Waleed A. Alballaa

Shorooq Partners announces the first close of our $100 million second private credit fund, Nahda Fund II, marking a significant milestone in their mission to foster innovation and growth within the #MENA tech ecosystem. Building on the success of their first fund, which established new benchmarks as the region's inaugural tech-focused private credit fund, Shorooq Partners are reaffirming their dedication to driving economic development and supporting groundbreaking advancements across the Middle East and North Africa. With Nahda Fund II, they aim to continue empowering visionary entrepreneurs and catalyzing transformative projects that will shape the future of the region’s tech landscape. Read more: https://lnkd.in/dSvD8ZYh Shorooq Partners, Shane Shin (شين شن) 유근, Nathan Yonghyun Kwon #ShorooqPartners #PrivateCreditFund #MENA #TechEcosystem #Innovation #Entrepreneurship #ShorooqPartners #tech #investments #Entrepreneurship #venturecapital #venturedebt #privatecredit #privateequity #ksa #uae #riyadh #abudhabi #dubai #founders #startups #wearehiring #jobs #spotlight #shorooq #alternativeinvestments #fundmanager #FintechnewUAE

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💡 Improve bank profitability with AI-driven loan portfolio management.​ With Ai966, Saudi banks and finance companies improve non-performing loan portfolios by 30-40%. Predict potential defaults and optimize loan approval processes. Pay only for performance delivered. 🚀​ Request a workshop at [email protected].​ #AI #Fintech #LoanManagement #Banking #FinancialServices #Profitability #NonPerformingLoans #Ai966 #SaudiArabia #Vision2030

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In Tahseen Consulting's #MENA+ #techpolicy insight, you'll read about the #UAE approving the #Nebras #OpenFinance / #eKYC platform, #SaudiArabia’s Public Investment Fund (PIF) acquiring a 15% stake in Heathrow Airport, Vingroup JSC and #Egypt's #PrimeGroup investing $1.2B in Indonesian #EV charging, #Pakistan only attracting $37M YTD in #VC, bp’s former CEO joining the board of ADNOC Group's new energy group #XRG, #Bahrain implementing the 1st phase of its #epayments regulation, Keppel Ltd. and Sovico Group discussing a #undersea cable between #Singapore and Vietnam, #Indonesia’s #3PL players calling for #antitrust action against #ecommerce fleets, and Samsung Electronics accusing #CCI of unlawful #data seizures, detention of staff in #India. 🇦🇪 #UAE ADGM opens #virtualasset regulation consultation 🇸🇦 #KSA ADNH Catering expands, ▲ JV stake to 50% 🇪🇬 #EGYPT invests $3B in #digitalinfrastructure since 2018, plans #5G rollout 🇵🇰 #PAKISTAN proposes National Cybercrime Forensics Agency 🇴🇲 #OMAN Hydrom, thyssenkrupp localize #electrolyzer manufacturing 🌍 #GCC Satellite internet to boost connectivity, incumbent partnerships 🇻🇳 #VIETNAM #Electric taxi operator GSM | XanhSM Co.,LTD launches in #Jakarta 🇮🇩 #INDONESIA Indosat Ooredoo Hutchison Digital Camp taps NVIDIA #AI to personalize services 🇮🇳 #INDIA #DoT introduces new telecom #KYC guidelines

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The Saudi startup “Vreal” has secured a Pre-Seed investment round from “Grow Community” for angel investing, marking a strategic step aimed at enhancing its ability to develop innovative technological solutions in the e-commerce sector. https://lnkd.in/dXa9Y6DY VREAL Company | numu Angels Investment Community | مجتمع نمو للاستثمار الملائكي #Vreal #Saudistartups #investments #innovation #vc #Ecommerce #numuAngelsInvestmentCommunity

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🇮🇳 In Action ➔ Here's the top 10 #IndianTech developments Tahseen Consulting is following today 🤖 Companies get second chances for #IPOs amid buoyant markets 📈 #Startup fundraising rises 59% YoY in October ⚖️ Swiggy gets over $15B bids for #IPO anchor book; oversubscribed 25x 📱 #Starlink, Amazon asked for security compliance to provide #satellite services 💰 #Payments firms scrap user incentives due to funding crunch 🏢 Govt eases power usage effectiveness requirements in #AI #GPU tender after pushback    🤝 #TamilNadu sees surge in manufacturing investments 📡 Bharti Telecom Limited to raise $1.3B bond issuance 🌐 #Gaming industry ups game with homemade 'AAA' products 🏦 Meesho posts 33% increase in revenue, achieving positive cash flow 👋 With the #India and #MENA tech ecosystems converging, you can follow Tahseen Consulting and click below to get our extended coverage of the top tech developments you need to know about to start your day. https://lnkd.in/gBXBCZsN

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this is the way you plan to be competitive in the next 10 years

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#SaudiArabia's capital, #Riyadh, has emerged as a leading startup ecosystem in the Middle East and North Africa (MENA) region, ranking fourth according to Startup Genome's Global Startup Ecosystem report. Alongside #Riyadh, #Jeddah and #Alkhobar were also recognized for their dynamic startup environments. #Riyadh notably made the global list of cities with four or more unicorns in the last decade, sharing this distinction with #Dubai. The Kingdom's proactive stance on artificial intelligence, evidenced by a $40 billion investment, further underscores its tech ambitions. In 2023, Saudi Arabia secured 52 percent of #MENA's total venture capital funding, leading regional venture funding activities with $1.38 billion, as highlighted by MAGNiTT. Read more: https://lnkd.in/dHc9-3db Startup Genome, Global Entrepreneurship Network, MAGNiTT #StartupEcosystem #Riyadh #Dubai #MENA #Top5 #Startup #Investment #Funding #VentureCapital #AI #Alkhobar #KSA #MiddleEast #NorthAfrica #GlobalStartup #CapitalInvestment #Founder #Innovation #Tech #Fintech #SaudiArabia #FintechnewsSaudiArabia #SaudiArabiaFintechnews #KSAFintechnews Post Credit: Arab News

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The transformational journey of #PIF is nothing short of remarkable. From its roots in 1971 to becoming a global economic powerhouse under Vision 2030, PIF's strategic #investments are not only reshaping Saudi Arabia's economy but also setting new standards for #sovereign #wealth #funds worldwide. The commitment to sustainability, diversification, and innovation is truly inspiring. PIF's continued growth and impact will undoubtedly play a pivotal role in realizing the ambitious goals of Vision 2030 and beyond. Excited to follow this incredible journey, and more journey of PIF under the visionary leadership of ##Crown Prince #Mohammed #bin #Salman is truly exceptional. By strategically utilizing PIF, #MBS has not only positioned the fund but also Saudi Arabia at the #forefront of global economic #powerhouses. His foresight and ambition have turned PIF into a driving force behind Saudi Arabia's economic diversification, sustainability, and innovation, propelling the Kingdom to the top of the #world #stage. Excited to witness how this #visionary #leadership continues to shape the future. Its lovely posting Mohammed AlQahtani Wael Bin Suhaim #MONEYtalks #vision2030 #PublicInvestmentFund #SaudiEconomy #SustainableDevelopment #MegaProjects #EconomicGrowth #Innovation #GreenfieldInvestments

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EdfaPay raises $5 million in a Pre-Series A funding round led by Omantel Innovation Labs to strengthen its presence in the Saudi market and expand across the MENA region and Pakistan. Learn more through the press release below. #EdfaPay #Fintech #Innovation

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Riyadh-headquartered fintech SiFi has raised $10 million in a seed round led by Public Investment Fund’s Sanabil Investments, and Raed Ventures, it announced in a statement today. The round was also joined by ANB seed (a seed fund by ANB Capital, the investment arm of Arab National Bank), Saudi’s Rua Ventures, Dubai-based Byld Ventures, and Khalid bin Alwaleed’s KBW Ventures. It also includes participation from existing investors; Saudi-based Khwarizmi Ventures, Seedra Ventures, and Tech Invest Com. Founded in 2021 by Ahmed Alhakbani who was previously Governor of Saudi Customs, and Saudi’s Deputy Minister for Foreign Trade, SiFi (or Simplified Financial Solutions Company) is a spend management platform that enables businesses to automate their expense processes, with its corporate cards for employees. Read more: https://lnkd.in/dPhcp9eB Ahmed AlHakbani, Omar A. Almajdouie

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𝐒𝐚𝐮𝐝𝐢 𝐀𝐫𝐚𝐛𝐢𝐚: 𝐁𝐮𝐢𝐥𝐝𝐢𝐧𝐠 𝐚 𝐓𝐡𝐫𝐢𝐯𝐢𝐧𝐠 𝐎𝐩𝐞𝐧 𝐁𝐚𝐧𝐤𝐢𝐧𝐠 𝐄𝐜𝐨𝐬𝐲𝐬𝐭𝐞𝐦 🌐 As Saudi Arabia surges ahead with its Vision 2030, the Kingdom's Open Banking landscape is rapidly emerging as a beacon of innovation and transformation in the region. 🗝️ A key driver? The proactive regulatory framework led by the Saudi Central Bank – SAMA, which has laid the foundation for a dynamic ecosystem where banks, fintechs, and infrastructure providers are collaborating to redefine financial services. 📜 From the introduction of Account Information Services (AIS) in 2022 to the recent September 2024 licences for Payment Initiation Services (PIS), SAMA’s structured approach has empowered seamless, secure data sharing and transaction flows, sparking a wave of innovation. This roadmap has been pivotal in fostering compliance, while allowing fintechs to push the envelope on open finance. At the same time, leading banks are partnering with fintechs to meet growing demand for Open Banking-powered solutions. Case in point: Tarabut's alliances with 4 key banks in the region, including Alinma Bank and Riyad Bank. Product launches are also driving market growth, with innovations like Spire Tech’s AI-powered ‘Spire Ingage’—highlighting the explosion of personalised financial services and real-time data aggregation tools that are transforming customer experiences. ⚙️ Meanwhile, infrastructure providers like Lean Technologies and Tarabut are at the core of this transformation. Their cutting-edge APIs are enabling Open Banking’s secure data exchange and fostering innovative product launches across personal finance management, lending, and more. _____________ 🌍 This is just a glimpse into the dynamic world of Saudi Arabia's Open Banking landscape. Discover more about the latest regulatory developments, in-depth case studies of successful fintech partnerships, and emerging trends in our comprehensive blog post here 👉: https://lnkd.in/g9AX2_rH #fintech #openbanking #openfinance #payments #SaudiArabia

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A report by MAGNiTT, a venture investment data platform for startups, sponsored by SVC, highlighted Saudi Arabia's leadership in the venture investment ecosystem in the Middle East and North Africa (MENA) region. 🥇🇸🇦 Saudi Arabia ranked highest in terms of investment value, securing $412 million (1.5 billion SAR), followed by the United Arab Emirates and then Egypt in third place.    The report confirmed an increase in Saudi Arabia's contribution to the total value of venture investments in the MENA region, from 38% in the first half of 2023 to 54% in the first half of 2024. Saudi Arabian deals accounted for 30% of the total deals in the MENA region, up from 25% during the same period last year.    Regarding leading sectors, the report indicated that the #fintech sector topped the number of deals, accounting for 14% of deals in 2024. Meanwhile, the #ecommerce sector dominated in terms of venture investment value, capturing 52% of the total venture investments with $215 million (806 million SAR).    This significant capital influx indicates growing confidence in the entrepreneurial ecosystem in Saudi Arabia, driven by numerous government initiatives that stimulate venture investment and startups under the Saudi Vision 2030, as well as continuous development of the legislative and regulatory environment for this ecosystem.    In your opinion, how can this rapid growth in venture investment impact the future of startups in Saudi Arabia and the region? Which sectors do you believe will experience greater growth? Share your thoughts with us ✍️   #Equivator #EquivatorNews 

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💡 In my recent interview on Asharq BusinessWeek on Bloomberg Alsharq hosted by Nadia Bsat, we discussed several important topics regarding AI infrastructure in the region and its economic impact. Here are the key points I shared: 1️⃣ Infrastructure required for AI development: Saudi Arabia and the UAE are investing in advanced data centers, data management policies, and high-speed networks. For example, SDAIA is setting policies to ensure AI development aligns with ethical and Islamic values. SDAIA | سدايا 2️⃣ Guarantees required to ease U.S. restrictions on chip exports: Both countries need to provide guarantees around the safe use of chips and cooperate with U.S. companies to ensure that advanced technology doesn't fall into unwanted hands. 3️⃣ Impact on relations with China: Despite the UAE being a BRICS member, it has maintained a balanced relationship with both China and the U.S., fostering bilateral relations without compromising economic interests. 4️⃣ AI's contribution to economic transformation: Saudi Arabia aims for AI to contribute 12.5% to its GDP by 2030, while the UAE targets 14% by 2031. Both countries are heavily investing in digital infrastructure to boost efficiency and productivity. 5️⃣ Opportunities for tech companies in Gulf markets: The UAE and Saudi Arabia represent new and crucial markets for companies like Nvidia to offset losses caused by U.S. restrictions on China. The Gulf market is expected to compensate for part of the lost market share. 🌍 The digital transformation in our region is steadily moving towards enhancing innovation and economic diversification. I look forward to hearing your thoughts on these developments and having a shared conversation about the future of AI in our region! 🤖🚀 Asharq Business اقتصاد الشرق

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