MDP, a leading payments technology infrastructure group in the Middle East and Africa, is pleased to announce a new phase of growth following a strategic investment led by Lorax Capital Partners (“LCP”). The transaction marks the exit of long-time partner AfricInvest, whose support has been instrumental to the group’s expansion in recent years. Payments Technology MDP delivers a fully integrated, one-stop-shop payments technology infrastructure ecosystem from card issuing, processing to cloud-native digital solutions through industry-leading developer platforms and embedded fintech capabilities to over 200 banks and 60 fintechs across Africa and the Middle East. To date, MDP has processed over…
Author: Mohamed Fathy
Cyshield, a leading digital solutions company, selected Thales a world leader in secure advanced technologies to launch Egypt’s first-ever eSIM (embedded SIM) connectivity services for consumer and IoT devices. Based in Cairo, Cyshield is supporting Egypt’s four mobile network operators in connecting eSIM devices in the country, optimising the user experience and enabling flexible subscription services for eSIM-enabled smartphones, smartwatches and other IoT devices. Thales provides Cyshield with its leading eSIM Management platform, to enable fast and secure over-the-air downloads of mobile subscriptions to devices, leveraging proven expertise and capabilities to address sovereignty challenges. In addition, it ensures compliance with…
CorporateStack, a leading provider of enterprise software solutions in the MENA region, is pleased to announce the signing of a strategic partnership with Invictus Trading, a subsidiary of Invictus Investment (ADX: INVICTUS), a leading agro-food enterprise in the Middle East and Africa. Digital Transformation This collaboration marks a major step for both organizations as they leverage the power of digital transformation to enhance operational efficiency and enable smarter business growth. Under this partnership, CorporateStack will provide Invictus Trading with a suite of modern, cloud-based business applications, including human resource management, asset management and other workflow automation tools. By adopting CorporateStack’s…
The Technology Innovation and Entrepreneurship Center (TIEC), an affiliate of the Information Technology Industry Development Agency (ITIDA), has announced the launch of the 47th round of its Start IT incubation program. Applications are open until May 24, targeting early-stage startups with innovative ideas and ICT-based prototypes to help them transform their concepts into scalable and growth-ready startups. Package of Incubation Benefits In line with its continued efforts to empower the entrepreneurial ecosystem, TIEC has unveiled an enhanced package of incubation benefits for this round. Key updates include a significant increase in the financial and in-kind support, reaching EGP 480,000 up…
Sylndr, Egypt’s leading used-car marketplace, today announced the closing of its $15.7 million Series A equity round, led by Development Partners International (DPI) Venture Capital via the Nclude Fund, with participation from Algebra Ventures, Nuwa Capital, Raed Ventures, Egyptian Gulf Holding, Uncovered Fund, Beltone Venture Capital, and Camel Ventures. Mobility Landscape This round supports Sylndr’s mission to digitise and bring transparency to every aspect of Egypt’s mobility landscape, from buying and selling to financing and insuring. “We’re incredibly excited about this new chapter and deeply grateful for the support and belief our shareholders continue to place in our mission,” said…
Artificial intelligence developments are endless, and competition among global companies operating in this field is fierce, particularly American and Chinese companies. To gain a closer look at these developments, we decided to contact officials within these companies to provide us with a closer look. It all began with the Chinese company DeepSeek, founded in May 2023 by Liang Wenfeng, a prominent figure in the hedge fund and artificial intelligence fields. The company generated widespread interest worldwide after successfully developing advanced open-source models designed for programming tasks at competitive prices. It also implemented ambitious AI projects without pressure, allowing it to…
“Bokra, the MENA region’s first goal-driven digital investment platform, has announced a $3 million Sharia-compliant financing agreement with iSUPPLY, a leading digital platform for pharmaceutical and medical supply distribution, to scale its operations and expand access to medical supplies across Egypt. Improving Service Through this collaboration, Bokra has structured a revenue-based revolving financing, structured entirely in accordance with Sharia principles. This funding will fuel iSUPPLY’s expansion by enhancing its supply chain operations and improving service in underserved communities. Ayman ElSawy, Founder and CEO of Bokra, commented: “This partnership reflects Bokra’s mission to unlock high-impact, Sharia-compliant investment opportunities that generate meaningful…
Shahbandr, a pioneering platform enabling merchants and e-commerce entrepreneurs, has unveiled its proprietary video commerce technology —transforming the online shopping experience across the MENA region. This innovation allows merchants to offer seamless and fast purchasing experiences through live video and interactive product showcases. Online Stores Shahbandr empowers merchants to build their online stores without needing technical expertise. It offers a full suite of tools—handling payments, delivery, website performance, and data analytics—allowing them to focus entirely on growing their business. With this launch, Shahbandr gives online retailers the power to offer live, interactive video experiences that don’t just show off products.…
Money Fellows, Africa’s leading fintech digital platform, has successfully raised $13 million in this new financing round. This strategic extension brings the total amount invested in the company to over $60 million USD since its inception. The new investment aims to enhance and upgrade the company’s digital platform, especially as its user base expands to over 8.5 million users and it continues to collaborate with more than 350 local and regional partners. Support The Company’s Expansion This new round of investment is co-led by Al Mada Ventures (AMV) and DPI Venture Capital via the Nclude Fund, with notable contributions from…
In a move underscoring strong confidence in the emerging tech sector, “Foras,” a leading investment and innovation firm, has announced the acquisition of a 10% stake in the startup “Canater,” which specializes in providing innovative supply chain and logistics solutions for manufacturers in the Middle East and North Africa (MENA) region. The deal, valued at $1 million, reflects Foras’ strategy to support startups transforming traditional industries through technology and innovation, powered by Artificial Intelligence (AI). Empower Regional Manufacturers This investment highlights Foras’ belief in Canater’s promising future, as the startup aims to empower regional manufacturers to expand their products into…
Klivvr, the financial app redefining how Egyptians manage their money, has officially received final regulatory approval to launch its long-anticipated Buy Now, Pay Later (BNPL) product. This marks a major milestone in Klivvr’s journey to provide smarter, more accessible, and personalized credit solutions to its users. Payment Options Klivvr’s BNPL service will allow users to instantly access flexible credit limits and split their purchases over time across a growing network of merchants. Whether shopping online or in-store, users will be able to choose more convenient and affordable payment options, without paperwork, delays, or friction. The experience is built to be…
Gaming club chain True Gamers has successfully closed a $5 million seed funding round. Backed by fresh capital, True Gamers is scaling its presence across MENA and Europe — expanding its franchise network, growing its brand, and developing its tech stack. It brings up the company’s total funding in the UAE to $15.5 million, including a pre-seed round raised in 2023 and investments made into local branches over the past two years. The company is scaling through a hybrid model of franchising and venture capital, aiming to capture 10% of the US, European, and MENA gaming cafe markets by 2030.…
Raya Data Center, a subsidiary of Raya Information Technology under Raya Holding for Financial Investments, has announced its participation in the Future of Digital Countries (FDC) Summit, held at the Egypt International Exhibitions Center from April 28 to 30, 2025 under the patronage and in the esteemed presence of His Excellency, the Minister of Communications and Information Technology, Mr. Amr Talaat. Joining forces with Raya Network Services, this collaboration emphasizes the company’s dedication to advancing digital transformation and fortifying technological infrastructure in Egypt and beyond. FDC Summit 2025 The FDC Summit 2025, themed “Innovation for a Sustainable Digital Future,” offers…
Brite, a Cairo-based SaaS company, has officially launched its AI-powered HR Business solution, designed to help organizations streamline operations, optimize performance, and put people first. The Future Of Work As MENA’s first and leading People Empowerment Platform, Brite enables the people behind the business and their teams to perform at their best. It provides the tools to simplify HR and business management while translating performance data into actionable insights. Suliman Alqhtani, Brite CEO, said “At Brite, we’re not just building tools—we’re shaping the future of work. We envision a world where every individual feels empowered, aligned, and inspired to reach…
Fifteen promising Egyptian tech startups unveiled their breakthrough innovations during the launch of the first edition of Invest-IT, a nationwide program led by the Technology Innovation and Entrepreneurship Center (TIEC)—an affiliate of the Information Technology Industry Development Agency (ITIDA)—in collaboration with Flat6Labs, the MENA region’s leading seed and early-stage venture capital firm. Designed to enhance investment readiness for tech startups in the Seed and Pre-Series A stages, Invest-IT targets emerging entrepreneurs across various Egyptian governorates, aiming to help them secure funding, expand operations, and drive sustainable economic growth through innovation. The launch event brought together key stakeholders in Egypt’s tech…
EdVentures, the EdTech-focused corporate venture capital arm of Nahdet Misr, continues to enhance Egypt’s education and employment landscape through its flagship EdTech Venture Studio (EDVS) program, in collaboration with the Challenge Fund for Youth Employment (CFYE). Launched to address systemic challenges in education, youth unemployment, and skills mismatch, EDVS provides high-potential EdTech scale-ups with curated bootcamps, strategic investment, and customized growth support through its dynamic Venture Studio model. The program is designed to accelerate innovation, promote gender inclusion, and create meaningful employment opportunities in Egypt’s rapidly evolving digital learning ecosystem. New Strategic Partnerships Driving Social and Economic Impact In its…
The Ghana Venture Capital & Private Equity Association (GVCA) is proud to announce the upcoming “GVCA 2025 Conference,” which will take place on April 24-25, 2025, at the Kempinski Hotel Gold Coast City in Accra. The Conference’s theme is “Catalysts for Economic Growth: Domestic Capital Mobilization in an Evolving Investment Landscape” and is expected to attract over 300 institutional investment stakeholders from across Africa. In line with the Association’s mission to promote entrepreneurial success in the real economy and stimulate private sector development financing, the Conference will bring together venture and private equity industry leaders to shape a future driven…
TruBuild, a Saudi-based construction technology startup co-founded by Bisrat Degefa (CEO) and Dr. Sari Sabban (CTO), has raised $1 million in Seed funding to transform how construction projects are delivered, with a focus on eliminating cost overruns, delays, and misalignment in large-scale developments. The round was led by Wa’ed Ventures, the $500 million VC arm of Saudi Aramco, and Dar Ventures, the venture capital arm of Dar. Additional participants included Plug & Play Ventures, OQAL, Taz Investment, and notable angel investors such as Simon Moon, former CEO of Atkins Middle East. TruBuild previously received early backing from Antler MENAP during…
Seesaw, the leading global PreK-12 learning experience company, has announced its acquisition of Little Thinking Minds, a MENA based female founded leading edtech specializing in Arabic literacy solutions. Trusted by over 25 million educators, students, and families worldwide, this strategic partnership positions Seesaw to expand its already significant footprint in the MENA region, strengthening its offerings with comprehensive, culturally relevant educational content and literacy tools in both Arabic and English. AI-driven learning Seesaw offers a suite of award-winning interactive and AI-driven learning tools and digital curriculum products designed to enhance student engagement, facilitate real-time assessments, and strengthen school-home communication. With…
Raya Holding for Financial Investments, a leading Egyptian investment company operating across diverse high-potential sectors, announced its consolidated and standalone financial results for the fiscal year ended December 31, 2024. The results reflect the group’s strongest financial performance to date, marking a year of exceptional profitability, strategic growth, and a milestone 25th anniversary. Raya Holding reported a 44.2% year-on-year increase in consolidated revenues, reaching EGP 45.1 billion for FY 2024. This was supported by a diversified portfolio and resilient operating model across 11 subsidiaries and 7 countries. Gross profit increased by 48% YoY to reach EGP 9.4 billion, with a…