Jahez’s bottom line soars: profit more than doubles to $33 million, revenue grows by 11 percent to $476 million
Jahez, the leading Saudi food delivery company, has reported its 2023 earnings, marking a significant (and expected) turnaround in its financial performance....
Jumia cuts losses by 68 percent in 2023 but orders and revenue also take a hit
Jumia, the leading African ecommerce platform that operates in eleven markets of the region, including four in North Africa, reported a 68...
Saudi debit card ecommerce transactions surge 23x in 5 years, volume hits $42 billion in 2023
Saudi Arabia witnessed a 43 percent increase in ecommerce transactions made using local debit cards (Mada), reaching a total of 874 million,...
MENA is Delivery Hero’s top region in GMV to revenue conversion
Delivery Hero, the Berlin-headquartered global food delivery company operates in over 70 markets across four regions; Asia, MENA, Europe, and Americas. The...
Saudi startups dominate $100 million rounds in 2023
There were a total of five $100 million rounds in 2023, with three of them being in fintech and two in ecommerce....
- Microsoft invests $1.5 billion in UAE-based AI holding company G42
- Saudi’s Penny Software raises fresh funds to grow its procurement SaaS platform
- STC Bank launches private beta following approval from Saudi Central Bank
- Saudi’s Kitchenara raises $380,000 to build a TikTok for food delivery
- Bahrain’s Ahlan raises $3 million for its food delivery and customer loyalty platform
