Bahrain-headquartered CoinMENA has secured $9.5M in its first seed funding round, from top regional and international investors in the crypto and venture space, in a move to further dominate the MENA market. Investors in the round included BECO Capital, Kenetic, Arab Bank Switzerland, Bunat Ventures, Alameda Research, Rua Growth Fund and Girnas Capital alongside a number of select global angel investors.
Launched in early 2021 by Dina Saman, Talal Tabbaa, and Yazan Barghuthi, CoinMENA was built primarily to address a market gap that existed for easy and safe access to crypto investing. Today, as a fully regulated, onshore crypto exchange licensed by the Central Bank of Bahrain, CoinMENA has not only successfully bridged the gap but also become the go-to exchange, known for its prompt transactions, a wide variety of assets, excellent customer service, and easy-to-use mobile app. Recently, CoinMENA entered into an agreement with the Dubai World Trade Centre to build the next blockchain and crypto hub in the UAE.
Commenting on the investment, CoinMENA’s co-founders said, “With growing awareness about crypto assets and their transformative potential, appetite from both retail and institutional investors in the MENA region is growing at a rapid pace. Our strategic capital partnerships provide support for our vision to increase the adoption of crypto assets in the region in a regulated and seamless manner. We believe that this is a positive outlook for the crypto assets sector over the coming years both locally and globally.”
