Mohammed Alfraihi

If you ever needed assistance in growth of your startup here is your guide Grapes Venture is the solution

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In Saudi Arabia, we’re witnessing a surge in fintech startups, driven by a young, tech-savvy population and a supportive regulatory environment. The future of fintech in Saudi Arabia holds huge potential to be truly transformative. As part of #Vision2030, the country wants to establish at least 525 fintech companies and create 18,000 fintech job opportunities. Last year the number of people estimated to be working in the Kingdom’s fintech sector amounted to 5,400. One of the most significant developments in this space is the rise of Buy Now, Pay Later (BNPL) services. These fintech solutions are gaining popularity in Saudi Arabia, offering consumers more flexibility in managing their finances. #BNPL services are particularly appealing to younger generations who prefer cashless transactions and are looking for convenient, interest-free payment options. This shift in consumer behavior is pushing traditional financial institutions to adapt and innovate, ensuring they remain relevant in a market that is increasingly dynamic. Many start-ups are emerging in the sector offering solutions which enhance customer experience and also offer traditional banking solutions. It’s an exciting space to watch and be part of. https://lnkd.in/dVCAHhzt #Fintech #FinancialInnovation #SaudiArabia #DigitalEconomy #Vision2030

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Business challenges can be effectively addressed by exchanging experiences with entrepreneurs from across the Arab world. This collaboration brings diverse perspectives and innovative solutions that transcend individual markets. By sharing insights, entrepreneurs can adapt and excel collectively in a competitive global landscape.

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🇦🇪 From #FinTech to F&B - Abu Dhabi’s top fundraisers are quite diverse! The city has recently been making waves as one of the fastest-growing startup ecosystems in #MENA according to 3rd party reports. The MAGNiTT team decided to take a closer look at the most funded Abu Dhabi-based startups from each month over the past year, from June 2023 to May 2024. Leading the charge with $48M was the blockchain-powered tech platform Andalusia Labs. Not far behind, Alma Health and Fuze also scored impressive funding rounds, with $10M and $14M respectively. Turning to the most recent news, RemotePass secured $5.5M in Series A funding from investors like 212 VC, Khwarizmi Ventures and Endeavor Catalyst, OCTA secured $1M from Sukna Ventures, and The Cloud - Food Ecosystem secured $6M in equity financing from MENA Moonshots. What’s even more exciting is the diversity among these eight startups. They represent a wide range of sectors including Media & Entertainment, Healthcare, Travel & Tourism, FinTech, F&B, and Enterprise Software. And the Abu Dhabi Ecosystem continues to develop with key developments Hub71 with new cohorts, ADQ new fund announcements, Lunate and Mubadala Capital investments in MENA startups. Government entities continue to push on initiatives including ADGM, Abu Dhabi Investment Office and Abu Dhabi Department of Economic Development. Want to stay up to date with all MENA funding news? Make sure to subscribe to our weekly newsletter 👉 https://lnkd.in/daDKeJXH #venturecapital #funding #UAE #VC #startups

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Investment activity in MENA’s startup space slowed down in June 2024, as 38 tech startups raised $116 million, bringing the half-year total to $882 million. The amount raised in June declined 59% month-on-month, but rose 182% when compared to the same period last year. #Startups #Investments #Funding #Mena

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🚀 Are we seeing the light at the end of the tunnel for VC funding? Despite a 34% YoY drop in funding and deals across Emerging Venture Markets in H1 2024, there's a standout: #MENA saw a remarkable 33% increase in investor participation, underlining its continued appeal for international investors. 📈 Dive deeper into the evolving landscape with our MAGNiTT comprehensive H1 2024 VC report! 📊 Discover key insights and trends shaping the future of investment across MENA, South East Asia and Africa. Download it here: https://lnkd.in/dyXQF6ND Some intriguing highlights include: 🌏 Southeast Asia dominated with 64% of total EVM funding. 🌍 Africa's share decreased to 11% from 18%. 💼 Antler and 500 Global topped the charts for deal numbers. 💰 Alibaba Group led in funding with $234M deployed. 🇸🇬 #Singapore led in capital deployment despite a 29% funding decline. 🇸🇦 #SaudiArabia and 🇦🇪 #UAE showed resilient performance with unique funding dynamics. Join me on June 17th at 3PM for a deep dive into these insights during our H1 webinar. Don't miss out—save your spot here: https://lnkd.in/dxJDhsAe Let's decode the numbers together! 🚀 #VentureCapital #Startups #H1Reports #Data #Investment

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📊 A month of revitalization in MENA MENA startups raised $282M across 63 deals in September — 234% increase from August and a 607% surge compared to September 2023. Venture capitalists continue to favor early-stage investments, with Seed-stage startups securing $102M across 32 deals. Debt financing accounted for only 12% of the total volume. The largest deal was closed by Saudi Arabian startup SHIFT, raising $82.8M to expand its car-sharing platform. In second place was Syarah, an online marketplace for buying and selling cars, which raised $60M in a Series C round (including $20M in debt financing). The top three countries remained unchanged: 🇸🇦 Saudi Arabia: 23 startups raised $170.8M.  🇦🇪 UAE: 12 startups raised $73.8M.  🇪🇬 Egypt: 13 startups raised $25M. Despite geopolitical challenges, the MENA ecosystem continues to grow. In Q3 2024, startups raised $727M, a 192% increase year-over-year. The outlook for Q4 remains positive.

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Wild: FinTech in Saudi Arabia 🇸🇦 has grown by 300% in the last 3 years 😳 So I'm super excited to be speaking at 24 Fintech from 3-5 September in Riyadh 🥳 Join me at the FinTech movement uniting the global ecosystem to: - Meet with 26,000+ attendees - Discover the latest #FinTech trends from 300+ global brands - Hear insights from 200+ FinTech experts & more! The best part? You can pitch your startup, chat with me on all things Finance + Tech, how #AI is eating FinTech, why you shouldn't be in the #Forbes 30 under 30 list, among other things 😎 See you there ✌️

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UAE-based fintech Ziina زينة has raised $22 million in a Series A funding round, led by US-based Altos Ventures along with other investors including FinTech Collective, Avenir, Activant Capital, Y Combinator, FJ Labs, Middle East Venture Partners (MEVP), and Jabbar Internet Group. Founded in 2020 by Faisal Toukan and Sarah Toukan, Ziina helps individuals send and receive payments through its app with just a phone number, no IBAN or Swift Code required. It launched its digital wallet in February 2022. The new round will fuel Ziina’s expansion beyond a #payments solution to providing end-to-end #financial services for businesses and consumers, starting with the soon-to-launch ZiiCard. In June 2021, Ziina, fresh from completing YC’s first cohort that year and securing a $7.5 million seed, launched its #fintech app to 20,000 #retail customers, allowing them to send and receive #money. Three years later, the Dubai-based startup, which now counts 50,000 retail and business customers after expanding its offerings to meet the needs of micro, small, and medium-sized #MSME businesses in the #UAE Full TechCrunch article in comments

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Tech and Startup Growth in Saudi Arabia: A Dynamic Ecosystem on the Rise Saudi Arabia’s startup ecosystem continues to flourish, driving innovation across fintech, proptech, foodtech, and entrepreneurship. Here’s a snapshot of recent developments shaping the Kingdom’s vibrant tech and startup landscape: 1. Fintech Milestone: Lean Technologies - Saudi-based Lean Technologies secured $67.5 million in Series B funding, marking General Catalyst’s first investment in a Saudi startup. - Lean’s open banking solutions have processed over $2 billion in transactions and verified nearly 1 million bank accounts under the Saudi Central Bank’s sandbox. - This funding positions Lean as a key player in building fintech infrastructure across MENA, fostering seamless adoption of account-to-account payment solutions. 2. Proptech Leadership: Ejari - Proptech firm Ejari led MENA’s startup investments in October, raising $14.65 million. - Despite a regional funding slowdown, Saudi Arabia emerged as a leader, securing $50 million across 21 deals, driven by robust proptech investments and government initiatives supporting early-stage startups. 3. Tackling Food Waste: Barakah’s Foodtech Innovation - Barakah, a Saudi foodtech startup, collaborates with 1,000+ retailers, including Starbucks and Dunkin’, to combat food waste. - By enabling surplus food sales, Barakah has redirected nearly 1 million meals, with plans for GCC expansion in 2024. 4. Cross-Border Collaboration: Saudi and Egyptian Ecosystems - The Kingdom is attracting Egyptian tech entrepreneurs with its Vision 2030 reforms, streamlined regulations, and substantial funding opportunities. - Bilateral partnerships like Nama Ventures’ investments in Egyptian startups demonstrate the collaborative potential between the two nations. 5. Empowering Saudi Women Entrepreneurs - The latest GEM KSA Women’s Report reveals a 30% growth in entrepreneurial intentions among Saudi women, reflecting the Kingdom’s inclusive policies under Vision 2030. - With 75% of women entrepreneurs focusing on societal and environmental impact, the report underscores their pivotal role in driving sustainable economic growth. 6. Rising Investment Opportunities - Saudi Venture Capital (SVC) is fueling growth through partnerships with firms like BECO Capital, supporting groundbreaking startups in sectors like proptech, fintech, and foodtech. - Saudi Arabia topped MENA’s venture capital funding in H1 2024, attracting $412 million, showcasing its appeal to global investors. The Kingdom’s thriving tech ecosystem is a testament to its strategic vision, supportive government policies, and innovative startups that are reshaping industries while fostering global collaboration. #SaudiStartups #Fintech #Proptech #Vision2030 #Entrepreneurship

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Global VC firms are investing in Saudi Arabia’s booming #SME and #startup ecosystem thanks to robust public support for the Kingdom’s booming private sector. Read our latest report to learn how leaders like 500 Global are identifying the next generation of high-performing Saudi startups in #fintech, #AI, #proptech, and more. To view the report: https://lnkd.in/ehSZjKDr

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Startup growth in the Middle East and Africa In May 2024, the Middle East and North Africa (MENA) region saw an unprecedented surge in startup investment, with 40 startups raising a total of $282 million. This remarkable achievement represents a 413% increase from April’s $55 million. This significant increase in funding underlines the growing importance of the region in the global startup ecosystem and signals strong investor confidence. However, it is important to note that despite this impressive month-on-month growth, the deal value has declined significantly year-over-year by 58% from $445 million in May 2023. Record deals and dominance of debt financing May’s investment landscape was dominated by large deals and debt financing. Leading Property Finder landed its biggest deal ever, worth $90 million. Other notable transactions include Huspy’s significant funding round, which topped $37 million in Series A funding since 2022, as well as Keyper’s $34 million pre-Series A funding, of which $30 million came from debt financing. UAE leads investment in the Middle East and North Africa In May 2024, the United Arab Emirates (UAE) became the undisputed leader in startup investment in the Middle East and North Africa region. UAE startups have amassed a staggering $189 million through 23 transactions, eclipsing other countries in the region. Saudi Arabia followed, raising $56 million across 10 deals, while Egyptian startups raised $24.5 million across four deals. A significant portion of Egypt’s total came from OneOrder’s $16 million Series A round, which combined both debt and equity financing. Bahrain’s Investcorp closed its Investcorp Technology Partners V (ITP V) fund at $570 million, while Shorooq Partners and Korea’s IMM Investment Global (IMMG) launched a $100 million fund. Singapore-based venture capital firm Golden Gate Ventures has also launched a $100 million MENA fund, while Saudi Arabia-based HRtech Qsalary has partnered with Itqan Capital to launch an $80 million investment fund. Golden Gate Ventures managers Vinnie Lauria Founding Partner Golden Gate Ventures | Tsinghua EMBA Candidate | Kauffman Fellow | Endeavor Mentor Jeffrey Paine Managing Partner & Cofounder, Golden Gate Ventures, interested in using Machine Learning to select investments Jeffrey Chua Principal at Golden Gate Ventures Justin Hall Partner at Golden Gate Ventures Michael Lintss Partner at Golden Gate Ventures Paul Bragiel enjoys working with creative people Golden Gate Ventures ranked 6988 by Crunchbase Saudi Arabia Startups Network Fund for Development What does the ministry think about this direction in the economy? #GoldenGateVentures #MENAFund1 #QatarStartups #InnovationInvestment #EntrepreneurialSpirit #uae #mena #fintech #Crunchbase #in5 #dic #DubaiInternetCity #technology #b2b #startups #software #Entrepreneurship #development https://lnkd.in/gdmGQuWk

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𝐅𝐮𝐭𝐮𝐫𝐞 𝐨𝐟 𝐅𝐢𝐧𝐭𝐞𝐜𝐡: 𝐌𝐄𝐍𝐀 𝐌𝐨𝐦𝐞𝐧𝐭𝐬 (𝐀𝐮𝐠 𝟒𝐭𝐡-𝟏𝟔𝐭𝐡) 🌍 The MENA region is experiencing a fintech revolution, with a focus on embedded finance, blockchain, and e-commerce presenting exciting opportunities for growth. ➊ Paymob and Shopify's partnership is a strategic play at catalysing e-commerce growth in the region, making digital entrepreneurship more accessible than ever. This could significantly increase the number of SMEs entering the digital economy, fueling economic diversification. ➋ Akurateco Payment Hub's support in securing a PSP licence for TESS Payments is a critical development. By integrating advanced security and compliance features, this partnership ensures that payment processing in Qatar meets the highest standards. ➌ DIFC and Ripple are pushing blockchain technology for startups and into the operations of large financial institutions. This could mark a pivotal moment for blockchain in MENA, signaling a shift from experimentation to mainstream adoption. ➍ By integrating miles-earning with savings, Wio Bank and Etihad are creating a unique value proposition that blends financial products with lifestyle rewards. This sets a precedent for how banks can leverage partnerships to offer more appealing financial services. ➎ Mastercard and Scale are enabling fintech players to overcome entry barriers in launching payment programs. This can accelerate financial inclusion across the region by providing critical infrastructure and support to emerging fintech companies. ➏ The rollout of Click to Pay by Telr and Mastercard is set to streamline e-commerce transactions by offering secure and frictionless payment experiences - leading to higher conversion rates for merchants and increase consumer confidence in online payments. ➐ Lucky ONE's $3M funding is poised to scale consumer credit services in MENA. This also highlights growing investor confidence in consumer finance solutions in the region. ➑ Cartona's latest funding round underscores its focus on scaling both vertically and regionally. For SMEs in MENA, this could provide a model for addressing working capital challenges through innovative fintech solutions. ➒ By offering exclusive deals and advanced management solutions in the restaurant sector, Foodics and B.Tech Business are likely to set new standards in Egypt’s food service industry, driving competitiveness and operational excellence. ➓ The partnership between Zeebu and SilentSwap introduces a new layer of privacy and security for telecom transactions, utilising decentralised technologies. This can set a new benchmark for secure digital transactions. ___________ Get exclusive insights and data-driven analysis on our website. Subscribe to our newsletter for weekly updates and unlock premium research with our membership plans here ➡️: https://lnkd.in/gxsDKkTQ via WhiteSight #fintech #embeddedfinance #digitalpayments #payments #MENA

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UAE-based startups led the region in funding last month, securing $82.5 million across 15 deals. Egyptian startups followed with $15 million raised by four companies, marking the second-highest total. Saudi Arabia dropped to third, with seven startups raising $13.5 million. Notable activity was also observed in Iraq, with six startups raising an estimated $1.2 million, though this amount could be higher as Orisdi, BonLili, and Alsaree3 did not disclose their investment values. Sector wise, fintech reclaimed its position as the most funded sector in June, securing $38 million over 10 deals, closely followed by contech, thanks to Tenderd’s deal. Meanwhile, three proptech startups raised $19.6 million in June, reversing the lead it achieved in May. The majority of June’s investment went to the pre-Series A stage, as four startups received $45 million, followed by the Seed stage, where five startups raised $27.3 million. However, when considering investment volume, early stage startups are still capturing the attention of investors, where eight startups at their pre-seed stage garnered $3 million, and eight others received $140,000 in grants. Wamda Capital Wamda ومضة Nesma Abdel Azim

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Vision 2030 isn’t just a plan for economic diversification—it’s a blueprint for reshaping the future of Saudi Arabia’s F&B sector. Saudi Arabia’s Vision 2030 is creating a thriving environment for businesses, particularly within the hospitality and food and beverage (F&B) industries. With bold goals to attract 100 million visitors annually by 2030, Saudi’s transformation is not only about expanding infrastructure but also about creating a vibrant ecosystem for local F&B businesses to flourish. Here’s a breakdown of why Vision 2030 matters for the F&B industry: 𝗠𝗮𝘀𝘀𝗶𝘃𝗲 𝗧𝗼𝘂𝗿𝗶𝘀𝗺 𝗕𝗼𝗼𝗺: Saudi Arabia is rapidly evolving into a global tourist destination, with major initiatives like NEOM, AlUla, and Red Sea Project positioning the Kingdom as a leader in hospitality. This influx of tourists will naturally lead to increased demand for diverse dining experiences—from high-end luxury restaurants to local culinary ventures. For restaurateurs, this means unprecedented opportunities to reach new customers and grow their businesses. 𝗘𝗺𝗽𝗼𝘄𝗲𝗿𝗶𝗻𝗴 𝗟𝗼𝗰𝗮𝗹 𝗙&𝗕 𝗘𝗻𝘁𝗿𝗲𝗽𝗿𝗲𝗻𝗲𝘂𝗿𝘀: Vision 2030 is about more than just attracting international brands—it’s about nurturing homegrown talent. The government is providing support in the form of financial incentives, grants, and access to capital. Small and medium-sized enterprises (SMEs) in the F&B space now have better access to resources that were previously out of reach, allowing them to scale faster and operate more efficiently. This democratization of opportunity is leveling the playing field for F&B operators of all sizes. 𝗧𝗿𝗮𝗻𝘀𝗳𝗼𝗿𝗺𝗮𝘁𝗶𝗼𝗻 𝗼𝗳 𝗦𝘂𝗽𝗽𝗹𝘆 𝗖𝗵𝗮𝗶𝗻𝘀: As the Kingdom builds out new cities and expands existing urban centers, there’s also a modernization of the entire supply chain infrastructure. Restaurants will no longer have to face the inefficiencies of fragmented supply chains. With increased focus on digitization, AI-driven logistics, and streamlined procurement, the industry will benefit from faster, more reliable delivery systems, ensuring restaurants can meet customer demand without sacrificing quality or efficiency. 𝗝𝗼𝗯 𝗖𝗿𝗲𝗮𝘁𝗶𝗼𝗻 𝗮𝗻𝗱 𝗘𝗰𝗼𝗻𝗼𝗺𝗶𝗰 𝗚𝗿𝗼𝘄𝘁𝗵: The F&B industry is poised to become a significant contributor to the Kingdom’s GDP under Vision 2030. With the creation of new restaurants, cafes, and food brands, the industry will generate thousands of jobs—boosting the economy and positioning Saudi Arabia as a hub for culinary excellence. How do you see the F&B industry evolving as Vision 2030 continues to unfold? #Vision2030 #F&B #SaudiArabia #EconomicGrowth #RestaurantIndustry #SupplyChain #Tourism

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Saudi 🇸🇦 BNPL player Tabby is to acquire digital wallet Tweeq, the acquisition will enable Tabby to expand its financial product suite with Tweeq’s digital #wallet to offer its customers #digital #spending accounts, #cards and money management tools. Founded in 2019 in the UAE by Hosam Arab, Tabby is a buy now pay later (#BNPL) #fintech with over $6 billion in annualised transaction volume. Meanwhile, Tweeq, founded in 2020 by Saeed Albuhairi and Abdulaziz AlMalki, offers a spending account that allows customers to spend, send, and manage their #money. 🚀 The proposed acquisition by Tabby follows a financing round in December which saw the firm secure $700 million in debt financing from JPMorgan and extend its series D round to $250 million. Read more: https://lnkd.in/euPhusZQ

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🌟 Advancing Saudi Arabia's Startup Ecosystem: What We Need Now Over the past few weeks, I've had the privilege of meeting with key organizations and incredible leaders within our ecosystem. I’d like to share my insights and key takeaways from these conversations. Saudi Arabia's startup landscape has experienced impressive growth. To maintain and enhance this momentum, we must concentrate on several vital areas: 🚀 Programs for Maturing Startups: As startups evolve from early-stage to scale-up, they face unique challenges. We need tailored “programs” that support this transition, offering mentorship, resources, access, and strategic guidance to help them reach their full potential. 🚀 Ecosystem and Stakeholder Inspiration: Activation of Stakeholders—from founders to investors to policymakers (Founders, Framers, Facilitators and Funders)—is vital. Creating awareness about entrepreneurial dynamics and market opportunities can foster a more supportive environment for startups to thrive. 🚀 Corporate Venturing and Collaboration: Encouraging established corporations to engage in corporate venturing initiatives can open doors for startups. Collaboration can lead to mutual benefits, driving innovation and growth in the broader economy. 🚀 Enhanced Networking Opportunities: Building connections is at the heart of a thriving startup ecosystem. By promoting networking events and collaborative platforms, we can create a community where ideas and opportunities freely flow. 🚀 Focused Support and Policies: Crafting policies that specifically target and support the needs of the startup ecosystem will facilitate a more conducive environment for entrepreneurs to innovate and succeed. Together, by focusing on these areas, we can continue to create a sustainable and vibrant ecosystem that propels Saudi Arabia towards a future of innovation and economic diversification. #SaudiStartups #Entrepreneurship #Innovation #CorporateVenturing #EcosystemGrowth #Networking

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A $2 million fund has been launched to bolster Jordan's startup ecosystem, supported by the Innovative Startups and SMEs Fund (ISSF), Jordan's largest fund valued at $98 million. ISSF's investment in VentureSouq II aims to nurture MENA startups at the seed stage. VentureSouq is committed to reinvesting profits back into Jordanian companies at multiples of their initial investments, ensuring sustained growth in the local entrepreneurial landscape. VentureSouq focuses on sectors like fintech, climate tech, and logistics, boasting a portfolio of over 200 companies across 30 countries. Notable projects include UAE-based BNPL platform Tabby and Saudi Arabia's logistics innovator Trukker. The portfolio also features successful EdTech startups from MENA, such as Abwaab, offering online educational platforms, and Kido, managing a network of inclusive child care centers and schools. The MENA region is a hotbed for innovation, and we're seeing more and more exciting startups. Hredtech.vc are particularly interested in ventures that are addressing the unique challenges of the region's workforce, such as talent acquisition, education and development. If you're a founder in the MENA with a great hr or ed tech startup, we encourage you to reach out to us!

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