Entrepreneurship
    3 mins ago

    Penny Software KSA-Based closed a Pre-Series A funding round

    Saudi Arabian company Penny Software has announced the closure of a Pre-Series A funding round Led by Iliad Partners and GSI, the round also included Knollwood Investments from the US, as well as previous investors such as Dalal Investment, Al-Tuwaijri Family Fund, Oryx Fund, and angel investors. The deal value has not been disclosed.Founded in 2020, Penny provides procurement management solutions for businesses, allowing companies of all sizes to streamline their purchasing and payment processes through its platform. It also offers a marketplace that enhances procurement management across multiple sectors.In January 2022, the company announced the closure of a Seed…
    Economic and Investment
    1 week ago

    Egypt, Saudi Arabia, and UAE collectively represent 70% of the total 50 strongest fintech in the Middle East for the year 2024

    Forbes Middle East has revealed its list of the “Top 50 Financial Technology Companies in the Middle East,” including electronic payment companies, open banking platforms, as well as investment, savings, and lending applications.Forbes considered several factors when compiling the list, such as funding value from investors and venture capital firms, valuation, as well as the volume of transactions executed by the companies through digital channels in 2023. They also took into account the number of active users and the impact of the service on individual consumers and businesses, along with the number of countries each company operates in, and the…
    Entrepreneurship
    2 weeks ago

    Daleel has successfully secured investments from HPE Spring Studios

    Bahrain-based company Daleel has successfully secured investments from HPE Spring Studios, a venture builder supported by Bahrain’s sovereign wealth fund’s Oasis Fund and global investment company Hambro Perks, as well as Flat 6 Labs UAE, a capital investment company for early-stage startups in the Middle East and North Africa region. Founded in 2022 by Dania Al-Shaikh, PK Shivastava, and Rida Shah, Daleel assists individuals in taking control of their financial affairs and helps banks and financial institutions leverage data to acquire customers more effectively. By creating a connected financial journey, it enables both consumers and financial institutions to make informed…
    Economic and Investment
    2 weeks ago

    Saudi digital services company, Lahant, officially announces its transition to a joint-stock company

    Saudi digital services company, Lahant, announced its official transition to a joint-stock company to expand operations and strengthen its presence in the local market.Led by a dedicated team, including CEO Mohammed Ibrahim, CTO Ahmed Saber, Chief Regulatory Officer Ziad Al-Sulais, and Chief Strategic Officer Khaled Al-Sulaimi,Lahant plans to launch its trial version in Q2 2024, offering a user-centric experience through various channels such as the website, apps, and WhatsApp.Lahant is developing intelligent systems to automate services, with the first fully automated service expected in Q3 2024.The company recently secured a successful pre-seed investment round of 1.2 million SAR, reflecting investor…
    Entrepreneurship
    2 weeks ago

    Had Ed-tech secures an initial investment round for SAR 18.75 million

    HAD Saudi Arabia, a specialized Ed-tech company, secured its first investment round with Dar Al-Majd for Investment, amounting to SAR 18.75 million (USD 5 million). HAD was founded in 2020 by Amin Al-Zahrani and focuses on providing various educational products such as the “Alumni” Arabic application, the Arabic dictionary, and “Arabic on Air”. This funding round will support HAD in expanding its business operations, growing its customer base, and exploring more promising opportunities in the field of e-learning technologies and products.
    Entrepreneurship
    3 weeks ago

     Sprints has raised $3 million in a new funding round led by Disruptech fund

    Egyptian company “Sprints,” specializing in educational technology, has announced its success in securing $3 million in a new funding round called the Bridge Round. The round was led by Disruptech fund, along with investments from EdVentures and CFYE, as well as other investors. Founded in 2020 by Ayman Bassarua and Bassam Sharqawi, Sprints provides comprehensive solutions to bridge the talent gap in the technology sector. Their solutions include talent assessment, personalized learning journeys, job placement with competitive salaries, and support for graduates’ career growth. Sprints has delivered over 52,000 learning experiences and has collaborated with governments in Egypt, Saudi Arabia,…

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