News
stc Group showcased its inspireU and impactU accelerators at MiSK Global Forum
stc Group has participated in the MiSK Global Forum, where it showcased the inspireU business accelerator, which supports digital startups across the kingdom, and the impactU social accelerator, which...
Tarabut & Geidea to offer SME financing solutions in KSA
Tarabut and Geidea have entered into a strategic partnership to explore and potentially develop tailored SME financing solutions, subject to regulatory approvals. Today, SMEs represent 1.3 million bus...
Smart digital logistics engine Locad raises $9 million
Locad, a smart digital logistics engine empowering consumer brands with its Cloud Supply Chain-As-a-Service for global distribution, announces its $9 million Pre-Series B funding round co-led by Globa...
EdfaPay secures $5 million in Pre-Series A funding round
EdfaPay, Saudi Arabia’s leading fintech platform, has secured a $5 million Pre-Series A funding round led by OmanTel Innovation Labs. Aljabr MENA and Waad Investment also participated. This inve...
EY MENA M&A Insights report 522 deals valued at $71.0b
According to the EY MENA M&A Insights 9M 2024 report, the MENA region witnessed an increase in merger and acquisition (M&A) activity with a total of 522 deals amounting to US$71.0b. When compa...
Game District acquires gaming startup Gleam Games
In a major move for the global gaming industry, Southeast Asia-based gaming giant Game District has acquired a majority stake in Türkiye’s Gleam Games, a fast-growing mobile gaming startup most popula...
EFG Hermes launches $300mln Saudi Education Fund
EFG Hermes, an EFG Holding company and the leading Investment Bank in MENA, announced that its private equity arm has launched a USD 300mn Saudi Education Fund (“SEF”) to build an institutional world-...
AHOY to support 10,000 entrepreneurs and upskill 30,000 software developers in the region
AHOY, the first GCC-backed deep-tech company specializing in algorithmic developer tools, has launched its Startup Builder Initiative. The initiative aims to support 10,000 entrepreneurs and provide d...
Supply chain tech startup, Qara raises $2.6 million
Qara, a supply chain tech startup, announced the successful completion of its $2.6 million funding round, led by strategic investors. This funding will drive the company’s expansion into the Kingdom o...