Banknbox, a leading provider of banking and payment solutions, announces its first expansion in the Gulf region with the establishment of its headquarters in Qatar. The company has obtained a license from the Qatar Financial Centre (QFC) and is set to introduce its advanced and unified payment technology platform, CoreLINK, in the country. This expansion comes through a strategic alliance with Cwallet, officially signed during Web Summit 2025, reinforcing both companies’ commitment to supporting digital transformation and financial inclusion in Qatar by offering advanced digital payment processing services for banks and fintech companies. Advanced Financial Solutions Through this partnership, Cwallet…
Author: Mohamed Fathy
The Technology Innovation and Entrepreneurship Center (TIEC) of the Information Technology Industry Development Agency (ITIDA) has selected startups to join the Invest IT program, implemented in partnership with Flat6Labs. The program is designed to help Egypt-based startups at the seed or pre-Series A stages become investment-ready and successfully secure funding deals. The Selected Startups The selected startups are categorized into two stages. The seed stage includes The WhiteGuard, Dragify, HNDL, Turuq, Skoolix, Kennah, Atoms AI, and Photon Smart. Meanwhile, the pre-Series A stage features Valify, Mrkoon, Qubefyn, Venu, Amanleek, LyRise, and Hoopoe Digital. Invest IT As an innovative investment-readiness support…
Mylo, the innovative fintech company born out of B.TECH, announced that it has received official approval from the Financial Regulatory Authority (FRA) for its fully digital onboarding experience through its Fintech License, making it one of the first companies to offer this service. This landmark achievement represents a transformative leap in Egypt’s consumer finance sector, redefining customer experience by making financial access more seamless, efficient, and entirely digital. Financial Services The newly approved digital onboarding process eliminates traditional barriers to financial services by removing the need for wet signatures or in-person KYC verification. This empowers users to onboard and activate…
LoftyInc Capital Management has announced the first close of $43m for its new LoftyInc Alpha Fund, a late-seed focused investment vehicle that will drive growth for Africa’s most promising tech startups across key geographies, including Nigeria, Egypt, Kenya, and Francophone Africa. African VC Operating out of Nigeria, Egypt, and Kenya, LoftyInc is one of the African VC ecosystem’s earliest and most successful investors, with early investments in prominent startups such as Flutterwave, Andela, Wave Mobile Money, RelianceHealth, Thndr, OmniRetail, and Moove. With over a decade of venture capital experience, LoftyInc has consistently delivered strong returns to its investors while advancing…
In the midst of the digital revolution reshaping the future of media and entertainment, “Foras,” a leading investment and innovation company, announced the launch of four new digital media products targeting diverse audience segments. This ambitious plan aims to invest $20 million in digital media and gaming sectors. This announcement comes after “Foras” surpassed one billion views across all social media platforms, reshares, and screen records in 2024, through its first two products: “El Kabsoola,” in partnership with Victory Link, and “El Mal El Halal,” in collaboration with Digisay. Foras’s strategy The new products are part of Foras’s strategy to…
Entlaq, in collaboration the Netherlands Enterprise Agency (RVO), and the Embassy of the Netherlands in Egypt, is proud to announce the launch of an insightful and data-driven Fintech Report that highlights Egypt’s rapidly evolving financial technology landscape. The report provides a strategic overview of the sector, analyzing its growth potential, key market trends, challenges, and opportunities for both local and international stakeholders. Scaling Fintech in Egypt The event was hosted at the embassy and featured notable speakers, including H.E. Mr. Hossam Heiba, President of GAFI; H.E. Dr. Mohamed Farid, Chairman of the Financial Regulatory Authority (FRA). Followed by an Expert…
In a move to strengthen regional cooperation in the information and communication technology (ICT) sector, Al Dar Al Arabiya, the organizer of COMEX Oman, held a press conference in Cairo in collaboration with the Chamber of Information Technology Industry of the Federation of Egyptian Industries. The conference highlighted key investment opportunities available in the Omani market for Egyptian companies, ahead of the 34th edition of COMEX Oman, set to take place in September in Muscat, with the support of the Omani Ministry of Transport, Communications, and Information Technology. Strategic Partnerships to Foster Technological Collaboration The event was attended by top…
In a strategic move to bolster education in Egypt and solidify its status as a regional education hub, a coalition of Egyptian investors has unveiled a strategic investment of $100 million in the education sector. The significant investment is made in collaboration with Emirati, American, and Canadian experts, underlining the strategic nature of this initiative. St. Anthony The project aims to establish five modern international schools under the name “St. Anthony International Schools”. These schools will be strategically located in areas across East and West Cairo as well as coastal regions over the next five years. These schools aspire to…
Smart Medical Services (SMS), a leading digital third-party management firm specializing in HealthTech and InsurTech, has announced its participation as a platinum sponsor of the General Authority for Comprehensive Health Insurance Forum. Held under the patronage of Prime Minister Dr. Mostafa Madbouly, the event will take place on February 9, 2025, under the theme “The Pioneering Role of the Private Sector in Achieving Comprehensive and Sustainable Health Coverage.” Smart Medical Services is an Egyptian company that successfully registered its electronic program and established the Online Intelligent Platform (SMIS), which specializes in digitizing and processing both paper and electronic medical claims.…
Waad Investment, a Saudi-based investment firm, announced at the LEAP 25 that it has secured an investment from ITHCA Group, a company created by Oman Investment Authority in 2019. The investment aims to strengthen collaboration in the fields of telecommunications, information technology, and venture capital. It also seeks to enable Saudi and Omani companies to expand into the Gulf market, supporting Saudi Arabia’s Vision 2030 and Oman’s Vision 2040. Waad Investment invests in startups from the early to the growth stages. Since its launch in 2024, it has become one of the most active investors in the MENA region, having…
T2, a leading Saudi technology services and solutions provider, has announced from LEAP25 the acquisition of a majority stake in the Saudi startup platform, Moola. The acquisition will enable T2 to enter the fintech market and expand its range of services and solutions to offer broader options to its clients within and beyond Saudi Arabia. Commenting on the acquisition, a T2 spokesperson stated: “Moola provides a comprehensive expense management platform, which will help us to expand into the financial services sector and empower our clients with its capabilities. This acquisition aligns with our expansion strategy to acquire exceptional tech products…
While the MENA region drives forward with $3 trillion in infrastructure and building projects, construction companies face a critical challenge: fragmented supply chains and inefficient procurement processes that delay projects and inflate costs. Today, BRKZ announced it has completed its Series A funding at $17M, bringing total funding to $22.5M, to scale its technology platform that’s revolutionizing how contractors source and purchase building materials. Traditional procurement in construction The funding includes an $8M Series A2 round closed in January 2025, complemented by $1M in venture debt from Capifly, following the initial $8M Series A1 round from December 2023. All existing…
WideBot AI, a leading innovator in AI solutions, products, and models, has announced a groundbreaking achievement in the Arab world. The company is now hosting its advanced GenAI model “AQL” on local cloud servers in Saudi Arabia. This is a significant first in the field of artificial intelligence in Saudi Arabia. It marks the inaugural occasion on which an AI model is hosted on local cloud servers, paving the way for new opportunities in AI applications across various sectors. “AQL” Supports Saudi Vision 2030 This initiative aligns with WideBot AI’s commitment to supporting Saudi Vision 2030, spearheaded by Royal Highness…
Saudi-based AI startup vminds.ai has successfully closed a six-figure pre-seed investment round, strengthening its ability to enhance its platform. The startup also announced its official launch. The funding round was led by strategic angel investors from the various business sectors, who believed in vminds.ai’s vision and its future impact on the digital economy. advanced technology solutions vminds.ai is developed by VEEM Solutions, an award-winning, Saudi parent company specializing in advanced technology solutions, AI tools, and modern innovations. VEEM Solutions aims to make AI tools accessible to everyone by developing cutting-edge digital solutions that integrate artificial intelligence with interactive technologies such…
In a move set to redefine financial management and operational efficiency, leading financial solutions provider Just2Pay and innovative fintech company Swypex have entered into a strategic partnership. The agreement unites Just2Pay’s cutting-edge business management systems with Swypex’s advanced payment platforms, aiming to deliver a fully integrated financial ecosystem tailored to meet the dynamic needs of modern businesses. delivering seamless transaction Under the terms of the agreement, both companies will collaborate to streamline financial operations for businesses across Egypt. The partnership focuses on delivering seamless transaction synchronization and enhanced financial management capabilities. By automating the integration of Swypex’s electronic transactions and…
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. huge factory 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 be dedicated to producing advanced CNC machines. Simplex signed a Memorandum of Understanding with Saudi Arabia’s National Industrial Development Centre to establish the company’s first factory within the Kingdom of Saudi Arabia. industrial sector The announcement was made during a signing ceremony attended…
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…
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…