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...
Abu Dhabi’s The Cloud raises $12 million Series B for its cloud kitchen platform
Abu Dhabi-based cloud kitchen startup The Cloud has raised $12 million in an ongoing Series B round, the startup announced last week....
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,...
Sawari Ventures to launch a new $150 million fund to invest in Egyptian startups
Sawari Ventures, one of the leading and oldest VC firms in the Egypt plans to launch a new $150 million fund to...
MENA remains Delivery Hero’s fastest growing region: $10.3 billion GMV, $2.9 billion revenue in 2023
Middle East & North Africa continues to be the fastest growing region for Belin-headquartered international food and grocery delivery company Delivery Hero....
Saudi’s Rize raises $2.9 million seed for its rent now pay later platform
Saudi proptech Rize has raised $2.9 million in a seed round, from Seedra Ventures, Hala Ventures, JOA Capital, RZM Investments, Bonat Investments,...
Jordan’s ISSF invests $5 million in MSA Novo’s MENA-focused fund
ISSF, or The Innovative Startups and SMEs Fund, of Jordan, has invested $5 million in MSA Novo’s Middle East & North Africa...
180 Expensya employees pocketed $10 million from the $100 million+ exit of Tunisian SaaS startup
Expensya, a Tunisian-French software startup that automates expense management for businesses through its web, mobile, and API-based tools, was acquired by Sweden-headquartered...
Dubai fintech Kema raises $2 million pre-seed to automate accounts receivable for businesses
Dubai-based fintech Kema has raised $2 million in a pre-seed round led by Berlin-based global early-stage investment firm Speedinvest. The round was...
MSA Capital plans to launch a billion-dollar fund focused on MENA
MSA Capital, the Chinese VC firm that has been investing in the Middle East & North Africa for years, and was one...
- 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
