MENA Startups Secure New Investments in Fintech & AI

Startups across the Middle East and North Africa continue to attract significant investment, with funding rounds and acquisitions shaping the region’s growing tech ecosystem. The latest business news highlights major developments in fintech, AI, and e-commerce, impacting the business newspaper landscape.

MENA Startup Investments and Acquisitions

Ori Secures Investment from Wa’ed Ventures

UK-based AI cloud infrastructure provider Ori has secured a strategic investment from Wa’ed Ventures, the venture capital arm of Saudi Aramco, as it prepares for expansion in the Middle East.

• Investment Details: Financial terms were not disclosed.

• AI Expansion: Ori recently deployed Nvidia’s H200 chips and operates in over 20 locations.

• Saudi Localization: Plans to establish a subsidiary in Riyadh to support Vision 2030.

Dubizzle Acquires Egypt’s Hatla2ee

Dubizzle Group, a UAE-based online classifieds platform, has acquired Hatla2ee, an Egyptian online car marketplace.

• Founded: 2016 by Samy Swellam

• Strategic Growth: Strengthens Dubizzle’s automotive sector presence.

• Prior Acquisitions: Recently purchased UAE-based Drive Arabia.

MANSA Raises $10M for Cross-Border Payments

MANSA, a fintech firm specializing in cross-border payments, has raised $10 million in funding.

• Pre-Seed Round: $3 million led by Tether and Polymorphic Capital.

• Liquidity Funding: $7 million from corporate investors.

• Growth: Since August, facilitated $27 million in transactions, with 574% on-chain volume growth.

Qme Secures $3M for AI Business Solutions

Qme, an Egypt-based B2B SaaS startup, has raised $3 million in seed funding led by AHOY and angel investors from the GCC.

• Founded: 2022 by Maged Negm.

• Tech Integration: AI-driven digital infrastructure for businesses.

• Growth Plans: Funds allocated to technology enhancement and market expansion.

UAE Fintech Blum Raises $5M

Blum, a decentralized exchange, has secured $5 million in funding.

• Founded: 2024 by Gleb Kostarev and Vladimir Smerkis.

• Platform: Gamified token trading via Telegram mini-app.

• Expansion: Will support multi-blockchain networks.

Tunisia’s Dabchy Raises Pre-Series A Funding

Dabchy, a Tunisia-based fashion marketplace, raised an undisclosed amount in a pre-Series A funding round.

• Founded: 2016 by Ameni Mansouri, Ghazi Ketata, and Oussama Mahjoub.

• Expansion: Plans to enter Egypt and broaden product offerings.

The Box Secures $12.5M for Storage Expansion

The Box, a UAE-based self-storage services provider, has secured $12.5 million in debt financing led by Shorooq Partners.

• Founded: 2007 by Wadih Haddad.

• Services: Storage, record management, and moving services.

• Growth: Expanding storage facilities and flagship locations.

Palm Ventures Closes $30M Early-Stage Fund

Palm Ventures, a MENA-focused investment firm, has closed a $30 million fund to support early-stage startups.

• Target Sectors: AI, fintech, and business solutions.

• Expansion: Includes US-based AI startups.

Pinewood Acquires 90.9% of Seez for $42M

Pinewood Technologies PLC acquired 90.9% of UAE-based Seez for approximately $42 million.

• Closing Date: March 19, 2025.

• Investment Strategy: Mix of cash payments and shares.

• AI and Machine Learning: Enhancing automotive intelligence solutions.

Oman Investment Authority Partners with Golden Gate Ventures

OIA has partnered with Golden Gate Ventures to boost Oman’s startup ecosystem.

• Fund Size: $100 million.

• Objective: Attract foreign investment into Oman’s tech sector.

• Global Backing: Golden Gate Ventures has invested in 100+ companies, including 9 unicorns.

Algerie Telecom Launches $11M AI Startup Fund

Algerie Telecom, Algeria’s state-owned telecom company, has announced an $11 million investment fund for AI, cybersecurity, and robotics startups.

• Forum Launch: Unveiled at Algeria’s CTO Forum.

• Startup Support: Aims to establish 20,000 new startups.

• Tech Development: Includes AI universities, incubators, and digital infrastructure expansion.

Conclusion

With a surge in investment across fintech, AI, and e-commerce, the MENA region continues to solidify its position as a hub for technological innovation. As funding rounds and acquisitions accelerate, businesses should stay informed through reliable business newspapers and business journals to navigate the evolving landscape.

Source: Arab News