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The company, founded by Manar Mahmassani, Rami Tabbara, and Ricardo Brizido in 2020, has raised $8 million in a pre-Series A round from investors like BY Ventures, MEVP, and Vivium Holdings to expand its portfolio and launch in SaudiArabia and Egypt. The company first raised a $4 million seed round last year.
Invygo, a startup operating in UAE and SaudiArabia, has raised $10 million in its Series A funding led by MEVP as it works to scale its car rental service in the region. The Middle East-based startup, founded by Eslam Ahmed Hussein and Pulkit Ganjoo in 2019, has raised $14.3 There is Ekar, which last raised $17.5
Jordan-based mobile game publisher TamatemGames announced today it has raised $11 million in a Series B led by KRAFTON , a South Korean game developer behind PUBG, marking its first investment in the Middle East and North Africa (MENA). The startup will hire local talents in SaudiArabia to expand further.
Convertedin , an Egyptian startup that operates a marketing operating system for e-commerce brands, has raised $3 million in a seed round led by SaudiArabia-headquartered Merak Capital. The three-year-old Egypt-headquartered company also has offices in SaudiArabia and Brazil; it just recently opened one in the latter. “We
Terra Drone said today it has raised $14 million in Series C funding from Wa’ed Ventures , the venture capital arm of Saudi Aramco , marking the VC firm’s first investment in Asia. For example, fossil fuel companies in SaudiArabia will utilize Terra Drone’s technology for inspection services.
But there’s a little twist to Sympl’s offerings which the founders made in a bid to localize its product for the Egyptian market. El-Feky said when the company raises its next round of investment, expansion outside Egypt will be on the cards. SaudiArabia. . “It The most likely destination?
The company has raised $3.4 The plan for the company is to provide merchants with access to accounts, cards, local payment networks and lending. The plan for the company is to provide merchants with access to accounts, cards, local payment networks and lending. million in seed funding at a valuation of $50 million.
This investment comes a year after the company raised a $2.5 million round, which takes its total investment raised to $9.2 You buy in our local currency, and we buy everything, handle the shipping, customs, clearance and bring it to your doorstep,” the CEO added. “You can use Bosta to get anything to your doorstep.
Last year, MaxAB , the food and grocery B2B e-commerce and distribution platform serving a network of traditional retailers across Egypt and Morocco, raised its $55 million Series A in two tranches ; the latter accompanied its acquisition of the Morocco-based and YC-backed WaysToCap. million orders within this timeframe.
It raised $850,000 seed in October 2020. The startup hopes that the Series A funding will drive its presence in 12 countries, including South Africa, Kenya, Ghana and SaudiArabia. Bouhlel says the company has local teachers in every country — over 500 in number — and they teach students in over 12 languages.
Volopay , a Singapore-based fintech startup, raised a $29 million Series A in debt and equity financing as it seeks to further expand its footprint in Asia-Pacific, the Middle East and North Africa. . To date, Volopay has raised approximately $31.4 million since its inception in 2019, which includes its $2.1
The program is managed by the Institute of International Education (IIE), and implemented with a coalition of leading new media experts and local and international partners from the public and private sectors. Afterwards, I had a dinner with Rami at local restaurant famous for their Arabic sweets.
At the same time, as the venture market slowed dramatically and suddenly, raising capital was much harder. In a press release , co-founder and chairman Amit Haller said “the challenging real estate and financial market conditions and unfavorable capital-raising environment” led to the decision to wind down operations. Ahem, Brex).
The reasons were unclear, as both parties didn’t publicly comment on the situation; however, from various local news outlets, they ranged from mismanagement of funds to failure to report to the board and work out a potential merger, as well as internal disagreements over management methods. Founders versus investors.
Less than seven months after closing on a $57 million Series B , fast-growing fintech Jeeves has raised $180 million in a Series C round that values the company at $2.1 Financial technology companies raising multiple rounds in a short period of time has become more the norm than an exception as of late.
A few years ago, Richard Schrems was working as a human resources consultant in Riyadh, and at one point sought to implement a tech-solution for his clients to help them better their huge teams, but couldn’t find a localized solution. With a similar, but localized approach, we believe that palm.hr For instance, in SaudiArabia, palm.hr
For the unacquainted, Ramp is a spend management startup that last August raised $300 million at a $3.9 Other prominent players in the space include Brex, which last month announced a $300 million raise at a $12.3 It is gearing up to formally launch in the UAE and SaudiArabia in the coming weeks. billion valuation.
In July 2020, Paymob raised $3.5 An additional $15 million was raised from the same investors led by Dubai-based VC firm Global Ventures. The total raise of $18.5 Regional expansion (with an imminent entry into SaudiArabia this year) is one of Paymob’s objectives following this raise.
The exceptional capacity of Langoo in its local business with Riiid Tutor was the main reason for this acquisition,” said co-founder and CEO of Riiid YJ Jang. The company expects to address local remote learning and education in the market. The Japanese remote learning industry was estimated at $2.6 billion in 2020, increasing 22.4%
Earlier this year, the company raised a whopping $709 million , which is no doubt going to help fuel this expansion. Other deals that caught my attention this week … BattGenie , a University of Washington startup that developed software to improve performance of batteries, raised $1.5 and Canada, has just raised a $43.5
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