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Wamda Capital News

qeen.ai closes $2.2 million pre-Seed led by Wamda Capital

UAE-based AI startup qeen.ai announced today that it has successfully secured a $2.2 million pre-Seed funding round to drive its mission to transform the global e-commerce landscape, starting in the MENA region. The round is led by Wamda Capital, with participation from international and regional investors, including 10x Founders, Aditum and Dara Holdings, along with […]

June 6, 2024
RemotePass secures $5.5mln in Series A funding

RemotePass, an HR & Fintech platform that helps companies onboard, manage, pay, and retain remote workers, has secured $5.5 million in Series A funding. The oversubscribed round was led by 212 VC with participation from investors in the US, Europe, and the Middle East, including Endeavor Catalyst, Khwarizmi Ventures, Oraseya Capital, Flyer One Ventures, Access […]

March 5, 2024
Salla raises $130 million pre-IPO investment

Investcorp, a leading global alternative investment firm, today announced it has led a $130 million pre-IPO investment round in Salla, a leading SaaS e-commerce enablement platform in Saudi Arabia. The investment was made alongside Sanabil Investment, a wholly owned company by Saudi Arabia’s Public Investment Fund. STV, a regional venture capital investor and an existing […]

March 4, 2024
Clara updates Mena Series A Term Sheet template

Clara, several prominent venture capital firms, including Wamda Capital, and law firms launched the MENA Series A Term Sheet in December 2020 to provide a high-quality template to support equity funding rounds for the Middle East and North Africa (MENA) startup ecosystem. We proudly announce that the document has been updated to reflect the latest […]

February 6, 2024
Insider maintains leadership position

Insider, a global platform for building individualised, cross-channel customer experiences, is proud to announce its outstanding achievements in the latest industry reports by renowned organisations Gartner, Forrester, G2, and IDC.

November 10, 2023
HALA brings on former Revolut CTO Saleem Arshad to drive ambitious global vision

Saudi Arabia’s burgeoning fintech powerhouse is signaling its unwavering commitment to revolutionize its field’s landscape. Its latest activity on this trajectory is appointing Saleem Arshad as its Chief Technology Officer (CTO). Saleem, who brings over two decades of technology and innovation experience, will be pivotal in driving HALA’s global expansion efforts, focusing on the UK […]

October 26, 2023
Tarjama launches CleverSo 3.0 – the first TMS with an Arabic UI and powered by Arabic AI

Tarjama, the pioneering language service provider in the Mena region, unveils CleverSo 3.0, its proprietary Translation Management System (TMS) packaged with new capabilities to power translation teams for AI-enabled translations. Its smooth and intuitive user interface now comes localized into Arabic, converting CleverSo into the first TMS with an Arabic UI. CleverSo 3.0 leverages the […]

October 17, 2023
Writer nets $100M for its enterprise-focused generative AI platform

Writer today announced they have raised $100 million in a Series B funding round, bringing Writer’s total raised to $126 million and valuing the company at between $500 million and $750 million post-money.

September 18, 2023
Clara’s new Cap Table feature set to further support founders, investors and lawyers

Clara, the legal operating system that provides digital tools to help founders form, manage and scale their startups, has launched a new cap table feature to address the pain points experienced by founders, investors and lawyers in trying to manage startup equity.

September 11, 2023
Seez launches GPT-powered chatbot to enhance automotive industry

Seez, a data-focused automotive technology startup, has launched ‘Seezar’ a revolutionary GPT-powered chatbot tailored for car dealerships across Europe and the Middle East. This innovative AI-driven solution marks a significant step forward in transforming the automotive industry’s customer interactions and operations. 

August 30, 2023
Tabby launches the region’s first digital shopping assistant, Tabby Shop

Tabby, Mena’s leading shopping and financial services app, has announced the arrival of Tabby Shop, its new all-encompassing shopping tool, marking the most significant change on the Tabby app since its launch. The new app is a one-stop-shop showcasing over 500,000 products from thousands of brands in the fashion, beauty, home and electronics categories. Tabby […]

August 29, 2023
Moove takes in $76M equity, debt from Mubadala and BlackRock at a $550M valuation

Moove, an African mobility fintech that provides vehicle financing to drivers of ride-hailing platforms like Uber and other gig networks, has raised $76 million in new funding. 

August 10, 2023
Tamatem partners with Al-Hussein Technical University to launch “Game Space”

Tamatem for mobile games, in cooperation with Al-Hussein Technical University, opened Thursday an innovative space for students under the Tamatem Academy project, dubbed the “Game Space” at the university.

August 8, 2023
Alma Health closes Series A round at $10 million

UAE-based healthtech startup Alma Health has raised a $10 million Series A funding round co-led by Knuru Capital and Hambro Perks Oryx Fund, with participation from e& capital, S3 Ventures, Pinnacle Capital, and Khwarizmi Ventures.

July 11, 2023
YallaHub to launch in Saudi Arabia and Qatar

Dubai-based marketplace aggregator and digital distributor, YallaHub, is entering Saudi Arabia and Qatar with a revolutionary e-commerce solution for small, medium, and enterprise brands in Q2 2023. It helps entrepreneurs to develop and scale their businesses in the Middle East and North Africa markets through YallaHub’s ready-made infrastructure and technologies.

June 6, 2023
Floranow acquires Saudi Arabia’s Bloomax

UAE-based B2B floral marketplace Floranow has fully acquired KSA’s wholesale distributor of fresh-cut flowers Bloomax, with the transaction funded by a combination of debt and equity.

June 5, 2023
More Big Money For AI: Insider Raises $105M

More Big Money For AI: Insider Raises $105MIf AI does not lead venture out of its current slowdown, perhaps nothing will.

May 24, 2023
Insider voted top leader in G2’s Spring’23 Reports

Insider has been voted the #1 Leader in G2’s Spring’23 reports for the sixth year in a row, achieving an overall score of 4.7 out of 5 and the highest user satisfaction score of 98. Insider topped the charts in numerous Grid Reports and Index Reports across all 7 categories: Customer Data Platforms (CDP), Personalisation Software, Mobile Marketing, Personalisation […]

May 11, 2023
Belgium’s Deliverect acquires UAE’s ChatFood

Belgium-based food delivery software provider Deliverect has acquired UAE-based foodtech ChatFood. The acquisition will enable Deliverect to extend and support social media, dine-in QR and direct channel ordering, as well as enhance its offerings and its precedence in the Middle East.

May 10, 2023
BitOasis becomes the first broker-dealer to secure MVP operational licence from Dubai’s VARA

BitOasis, Mena’s leading regional cryptocurrency trading platform has secured an MVP Operational Licence from Dubai’s Virtual Asset Regulatory Authority, completing the final step in the MVP process, and allowing for the company to provide VA broker-dealer services to qualified retail and institutional investors from its Dubai HQ under VARA’s regulatory regime.

May 1, 2023
Dukkantek and Lezzoo Team Up to Redefine the Future of Iraq’s MSMEs

Dukkantek, a leading cloud-based POS and retail management software in the MENA region has announced a strategic partnership with Lezzoo, a Y Combinator-backed Superapp based in Iraq. This collaboration aims to transform Iraq’s food and beverage (F&B) supply chain by creating an end-to-end digital ecosystem for small-to-large retailers, enabling them to scale their operations and operate […]

April 13, 2023
RemotePass launches physical debit card for remote teams

Remote Pass, a leading platform for remote work, has launched its physical debit card for remote teams in emerging markets. With this new service, remote workers with an active contract on RemotePass can receive instant payments with zero fees, avoiding the hefty SWIFT fees and delays typically associated with international transfers.

April 4, 2023
ZIWO expands to Egypt

ZIWO, the favourite software of call centre agents in the GCC, announced the opening of its new branch in Cairo. After doubling its revenues last year this is another major step in ZIWO’s hyper growth in the Mena region to provide cloud contact centre solutions for companies and enhance their customer experience. 

March 16, 2023
Saudi-Based Startup palm.hr Raises $5M In Pre-Series A Funding Round

Saudi-based human resource (HR) solutions platform palm.hr has raised $5 million in a Pre-Series A funding round co-led by Speedinvest and RAED Ventures with the participation of MENA-focused venture capital firm Wamda Capital.

February 8, 2023
Dubai-based accounting and financial compliance startup, Wafeq, raises $3M

In 2016, the Gulf Cooperation Council (GCC) member states signed a value added tax (VAT) agreement paving the way for the introduction of the general levy on consumption across the region.

January 25, 2023
Diligend Rebrands as Dasseti, Announces Series A Financing Led By Nasdaq Ventures

Diligend, the award-winning digital due diligence software company, today announced the rebrand of its company, now to be known as Dasseti. The rebrand comes alongside the successful close of its Series A Financing led by Nasdaq Ventures.

January 24, 2023
Tabby raises $58M at $660M valuation as PayPal Ventures makes first investment in the GCC

PayPal Ventures, the global corporate venture arm of PayPal, is one of the participating investors (this marks its first investment in the Gulf Cooperation Council (GCC) but second in the MENA region after Egyptian fintech Paymob).

January 18, 2023