Funding Activity Flourishes in MENA Region, Led by Saudi and Egyptian Startups
The Middle East and North Africa region saw a surge in funding activity, with Saudi and Egyptian startups taking the lead. From diverse sectors to accelerator programs, the region experienced a variety of funding rounds.
Saudi Startup Blend Raises SR5 Million in Pre-Seed Investment Round
Saudi startup Blend secured SR5 million ($1.3 million) in a pre-seed investment round supported by a group of angel investors. The funding aims to develop innovative tech solutions for the restaurant, cafe, hypermarket, and cloud kitchen sectors.
Qardy Secures Seven-Figure Pre-Seed Round to Boost Digital Lending in Egypt
Qardy, a digital lending marketplace in Egypt, successfully secured a seven-figure pre-seed round of investment. The funding will help boost digital lending for micro, small, and medium enterprises (MSMEs) in the country.
Lucky One Raises $3 Million to Scale Consumer Credit Offerings in Egypt
Consumer credit fintech Lucky One raised $3 million to scale its credit lending services in Egypt. The funding will support the company’s growth plans and mission of providing accessible consumer credit solutions to underbanked Egyptians.
Sandbox Graduates Seven Startups in Fourth Cohort
UAE-based accelerator program Sandbox celebrated the graduation of seven startups in its fourth cohort. The program provides workshops and investment opportunities to help startups grow and succeed.
Twlm Secures Investment to Expand Order Pickup Services in Saudi Arabia
Twlm, a Saudi-based startup, secured an investment to expand its order pickup services from restaurants and stores across the Kingdom. The funding will support the company’s expansion plans to reach more customers and locations.