Inspiring Sustainable Business in Africa
MENA – Emonovo (previously MARJ3), an education technology platform in the MENA region, has secured an undisclosed bridge round from key angel investors in the US, Europe, and MENA, as well as a follow-up investment from Flat6Labs. Emonovo uses data and technology to connect young people in the region with the greatest majors and universities throughout the world. The participating…
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MENA – ArabyAds, an ad-tech company, has raised US$30 million in pre-Series B funding round from AfricInvest, to expand its footprint and further invest it to accelerate its technological advancement and talent acquisition to support the growth. AfricInvest is a leading pan-African investment platform managing multiple alternative asset classes including private equity, venture capital and private credit. The transaction marks…
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EGYPT – Qurious Labs, a Web3-focused venture studio, has raised funding from Openner as it bids to back bold entrepreneurs in the MENA region building Web3 companies that utilise blockchain, digital currencies, NFTs, and gaming to explore the Metaverse. Openner is a venture capital firm operating in Egypt, and according to it, is confident more VCs will realise the value…
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MENA – Seedstars Capital, an alternative investment platform focused in emerging and frontier markets, has announced US$20 million first closing of its second seed fund for emerging markets, Seedstars International Ventures II. Over the next three years, this vehicle intends to invest in a hundred companies in the pre-seed and seed stages across African, Asian, the Middle Eastern and North…
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MENA – Mastercard, a multinational financial services corporation, has announced the appointment of Adam Jones as the new Country General Manager of its MENA Central cluster. In his new role, Adam will lead Mastercard’s operations across cluster, taking responsibility for Saudi Arabia, Egypt, Jordan, Lebanon, Bahrain, and Iraq markets. Bolstering Mastercard’s MENA leadership team, Adam will work closely with Maria…
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MENA – Payments technology company Mastercard has partnered with Musafir to take travel bookings originating in the Middle East and North Africa, to new heights. The exclusive partnership will digitize end-to-end payment flows and launch new innovative payment products with attractive travel benefits to both consumers and corporates. According to an analysis by the Mastercard Economics Institute, if flight booking…
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MENA – Global supplier of carton packaging and filling equipment, Elopak, has acquired Naturepak, the leading gable top fresh liquid carton and packaging systems supplier in the MENA region. The move has earned the Norwegian packaging manufacturer additional production facilities in Morocco and Saudi Arabia, expanding its extensive global network, which already encompasses customers across 70 countries. It has also…
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MENA – Crescent Enterprises’ internal business incubation platform, CE-Creates has completed the merger of hatch & boost, an Abu Dhabi-based venture-builder in the first merger of its kind in the Middle East. The partnership, operating under the new name hatch & boost Ventures, will see the acceleration and growth of seven portfolio startups this year, spanning across agritech, sustainable mobility,…
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MENA – i2c Inc, a global provider of highly-configurable digital banking and payments solutions, has announced its partnership with Visa, as a fintech processor in the MENA region. The partnership will allow fintech in the region to access Visa’s global network as well as i2c’s agile issuing and processing platform by tapping into the combined companies’ suite of digital-first solutions…
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MENA – Egypt’s on-demand bus-hailing company Swvl has partnered with African fintech mobility startup Moove to scale Moove’s revenue-based vehicle financing model across the MENAP (Middle East, North Africa, and Pakistan) region. The partnership follows Moove’s recent US$105 million series A2 round and will also see the two expand vehicle classes to include electric buses. Starting with an initial rollout…
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