Posts From Fintechnews Middle East

Pakistan Digital Banking Startup Secures Record Seed Round

Pakistani digital banking startup Tag has secured over US$12 million in the largest seed funding round to have taken place in South Asia. With the fundraise, Tag’s valuation now stands at US$100 million, TechCrunch reported, with the company closing the

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Turkish Microlender Colendi Raises US$30M

Colendi, a Turkey-based micro lending and credit scoring fintech company, has picked up US$30 million in a Series A round of funding, according to local news reports. The Series A round was led by Re-Pie Asset Management Company, a Turkish

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Velmie Extends Its Banking Software with Cross-Border Transfers

Velmie, a fintech and banking software provider, has introduced an FX and cross-border transfers module connected to market-leading providers such as Currencycloud, Rapyd, Nium and others. Its white-label platform is now able to support cross-border payments and money transfers with

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Ecommerce and BNPL Spearhead MENA Payments Sector

The MENA payments sector is continuing its accelerated growth curve sparked last year. Driven by booming ecommerce adoption and a growing fintech ecosystem, the region is seeing tailwinds in paytech and cashless trends. According to Checkout.com’s 2021 report on ‘Digital

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MEA Fintech Weekly News: Melio’s Valuation Soars After US$250M Funding

In last week’s MEA fintech news, we saw US-Israeli fintech startup Melio raise a quarter billion dollars at a hefty valuation, while another US-Israeli fintech company Pagaya announced its SPAC listing. Elsewhere, Nigeria emerged the top funded fintech hub in

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Egypt-Focused dopay Raises US$18 Million Series A

Egypt-focused B2B2C payments platform dopay has secured US$18 million in a Series A funding round, the company announced in a statement last week. The company is based out of London and currently caters to its initial market Egypt. Force Over

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Fatoorah-Compliant Payments Platform CashIn Raises US$1.6M

Saudi Arabia-based digital payment and POS solutions startup CashIn has raised SAR 6 million, or US$1.6 million, in a seed funding round, the company said in a statement. The round was led by Investor Mine, according to the statement. Saudi

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US-Israeli Payments Platform Melio Raises US$250M Series D

New York-based Israeli B2B payments platform Melio has tripled its valuation to US$4 billion with its latest fundraise of US$250 million in a Series D, according to a statement. The round was co-led by Thrive Capital and existing backers of

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Top Fintech Sandboxes in the Middle East for Your Fintech Startup Expansion

Fintech sandboxes are a popular way for regulatory authorities in the Middle East to play their part in supporting fintech innovation. Sandboxes are testing environments where entrepreneurs and innovators can experiment with their solution in a controlled space. This allows

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US-Israeli AI Fintech Company Pagaya Announces US$8.5B SPAC

US-Israeli AI fintech company Pagaya is going public via a SPAC merger with EJF Acquisition Corp (EJFA), according to a statement. The combined company will be valued at around US$8.5 billion. The merger is expected to close in early 2022,

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