logo
Outliers bolsters senior ranks with appointment of Kenzie Falcoz as Operating Partner

Outliers bolsters senior ranks with appointment of Kenzie Falcoz as Operating Partner

Zawya06-02-2025

Riyadh, Saudi Arabia – Outliers, the early-stage investment firm backing outlier founders in MENA, today announced the appointment of Kenzie Falcoz as Operating Partner.
In her new role, Falcoz will lead Outliers' platform and portfolio support initiatives which are central to the firm's investment strategy. This includes ecosystem-building efforts such as the company's flagship annual event - The Outliers Builders Summit, and the firm's newly launched Fellowship, a program dedicated to identifying and empowering the next generation of entrepreneurial leaders in MENA. She will also collaborate closely with the firm's portfolio companies on business development, talent acquisition, and refining media and public relations activities to drive investment returns.
Falcoz has been an integral part of the Outliers team since joining as Head of Platform in 2022. During her tenure, she has been instrumental in shaping and expanding how Outliers supports its portfolio companies through proprietary products, network nodes and community initiatives. These efforts have helped elevate the firm's presence, solidify its positioning as partners to its founders, and grow a vibrant community of investors and business leaders.
'It's an honour to take on this new role at such a pivotal time for MENA's thriving tech landscape.' says Kenzie Falcoz, Operating Partner at Outliers. 'The region's growing reputation as a hub for domestic and international investment is fueled by the founders who are building differently. They are the driving force behind the companies set to reshape entire categories, from e-commerce to fintech and digital infrastructure. I'm excited to be part of an operator turned investor team at Outliers - perfectly positioned to support the growing movement towards building bottom-up businesses. It takes more than just capital – it requires true partnership, serving our portfolio on every step of their journey.'
Since founding in 2019, Outliers has built a dynamic network of founders in MENA who are shaping the future of their industries. The firm's thesis-driven strategy and commitment to investing with precise conviction has seen Outliers involved in some of the MENA region's most significant tech success stories. Its portfolio includes BNPL firm Tabby, open banking platform Lean, second-hand platform Soum, digital private wealth management firm Vault, and PropTech leader Nawy. The firm's international exposure has also led to several strategic investments in US cybersecurity founders, such as AI-powered cybersecurity pioneer StrikeReady.
'Kenzie combines empathy, community-centric mindset and dedication to founders with a thoughtful, collaborative approach,' says Mohammed Almeshekah, Founder & General Partner at Outliers. 'These qualities have enabled her to consistently deliver exceptional value for Outliers' network of founders and stakeholders. I'm thrilled to see her take on this new leadership role as we continue our mission of backing the next generation of market making entrepreneurs.'
Sarah AlSaleh, General Partner at Outliers, adds: 'Kenzie's people-first and hands-on approach has made her an invaluable source of strategic contribution to our founders. Her deep industry knowledge and strong network across the MENA tech landscape is central to our mission of backing category-defining founders. Having Kenzie in this new leadership position reinforces our commitment to supporting our portfolio companies at every step of their growth journey.'
-Ends-
About Outliers
Outliers is an early-stage investment firm backing outlier founders in MENA. We are an operator-led firm, partnering with the entrepreneurs shaping the region's tech and business landscape. We work with founders who build differently, uncovering category-defining opportunities that create outsized outcomes.
Press contact media@outliers.vc

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Fintech Leads MENA Startup Investment in Q1 2025
Fintech Leads MENA Startup Investment in Q1 2025

Fintech News ME

time21-05-2025

  • Fintech News ME

Fintech Leads MENA Startup Investment in Q1 2025

In Q1 2025, fintech startups dominated venture capital (VC) activity in the Middle East and North Africa (MENA), raising the three largest transactions of the quarter, according to new data released by Magnitt, a data and intelligence platform tracking venture capital (VC) and private equity across the Middle East. This trend underscores the sector's continued momentum and growing maturity, as high-growth fintechs broaden their offerings, expand into new markets, and position themselves for future public listings. Tabby: building a broad fintech ecosystem Tabby, a leading buy now, pay later (BNPL) platform and shopping app in the region, secured the largest deal of Q1 2025 with a US$160 million Series E financing round raised in February. The round gave Tabby a US$3.3 billion valuation, making it the most valuable tech startup in MENA. With the proceeds, Tabby will accelerate its transformation beyond BNPL into a comprehensive fintech ecosystem, focusing on digital spending accounts, payments, cards, and money management tools, in particular, the company said. This builds on key recent developments, including Tabby's acquisition of Tweeq, a Saudi Arabia-based digital wallet, as well as the rollout of Tabby Card for flexible payments, and Tabby Plus, a subscription program. The Series E round is also positioning Tabby strongly as it prepares for its initial public offering (IPO), which is anticipated to take place within the next 18 months. Saudi Arabia is being considered among potential listing venues, and the company has hired HSBC, JP Morgan, and Morgan Stanley, to work on the IPO, according to a source with knowledge of the matter. Founded in 2019 and based in Saudi Arabia, Tabby allows customers to purchase products online or in-store and split the payment over four monthly installments. The company, which currently operates in Saudi Arabia, the United Arab Emirates (UAE), and Kuwait, claims more than 15 million registered users, over 40,000 retail partners, and over US$10 billion in annualized sales volume. AppliedAI: expanding further into the EU and the US AppliedAI, an insurtech startup based in Abu Dhabi, secured the second largest transaction of Q1 2025, raising a US$55 million Series A in February. The company aims to position itself as a key artificial intelligence (AI) infrastructure provider for highly regulated industries, particularly healthcare and insurance. With a fresh funding, AppliedAI is focused on scaling its technology and workforce, and expand further into the US and European markets. Founded in London in 2021, AppliedAI leverages a combination of artificial intelligence (AI) and human review to process medical billing records and insurance claims faster and more accurately than traditional outsourcing firms. Among its notable clients are Abu Dhabi's M42 Healthcare Group, US law firm Morgan & Morgan, and UK-based drug safety firm Qinecsa. AppliedAI relocated to Abu Dhabi in 2022 to benefit from government grants. NymCard: an embedded finance leader in MENA NymCard, an embedded finance platform in MENA, secured the third biggest transaction of Q1 2025, raising in March a US$33 million Series B funding round. Headquartered in Abu Dhabi, NymCard provides a full-stack, application programming interface (API)-first payment infrastructure for banks, fintech companies, enterprises, and telecom providers to issue cards, process transactions, offer digital lending, and support real-time money movement. To date, the company has partnered with more than 50 leading firms to deliver personalized financial offerings across the region. NymCard's strategy is to cement its position as the leading embedded finance infrastructure provider in MENA by leveraging its proprietary processing platform and switching tech, as well as its deep regional integration. With the proceeds, the company said it will deepen its presence across the 10+ MENA markets it currently serves, and strengthen its payment infrastructure solutions. Funding rebounds in MENA Fintech funding in MENA is showing signs of recovery this year. In Q1 2025, startups in the sector raised a total of US$372 million across 42 deals in Q1 2025, more than 50% of 2024 capital, according to Magnitt. This signals a sharp rebound in investor confidence, and sets the stage of a strong year 2025. This rise in fintech funding reflects a broader resurgence in MENA's startup ecosystem. In Q1 2025, MENA's tech startups amassed a total of US$678 million across 133 transactions, its highest level since Q4 2023. Saudi Arabia and the UAE continued to dominate the region's VC landscape, together accounting for 88% of deal value and 76% of deal count in Q1 2025. Saudi Arabia topped the chart by total funding, securing US$750 million, while the UAE led in deal volume with 188 transactions.

MENA and Turkey See Booming Fintech Sector with 26 Soonicorns
MENA and Turkey See Booming Fintech Sector with 26 Soonicorns

Fintech News ME

time12-05-2025

  • Fintech News ME

MENA and Turkey See Booming Fintech Sector with 26 Soonicorns

The fintech ecosystem across the Middle East, North Africa, and Turkey (MENAT) is experiencing a period of remarkable growth and maturation. According to a recent report by Lucidity Insights, sponsored by SAP, nearly 900 fintech companies in the region have secured funding. Among them, nine have reached unicorn startups, while 26 are so-called 'soonicorns,' or ventures on the verge of achieving billion-dollar valuations. The report, released in February, provides an overview of the region's burgeoning fintech ecosystem, highlighting soaring fintech adoption rates and increased investor interest. 400+ scaleups among which 26 soonicorns MENAT is now home to 898 funded fintech startups, including 465 scaleups. These companies have demonstrated significant growth and market traction, and are indicative of the rapid growth of MENAT's maturing fintech sector, and growing demand for digital financial services. Across the region, the UAE boasts the most fintech scaleups with 155 ventures, representing one third of all fintech scaleups in MENAT. The United Arab Emirates (UAE) is followed by Israel with 141 (30%), Saudi Arabia with 47 (10%) and Egypt with 46 (10%). Among MENAT's 898 funded fintech companies, 26 have risen to soonicorn status, having raised over US$100 million each and positioning them on the path to unicorn status. These include BioCatch, a regtech company from Israel, Rain Financial, a digital currency startup from Bahrain, Foodics, a cloud point-of-sale (POS) restaurant system from Saudi Arabia, and Yassir, a super-app form Algeria. MENAT's 26 soonicorns companies complement the region's nine fintech unicorns, which include buy now, pay later (BNPL) leaders Tabby, based the UAE, and Tamara, from Saudi Arabia, Egypt's super-app MNT-Halan, and eToro, a digital brokerage platform from Israel. Paytech as the top fintech vertical Like most regions in the world, payments and transfers are the largest and most advanced fintech vertical in MENAT. The sector has accumulated over US$5.4 billion in funding over the past two decades, and has given rise to some of MENAT's biggest and most successful ventures. Egypt's digital payment platform Fawry, for example, had raised US$122 million before its initial public offering (IPO) in 2019. Similarly, UAE BNPL startup Tabby has secured about US$600 billion in equity funding so far. The startup is now preparing for a stock market listing within 18 months, its chief executive told Reuters in February. But as MENAT's fintech landscape grows and mature, other verticals, including lending, digital assets, and wealthtech, are gaining traction, drawing significant investor interest. Bahraini digital currency exchange Rain Financial has secured about US$200 million to date. UAE business-to-business (B2B) wealthtech provider Alpheya has raised US$300 million in funding, while PayEm, a procurement and spend management platform from Israel, has attracted US$247 million in equity and credit financing so far. Cross-sector fintech players are also emerging. Careem, once known solely as a mobility platform, has expanded into remittances and digital wallets, positioning itself as a regional super-app. Similarly, Foodics, initially launched as a foodtech company, has entered the fintech space through restaurant financing solutions. 500 Global, Flat6Labs among top fintech investors The rapid growth of fintech in MENAT has been propelled by an expanding and increasingly active investor base. This includes a mix of local and international venture capital (VC) firms, as well as incubators and accelerators supporting early-stage startups. Among the most active players, 500 Global leads with 55 fintech investments totaling US$89.4 million between 2018 and October 2024. It is followed by Flat6Labs from Egypt with 33 deals amounting to US$6.5 million, Y Combinator with 30 investments worth US$250.3 million, and VentureSouq with 28 fintech deals totaling US$245.1 million. When looking at total capital deployed, Saudi Technology Ventures (STV) leads the market with over US$924 million across 16 regional fintech companies. This comes as no surprise, as STV is one of the few later stage investors in the region, investing only in startups that are at the Series B stage or higher, and thus larger tickets. Abu Dhabi's Shorooq Partners follows close behind STV with US $879 million invested across 24 regional fintech companies largely across Seed to Series A startups. Finally, Dubai's MEVP falls in a distant third place, with investments totaling US$374 million across 17 fintech deals, acting mainly as a growth stage investor in the Series A category. Fintech adoption surges MENAT's fintech boom has been fueled by growing demand for digital financial services. This demand stems from the region's young, digitally native population, high smartphone penetration, and proactive government initiatives aimed at modernizing financial infrastructure and boosting digital payment usage. In 2023, penetration rates of key fintech solutions in several MENAT countries reached or exceeded levels seen in mature markets like the US, the UK and Australia. In particular, countries such as the UAE, Saudi Arabia, Turkey, and Israel have emerged as fintech leaders in the region. In Saudi Arabia, for example, monthly mobile payment service usage was among the world's highest in 2023 at 35.2%, surpassing the UK at 34.1%, the US at 31.3%, as well as the global average at 23.7%. Turkey, meanwhile, leads in cryptocurrency ownership, with 21.7% of consumers reporting owning digital assets in 2023, followed by the UAE at 15.3%. These countries are well ahead of the US at 12.8%, Australia at 11.7% and India at 13.3%.

UAE and Saudi Arabia Lead MENA VC Increase; Fintech Remains Top Focus
UAE and Saudi Arabia Lead MENA VC Increase; Fintech Remains Top Focus

Fintech News ME

time07-05-2025

  • Fintech News ME

UAE and Saudi Arabia Lead MENA VC Increase; Fintech Remains Top Focus

Venture capital (VC) investment in the Middle East and North Africa (MENA) continues to rebound this year, driven by a rise in smaller funding rounds, strong investor focus on Saudi Arabia and the United Arab Emirates (UAE), and sustained support for fintech. According to new data from Magnitt, a financial data platform focused on emerging markets across MENA, Pakistan, and Turkey, VC funding in the region reached US$678 million in Q1 2025, representing a 58% year-over-year (YoY) increase and marking the region's highest-funded quarter since Q4 2023. Small rounds below US$100 million led VC investment activity, accounting for 76.4% of the region's total funding in Q1 2025 with US$518 million. In particular, the quarter saw a notable increase in mid- to large-sized rounds, with the US$5 million – US$20 million and US$20 million+ ranges growing by seven points. Series A and Series B investments surged as well, with funding recording a fivefold YoY increase, growing from US$54 million in Q1 2024 to US$278 million in Q1 2025. In Q1 2025, Saudi Arabia and the UAE continued to dominate the region's VC landscape, together accounting for 88% of deal value and 76% of deal count. This builds on momentum from 2024, when the two countries led VC investment in MENA. Saudi Arabia topped the chart by total funding, securing US$750 million, while the UAE led in deal volume with 188 transactions. Fintech remains top focus This year, fintech remains MENA's most attractive sector for VC investment, capturing 57% of total funding in Q1 2025. The quarter was marked by significant rounds involving leading players across the region. Tabby, a buy now, pay later (BNPL) fintech unicorn from Saudi Arabia, raised a US$160 million Series E funding round in February, pushing its valuation to US$3.3 billion. The company said it would use the proceeds to expand its financial services, including digital spending accounts, payments, cards, and money management tools. NymCard, a prominent embedded finance platform from the UAE, secured a US$33 million Series B funding round in March to deepen its presence across 10+ markets in MENA, and strengthen its payment infrastructure solutions across its three core verticals, namely card issuing processing, embedded lending, and money movement. NymCard is partnered with more than 50 banks, fintech startups, and enterprises to deliver personalized financial offerings across the region. Khazna, a financial super-app from Egypt, raised a US$16 million pre-Series B funding round in February to support its growth, with plans to apply for a digital banking license in Egypt and expand into the Saudi market. The Khazna platform integrates financial services such as loans and insurance directly into payroll accounts, alongside direct delivery of unsecured loans to gig economy workers. It claims 500,000 customers. Fintech, a historically leading vertical Fintech was also the most funded tech sector in MENA last year, including debt, according to a recent report by MENA startup data platform Wamda. The space captured 30% of total investment, continuing a trend that began in 2022. Last year, fintech attracted US$700 million in funding across 119 startups, highlighting its continued appeal to investors. Investor appetite in fintech remained strong in April, with the sector continuing to dominate the investment landscape. Fintech companies in MENA raised US$44 million last month, accounting for 19% of total funding of US$228.4 million, according to Wamda. Notable rounds included Fuse Finance's US$6.6 million seed round, Zest Equity's US$4.3 million pre-Series A, and Erad's US$16 million pre-Series A. Fuse Finance is an online fintech platform providing payout solutions for businesses from the UAE, Zest Equity is an online platform for VC investment management from the UAE, and Erad, which is based in Saudi Arabia, provides working capital to online businesses.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store