Author: Mahdeehassan
Dubai, UAE –– CNTXT and Oracle continue to advance their strategic collaboration, reinforcing their shared vision for AI innovation and enterprise transformation. Their collaboration, which was highlighted during Oracle Cloud World Tour, is focused on helping businesses and government entities accelerate AI adoption with secure, scalable solutions. During Oracle Cloud World, Mohammad Abu Sheikh, Founder and CEO of CNTXT, and Cherian Varghese, Senior Vice President of Cloud Infrastructure, AI for EMEA at Oracle, engaged in an in-depth discussion on AI readiness, data security, and the evolving AI landscape. Their conversation underscored the growing role of AI in enterprise operations and…
Tunisian fintech startup EasyBank has announced securing an investment of 1.2 million Tunisian dinars ($370,000). This investment will support the company’s plans for global expansion, including the Middle East, North Africa, and France. EasyBank states that its mission is to make financial services accessible to everyone by simplifying banking products through innovative and comprehensive digital solutions that facilitate access to loans and various banking services. By leveraging advanced artificial intelligence, the company provides personalised advisory services and streamlines processes based on eligibility criteria and access to loans. Founded in 2023 by a group of entrepreneurs and fintech experts, EasyBank is…
Flowwow, a UAE-based gifting marketplace, and Admitad, a partner marketing platform, have released their joint 2024 report on the e-commerce and gifting markets in the Middle East. The market, valued at $1.8 billion, saw significant online orders growth in 2024, with 7% increases in the United Arab Emirates and 9% in Saudi Arabia, solidifying their positions as the region’s industry leaders. The analysis of over 6.8 million online orders across MENA (including Turkey and Pakistan) in 2024 reveals Saudi Arabia, the UAE, and Kuwait as top contributors by gross merchandise value (GMV) of online sales. The strong performance of Saudi Arabia…
Saudi Arabia’s MSME finance ecosystem at the heart of economic diversification and financial inclusion efforts Saudi Arabia, February 2025: The pivotal role of Saudi Arabia’s finance ecosystem for micro, small, and medium-sized enterprises (MSMEs) in advancing the Kingdom’s economic diversification and financial inclusion objectives is explored in a new report released by Oxford Business Group (OBG), in collaboration with the Kafalah programme. Titled, “MSME Empowerment in Saudi Arabia,” the report examines the country’s strategic efforts to drive the growth of MSMEs by improving access to finance and fostering entrepreneurship. It highlights how the Kingdom is leveraging tailored financial solutions to…
Abu Dhabi, February 4, 2025 – Smpl Fund I, a $10 million venture capital fund launched by Smpl Holdings, has announced a strategic investment of $250,000 in multiple AI and technology companies within the Qora71 portfolio. Smpl Fund I, which focuses on supporting AI and tech startups across the MENA region and beyond, provides seed capital alongside hands-on strategic support to accelerate the growth of innovative companies. Qora71, a venture investor syndicate and a member of the Hub71 Angel Program, offers accredited investors the opportunity to invest on a deal-by-deal basis, without minimum commitments or fees. The syndicate’s portfolio includes…
Zension Technologies has raised a Series A round of $30 million led by Wa’ed Ventures, the $500 million VC arm wholly owned by Saudi Aramco, with participation from Japanese Sumitomo Corporation and Dubai-based Global Ventures to disrupt the traditional model of ownership of personal tech devices. This marks the first strategic investment that the 100-year-old Japanese global group, Sumitomo Corporation, has made in the GCC. Headquartered in Riyadh, Zension is the leading provider of protection, extended warranty and guaranteed buy-back services for mobile devices and consumer electronics plugged into major retailers, telcos and OEMs serving Saudi and UAE markets. With…
Riyadh, Saudi Arabia – January 2025 – CarbonSifr, a pioneering climate-tech company and a participant in the inaugural Sedrah Program under MEWA (Ministry of Environment ,Water and Agriculture) and Careem Rides, focused on facilitating everyday reliable and convenient commuting options for the region through the Careem app, are announcing the launch of Careem’s Eco-friendly ride option in Saudi Arabia with support from the Transport General Authority (TGA) and MEWA’s Sedrah Program. Eco-friendly rides, launched in collaboration with the TGA and MEWA’s Sedrah Program, will first be available in Riyadh. Customers who choose the Eco-friendly option will enjoy the same reliable…
Under the patronage of His Royal Highness Prince Salman bin Sultan bin Abdulaziz, Governor of Al Madinah Region, the “Al Madinah Ventures” programme was officially launched today, marking a bold step toward positioning Al Madinah as a global hub for entrepreneurship, innovation, and investment. The programme aims to establish a $10 million investment fund by 2025 to support startups, attract over 30 investors annually, and launch five new companies each year. This initiative is designed to drive job creation, stimulate innovation, and strengthen Al Madinah’s economic growth. Led by Value Makers Studio in collaboration with the Economic Development Centre and…
Wafeq, a modern and easy-to-use accounting platform, today announced the completion of its $7.5 million Series A funding round (SAR 28 million). This investment brings together globally renowned accounting software investors and executives, including 9900 Capital’s Managing Partner Chris Corbishley, who led the round and previously invested in Pennylane, France’s unicorn accounting platform, and Payhawk, another European unicorn in the financial planning and spending management space. Individual investor Gary Turner, who established and led the Europe, Middle East & Africa operations of Xero, one of the largest accounting software companies in the world, also participated. Existing investors Raed Ventures and…
Tajarib announced this week the acquisition of Eduba, the edtech startup, by a major telecommunications conglomerate for an undisclosed seven-figure amount. The announcement took place in a Tajarib episode broadcasted on the Iraq 24 TV channel and Tajarib’s various platforms on social media. Eduba, founded in Baghdad in 2019 by Azad Hassan, Haider Shaaban, and Raed Kadhem, initially launched as a school management app; it gained significant adoption by private schools and was one of the few to receive accreditation from the Ministry of Education, indicating the startup’s strong performance. Hassan and his team had started planning a major transformation…