Lagos, Nigeria: Raenest, the global multi-currency accounts platform for individuals and businesses across Africa, today announced the completion of its $11M Series A funding. The round was led by QED Investors, with participation from Norrsken22, alongside follow-on investment from Ventures Platform, P1 Ventures, and Seedstars. This equity-based capital injection brings Raenest’s total venture funding to $14.3M. With this new funding, Raenest […]
Cairo, Egypt – Beltone Venture Capital has announced its latest strategic equity investment in LNKO, a pioneering omni-channel direct-to-consumer (D2C) eyewear startup. This investment is part of Beltone Venture Capital’s ongoing expansion strategy across Africa, aimed at supporting transformative businesses with high-growth potential. Since its inception four years ago, LNKO has rapidly emerged as a leader […]
Cairo, Egypt – Giza Systems, a leading digital transformation enabler in the MENA region, has signed a Memorandum of Understanding (MoU) with Egypt Ventures, a government-backed venture capital firm. This strategic collaboration is set to foster innovation in the healthcare and fintech sectors by connecting Egyptian startups with Giza Systems’ vast expertise in digital transformation […]
February 4, 2025 – Khazna, a leading financial Super App that offers easy-to-use, technology-driven financial services to underserved segments, announces closing a $16 million pre-Series B funding round. The round saw participation from new and existing investors including SANAD Fund for MSME, anb Seed Fund (managed by anb Capital), Aljazira Capital (the investment arm of […]
Cairo-based venture capital firm Foundation Ventures has raised $25 million through its second fund – FVFII – to support the country’s early and growth-stage startups. The firm’s new fund has attracted investors, including the Egyptian American Enterprise Fund (EAEF), the Micro, Small, and Medium Enterprise Development Agency (MSMEDA), and businessman Onsi Sawiris. The FVFII fund […]
Cairo, Egypt – Just2Pay and Swypex, two leading fintech companies specializing in financial solutions, have announced a strategic partnership aimed at enhancing financial operations and providing innovative, secure solutions for businesses in Egypt. Under this partnership, Just2Pay’s advanced business management systems will be integrated with Swypex’s cutting-edge payment solutions, offering businesses a seamless and efficient […]
Kuwait Finance House (KFH) Group has announced the official rebranding of Ahli United Bank – Egypt to Kuwait Finance House Bank – KFH Egypt, following its full acquisition of Ahli United Bank Group – Bahrain, as per an emailed press release. The bank has now fully transitioned to operating under Islamic banking principles as part […]
Simplex, a rising startup in the field of CNC machine manufacturing, secures $13 million, as part of Saudi efforts to support and localize advanced industries within the Kingdom. Simplex will use the fund to open a huge factory which set to be built on a 20,000 square meter site in Riyadh, the Saudi capital, will […]
MENA: Fincart.io, a platform that helps e-commerce SMBs improve shipping and unlock working capital, has announced today that the company has successfully closed its pre-seed funding round for an undisclosed amount. The round was led by Plus VC, the most active VC in the MENA, with participation from leading regional and international investors such as Plug […]
Cairo, Egypt: Mastercard announced a collaboration with Money Fellows, a mobile app for money circles, also known as ROSCA model (Rotating Savings and Credit Association) and Banque Misr to launch Money Fellows prepaid card in Egypt. This prepaid card will enable Money Fellows to offer financial planning, savings, and credit access to its users in Egypt. Driven […]