Archive
Saudi Open Banking Startup Spare Closes $3 Million Funding Round
Spare, a Saudi based open banking services provider, announced the close of a $3 million funding round led by Vision Ventures with participation from Wa’ed Ventures, Seedra Ventures, global investment firm 500 Global, and notable angel investors. Spare was established
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Saudi Wealthtech Hakbah Closes US$5.1 Million Series A
Hakbah, a Saudi-based fintech savings platform, announces its successful $5.1 million Series A fundraise. The funding round was led by VentureSouq – the MENA-based venture capital firm with a global portfolio. Also participating were new investors M-Capital and Bunat Ventures;
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Saudi Central Bank Issues Rules for BNPL Companies
The Saudi Central Bank (SAMA) announces the issuance of the “Rules for Regulating Buy Now Pay Later (BNPL) Companies,” as part of its role in supervising and controlling the BNPL companies. This decision reflects SAMA’s continuous efforts to develop the
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ADQ and Azerbaijan Sovereign Wealth Fund Form Joint Investment Platform
ADQ, an Abu Dhabi-based investment and holding company, and Azerbaijan Investment Holding (AIH), a strategic sovereign wealth fund located in Baku, have announced the formation of a joint venture with the aim of investing in sectors of mutual priority and
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Careem Pay Taps Payments Firm iPiD to Expand Remittance Options to India
Dubai-based ride-hailing service company Careem has announced a collaboration with cross border payments firm iPiD to enhance the international remittance capabilities of its payment platform Careem Pay. This partnership is particularly focused on improving services in India, according to a
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Saudi’s Tamara Is Now a Fintech Unicorn
Tamara, a leading fintech platform to shop, pay and bank in Saudi Arabia and the wider GCC region, has achieved the historic milestone of becoming the Kingdom’s first homegrown fintech unicorn by securing $340 million in a Series C equity
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Fundbot Raises $1.5 Million Seed and Targets UAE and Saudi
Fundbot, a Fintech startup that automates corporate lending and payments between banks, buyers, and sellers, announced today that it has raised a $1.5 million seed-funding round from MENA-based VC Hambro Perks Oryx Fund, with additional support from Aditum Investment Management
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Temenos Powers Lesha Bank’s Wealth Management Transformation
Lesha Bank, a Qatar-based investment bank, has upgraded its core banking system to the latest platform offered by banking software company Temenos. This move marks a major step in enhancing the bank’s wealth management and investment banking services. The bank,
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Dubai Insurance Invests in OneDegree for Digital Asset Insurance Partnership
Hong Kong’s insurtech OneDegree has secured an investment from the Dubai Insurance Company for its Series B funding round as part of a partnership to offer digital asset insurance in the United Arab Emirates (UAE). The sum was not disclosed.
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Abu Dhabi Finance Week 2023 Wraps Up with Record 18,000+ Participants
The Abu Dhabi Finance Week (ADFW) wrapped up its 2023 edition after having successfully hosted more than 18,000 attendees from the financial sector. The event was held under the patronage of His Highness Sheikh Khaled bin Mohamed bin Zayed Al
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