Tarabut, the MENA region’s largest open banking platform, has acquired UK-based Vyne, enhancing its real-time payment capabilities. This acquisition enables Tarabut to expand its reach and offer seamless, account-to-account payments across the region, starting in Bahrain and soon in Saudi Arabia and the UAE.
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.
Bitpanda Technology Solutions has partnered with CoinMENA to enhance crypto asset trading in the MENA region. This collaboration will improve trading efficiency on CoinMENA’s platform and expand the range of crypto assets available to users. Both companies will work closely with regulators to ensure compliance and deliver a seamless trading experience.
Sony has launched the MENA Hero Project, an incubator program designed to support game developers in the Middle East and North Africa. The initiative offers mentorship, training, and project-based investment to developers in several MENA countries, aiming to lower entry barriers and showcase emerging talent in the region’s gaming market.
Web3 streaming platform myco has raised $10 million in its Series A funding round, securing a post-money valuation of $80 million. The funds will support its expansion into new markets and the relaunch of its utility token on the Aptos Blockchain. The company also reported its first profitable year with $7.5 million in revenue.
Es’hailSat, the Qatar Satellite Company, is exploring a potential collaboration with Algeria TV to enhance broadcasting capabilities using its advanced satellite services. With a robust infrastructure and over 12 years of experience, Es’hailSat aims to support Algeria TV in improving the country’s broadcasting sector.
Samsung TV Plus has partnered with MBC Media Solutions to expand its ad reach across Saudi Arabia, the UAE, and Egypt. This collaboration will utilize Samsung’s extensive device network and MMS’s regional expertise to offer targeted, high-impact advertising opportunities on over 60 million devices in the MENA region.
Ursula von der Leyen, re-elected European Commission president, plans to focus her next term on the Mediterranean, emphasizing digital transformation. The new portfolio will strengthen various sectors through initiatives like the MEDUSA project, enhancing connectivity and fostering economic stability, job creation, and regional cooperation in digital development.
Qatar is leading AI investments in the MENA region with $2.4 billion in incentives, aiming to enhance its AI capabilities and attract global experts. The initiative is part of Qatar’s strategy to build a smart economy, with digital investments projected to reach $5.7 billion by 2026, significantly boosting various sectors.
Egyptian fintech Qardy raised a seven-figure pre-seed round from White Field Ventures, Vastly Valuable Ventures, and angel investors. Founded in 2022, Qardy connects MSMEs with financial institutions. The investment will enhance Qardy’s platform, expand services in the MENA region, and accelerate growth in KSA, emphasizing transparency and customer satisfaction.
