SC Ventures, Standard Chartered’s innovation, fintech investment and ventures arm, and Yabx Technologies (Netherlands) B.V., a company of Tech Mahindra (NSE: TECHM) group, a leading global provider of technology consulting and digital solutions to enterprises across industries, have signed a set of shareholder and technology collaboration agreements to formalise their joint investment in Furaha. SC Ventures has invested $ 7 million, while Yabx BV has contributed through technology transfer, resulting in a combined investment of $10 million in Furaha. Incubated by SC Ventures, and co-founded by Yustus Aribariho and Ian Fernandes, Furaha is a purpose-driven lending platform aiming to make…
Author: Mohamed Fathy
Global education consultancy EDT&Partners and Egyptian skills development startup Eyouth announced a groundbreaking partnership aimed at equipping one million young people across Africa and the Middle East with essential digital skills. The collaboration, backed by a $6 million investment, will focus on training individuals aged 15 to 35 in key areas such as artificial intelligence, programming, data analysis, digital marketing, and modern pedagogy, leveraging advanced digital tools and strategic educational frameworks. Bett 2025 The initiative, unveiled at Bett 2025, the world’s leading education technology event, underscores the transformative power of technology and collaboration in shaping the future of education and…
MoneyHash, the first and leading payment orchestration platform operating in the Middle East and Africa (MEA), has secured $5.2M in pre-A funding. Flourish Ventures – a global fintech investor behind industry leaders like Chime, Flutterwave, FairMoney, and Neon – led the round, adding to its portfolio of over 100 fintech startups. Additional investors include Saudi’s Vision Ventures, Arab Bank’s Xelerate, and Emurgo Kepple Ventures. The round features the participation of Jason Gardner, founder and former CEO of Marqeta, as his first MEA investment. The round also saw continued support from existing investors COTU, RZM Investment, and Github founder Tom Preston-Werner.…
Hamilton, a protocol specializing in tokenizing Real-World Assets (RWA) on Bitcoin, closed a $1.7M pre-seed funding round led by DisrupTech Ventures. traditional finance With participation from CMS, DeSpread, Hyperithm, Core Ventures, and other strategic investors, Hamilton is bridging traditional finance with Bitcoin by making tokenized real-world assets—such as T-Bills, Sukuk, and real estate—accessible to institutions and individuals worldwide. Co-founded by Mohamed Elkasstawi and Ehab Zaghloul, seasoned blockchain and fintech innovators with extensive experience in emerging markets, Hamilton leverages Bitcoin’s unmatched security and decentralization to tokenize real-world assets. With the RWA market projected to reach $30 trillion by 2030, Hamilton is…
Talent 360, a leading provider of integrated HR solutions, is thrilled to announce the successful closure of a six-figure investment round led by C.STAR, is a prominent Saudi business development and startup ecosystem empower support. This collaboration will enable Talent 360 to expand its presence in Saudi Arabia, strengthen its role in the Kingdom’s growing business ecosystem, and introduce AI-powered HR solutions that redefine how businesses manage their talent and operations. significant progress Since entering the Saudi market in mid-2024, Talent 360 has made significant progress, acquiring clients across diverse industries and establishing itself as a trusted partner for businesses.…
“Abjjad,” the leading e-reading platform in the Arab world, announced new leadership changes aimed at strengthening its ambitious growth and expansion strategy. The changes included the promotion of Eman Hylooz, the founder, to the position of Executive Chairwoman, and the appointment of Dr. Sally Elakkad as the new Chief Executive Officer. new phase of success The recent decisions came 12 years after Abjjad’s founding, in a move aimed at amplifying the app’s leadership and guiding it towards a new phase of success and innovation to serve Arab readers worldwide. Eman Hylooz is the founder of Abjjad, the world’s largest Arabic…
Sigma Capital, a United Arab Emirates-based Web3 venture fund, announced the launch of its $100 million blockchain startup fund to help propel firms building in decentralized finance aka DeFi, blockchain infrastructure, real-world asset tokenization, gaming, and the metaverse. early-stage projects The fund will focus on early-stage projects, while actively managing a portfolio of liquid tokens and high-yield DeFi strategies to optimize its portfolio performance. “We envision a digital economy that is more open, inclusive, and innovative,” said CEO and Managing Partner Vineet Budki, in a statement. “This fund empowers startups with capital, equips them with access to our exclusive network…
Raseedi, a leading fintech player serving Egypt’s millions of underbanked masses through its daily fintech app, has acquired Kashat, which in its role owns Pharos Microfinance S.A.E, a subsidiary of Kashat, in an equity deal to broaden its product offerings and introduce instant loans. The acquisition The acquisition builds on Raseedi’s mission to introduce underbanked masses who have no previous fintech experience or credit history through its unique daily stickiness approach. By providing masses with a dialer app to make cheaper calls, Raseedi users open the app at least 200 times/month to make calls and slowly introduces them to online…
Network International (Network), a leading enabler of digital commerce in the Middle East and Africa, has partnered with Money Fellows, the leading money circles app, to power a new solution that will leverage its best-in-class payment functionality. Digital Payments as a Service Under the partnership, Network will provide Money Fellows with its ‘Digital Payments as a Service’ platform with value added services including advanced fraud prevention, fully secure payment functionality, as well as a full suite of back office managed services. This platform will enable Money Fellows to enhance the app’s versatility and user experience. Utilising its pan-regional experience, Network…
Egypt’s Information Technology Industry Development Agency (ITIDA) has launched ITIDA Gigs, a new initiative designed to enhance the freelancing skills of young Egyptians. The program targets training and equipping 20,000 university students and fresh graduates, empowering them to succeed in the freelance market by improving their capabilities and increasing their chances of securing freelance opportunities. digital freelance The initiative comes in partnership with EYouth, an Egyptian EdTech startup with a strong footprint across the Middle East and Africa. ITIDA Gigs is open to young people aged 18 and above with a good understanding of one or more IT-related fields, including…
PayMint, a leading financial technology company, has announced that it has obtained final approval from the Central Bank of Egypt to launch its first Meeza prepaid cards in partnership with Abu Dhabi Islamic Bank – Egypt (ADIB-Egypt). flexible solutions This milestone aligns with the bank’s continuous efforts to collaborate with FinTech companies to provide flexible solutions that contribute to advancing financial inclusion in line with the vision of the Egyptian government and the Central Bank of Egypt. The initiative supports the transition towards a cashless society, offering comprehensive digital solutions that meet customers’ needs. The new card will allow PayMint…
EdVentures, the leading EdTech-focused corporate venture capital firm in MENA, has announced six-digit investments in two promising EdTech startups through its innovative EdTech Ventures Studio (EDVS) program. This new funding expands EdVentures’ portfolio to a total of 24 startups. Launched earlier this year in partnership with the Challenge Fund for Youth Employment (CFYE), the EDVS program aims to accelerate the growth of the EdTech ecosystem in Egypt and the broader Middle East. two newly funded companies The two newly funded companies, Schoolz and Ibn Sina Training Academy, were chosen from a competitive pool of ten startups in the inaugural EDVS…
EdfaPay is pleased to announce the obtaining of a technical license as a Mobile Point-of-Sale (Soft-POS) technology provider from the Saudi Central Bank (SAMA). This milestone aligns with EdfaPay’s continuous efforts to enhance digital innovation in the payments sector and provide advanced and secure technological solutions that meet the needs of businesses, enterprises, and freelancers in Saudi Arabia. The Soft-POS technology, which operates using the TMS II system, enables smart devices to transform into efficient point-of-sale terminals. This supports digital transformation and expands the scope of cashless payments with ease and security. Eng. Ghurmallah Abdulaziz Al-Ghamdi, CEO and Co-Founder of…
myLAHLOOB, myGINNE’s newest service that launched on 12th of December 2024, delivers groceries in only 9 minutes in El Rehab City and soon will be available many other places across Egypt. The service empowers the local retailers and delivery boys, guaranteeing their daily sustenance. myLAHLOOB solved the hard equation by offering the fastest grocery delivery to consumers and setting up new benchmark in quick commerce (Q-Com). myLAHLOOB creates a phenomenon in the grocery delivery sector in Egypt. It introduces a single digit delivery time that almost no one has ever experienced before. Leveraging advanced technology and extensive research, myGINNE’s tech…
Paymob, the leading financial services enabler in the Middle East and North Africa (MENA), announces its expansive merchant network will be able to accept Apple Pay in Egypt, enabling consumers to use their Apple devices to seamlessly and securely make purchases in-store, in-app and online. The milestone marks a significant transformation in the country’s digital payments landscape, following the recent launch of Apple Pay in Egypt. Paymob’s integration of Apple Pay allows merchants across Egypt to provide their customers with an easy, secure and private payment experience. To pay in store, customers simply double-click the side button and hold their…
OSN Group has acquired 55.45% in Anghami, giving it a majority stake at a valuation of $3.69 per share, 1.9x the closing price of the stock on Thursday 28th of March. This deal will result in a company with over 120 million registered users, circa 2.5 million paid subscribers and close to $100 million in revenue at closing. The combined entity brings together OSN+’s premium and exclusive library of 18,000 hours of video content with Anghami’s rich catalog of more than 100 million songs and podcasts. Moreover, it will benefit from Anghami’s strong tech stack, delivering an enhanced streaming experience…
MNT-Halan, Egypt’s leading fintech company and first unicorn, has entered the UAE market, marking a key milestone in its rapid expansion across the region. With its financial super app, MNT-Halan will deliver innovative and accessible financial solutions to underserved communities and businesses. The company’s first offering in the UAE is Halan Advance, a fast, secure, and user-friendly salary financing solution, with additional services from its ecosystem set to follow. financial landscape MNT-Halan’s entry into the UAE underscores its commitment to reshaping the financial landscape. With its cutting-edge technology, deep understanding of underbanked markets, and compliance with CBUAE regulations, MNT-Halan is…
Under the Patronage of Sheikha Salama Bint Tahnoon bin Mohammed Al Nahyan and in the presence of Sheikh Tahnoon bin Khalifa bin Mohammed Al Nahyan, Abu Dhabi is hosting the third edition of the annual Forbes Middle East Under 30 Summit for the first time, which kicked off today at Umm Al Emarat Park. This remarkable gathering unites global leaders, entrepreneurs, and changemakers for thought-provoking panels, impactful discussions, and collaborative innovation. Celebrating leadership, creativity, and vision, the summit highlights pioneering ideas and achievements driving the future. The first day welcomed distinguished attendees, including H.E. Mohamed Bin Taliah, Chief of Government…
Hudhudshop, the leading e-commerce platform headquartered in Qatar, proudly announces its successful acquisition of a six-figure Dollar in a pre-seed funding round. Specializing in the distribution of premium Turkish products throughout the Gulf region and beyond, including Qatar, Saudi Arabia, Kuwait, Bahrain, Oman, the UAE, and Jordan, Hudhudshop has quickly become synonymous with quality and diversity. Boasting a vast inventory of over 50,000 products and an impressive track record of +13,000 sales within just 10 months, Hudhudshop has solidified its position as a key player in the e-commerce landscape. The platform offers a range of essential services, such as “Q…
NymCard, the leading payments infrastructure provider in the MENA region, announced a strategic partnership with eNovate, a subsidiary of eFinance Investment Group and Egypt’s leading card manufacturing and personalization services provider. This partnership aims to complement NymCard’s comprehensive payment solutions by integrating eNovate’s advanced card production and personalization capabilities. The partnership is considered a step forward towards NymCard comprehensive financial solutions offered to our clients, covering card issuance and processing, alongside card production and personalization services. This integrated approach streamlines the payment card lifecycle for NymCard partners across the region. “Our collaboration with eNovate creates a one-stop solution that addresses…