Author: Funding, Mergers & Acquisitions

In many emerging markets, the rise of a “super app” has become a defining milestone in digital transformation. From Southeast Asia to the Middle East, these platforms have fundamentally changed how people commute, order food, shop, pay bills, and access everyday services. Now, Syria is witnessing the emergence of its own digital champion. Labby, a Syria-based super app, has secured $10 million from a consortium of investors from the United Arab Emirates and Saudi Arabia, in what Syrian officials have described as the first direct foreign investment in a Syrian technology startup. Beyond the size of the investment, the transaction…

Qatar’s fintech ecosystem continues to gain momentum as SkipCash has secured a strategic investment from Qatar International Islamic Bank (QIIB), further strengthening the country’s homegrown digital payments sector. While the financial terms of the investment were not disclosed, the partnership signals growing confidence from one of Qatar’s leading Islamic banks in the future of locally built financial technology. Founded in 2019 by Mohammed Abdulaziz AlDelaimi, SkipCash has rapidly established itself as one of Qatar’s leading digital payment providers. The company offers businesses a comprehensive suite of payment solutions, including online payment gateways, merchant acquiring, QR payments, payment links, Tap-to-Phone (SoftPOS),…

Egyptian private equity firm Elevate Capital has completed the acquisition of 100% of Nile Scan & Labs, one of Egypt’s largest diagnostic healthcare providers, in a transaction valued at approximately EGP 1 billion (around US$20 million). The acquisition represents another milestone in the firm’s ambition to build one of the Middle East and Africa’s most integrated healthcare ecosystems. The transaction was completed through a consortium comprising Elevate Capital and members of the Moharram family, bringing nearly three decades of diagnostic expertise under a unified ownership structure. While financial details beyond the equity valuation were not disclosed, the acquisition positions the…

Saudi fintech Fina, the embedded finance platform of SILQ, has secured a US$75 million (SAR 282 million) Shariah-compliant financing facility from Fasanara Capital, a London-based global investment manager overseeing approximately US$6 billion in assets under management. The facility represents a significant milestone in Fina’s mission to reshape how small and medium-sized enterprises (SMEs) in Saudi Arabia access working capital by embedding financing directly into their everyday business operations. The financing comes at a time when Saudi Arabia is accelerating efforts under Vision 2030 to strengthen its SME sector, which is expected to become a key driver of economic diversification. Despite…

Saudi mobility platform SyarahApp (سيارة آب) has announced the signing of an acquisition agreement by a consortium comprising a group of fuel station operators that collectively own more than 1,790 petrol stations across Saudi Arabia. The transaction marks a significant step toward integrating digital mobility services with one of the Kingdom’s largest fuel retail networks. While the financial terms of the deal were not disclosed, the acquisition is expected to significantly expand SyarahApp’s operational footprint and accelerate the development of technology-driven solutions for the automotive and fuel management sectors. Expanding Digital Services Across Saudi Arabia The acquisition aims to transform…

Egyptian construction technology startup Kuadra has secured a funding round led by Edafa Venture Capital to accelerate the launch of what it describes as Egypt’s first unified AI-powered platform for managing the entire construction project lifecycle. The investment will support product development, commercial expansion, and the company’s ambition to modernize one of the country’s largest industries through artificial intelligence. Founded in 2025 by Ahmed Salem, Kuadra develops AI-powered workflow automation solutions that simplify complex construction processes. Its platform enables contractors to analyze tender documents, extract technical specifications, automate procurement workflows, allocate work packages to suppliers and subcontractors, and evaluate bids…

Egyptian healthtech startup Reme-D has raised $1.45 million in a Pre-Series A funding round led by Anara Impact Capital, with participation from the Global Innovation Fund (GIF), Africa Health Ventures, and other investors. The funding will help the company expand manufacturing, strengthen its regional presence, and accelerate the development of affordable molecular diagnostics for underserved healthcare markets across Africa. Founded in 2023 by Salma Tammam, Reme-D develops and manufactures molecular diagnostic tests for infectious diseases, including tuberculosis (TB), HIV, hepatitis, and human papillomavirus (HPV). The company’s focus on producing accurate, affordable, and temperature-resilient diagnostic solutions addresses one of Africa’s biggest…

Toronto-based Islamic fintech Manzil has launched self-directed halal stock trading in the United States, allowing Muslim investors to select and trade individual U.S. equities that have already been screened for Shariah compliance — all within a single app. Founded in 2017 by Dr. Mohamad Sawwaf, Manzil describes the product as the first halal self-directed trading app launched in North America — a first-in-North-America designation that is a company claim. The move expands Manzil’s American investment offering beyond the professionally managed portfolios it introduced in 2025 and signals a much larger ambition: building a global financial platform for the world’s nearly…

Saudi Arabia’s gaming ecosystem continues to gain momentum as FLOATY Studio has secured $1 million in a funding round led by Merak Capital through the Merak Gaming Fund (MGF). The investment will enable the Riyadh-based game developer to accelerate product development, expand production capabilities, and bring Saudi-created gaming intellectual property to players worldwide. Founded in 2023 by Fahad Qaysi, Zeyad Almalki, and Abdullah Salah, FLOATY Studio focuses on developing casual and hybrid-casual mobile games designed for international audiences. The studio is currently building two flagship titles: Pirasea, a pirate-themed strategy game, and Hero Squad, a sci-fi action game where players…

Saudi Arabia-based Think has raised more than $8 million in pre-seed funding, marking what the company describes as the largest AI infrastructure and deeptech pre-seed round in the MENA region to date. The round was co-led by RAED Ventures and Wa’ed Ventures, with participation from Dhahran Techno Valley’s Venture Capital arm and a group of strategic angel investors. The new capital will accelerate team expansion, manufacturing scale-up, product development, and commercial growth as Think expands across Saudi Arabia, the GCC, and selected international markets. The funding also reflects growing investor confidence that the next phase of artificial intelligence will be…