Technology news and insights in the Middle East, South Asia, and Africa
Technology News and insights in the Middle East, South Asia, and Africa
UAE-based VC fund EQIQ has invested $3 million in InstaBank, a new AI-powered digital bank in Iraq, as part of a $15 million funding round. Led by finance veteran Hussain Qaragholi, InstaBank aims to transform Iraq’s financial sector with scalable, inclusive fintech services and serve as a core pillar of EQIQ’s regional digital ecosystem strategy.
PetroApp’s $50 million funding round led by Jadwa Investment supports its IPO plans and regional growth across four countries. The platform leverages Saudi Arabia’s digital transformation and rising demand for efficient, integrated fleet management, marking a significant evolution in Middle East payment ecosystems.
Orange Jordan’s 2025 “Inspiring Change” Award honored women-led projects advancing sustainable digital innovation, introducing a new fintech category. Winners included Wasil, Genskin, SOHO ERP, and BitMal. Supported by Capital Bank and Int@j, the initiative aims to boost women’s roles in tech entrepreneurship across Jordan.
Benefit has successfully renewed its ISO 27001:2022 and ISO 22301:2019 certifications, demonstrating its commitment to stringent information security and business continuity standards. The zero non-conformity audit result highlights Benefit’s robust cybersecurity framework and operational resilience, boosting stakeholder confidence in its fintech services.
Jumia partners with Diar Dzair to launch Buy Now, Pay Later service in Algeria, enhancing online shopping accessibility and digital finance adoption. This initiative aims to boost sales and overcome payment barriers in Algeria’s cash-based retail environment, supporting the growth of the country’s digital economy and e-commerce market.
Orange Jordan sponsored the 2025 Global Women in Tech and Digital Transformation Summit, reinforcing its commitment to digital inclusion and empowering women in tech through innovative solutions and community initiatives aligned with its “Lead the Future” vision.
MoneyFellows, an Egyptian fintech, raised $13 million in a pre-Series C funding round to expand its digital platform for money circles. The platform allows users to save and borrow together using a mobile-based system, expanding beyond traditional groups. The company now has 8.5 million users and has reached profitability.
Nqoodlet, a Saudi-based fintech platform, raised $3 million in seed funding to enhance its financial management tools for SMEs in the GCC. The platform helps SMEs streamline operations and achieve significant cost savings, aligning with Saudi Arabia’s Vision 2030 to foster SME growth and financial inclusion.
Fawry has partnered with Truecaller to provide a more secure and transparent calling experience for its customers. The collaboration enables instant recognition of incoming calls, enhanced branding, and personalized call context. This partnership aims to build customer trust and improve engagement by leveraging Truecaller’s advanced customer experience solutions.
Zain has launched the ‘Bede’ Digital Wallet in Sudan, enabling secure mobile financial transactions without the need for traditional bank accounts. The service, which caters to both feature phones and smartphones, will roll out in three phases, aiming to enhance financial inclusion and support Sudanese citizens in their daily financial needs.