a strategic partnership with UAE-based payments firm Telr, which it invested in three years ago.<\/p>\n
\n\tWith the new funding, the company aims to scale its offerings to businesses across the region, leveraging its expertise in India\u2019s fintech sector, where it processes $80 billion in annual transactions.<\/p>\n<\/p><\/div>\n
\n
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