Latest news with #MeritIncentives
Khaleej Times
09-07-2025
- Business
- Khaleej Times
Stride Ventures announces first close of ADGM Fund, accelerating venture debt leadership in the GCC
Stride Ventures, a global leader in venture debt, has announced the successful first close of its flagship Abu Dhabi Global Market (ADGM) Fund V, marking a pivotal moment in the firm's strategic expansion across the GCC. With this milestone, Stride Ventures underscores its commitment to becoming the largest provider of highly non-dilutive and flexible shariah compliant capital to high-growth startups across the region, empowering founders with world-class underwriting, deep sector expertise, and transformative capital. Building on a consistently superior track record of deploying over $1.2 billion across more than 170+ high-growth companies worldwide. The firm has already executed several significant transactions in the region, with ticket sizes averaging $10 to $15 million, and a strong $110 million deal pipeline that spans key sectors including fintech, healthtech, logistics, and climate tech. Stride's focus extends beyond capital — the firm brings global underwriting expertise, deep sector insights, and a founder-first, sector-agnostic approach that empowers entrepreneurs. Some of the region's most dynamic startups are already part of Stride's growing portfolio, including Merit Incentives, a leading provider of customer and employee engagement solutions, among others. Through the ADGM Fund V, Stride plans to triple its assets under management in the GCC to over $500 million by 2026, reinforcing its long-term commitment to supporting the region's entrepreneurial and innovation economy. Stride Ventures has doubled its presence across the GCC, with a particular focus on the Kingdom of Saudi Arabia. Supported by an experienced leadership team and an expanding regional footprint, the firm is well-positioned to meet the growing demand for venture debt while contributing to the goals of Vision 2030 by enabling innovation, supporting entrepreneurship, and contributing to job creation. Ishpreet Singh Gandhi, founder and managing partner, Stride Ventures, said: 'The region is at the centre of one of the most dynamic growth stories of our time — driven by a clear vision for economic diversification and global competitiveness. At Stride Ventures, we are here to be a long-term partner in that journey. Through the ADGM Fund, we are committed to providing the capital, expertise, and partnership that ambitious founders and innovators need to build businesses that will define the region's future.' Initiatives in the region continue to play a key role in supporting the ecosystem and Stride Ventures expansion in the region. In Saudi Arabia, the Riyadh Digital Innovation District (RDID), led by the Royal Commission for Riyadh City, has provided an enabling environment for global investors and ecosystem partners. As part of this, The Garage has served as a world-class platform connecting Stride directly with startups, fund managers, and the broader entrepreneurial ecosystem, helping the firm establish meaningful partnerships and a growing presence in the Kingdom. Stride's entry into ADGM, a global financial centre, reflects its commitment to bringing global best practices, institutional discipline, and a strong international network to the region's innovation ecosystem. Stride Ventures is also partnering with top banks in the region to enhance access to venture debt for new-age businesses and provide comprehensive financing solutions tailored for high-growth companies. With a disciplined investment approach and a proven founder-first philosophy, Stride has consistently delivered strong returns, including the full return of Fund I and ongoing distributions from Fund II. Fariha Ansari, Partner at Stride Ventures, shared: 'Saudi Arabia is rapidly positioning itself as a dynamic and promising destination for innovative financing solutions, particularly in growth debt. Driven by Vision 2030's ambitious goals to diversify the economy and foster innovation, the Kingdom's forward-looking regulatory environment is creating exciting opportunities for investors and entrepreneurs alike. The overall momentum and commitment to transformation make Saudi Arabia a key partner in shaping the future of financing across the Middle East. At Stride Ventures, we are energised by the potential here and proud to be part of this transformative journey.'
Arabian Post
25-04-2025
- Business
- Arabian Post
Saudi Arabia Emerges as Leading Venture Capital Hub in Emerging Markets
Saudi Arabia has surpassed Singapore to become the top destination for venture capital funding among emerging markets, securing $391 million in the first quarter of 2025. This 53 percent year-on-year increase positions the Kingdom ahead of regions including the Middle East, Africa, Pakistan, Türkiye, and Southeast Asia, according to data from venture analytics platform MAGNiTT. The Kingdom accounted for 58 percent of all venture funding in the Middle East and North Africa region during this period, with 41 percent of the total transactions. This performance reflects a significant shift in investor confidence, driven by a combination of strategic government initiatives, active sovereign wealth fund participation, and a focus on early-stage investments. Notably, there was an 87 percent year-on-year increase in non-mega deal funding and a 437 percent rise in Series A and B rounds. Key transactions included $28 million raises by and Merit Incentives, indicating robust support for startups at critical growth stages. The broader MENA region also experienced a resurgence in venture capital activity, with total funding reaching $678 million in the first quarter—a 58 percent increase compared to the same period last year. This growth occurred despite a 21 percent decline in the number of deals, which totaled 133 transactions. The uptick is attributed to improved investor sentiment following interest rate cuts across the Gulf in late 2024, as well as sustained activity from sovereign funds and flagship ecosystem initiatives like LEAP 2025.
Wamda
12-03-2025
- Business
- Wamda
MENA startups raised $494 million in February 2025, 371% MoM growth
The Middle East and North Africa's (MENA) startup ecosystem experienced a remarkable surge in activity during February 2025. The region witnessed a significant influx of investment, with startups raising a total of $494 million across 58 deals. This impressive figure represents a nearly fivefold increase compared to the investment amount secured in the same month of the previous year. In January, debt financing constituted 90% of the total investment. In contrast, February saw a significant drop in debt financing, which made up only 15% of the total investment that month. Excluding debt from both months reveals that February recorded a 371% month-on-month (MoM) increase in investment activity. LEAP sends Saudi Arabia to the top Startups in Saudi Arabia raised $250.3 million across 25 deals last month, leading the region in fundraising. This rise was driven in part by the LEAP 2025 conference, where many startups announced their closed deals. The UAE followed in second place, with 15 of its startups raising $203.5 million. Egypt came in a distant third, with just $27.5 million raised by eight startups. Oman returned to the top four with two startups raising $6 million. Fintech dominates again Last month, the fintech sector secured $274 million through 15 deals, leading all sectors in fundraising. Insurtech followed with $55 million raised across two deals, while the logistics sector ranked third, securing $28.5 million in four deals. Investors pay attention to later stages February also witnessed an improvement in the number of later-stage deals, with Tabby raising $160 million in Series E funding. Both Ula and Merit Incentives secured $28 million in Series B funding. Additionally, Taager and Khazna successfully closed their pre-Series B rounds, raising $6.7 million and $16 million, respectively. However, in terms of deal count, the majority of investments went to the pre-seed stage, where 15 startups bagged $22 million, while startups at the Series A stage saw a cash influx of $158 million distributed over seven rounds, and 10 seed-stage startups received $27.8 million. Startups operating in the business-to-business (B2B) model took the lead as the most funded in February, garnering $191.6 million through 33 transactions, and the business-to-consumer (B2C) model raised $138.5 million in 18 deals, while six startups operating in both domains secured $164 million. Startups that operate in the business-to-business (B2B) domain were the most funded in February, raising $191.6 million across 33 deals. Business-to-consumer (B2C) startups raised $138.5 million across 18 deals, while 6 startups that operate in both domains raised $164 million. As ever, startups led by male founders garnered the largest amount of investment, bringing in $429 million, accounting for 87% of the total investment for the month. Meanwhile, startups with female founders only received $200,000, and the remaining amount was invested in startups co-founded by both genders.
CairoScene
12-02-2025
- Business
- CairoScene
UAE-Based Merit Incentives Raises $28M Series B For Global Expansion
UAE-based Merit Incentives scaled its loyalty and rewards platform, which connects 5,000 brands over 100 countries. Feb 12, 2025 Merit Incentives, a UAE-based rewards and loyalty platform, has secured $28 million in a Series B funding round from Capital Investment, Stride Ventures, Tech Invest Com, and Oryx Fund. The company offers digital gift cards, employee engagement tools, and customer loyalty solutions, working with major brands like Riyad Bank, Vodafone, Adidas and Amazon. Founded in 2016, the company operates across the UAE, Saudi Arabia, Kuwait, Egypt and Jordan. With a network spanning over 5,000 brands in over 100 countries, Merit Incentives now serves more than 20 million users. This latest funding follows a $5 million Series A in 2021 and a $12 million Pre-Series B round in mid-2024.
