Archive

Jahez’s $245M Qatari splash, Valu eyes Jordan roll-out

Jahez enters Qatar with $245M Snoonu deal, Egypt’s Valu secures go-ahead for Jordan entry, and Huspy lands $59 for Saudi expansion, plus this week’s MENA startup, VC, and tech news round-up.

Jamie Lane, +1

Jul 11, 2025

Fintech

Tarmeez Capital raises strategic round from stc’s Tali Ventures to scale sukuk fintech platform

The Saudi startup, which enables Sharia-compliant debt issuance at 7x traditional speeds, will use the funding to grow its platform and retail reach.

Jamie Lane

Jul 10, 2025

Fintech

LemFi launches remittance services in Egypt to tap $29.6B diaspora corridor

The London-based fintech, fresh off a $53M Series B, is expanding its low-cost money transfer platform into Egyptas it eyes deeper penetration across North Africa.

Jamie Lane

Jul 10, 2025

Jordan

Egypt’s Valu secures go-ahead for Jordan entry with BNPL offering

The Cairo-based fintech’s entry into Jordan marks its first move beyond Egypt, following a recent EGX listing and a strategic investment from Amazon.

Jamie Lane

Jul 10, 2025

Saudi Arabia

How Adam Neumann Is Turning Riyadh into His Second Act

$350 million from a16z, $300 million from 33 Saudi families, a full Saudi launch in 60 days, and 92% of “trial guests” now tenants. Is Flow just WeLive in a thobe, or the first real brand in the Kingdom’s untapped BtR market? We unpack what Flow is, why a16z doubled down, how Neumann went local overnight, and just how big Saudi’s premium-renting gap really is.

Jamie Lane

Jul 9, 2025

Saudi Arabia

Saudi's Jahez acquires 76.56% of Qatar’s Snoonu in $245 Million deal to expand GCC footprint

Saudi Arabia’s Jahez has signed a $245 million agreement to acquire a controlling stake in Snoonu, Qatar’s largest on-demand delivery startup, valuing the company at $320 million.

Jamie Lane

Jul 9, 2025

Startups

Dubai-based XPANCEO raises $250M Series A at $1.35B valuation to advance smart contact lenses

Founded in 2021 by Russian entrepreneur Roman Axelrod and Ukrainian physicist Valentin Volkov, Xpanceo is attempting to integrate extended reality (XR) directly into soft contact lenses.

Zoe O Dwyer

Jul 9, 2025

Healthtech

BioSapien extends Pre-Series A to over $8M as Globivest joins Global Ventures, Golden Gate in backing MediChipTM

The UAE and US-based healthtech startup is developing a 3D-printed, slow-release drug delivery platform for localised cancer treatment, with new capital supporting global expansion and senior hires across R&D, regulatory, and medical affairs.

Zoe O Dwyer

Jul 9, 2025

Startups

Nawy enters UAE with majority acquisition of SmartCrowd to expand MENA real estate investment platform

Fresh off a $52 million Series A, Egypt’s Nawy has acquired Dubai-based regulated fractional property investment platform SmartCrowd in a bid to build the region’s leading proptech ecosystem.

Jamie Lane

Jul 9, 2025

SaaS

Rekaz raises $5 million to build OS for MENA’s service economy

The Saudi startup, backed by COTU Ventures, Impact46, and Shorooq, aims to streamline bookings, payments, and client engagement for service-based SMEs across the region.

Jamie Lane

Jul 8, 2025

Startups

UAE proptech Huspy raises $59M Series B to double down on operations across the Middle East and expand in Europe

Founded in 2020 by Jad Antoun and Khalid Ashmawy, Huspy provides real estate agents and mortgage brokers with high commissions, powerful technology, and a unified infrastructure designed to serve buyers and sellers more efficiently.

Jamie Lane

Jul 8, 2025

Podcast

VC React Podcast (Episode #42)

This week on VC React, we unpack MENA’s fastest unicorn, tease out why logistics is having a fintech moment, and dissect the AI talent wars shaking up global research labs.

Jamie Lane

Jul 8, 2025

Weekly round-up

Saudi's new unicorn, Replit on Rogan

What led to Ninja's Ebrahim Al-Jassim’s exit from HungerStation, Dubai lures SpaceX challenger, Iraq’s next-gen digital bank emerges from stealth, plus this week’s MENA startup, VC, and tech news round-up.

Jamie Lane, +1

Jul 4, 2025

Food Delivery

What led to Ebrahim Al-Jassim’s exit from HungerStation in 2019

A detailed look at HungerStation’s 2019 leadership transition, the legal dispute between Delivery Hero and Ebrahim Al-Jassim, and the rise of Ninja as one of Saudi Arabia’s first q-commerce unicorns.

Jamie Lane

Jul 3, 2025

News

Aspire Space relocates to UAE, partners with LEAP 71 to build reusable orbital launch system

The Luxembourg-based company will relocate to Dubai and partner with LEAP 71 to develop a large, reusable launch vehicle and orbital spacecraft, with hot-fire testing set to begin in 2026.

Jamie Lane

Jul 3, 2025

Fintech

EQIQ anchors $15 million seed for InstaBank, Iraq’s next-gen digital bank

Launched in 2025 by Iraqi-American banker Hussain Qaragholi, InstaBank aims to deliver scalable, AI-powered financial services to Iraq’s underserved population.

Jamie Lane

Jul 2, 2025

Startups

Ninja becomes Saudi Arabia’s latest tech unicorn with $250M raise ahead of 2027 IPO

Founded by HungerStation’s Ebrahim Al-Jassim, the quick commerce startup is now valued at $1.5B after a round led by Riyad Capital, joining Foodics, Tamara, and Tabby among the Kingdom’s top valued tech companies.

Jamie Lane

Jul 1, 2025

Startups

PetroApp raises $50M to expand digital fuel platform, targets 2028 IPO

The $50M round, including $45M from Jadwa Investment and participation from Bunat Ventures, will support PetroApp’s expansion into retail services, growth across regional markets, and path to an IPO by 2028.

Jamie Lane

Jun 30, 2025

Podcast

VC React Podcast (Episode #41)

This week on VC React, we unpack Valu’s market debut in Cairo, dig into why Careem is pulling the plug on its ride-hailing business in Pakistan, break down AppliedAI’s $55M Series A, and debate whether OpenAI’s new productivity push spells the beginning of the end for SaaS as we know it.

Jamie Lane

Jun 30, 2025

Agritech

AgriCash raises seed funding to expand agri-fintech platform across Egypt and beyond

Founded by Dr. Diaa Youssef and Dr. Mostafa El-Sahli, the startup offers interest-free BNPL financing, crop insurance, and AI-powered tools to over 1,500 farmers.

Jamie Lane

Jun 29, 2025

Weekly round-up

Amazon finds Valu, Impact46 goes gaming

Valu surges 852% on EGX debut as Amazon joins the cap table, AppliedAI closes oversubscribed $55M Series A, Impact46 backs Spekter Games from $40M gaming fund, plus this week’s MENA startup, VC, and tech news round-up.

Jamie Lane, +1

Jun 27, 2025