Archive
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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ADGM Introduces Changes to VC Managers Framework
The Abu Dhabi Global Market (ADGM) recently held a webinar on the “New ways of VC Financing in ADGM.” The webinar discussed the VC landscape in terms of ADGM’s VC Managers Framework and perspectives from investors. Dr. Bhaskar Dasgupta, Associate
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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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5 Trends Driving Open Banking in the Middle East 2021
Open banking in the Middle East has become one of the latest buzzwords to come out of the region’s accelerated fintech agenda. Many countries in the region already had a sturdy traditional banking ecosystem. Now, with a growing incentive to
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4 Payment and Security Trends in the UAE
In the United Arab Emirates (UAE), the COVID-19 pandemic has been a catalyst of change in the payment industry landscape, a new reality that’s here to stay, recent research shows. Over the past two years, the total value of digital
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Middle East Fintech Weekly Digest: Cashless Payments Surge in Bahrain
Last week in Middle East fintech news, the DIFC announced that it had reached its 2024 target of tripling in size three years ahead of schedule (Fintech News). The 10-year long ‘2024 Strategy,’ announced in 2014, was aimed at placing
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Egypt’s Kashat Raises US$1.75m for Micro Lending App
Kashat, an Egyptian micro loan solutions provider, has raised US$1.75 million in a new bridge funding round, Magnitt reported. The round was led by pan-African VC fund Launch Africa Ventures, and had “key” regional investors participate, the report said. This
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