Weekly Startup Ecosystem Overview in the Middle East and North Africa (MENA) / October 18 - 25

Last week, there were 5 startup investments and 1 secondary transaction in the MENA between October 18 - 25:

Investments:?

3 United Arab Emirates (UAE), 1 Kingdom of Saudi Arabia (KSA), 1 Morocco

Secondary Transactions:

1 United Arab Emirates (UAE)

Sectors Received Investments:

1 Financial Services

1 Proptech

1 Car Sharing & E-Commerce

1 B2B

1 Logistics

News of the Week

?? Fintech startup Abhi raised $15 million.

Abhi, a fintech that focuses on financial inclusion for employees and SMEs throughout the MENAP region, has raised $15 million in debt financing from Shorooq Partners and Amplify Growth Partnership.

Transaction Type: Investment

Investors: Shorooq Partners, Amplify Growth Partnership

Co-founders: Ali Ladhubhai, Omair Ansari

Headquarters: United Arab Emirates (UAE)

?? Real estate ecosystem Prypco raised $10 million.

Prypco, which facilitates owning real estate through its four-veritcal offers: Prypco Blocks, Prypco Mortgage, Prypco Exclusives, and Prypco Golden Visa, has raised $10 million in Seed funding round from Shorooq Partners, Apparel Group and other investors.

Transaction Type: Investment

Investors: Shorooq Partners, Apparel Group, other investors

Co-founders: Amira Sajwani

Headquarters: United Arab Emirates (UAE)

?? Car subscription platform invygo raised $8 million.

?Ganjoo, is an app-based service that allows people to choose, drive, swap, and own cars with presence in KSA, UAE, and Qatar, has raised $8 million in Series A funding round from NICE Fund, Al Rajhi Partners, Arab Bank Ventures, SPV, MEVP and C5.

Transaction Type: Investment

Investors: NICE Fund, Al Rajhi Partners, Arab Bank Ventures, SPV, MEVP, C5

Co-founders: Eslam Hussein, Pulkit Ganjoo

Headquarters: United Arab Emirates (UAE)

?? B2B BNPL platform Mala raised $7 million.

Mala, a B2B platform that offers SMEs a procure-now-pay-later (PNPL) solution with flexible credit terms while ensuring suppliers receive immediate cash payments, has raised $7 million in pre-Seed funding round from VentureSouq, Shorooq Partners, M Capital, BECO Capital, Access Bridge Ventures, Waad Investment, Palm Ventures and D Global Ventures.

Transaction Type: Investment

Investors: VentureSouq, Shorooq Partners, M Capital, BECO Capital, Access Bridge Ventures, Waad Investment, Palm Ventures, D Global Ventures

Co-founders: Musaab Hakami

Headquarters: Kingdom of Saudi Arabia (KSA)

?? Cross-border logistics startup Colis.ma raised $300.000.

Colis.ma, which specialises in cross-border logistics that targets both individuals and SMEs, with a vision to connect more African countries with the European continent, has raised $300.000 in pre-Seed from Witamax.

Transaction Type: Investment

Investors: Witamax

Co-founders: Issam Darui

Headquarters: Morocco

?? Best Kept Shared acquires BAZAARA.

E-commerce platform Best Kept Shared has acquired P2P fashion resale platform BAZAARA.

Transaction Type: Acquisition

Investors: Best Kept Shared

Co-founders: Alyssa Mariano

Headquarters: United Arab Emirates (UAE)

???StartupCentrum

Find the best startup jobs or launch your future unicorn company, meet the best talents and startups, and get in contact with international accelerators and investors to grow!

For more information?startupcentrum.com

To take part in the StartupCentrum Entrepreneurship Ecosystem Summary of Turkey, MENA or Europe series and to be our supporter:?[email protected]