Shift, a Jeddah-based mobility company, has secured an $83 million investment from Merak Capital to enhance its mobility services across Saudi Arabia. This funding aims to expand and improve technology in sectors such as tourism and transportation.
Qist Bazaar, a Karachi-based fintech, has raised $3.2 million in Series A funding to expand its BNPL services across Pakistan. The startup focuses on making essential goods accessible to the underbanked, enhancing both product offerings and technological infrastructure.
The Arewa Tech Fest introduces a $50 million Arewa Tech Fund to support innovation in Northern Nigeria. This initiative aims to empower young entrepreneurs and stimulate economic growth by providing necessary capital, amidst a global downturn in tech investments.
Dubai-based e& has received European Commission approval to acquire a controlling interest in PPF Telecom, covering operations in Bulgaria, Hungary, Serbia, and Slovakia. This decision, which comes three months ahead of schedule, facilitates e&’s strategic expansion into the European telecom sector.
Userguest, a Moroccan SaaS startup, has raised $2.4 million in seed funding to enhance its tool that optimizes direct hotel revenue. The round, led by Al Mada Ventures, will expand its market reach and strengthen its sales team, promising growth and innovation in hospitality technology.
IO Kitchens, Oman’s leading cloud kitchen startup, has secured $2.8 million in seed funding, marking a key milestone in its mission to transform the food delivery industry. This funding will support expansion, technological advancements, and innovative food solutions, catering to the rising demand for high-quality food options.
Abu Dhabi-based ERP provider Hulexo has secured seed investment from Arzan VC, fueling expansion into Kuwait and Saudi Arabia. The investment will help Hulexo grow to 300 retail locations by 2025, offering smarter solutions for small and medium-sized businesses in the region.
Gushcloud partners with Talent Plus and key investors to expand its talent management operations in the Middle East and South Asia. This collaboration enhances cross-border opportunities for creators and celebrities, bridging the gap between MENA, South Asia, and Hollywood, while boosting the global creator economy.
n May, Vodafone and e& announced that e&—60% owned by the UAE government—had increased its stake to 14.6%
Delivery Hero plans to list its MENA business, Talabat, on the Dubai Financial Market in Q4 2024, marking the first tech IPO there. The move, involving a secondary sale of shares while retaining majority ownership, follows the divestment of Foodpanda in Taiwan to enhance financial health.
