Egypt to roll out unified startup reporting system with support from World Bank and top VCs
Egypt’s MSMEDA, backed by the World Bank, has partnered with Visible.vc and leading VCs including Foundation Ventures, Algebra, Sawari, Shorooq, and Endure to launch a unified portfolio reporting system for startups.
Khwarizmi Ventures eyes $100M+ Fund II to back early-stage startups
Speaking to Alarabiya Business, Managing Partner Abdulaziz Al-Turki called it a “golden opportunity” for early-stage investing, pointing out that MENA went from zero unicorns a decade ago to eight today, and could reach 60 by 2035.
Expensya founders return with Thunder Code, raise $9M to automate software testing with AI
Founded by Karim Jouini and Jihed Othmani, the team behind Expensya, Thunder Code is their follow-up to one of Africa’s biggest tech exits. Expensya was acquired by Swedish procurement platform Medius in 2023 for a reported $120 million+.
Abu Dhabi-based eVoost raises Seed funding from Qora71 to scale its AI-native real estate sales platform globally
Founded in 2024 by Cristian G. Pastrana, eVoost replaces the traditional real estate sales funnel with AI-powered virtual agents that personalise buyer journeys through emotional profiling.
Egyptian founder Ozzie Osman’s Monarch raises $75M Series B to become the new leader in personal finance
Founded in 2018 by Osman, Val Agostino (formerly of Mint), and Jon Sutherland, Monarch was designed from day one as a subscription-based alternative to ad-supported personal finance tools.
Stitch raises $10M to build Saudi-born fintech infrastructure for emerging markets
Founded in 2022 by Mohamed Oueida, Stitch is a unified SaaS and API platform that enables financial and non-financial institutions to build and scale modern financial products, cutting implementation time by up to 80%.
UAE-based spend management platform Qashio secures $19.8M in funding
Founded in 2021 by Armin Moradi, Qashio provides customised corporate cards and embedded financial services tailored to the needs of high-compliance industries such as legal, consulting, government, travel, hospitality, retail, and high-volume e-commerce.