Latest news with #EQIQVentures
Iraq Business
26-05-2025
- Business
- Iraq Business
Wayl Raises $150 k Pre-Seed Funding from EQIQ Ventures
By John Lee. Wayl, the payments platform for online sellers in Iraq, has secured USD 150,000 in pre-seed financing from EQIQ Ventures, a venture-capital fund led by Mohamed Al-Hakim. Wayl plans to use the capital to expand its digital-payments solution for social-media merchants and freelance workers, addressing a market where an estimated 97 percent of transactions remain cash-based despite e-commerce in the region being forecast to reach USD 15 billion by 2027. (Source: EQIQ Ventures) Tags: cg, DJ, EQIQ Ventures, featured, start-ups, Wayl
CairoScene
24-05-2025
- Business
- CairoScene
EQIQ Ventures Doubles Fund to $30M to Boost Iraq's Digital Economy
From London to Baghdad, EQIQ Ventures is betting on Iraq's overlooked potential to build a new digital economy. May 24, 2025 Abu Dhabi-based venture capital firm EQIQ Ventures has doubled its fund size from $15 million to $30 million, reinforcing its commitment to Iraq's emerging digital economy. The fund will target sectors such as e-commerce, fintech, logistics, and digital infrastructure, aiming to back both new ventures and scale-ups. Founded by Mohamed Al-Hakim and Said Rahmani, EQIQ Ventures was created to tackle a gap few investors have entered. The firm plans to allocate 80% of its capital towards building an interconnected startup ecosystem in Iraq—one that supports growth through shared infrastructure, regional talent networks, and customer pipelines. 'Iraq has significant untapped potential underpinned by a young, vibrant, and tech-savvy population that is hungry to achieve,' Mohamed Al-Hakim, Founder of EQIQ Ventures, tells StartupScene. 'The country is underserved in many sectors; capital has been scarce as investors have been cautious to enter a market they know little about.' Since closing its first $15 million tranche in January 2023, EQIQ has secured backing from regional and local investors, many of whom see Iraq's post-conflict stabilisation as a unique opportunity to invest in scalable, locally embedded tech solutions.
