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Top 20 VCs and Funds Backing Saudi Arabia’s Tech Startups
Against all odds, venture capital (VC) investments in Saudi Arabia reached a new all-time high last year, growing by a staggering 72% year-on-year (YoY) to reach US$987 million in 2022, data from the 2022 Saudi Arabia Venture Capital Report show.
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Emirates Islamic Offers new Startup Accounts for UAE SME’s
Emirates Islamic has launched the new Emarati Absher Business Account designed exclusively to provide a comprehensive suite of premium banking solutions for Emarati startups in the UAE. The new business banking proposition aligns itself with the UAE’s strategy to support
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TWIG Raises Pre-seed Round, Secures DFSA License
TWIG Solutions (TWIG), a financial technology startup based out of Dubai International Financial Centre (DIFC), has received an Innovation Testing License (ITL) from the Dubai Financial Services Authority (DFSA). The ITL enables TWIG to test and develop their products and
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IFZA and Mashreq Announce Partnership
IFZA Dubai, an UAE international Free Zone, announces the signing of a memorandum of understanding (MoU) partnership with Mashreq, one of the leading financial institutions in the MENA region, to provide IFZA Free Zone Licensees and Professional Partners quick and
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RAKBANK Enables Digital Onboarding for In-App Credit Card Applications
The National Bank of Ras Al Khaimah (RAKBANK) has rolled out a new digital on-boarding solution that allows customers to apply for its credit card digitally. Any UAE resident over the age of 18 can apply for a credit card
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Standard Chartered to Launch Digital Asset Custody Services in the UAE
Standard Chartered signed a memorandum of understanding (MoU) with Dubai International Financial Centre (DIFC) to collaborate on digital assets, including digital asset custody. Subject to regulatory approval, Standard Chartered plans to launch digital asset custody services, starting in DIFC and
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Airwallex Launches in Israel, Appoints Ex-Googler to Lead Operations
Cross border payments firm Airwallex has officially launched its operations in Tel Aviv, Israel as the first step of its Middle East expansion plans and appointed Or Liban as its Head of Israel and the Middle East. The company already
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DBS Mulling Dubai Expansion to Scale up Middle East Presence, Says Piyush Gupta
DBS Bank’s CEO Piyush Gupta said that the financial firm is mulling expansion plans in Dubai, according to a Bloomberg report detailing his interview with Yousef Gamal El-Din at the Dubai Fintech Summit. He added that the bank is “revisiting the
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Egyptian VC Firm DisrupTech Ventures Bags US$5 Million Investment From Proparco
DisrupTech Ventures, an Egypt-based venture capital firm focused on fintech, has received a US$5 million investment from Proparco, a subsidiary of the Agence Française de Développement (AFD) devoted to private sector funding. The early-stage venture capital fund aims to provide
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e& Enterprise to Acquire Majority Stake in UAE Lending Startup Beehive
e& enterprise, part of e&, has signed a binding agreement to acquire a majority stake in Beehive, a peer-to-peer digital platform to tap into opportunities in the Small and Medium Enterprise (SME) lending market. Beehive, founded in 2014, leads the
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