Latest news with #NamaVentures
Arab News
10-05-2025
- Business
- Arab News
Venture capital founders focus on scale and substance
RIYADH: Momentum is building across the Middle East and North Africa's startup ecosystem as early-stage capital returns with renewed focus and selectivity. Investors are backing sharper business models, founders are scaling with intent, and sector diversity is deepening — signaling a more disciplined, strategically aligned phase of growth for the region. On the regulatory front, Nama Ventures Capital Co. has received approval from Saudi Arabia's Capital Market Authority to commence investment management activities in the Kingdom. Founded by Mohammed Al-Zubi and chaired by Sultan Al-Saud, the firm is one of the first foreign venture capital firms to become fully licensed under Saudi capital markets law. Originally registered in the Cayman Islands, Nama has added Saudi Arabia to its regulatory base to align with the country's Vision 2030 objectives. 'Vision 2030 continues to turn Saudi Arabia into a thriving global hub for innovation, investment, and entrepreneurship — and this achievement places Nama Ventures at the heart of that momentum,' Al-Saud said. The approval will allow the firm to launch its flagship funds and Shariah-compliant investment vehicles, targeting high-growth startups across Saudi Arabia, the MENA region, and selected global markets. 'This letter is more than a regulatory approval; it represents our deep-rooted commitment to Saudi Arabia's entrepreneurial vision,' said Al-Zubi, founder and managing partner. 'We are proud to be fully 'on the ground,' regulated, and aligned with the future of venture capital in the region,' he added. Nama Ventures has made early-stage investments in several high-growth startups, including Salla and Tamara, both of which have since reached unicorn status. Among its more recent highlights is a developer infrastructure platform that was acquired by Nvidia, underscoring Nama's ability to identify globally competitive founders. Money Fellows closes $13m strategic round Egypt-based fintech platform Money Fellows has raised $13 million in a strategic round co-led by Al Mada Ventures and DPI Venture Capital through the Nclude Fund, with participation from Partech, CommerzVentures, and others. Founded in 2017 by Ahmed Wadi, the company digitises traditional savings circles to facilitate accessible saving, borrowing, and investing across Africa. The new funding will support platform enhancement, team expansion, and entry into new markets, particularly Morocco. Fintech startup Nqoodlet raises $3m seed round Saudi Arabia-based fintech Nqoodlet has closed a $3 million seed round led by Waad Investments, with participation from OmanTel, 500 Sanabil Investment, Oqal, Seed Holding, and other investors. Founded by Mohamed Milyani and Yara Ghouth, Nqoodlet provides a financial operating system for small and medium-sized enterprises across Saudi Arabia and the GCC. Its offerings include smart corporate cards, real-time expense tracking, automated VAT filing, and financial planning tools. The new funding will support the expansion of its banking infrastructure, the development of open banking integrations and automated tax reporting, team growth, and broader collaboration with banks and ecosystem partners. Career 180 receives US investment and enters Saudi market Egyptian education tech startup Career 180 has received a six-figure investment from US-based Den VC and announced its expansion into Saudi Arabia, supported by Value Makers Studio. Founded in 2017 by Shrouk El-Din and Mohamed Akmal, the company offers a Software-as-a-Service-based learning management system that provides practical skills training and job-matching services. Career 180 currently serves over one million learners and aims to place 50,000 individuals in the workforce, with a focus on unemployed youth. The investment will enable the company to scale its LMS, localize Arabic content, and expand into Oman and Malta. Canater raises $1m to scale logistics platform UAE-based logistics startup Canater has raised $1 million in funding from Foras in exchange for a 10 percent equity stake. Founded in 2024 by Khamis Soliman, Canater provides AI-powered logistics and supply chain solutions for manufacturers in the MENA region, with an initial focus on consumer-packaged goods. The platform offers end-to-end cross-border trade services, including digital contracts, financing, warehousing, logistics, and real-time shipment tracking. The funding will be used to enhance the company's digital infrastructure, expand sectoral reach, and strengthen regulatory partnerships. Intella partners with Infoline to launch Arabic AI platform in Oman Arabic AI solutions provider intella has partnered with Infoline, an Omantel subsidiary and leading outsourcing provider in Oman, to roll out its AI-powered customer experience platform, intellaCX. The platform is designed to convert Arabic voice and text interactions into business insights, offering a tailored solution for Arabic-speaking markets. IntellaCX supports 25 Arabic dialects and uses proprietary models to deliver transcription accuracy of 95.7 percent. The platform replaces traditional 5 percent call sampling methods with 100 percent automated analysis, enabling businesses to detect trends, assess performance, and improve service quality at scale. Through Infoline's local integration capabilities, the solution will be deployed across Omani enterprises to enhance customer care and operational efficiency. MENA startup funding rises to $228m in April Startups across the MENA raised $228.4 million across 26 deals in April, marking a 105 percent increase from March and a nearly 300 percent year-on-year surge. Saudi Arabia led the region with $158.5 million in funding across eight deals, driven largely by iMENA Group's $135 million pre-IPO round. The UAE followed with $62 million across nine deals, while Morocco secured third place with $4 million across two startups. The fintech sector attracted the most capital, securing $44 million across seven deals. Traveltech and SaaS also saw renewed interest, with SaaS startups raising $1.8 million after a quiet first quarter. Early-stage investments accounted for $49 million across 20 transactions, indicating strong appetite for emerging ventures despite limited late-stage activity. Alchemist Doha partners with Startup Grind Qatar Alchemist Doha, an equity fund focused on tech entrepreneurs in emerging markets, has entered into a strategic partnership with Startup Grind Qatar, the local chapter of a global founder and startup network. The collaboration will facilitate access to global networks, deliver founder-focused programming, and support high-potential startups in scaling both locally and internationally. The initiative aligns with broader efforts to strengthen Qatar's entrepreneurial ecosystem. MedIQ secures $6m series A to expand in Saudi Arabia and Gulf markets Pakistan-based health tech platform MedIQ has raised $6 million in a series A funding round led by Rasmal Ventures and Joa Capital, with participation from existing investors. Founded in 2020 by Saira Siddique, MedIQ provides a hybrid healthcare platform combining telehealth, e-pharmacy services, AI-driven facility digitization, and back-office automation for insurance partners. The company expanded into Saudi Arabia in 2023 and will use the funding to strengthen its technology stack, scale operations in the Kingdom's health tech market, and support entry into Qatar and neighboring Gulf markets. iSUPPLY secures $3m Shariah-compliant financing from Bokra Egypt-based B2B medical tech startup iSUPPLY has secured $3 million in revenue-based revolving financing from Bokra. The funding is Shariah-compliant and will support the company's operational scale-up and improved access to medical supplies, particularly in underserved communities. Founded in 2022 by Ibrahim Emam, Malek Sultan, and Moustafa Zaki, iSUPPLY offers a one-stop solution to digitise pharmaceutical supply chains and address disruption risks. The company previously closed a pre-series A round in June with participation from Disruptech Ventures, OneStop Capital, Axian Investment CVC, and Egypt Ventures. CPX Holding acquires cyber-AI startup spiderSilk UAE-based cybersecurity firm CPX Holding has acquired local cyber-AI startup spiderSilk, including its core product, the Resonance platform for managing digital exposure. Founded in 2019, spiderSilk has developed autonomous SOC AI agents and a proprietary cyberintelligence platform built on a global knowledge graph. The acquisition aims to strengthen CPX's threat detection capabilities and supports its international expansion strategy, including entry into North America, Saudi Arabia, and the broader GCC. Konnect Networks receives investment from Attijariwafa Ventures Tunisian fintech startup Konnect Networks has secured an undisclosed amount from Attijariwafa Ventures as part of a broader funding round that included Visa, Plug and Play Tech Center, and Renew Capital, as well as Digital Africa Ventures, Utopia Capital Management, 54 Collective, and Sunny Side Venture Partners. Founded in 2021 by Amin Ben Abderrahman, Konnect offers payment links, e-commerce plugins, and APIs for businesses of all sizes. The latest funding will support product innovation and regional expansion. In late 2024, Konnect also secured funding from Renew Capital. Sira expands professional networking platform to UAE Jordan-based professional community platform Sira has launched operations in the UAE as part of its regional expansion strategy. Founded in 2022 by Ayah Saeed and Zara Najjar, Sira offers a curated, membership-based platform focused on building authentic, values-driven professional connections. The platform features private communication spaces, peer-led admissions, and sector-agnostic events. The UAE expansion supports Sira's mission to build a trust-based network across the MENA region. To date, the company claims it has facilitated over $3.6 million in collaborations among members.
Wamda
05-05-2025
- Business
- Wamda
Nama Ventures secures CMA license to operate as fully regulated VC in Saudi Arabia
Saudi Arabia-based Nama Ventures Capital Co. has received regulatory approval from the Capital Market Authority (CMA) to commence investment management operations in the Kingdom. Co-founded by Mohammed Alzubi and chaired by HRH Sultan Bin Fahad Bin Salman Al Saud, Nama Ventures is among the first foreign venture capital firms to become fully licensed under Saudi capital markets law. The firm, originally registered in the Cayman Islands, has now established its regulatory base in Saudi Arabia to align with the Kingdom's evolving investment ecosystem under Vision 2030. The approval will enable Nama Ventures to launch its flagship funds and Shariah-compliant investment vehicles, targeting high-growth startups across Saudi Arabia, the MENA region, and select global markets while deepening its collaboration with institutional and sovereign investors. Press release: Nama Ventures Capital Co., one of the first foreign venture capital firms to become fully regulated under Saudi Capital Markets law, has received formal approval from the Capital Market Authority (CMA) to commence its investment management operations in the Kingdom. The milestone marks a significant strategic step as the firm reinforces its long-term commitment to the Saudi innovation ecosystem. The approval follows the firm's decision to relocate its regulatory base to Saudi Arabia in addition to its base in the Cayman Islands. This step aligns its operations with the Kingdom's evolving investment environment and regulatory framework. With the issuance of the CMA commencement letter, Nama Ventures has successfully completed all regulatory requirements and is now licensed to operate as a Saudi-based investment firm. HRH Sultan Bin Fahad Bin Salman Al Saud, Chairman of the Board, General Partner at Nama Ventures, commented: 'Nama Ventures' licensing milestone is a reflection of the profound regulatory and economic transformation unfolding in the Kingdom under the leadership of His Royal Highness Crown Prince Mohammed bin Salman. Vision 2030 continues to turn Saudi Arabia into a thriving global hub for innovation, investment, and entrepreneurship—and this achievement places Nama Ventures at the heart of that momentum.' Mohammed Alzubi, Founder and Managing Partner of Nama Ventures. 'This letter is more than a regulatory approval; it represents our deep-rooted commitment to Saudi Arabia's entrepreneurial vision. We are proud to be fully 'on the ground', regulated, and aligned with the future of venture capital in the region.' Nama Ventures Capital Co. will continue the launch of its flagship funds, alongside a suite of Shariah-compliant vertical investment vehicles, targeting high-growth startups across Saudi Arabia, the MENA region, and selected international markets. The firm's localised structure is expected to deepen engagement with institutional and sovereign investors while enhancing its value to founders seeking trusted, founder-first value-add capital.
Argaam
04-05-2025
- Business
- Argaam
Nama Ventures Secures CMA Approval to Launch Investment Management Operations in Saudi Arabia
Nama Ventures Capital Co., one of the first foreign venture capital firms to become fully regulated under Saudi Capital Markets law, has received formal approval from the Capital Market Authority (CMA) to commence its investment management operations in the Kingdom. The milestone marks a significant strategic step as the firm reinforces its long-term commitment to the Saudi innovation ecosystem. The approval follows the firm's decision to relocate its regulatory base to Saudi Arabia in addition to its base in the Cayman Islands. This step aligns its operations with the Kingdom's evolving investment environment and regulatory framework. With the issuance of the CMA commencement letter, Nama Ventures has successfully completed all regulatory requirements and is now licensed to operate as a Saudi-based investment firm. HRH Sultan Bin Fahad Bin Salman Al Saud, Chairman of the Board, General Partner at Nama Ventures, commented: 'Nama Ventures' licensing milestone is a reflection of the profound regulatory and economic transformation unfolding in the Kingdom under the leadership of His Royal Highness Crown Prince Mohammed bin Salman. Vision 2030 continues to turn Saudi Arabia into a thriving global hub for innovation, investment, and entrepreneurship—and this achievement places Nama Ventures at the heart of that momentum.' Mohammed Alzubi, Founder and Managing Partner of Nama Ventures.'This letter is more than a regulatory approval; it represents our deep-rooted commitment to Saudi Arabia's entrepreneurial vision. We are proud to be fully 'on the ground,' regulated, and aligned with the future of venture capital in the region.' Nama Ventures Capital Co. will continue the launch of its flagship funds, alongside a suite of Shariah-compliant vertical investment vehicles, targeting high-growth startups across Saudi Arabia, the MENA region, and selected international markets. The firm's localized structure is expected to deepen engagement with institutional and sovereign investors, while enhancing its value to founders seeking trusted, founder-first value add capital.
Arab News
02-05-2025
- Business
- Arab News
Think local: How startups can successfully expand into Saudi Arabia's fast-growing market
RIYADH: Saudi Arabia's rapidly expanding market presents lucrative opportunities for startups, but successful entry requires careful planning and a deep understanding of the local landscape. Industry experts told Arab News that companies looking to expand into Saudi Arabia must focus on key factors such as securing regulatory approvals, ensuring financial stability, hiring the right talent, and adapting to the local culture. By prioritizing these elements, businesses can establish a strong foothold in one of the Middle East's most lucrative markets. Regulatory landscape Regulatory compliance is one of the primary hurdles for startups entering the Saudi market. While the country is actively fostering entrepreneurship and foreign investment, businesses must follow strict licensing and legal requirements. Mohammed Al-Zubi, managing partner and founder of Nama Ventures, emphasized the need for startups to thoroughly understand and prepare for regulatory processes. 'While Saudi Arabia is opening up to startups, businesses must secure the right MISA (Ministry of Investment) licensing, sector approvals, and legal structures. Many founders underestimate the process and should plan accordingly,' Al-Zubi said in an interview with Arab News. Failing to navigate these regulatory frameworks can lead to operational delays, legal complications, or financial penalties. Mohammed Al-Zubi, managing partner and founder of Nama Ventures. Supplied Paula Tavangar, chief investment officer of Injaz Capital, echoed this, noting that 'compliance with Saudi-specific regulations, including licensing, Saudization requirements, and sector-specific rules, is also essential from day one.' She emphasized that while Gulf Cooperation Council countries may appear similar, 'successfully entering the Saudi market has its own very unique economic landscape, regulatory environment, and consumer behavior.' The Ministry of Investment has streamlined processes to encourage foreign investment, but businesses must still comply with industry-specific guidelines and labor laws, including Saudization policies, which mandate hiring a certain percentage of nationals from the Kingdom. Beyond legal compliance, establishing local credibility is crucial. Saudi businesses often prefer working with entities that demonstrate a long-term commitment to the market. Tavangar stressed that 'building an on-the-ground presence in Saudi Arabia is not optional — it's central to gaining traction.' She added that 'Saudi stakeholders generally prefer working with companies that are physically present, engaged locally, and committed to contributing to the Kingdom's Vision 2030 goals.' The regulatory framework is evolving to attract foreign startups, with the Saudi government offering multiple incentives to support early-stage businesses. 'The Saudi government actively supports foreign startups through initiatives like the National Transformation and Development Program, which can assist with relocation logistics and business setup,' Tavangar said. This means startups should not view Saudi Arabia as a short-term expansion play but rather as a core component of their growth strategy. Paula Tavangar, chief investment officer of Injaz Capital. Supplied Financial preparedness Expanding into Saudi Arabia requires significant financial resources. From securing office space to investing in marketing and hiring local employees, the costs can add up quickly. Startups must assess their financial stability before making the move, ensuring they have the necessary capital to sustain operations during the initial stages of expansion. Tavangar pointed to the financial realities of entering the Kingdom. 'Financial readiness is key. Costs associated with setting up in Saudi — such as obtaining a foreign investment license through MISA, setting the entity, renting office space and hiring local talent — can add up quickly,' she said. Setting up operations in the Kingdom comes with significant financial obligations that startups must prepare for. These include licensing, incorporation costs, and office rental, which can be partially offset through available public initiatives. 'There are multiple low-cost co-working space options in addition to free spaces through accelerator programs,' Tavangar noted. She also highlighted the importance of leveraging public-private support schemes. 'Again, NTDP has a program that can sponsor 50 percent of employee salaries for the startups that require the support,' she said, underscoring the need for early-stage companies to budget carefully and align with available national resources. In an interview with Arab News, Ahmed Mahmoud, CEO of DXwand, a startup that has recently expanded to Saudi Arabia, stressed the importance of financial resilience. 'A startup should have strong financial stability, consistent revenue growth, and a proven market presence. It should be well-funded with enough capital to sustain operations for at least a year after expansion,' he explains. Mahmoud encourages startups to evaluate their expenses closely and tailor their pricing models to remain competitive within Saudi Arabia's evolving market landscape. 'To succeed in Saudi Arabia, startups must carefully assess their unit economics and cost structures. A strong balance between customer lifetime value and customer acquisition cost is crucial for long-term profitability,' Mahmoud said. Other financial considerations include managing operational expenses such as office leases, logistics, and employee salaries. Localization costs — such as translating marketing materials into Arabic, adapting services to cultural preferences, and ensuring compliance with local regulations — should also be factored into financial planning. Talent acquisition One of the challenges of expanding into Saudi Arabia is finding and retaining the right talent. Al-Zubi advises startups to take a strategic approach to talent acquisition. 'While Vision 2030 initiatives are fostering a skilled workforce, specialized tech and startup talent can still be limited. Startups should leverage local hiring programs, university partnerships, and experienced regional hires,' he said. Hiring Saudi nationals is not only a regulatory requirement in certain sectors but also a competitive advantage. Local employees bring market insights, cultural understanding, and access to networks that can help businesses establish stronger connections. 'Founders should hire local leadership, engage with stakeholders, and spend time in-market. Remote operations rarely succeed in Saudi Arabia,' he explains. Market localization Saudi Arabia is a relationship-driven market where trust and personal connections play a significant role in business success. Startups that fail to adapt to local consumer behavior and cultural expectations may struggle to gain traction. Al-Zubi highlights the importance of cultural adaptation. 'Startups must localize offerings, marketing, and operations to fit local consumer behavior. Strong local partnerships can accelerate trust and market entry,' he said. Mahmoud also underscored the importance of branding and culturally relevant marketing strategies. 'Localization isn't just about language — it includes pricing models, payment preferences, and customer experience. Businesses that invest in culturally adapted services enhance trust and engagement,' he noted. Tavangar emphasized that 'the local context is very important' adding: 'While in the UAE we observe very successful implementation of business models that worked in the west, Saudi Arabia has a different business environment, very tailored to the local demand and culture.' Strategic partnerships Establishing partnerships with local businesses, distributors, and investors can accelerate market entry and growth. Saudi companies prefer working with brands that demonstrate commitment and credibility, and forming strategic alliances can help startups gain that trust. 'Building local partnerships with investors and distributors isn't just helpful — it's a game-changer. It boosts credibility and makes market entry smoother,' Mahmoud said. Tavangar added: 'A local partner who has 'skin in the game' can significantly aid in navigating both the cultural and business landscapes.' Ahmed Mahmoud, CEO of DXwand. Supplied Leveraging digital transformation As Saudi Arabia accelerates its digital transformation, startups leveraging advanced technologies like artificial intelligence, automation, and cloud infrastructure are well-positioned to gain a market advantage. The Kingdom's investment in smart cities, fintech, and e-commerce presents opportunities for tech-driven companies to scale quickly. Mahmoud highlights the importance of embracing technology as part of a long-term strategy. 'With Saudi Arabia going through a rapid digital transformation, there's a huge opportunity in e-commerce and fintech, both of which align with Vision 2030's innovation goals,' he said. Additionally, businesses that set up a regional headquarters in the Kingdom can benefit from government incentives, including potential tax breaks and funding support. By taking a long-term approach and investing in local partnerships, cultural adaptation, and digital innovation, startups can position themselves for sustainable growth in one of the Middle East's most dynamic economies. As Al-Zubi said: 'Startups that immerse themselves in the market, build strategic partnerships, and adapt to Saudi dynamics will find the most success.'
Wamda
12-02-2025
- Business
- Wamda
PIESHIP raises $2.1 million seed led by Nama Ventures
Saudi Arabia-based logistics startup PIESHIP has closed its seed funding round of $2.1 million, led by Nama Ventures, with participation from SEEDRA Ventures and angel investors. Founded in 2023 by Nasser Alharthi, Musaed Al-Amri, and Mohammed Mohsen, PIESHIP provides its clients with warehouse management solutions, using an app for delivering shipments, and technical solutions for logistics services. This investment will support PIESHIP's expansion plans in the Saudi market. A year ago, PIESHIP closed an undisclosed pre-Seed investment round from the existing investors, including Nama Ventures and SEEDRA Ventures. Source: EntArabi PIESHIP, a leading smart logistics and last-mile solutions provider, has successfully closed its SEED funding round worth SAR 7.875 million ($2.1 million). The round was led by Nama Ventures, with participation from several prominent investment funds, including SEEDRA Ventures and angel investors. This investment will support PIESHIP's expansion plans in the Saudi market. The company aims to expand its operations into seven major cities, including Jeddah, Makkah, Madinah, Dammam, Al Khobar, Qassim, and Khamis Mushait. Additionally, PIESHIP plans to increase the number of registered drivers in its network to 5,000 captains, enhancing delivery efficiency and providing more flexible logistics solutions. Nasser Alharthi, Co-founder and CEO of PIESHIP, stated:'Closing our SEED funding round, led by Nama Ventures, reflects investors' confidence in our vision and strategy. We will continue investing in the development of our logistics technologies, particularly AI-powered solutions to manage our driver network. This will allow us to offer faster and more efficient services, ultimately enhancing customer experience and last-mile delivery operations.' Mohammed Al-Zoubi, Founder and Managing Partner at Nama Ventures, commented:'At Nama Ventures, we believe in supporting startups with a clear vision and the potential to make a significant impact. PIESHIP has demonstrated its ability to provide innovative solutions for the last-mile logistics sector, and we are proud to lead this investment round, contributing to the company's continued success and expansion.' In the coming months, PIESHIP will focus on: Enhancing user experience through improved tracking and communication systems. Launching new services to support the logistics sector. Developing advanced AI solutions for fleet management and data analysis, aimed at improving delivery efficiency and reducing transit times. Founded in late 2023 by Nasser Alharthi, Musaed Al-Ameri, and Mohammed Mohsen, PIESHIP is a tech-driven platform specializing in last-mile delivery management. The company offers an intelligent system for shipment analysis, driver routing, and route optimization, leveraging artificial intelligence.
