My Startup World Staff
Tamara secure $150 million in debt financing from Goldman Sachs
Tamara, the leading shopping and payments platform in Saudi Arabia and the wider GCC region has closed a receivables warehouse facility of up to $150 million from Goldman Sachs. The latest round brings Tamara’s total funding in equity and debt up to $366 million since its launch in September 2020.
Flat6Labs launches $95 million Seed Fund to back African early-stage startups
Flat6Labs, has announced the launch of a new $95 million Seed Fund to nurture the growth and development of early-stage tech startups on the African continent. Flat6Labs has a proven track record in carefully vetting out and investing in promising startups in North Africa
PwC reports exceptional M&A activities in the Middle East
PwC Middle East released its 2023 TransAct Middle East report titled, “Gulf exceptionalism creates M&A opportunities despite global headwinds,” which offers insights on the Merger & Acquisition (M&A) and Capital market activity across the Middle East region during 2022 and the trends being seen that will potentially impact M&A activity going forward.
COFE raises $15 million in Series B funding round
COFE, MENA’s premiere online coffee marketplace has announced the successful completion of its Series B funding round, raising $15 million in investment capital. Coming onboard as the lead investor is WAED Ventures, the $500 million Saudi-focused VC Capital Fund wholly owned by Aramco.
Dubai SME and India Accelerator launch iAccel Gulf Business Incubator
India Accelerator, India’s only seed accelerator programme with Global Accelerator Network, has launched the iAccel Gulf Business Incubator (iAccel GBI) in Dubai under Dubai SME, an agency of Dubai’s Department of Economy and Tourism (DET) further reinforcing
Saudi Financial Academy and AstroLabs to launch fintech bootcamp
The Saudi Financial Academy and AstroLabs have come together to offer a future-forward data for fintech training program aimed at inspiring the next generation of fintech pioneers in Saudi Arabia.
Sav raises $ 750,000 in pre-seed round
Sav, a leading innovator in the personal savings space, announced the successful closure of its pre-seed funding round, raising $750,000. The funding was raised from prominent angel investors and fintech leaders in the MENA region.
Collapse of Silicon Valley Bank threatens a wider financial crisis
The collapse of Silicon Valley Bank (SVB) threatened to prompt a wider financial crisis and the authorities had no choice but to roll out emergency measures, says the CEO of one of the world’s largest independent financial advisory, asset management and fintech organisations.
Kara raises SAR2.2 million in a pre-seed round
Kara, a startup that specializes in providing renting services for consumer electronic devices to institutions, announced the closing of its first investment round in the pre-seed stage, at a value of SAR 2.2 million, with the support of Falak Investment Hub, Lean Node, and a group of angel investors.
Social Development Bank pledges $6.4 billion to fund entrepreneurs in KSA
Today, the Social Development Bank (SDB) pledged $6.4 billion to fund entrepreneurs, small and medium-sized enterprises (SMEs), and freelancers across the Kingdom over the next three years.
Saudi startup, White Helmet wins Entrepreneurship World Cup at Biban 2023
Saudi Arabia-based startup, White Helmet, a platform to manage and monitor construction operations remotely, from anywhere and at any time emerged the victor of the Entrepreneurship World Cup (EWC) and richer by $300,000, after four days of fierce competition, with 100 startups from 53 countries.
GoDaddy and Monsha’at to empower SMEs and young entrepreneurs in Saudi Arabia
GoDaddy signed a partnership agreement with Saudi Arabia’s General Authority for Small and Medium Enterprises (Monsha’at) during Biban 23 to empower and inspire SMEs and young entrepreneurs to take their businesses online.