Weekly Startup Ecosystem Overview in the Middle East and North Africa (MENA) / October 4 - 10

Last week, there were 7 startup investments and 1 secondary transaction in the MENA between October 4 - 10:

Investments:?

3 United Arab Emirates (UAE), 2 Kingdom of Saudi Arabia (KSA), 1 Kuwait, 1 Oman

Secondary Transactions:

1 Kingdom of Saudi Arabia (KSA)

Sectors Received Investments:

3 Financial Services

1 Proptech

1 Shipping

1 Software

1 E-Commerce

News of the Week

?? Fintech startup OCTA raised $2.25 million.

OCTA, which automates the process of collecting payments for SMEs, which? improves cash flow management and reduces the pain of accounts receivable, has raised $2.25 million in pre-Seed funding round, co-led by Quona Capital and Sadu Capital. Sukna Ventures, Plus VC, 500 Global, Pawel Iwanow and Dom Monhardt also participated in the investment round.

Transaction Type: Investment

Investors: Quona Capital, Sadu Capital, Sukna Ventures, Plus VC, 500 Global, Pawel Iwanow, Dom Monhardt

Co-founders: Jon Santillan, Nupur Mitta, Andrey Korchak

Headquarters: United Arab Emirates (UAE)

?? Payment solutions provider Krti raised $1.5 million.

Krti, which provides payment solutions for both online merchants and shoppers to empower the e-commerce sector, has raised $1.5 million in pre-Seed funding round from Core Vision Investment.

Transaction Type: Investment

Investors: Core Vision Investment

Co-founders: Abdulrahman Al Hammadi, Naser Boresli, Abdullah AlBaker

Headquarters: Kuwait

?? BNPL platform QPay raised funding.

QPay, which offers Buy Now?Pay Later (BNPL) financial services in Oman, has raised an investment in Seed funding round from Cyfr Capital.

Transaction Type: Investment

Investors: Cyfr Capital

Co-founders: Khalid Al-Mahrooqi, Ali Al-Lawati

Headquarters: Oman

?? Proptech startup Ejari raised $14.65 million.

Ejari, which offers a rent now, pay later (RNPL) solution tailored for Saudi Arabia’s real estate rental market, has raised $14.65 million in Seed funding round from Partners for Growth (PFG), BECO Capital, anb seed, Rua Ventures, Alinma Bank (Alinma Pay), Vision Ventures, Aqar and Salica Oryx Fund.

Transaction Type: Investment

Investors: Partners for Growth (PFG), BECO Capital, anb seed, Rua Ventures, Alinma Bank (Alinma Pay), Vision Ventures, Aqar, Salica Oryx Fund

Co-founders: Yazeed Al-Shamsi, Fahad Albedah, Mohammed Alkhelewy,, Khalid Almunif

Headquarters: Kingdom of Saudi Arabia (KSA)

?? Dropshipping service 4Partners raised $3.6 million.

4Partners, which helps businesses launch and scale online stores by handling inventory, shipping, and order fulfilment through its network of warehouses in MENA, Europe, Asia and the USA, has raised $3.6 million from undisclosed investors.

Transaction Type: Investment

Investors: -

Co-founders: -

Headquarters: United Arab Emirates (UAE)

?? Decentralized data storage solutions provider Botanika raised $1.5 million.

Botanika, which builds an efficient, hyper-scalable, decentralized data storage network powered by its proprietary B1 hardware nodes, has raised $1.5 million from angel investors.

Transaction Type: Investment

Investors: Angel investors

Co-founders: -

Headquarters: United Arab Emirates (UAE)

?? E-commerce platform Yamm raised funding.

Yamm, an e-commerce platform that offers a method for refunding customers' money, has raised an investment in pre-Seed funding round. The investment round was led by Flat6Labs, with participation from Judah Ventures and angel investors.

Transaction Type: Investment

Investors: Flat6Labs, Judah Ventures, angel investors

Co-founders: Sultan Al-Subhi, Mohammed Al-Shalati, and Hamadah Al-Khaldi

Headquarters: Kingdom of Saudi Arabia (KSA)

?? Nana acquires Rasseed.

Grocery shopping and delivery platform Nana has acquired ?e-commerce platform Rasseed.

Transaction Type: Acquisition

Investors: Nana

Co-founders: -

Headquarters: Kingdom of Saudi Arabia (KSA)

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