Latest news with #Nabeeh
Arab News
31-01-2025
- Business
- Arab News
Startup Wrap — MENA startups raise $2.3bn in 2024 as deal volume grows
RIYADH: Startup funding deals across the Middle East and North Africa saw an annual increase of 3.5 percent in 2024, with 610 agreements recorded across the region. According to a report from Wamada, fintech remained the dominant sector, attracting 30 percent of total funding, or $700 million. Software-as-a-service saw strong traction in Saudi Arabia, while Web 3.0 saw $256.8 million and e-commerce also gained momentum with $253 million in funding. Despite the strong showing in these sectors, the overall funding value across the startup ecosystem of $2.3 billion represented a 42 percent year-on-year drop. When excluding debt financing, the decline stood at just 11 percent. The UAE led with $1.1 billion raised across 207 deals, followed by Saudi Arabia at $700 million from 186 deals, and Egypt securing $334 million across 84 deals. Oman ranked fourth with $41.5 million, while Morocco and Tunisia led in North Africa, raising $20.8 million and $13.1 million, respectively. Emerging ecosystems in Jordan, Qatar, and Lebanon also showed modest growth. Early-stage startups accounted for over $1.2 billion in investments, while later-stage and pre-IPO rounds saw limited activity. Female-founded startups raised $27.6 million, or 1.2 percent of total funding, with mixed-gender founding teams securing $192 million. Ebana secures $2.66m to expand fintech solutions Saudi-based fintech startup Ebana has raised $2.66 million in a pre-series A round led by Esnad Legal Consulting and Business Governance. Founded in 2020 by Ali Al-Shareef, Ebana provides digital services and technical infrastructure for corporate governance affairs. The newly raised capital will be used to enhance Ebana's investor relations tools, expand its fintech solutions, and strengthen its services for both public and private enterprises. Nabeeh secures investment from Ibtikar Fund to grow user base Saudi-based e-services platform Nabeeh has raised an undisclosed investment from Ibtikar Fund. Originally founded in Palestine in 2021 by Saber Samara and Fawaz Samara, Nabeeh provides an online platform for booking housekeeping, maintenance, and renovation services. 'Property owners and businesses often struggle with unreliable maintenance and cleaning providers and a lack of transparency. Nabeeh bridges this gap by offering seamless, tech-enabled solutions that prioritize quality, speed, and trust,' Samara said. With this funding, Nabeeh plans to double its user base, expand its business-to-business portfolio, and introduce new platform features. Silkhaus raises growth funding to expand into Saudi Arabia UAE-based proptech startup Silkhaus has closed a seven-figure growth funding round led by Nuwa Capital and Oraseya Capital, with participation from Impulse International, Yuj Ventures, Nordstar, and other investors. Founded in 2021 by Aahan Bhojani, Silkhaus operates a marketplace for short-term rentals across the UAE. The new funding will support its expansion into Saudi Arabia, where it is now open for bookings. This follows a multi-million-dollar pre-Series A round secured last year by Partners for Growth. 'With the support of our investors and team, we are excited to scale our operations in the UAE and Saudi Arabia, offering innovative solutions to property owners and premium experiences to guests. The short-term rental economy of the GCC (Gulf Cooperation Council) is experiencing a significant growth surge, and we are proud to be leading this growth,' Bhojani said. UpLevel raises pre-seed funding to enhance corporate coaching Saudi-based education tech startup UpLevel has closed an undisclosed pre-seed funding round backed by a group of angel investors. Founded in 2024 by Idris Al-Shayea and Hamad Al-Luhaidan, UpLevel connects companies with professional coaches to enhance employee performance. The fresh funding will help UpLevel scale its operations and further develop its coaching network for corporate clients. BioSapien extends pre-Series A round to $7m UAE-based health tech startup BioSapien has extended its pre-Series A round to $7 million, with new participation from Golden Gate Ventures, marking the first deployment of its MENA-focused fund. Founded in 2018 by Khatija Ali, BioSapien is developing MediChip, a 3D-printed, slow-release drug delivery platform designed to attach to tissue with minimal systemic side effects. The extension follows the company's $5.5 million pre-series A round in December, led by Global Ventures and joined by Dara Holdings. Retailhub raises funding to expand SaaS platform UAE-based retail SaaS provider Retailhub has secured an undisclosed investment from Angelspark. Founded in 2022 by Daniel Alimov and Roman Tikhonov, Retailhub provides an automated platform that synchronizes stock updates from point-of-sale systems to aggregators and consolidates orders into a single application. The new funding will enable Retailhub to enhance its platform capabilities, strengthen partnerships, and scale operations within the UAE and beyond. Maalexi secures $3m debt financing from Citi UAE-based agriculture fintech startup Maalexi has secured a $3 million debt financing facility from Citi to expand its sourcing operations. Founded in 2021 by Azam Pasha and Rohit Majhi, Maalexi provides a risk management platform that enables small food and agribusinesses to access cross-border trade. The facility will help build a technology-enabled supply chain linking origin markets to the UAE. This follows a $1 million venture debt round secured in July from Stride Ventures. raises pre-seed funding to expand logistics platform Egypt-based logistics startup has raised an undisclosed pre-seed funding round led by Plus VC, with participation from Plug and Play, Orbit Startups, Jedar Capital, and other regional investors. Founded in 2023 by Mostafa El-Masry and Nihal Ali, provides e-commerce retailers with access to a marketplace of delivery providers and an operations dashboard. The new funds will support platform improvements, courier network growth, and expansion into the African and Middle Eastern markets. Dsquares acquires majority stake in Prepit Egypt-based loyalty solutions provider Dsquares has acquired a majority stake in Prepit, an Egyptian B2B SaaS loyalty platform, for an undisclosed amount. Founded in 2012 by Ayman Essawy, Marwan Kenawy, and Momtaz Moussa, Dsquares specializes in B2B loyalty programs for industries such as banking, telecom, fast-moving consumer goods, and retail. Prepit, founded in 2022 by Karim Hussein and Tarek Afia, provides AI-driven tools to streamline food and beverage operations. The acquisition strengthens Dsquares' presence in the loyalty sector across key Middle Eastern markets, including Saudi Arabia, Egypt, and the UAE.
Wamda
29-01-2025
- Business
- Wamda
Ibtikar Fund backs Nabeeh with undisclosed investment
Saudi Arabia-based e-services platform Nabeeh has raised an undisclosed investment from Ibtikar Fund. Founded in Palestine in 2021 by Saber Samara and Fawaz Samara, Nabeeh is an online platform that allows users to book housekeeping, cleaning services, maintenance, repairs, and renovation services. With this funding round, Nabeeh aims to double its user base, expand its B2B client portfolio, and introduce new features to its platform. Press release: Ibtikar Fund is excited to announce its investment in Nabeeh, a game-changing PropTech startup revolutionising maintenance and cleaning services for property owners, real estate operators, and multi-branch businesses through cutting-edge technology and on-demand innovation. This investment underscores Ibtikar Fund's strategy of supporting innovative and scalable startups that address real market needs and deliver strong returns. 'Nabeeh's impressive growth trajectory and its ability to penetrate key markets like Saudi Arabia reflect its potential to become a dominant player in the maintenance and facility management space,' said Reem Qawasmi, venture partner at Ibtikar Fund. 'We are confident that our investment will help Nabeeh achieve its ambitious goals and deliver significant value to customers and investors alike.' 'Property owners and businesses often struggle with unreliable maintenance and cleaning providers and a lack of transparency. Nabeeh bridges this gap by offering seamless, tech-enabled solutions that prioritise quality, speed, and trust,' said Fawaz Samara, Co-Founder and CEO of Nabeeh. 'As we continue to grow and expand in the Saudi market, this phase enables us to cater to the unique needs of real estate rental platforms, property operators, and multi-branch businesses. Our commitment remains focused on enhancing our platform, delivering innovative on-demand solutions, and providing top-quality services that align with the dynamic demands of our clients.' Nabeeh: Leading the Future of Maintenance ServicesNabeeh is a cutting-edge PropTech platform revolutionising maintenance and cleaning services for property owners, real estate operators, home appliance companies, and multi-branch businesses. By leveraging innovative technology, Nabeeh simplifies maintenance management, ensuring efficiency, quality, and customer satisfaction. Key Offerings: For Real Estate Operators: Streamlined maintenance management with preventive and reactive solutions, analytics, and real-time reporting. For Multi-Branch Businesses: Centralised management of maintenance requests across branches with scalable and flexible solutions. For Home Appliance Companies: Efficient handling of warranty-related maintenance and repairs for end customers. For Service Providers: A dedicated app to manage bookings, communication, and payments with ease. Nabeeh: Proven Success and Market Leadership Nabeeh was founded by Fawaz Samara (CEO) and Saber Samara (COO), both seasoned professionals with extensive experience in facility management and real estate operations. Together, they have built a platform that combines advanced technology with deep industry expertise, offering innovative solutions that meet the needs of property owners, businesses, and service providers alike. Since its launch in 2021, Nabeeh has maintained 300% year-on-year growth in user base and a 95% client satisfaction rate. The company now operates in six major cities across Saudi Arabia, with over 20,000 app downloads by property owners, dozens of B2B clients, and partnerships with hundreds of service providers. With this funding round, Nabeeh aims to double its user base, expand its B2B client portfolio, and introduce new features to its platform, including predictive maintenance capabilities. These advancements are set to solidify Nabeeh's position as a leader in the PropTech sector and a driving force in the transformation of the region's booming real estate sector. This milestone marks a crucial step in Nabeeh's mission to redefine maintenance and facility management, focusing on delivering unmatched quality, efficiency, and innovation to its clients and partners.
