Latest news with #RuyaPartners
Arab News
2 days ago
- Business
- Arab News
Startup Wrap — Saudi Arabia leads MENA startup activity as UAE crowns new unicorn
RIYADH: Saudi Arabia continued to dominate startup momentum while the UAE saw a new unicorn emerging amid mixed funding trends across the region at the beginning of July. Digital freight platform TruKKer, headquartered in the Kingdom, has raised $15 million in private credit investment from Ruya Partners through its Ruya Private Capital I fund. The funding will be used to support the company's expansion across regional markets, advance its proprietary artificial intelligenceI-enabled logistics platform, and further consolidate its position in the freight tech space. Founded in 2016, TruKKer operates in nine countries and connects over 60,000 transporters with more than 1,200 enterprise clients through its real-time freight marketplace. The new capital follows a $100 million pre-IPO round in 2022 led by Bahrain's Investcorp, signaling continued investor confidence in the platform's scaling potential across the Middle East and North Africa. Tarmeez Capital raises strategic round to accelerate sukuk innovation Saudi fintech startup Tarmeez Capital has raised a strategic round led by Tali Ventures, the corporate venture capital arm of stc group. Launched in 2022 by Nasser Al-Saadoun, Tarmeez Capital aims to democratize sukuk issuance, offering a digital platform that it says can process transactions at seven times the speed of traditional methods. The platform currently supports over 180,000 users and is focused on enhancing access to Islamic financial instruments. The company plans to use the funds to expand its retail sukuk offerings and support Saudi Arabia's Vision 2030 initiative, particularly in driving financial inclusion across the population. Rekaz raises $5m seed round to expand SaaS for service SMBs Riyadh-based Software-as-a-Service company Rekaz has secured $5 million in seed funding to scale its operating system for service-based small and medium-sized businesses. The round was led by COTU Ventures, with participation from Impact46, Shorooq Partners, Numrah Capital, and several angel investors. Founded in 2017 by Abdulrahman Al-Omran and Abdulaziz Al-Kharashi, Rekaz provides an integrated platform that includes scheduling, subscription management, payments, and customer engagement tools for businesses such as gyms, salons, clinics, and home service providers. The company plans to channel the new capital into deepening AI functionality, expanding across the Gulf Cooperation Council markets, and accelerating product development. Jahez Group acquires 76.56% stake in Qatar's Snoonu for $245m Saudi Arabia-listed Jahez Group has signed a definitive agreement to acquire a 76.56 percent stake in Snoonu, a leading Qatari e-commerce and delivery company, for $245 million. The transaction includes $225 million for a 75 percent equity stake in existing shares and a $20 million capital injection for a newly issued 1.56 percent stake. The acquisition marks Jahez's formal entry into the Qatari market and is expected to enhance operational synergies across logistics, on-demand delivery, and e-commerce across the GCC. Snoonu, now valued at over $300 million, will continue to operate under its own brand, led by founder and CEO Hamad Al-Hajjri, who retains a 23.44 percent stake in the company. Huspy raises $59m series B to expand in Europe and Saudi Arabia UAE and Spain-based property tech platform Huspy has raised $59 million in a series B round led by Balderton Capital, with participation from Peak XV, ExBorder Partners, and Turmeric Capital, as well as BY Ventures, Dara Management, and KE Partners. The company plans to expand into six new cities in Spain and launch operations in Saudi Arabia in 2025. Founded in 2020 by Jad Antoun and Khalid Ashmawy, Huspy facilitates over $7 billion in annual real estate transactions across its markets. It supports real estate agents and mortgage brokers with a suite of digital tools, offering high commissions and automation in property transactions. The round represents a reaffirmation of confidence by previous investors Balderton Capital and Peak XV. XPANCEO raises $250m to achieve unicorn status UAE-based deep tech company XPANCEO has raised $250 million in series A funding at a valuation of $1.35 billion, according to a press release. The round was led by Opportunity Venture, which also led the company's $40 million seed round. XPANCEO is developing a multifunctional smart contact lens that integrates augmented reality, health monitoring, night vision, and optical zoom into a lens thinner than a human hair. The funding will accelerate commercialization efforts, global expansion of R&D and product teams, and regulatory and pilot testing. The company, founded by physicist Valentyn Volkov and Roman Axelrod, is aiming to replace multiple personal devices with a single wearable form factor. BlueFive Capital closes founding round at $120m valuation UAE-based investment firm BlueFive Capital has completed its Founding Shareholders Circle round, achieving a valuation of $120 million. The round attracted 25 founding shareholders, including members of prominent GCC royal families, global institutional investors, and financial leaders from North America, Europe, and Asia, according to a statement. Founded in late 2024 by former Investcorp co-CEO Hazem Ben-Gacem, the firm has already amassed $650 million in assets under management. BlueFive Capital aims to connect institutional capital with high-growth, underrepresented markets, with a global presence across London, Abu Dhabi, and Riyadh, as well as Singapore and Beijing. Icogz raises $1.4m pre-seed to enhance AI-driven BI platform UAE-based business intelligence startup icogz has raised $1.4 million in pre-seed funding from angel investors in the UAE and India. Founded in 2018 by Amit Tripathi and Vrutika Dawda, the platform uses proprietary algorithms to mine intelligence from corporate data and deliver actionable insights. The company plans to use the capital to further develop its AI engine, Aryabot, and scale go-to-market efforts across MENA and Southeast Asia. BioSapien extends pre-series A to over $8m Health tech startup BioSapien, based in the UAE and the US, has extended its pre-series A round to over $8 million. The latest funding was led by Globivest, joining existing backers Global Ventures, Golden Gate Ventures, and Dara Holdings. Founded in 2018 by Khatija Ali, BioSapien's flagship product, MediChip, is a 3D-printed, slow-release drug delivery platform that can be affixed to tissue to minimize systemic side effects. The new capital will support R&D, product development, and regulatory expansion. Nawy acquires majority stake in SmartCrowd to expand GCC presence Egypt-based real estate tech startup Nawy has acquired a majority stake in Dubai's SmartCrowd, a regulated fractional property investment platform. The acquisition follows Nawy's recent $52 million series A round and signals the company's entry into the GCC market. SmartCrowd, regulated by the Dubai Financial Services Authority, claims to have facilitated over $110 million in transactions and distributed more than $40 million in investor returns. The acquisition expands Nawy's service offerings to include fractional ownership and positions the company as a full-stack proptech platform for the MENA region. Startup funding in MENA falls 82% in June amid investor caution Startup funding across the MENA region fell sharply in June, dropping 82 percent month on month to $52 million across 37 deals. The figure also marks a 55 percent decline compared to June 2024. Notably, 40 percent of the capital came through debt instruments, reflecting cautious investor sentiment amid global macroeconomic uncertainty, according to Wamda's monthly report. The UAE reclaimed its position as the region's top-funded market, with 13 startups raising $37 million — over 70 percent of total capital. Egypt, which led in May, dropped to second with $6.2 million raised across six deals. Tunisia followed, buoyed by a single $3.5 million seed round for water tech startup Kumulus. Saudi Arabia saw a dip, raising only $3 million across six deals. Fintech remained the leading sector, accounting for 74 percent of total capital across 10 deals. Clean tech followed due to the Kumulus deal, while Web3 attracted $2 million across two rounds. Seed stage startups led early-stage activity, raising $10.6 million, while pre-seed rounds totaled $5 million. Only one series A deal was recorded, worth $100,000. Startups with B2B models secured 78 percent of funding, while B2B2C and B2C startups lagged. Mixed-gender founding teams captured 45 percent of capital but accounted for only four deals. Women-led startups raised just $223,200.
Zawya
7 days ago
- Business
- Zawya
Saudi-based TruKKer secures $15mln from Ruya Partners
Saudi Arabia-headquartered TruKKer Holding has secured $15 million in private credit investment from SWF-backed Ruya Partners to fund its expansion across the region. The latest financing for the digital freight and logistics platform marks the sixth investment from Ruya Private Capital I. TruKKer operates a real-time, tech-driven freight marketplace that connects more than 60,000 transporters with at least 1,200 businesses across nine countries, including Saudi Arabia, UAE, Oman, Bahrain, Jordan, Turkey and Kazakhstan. The investment will boost the company's capital structure and support its goal to digitise and optimise freight and supply chain operations, according to Gaurav Biswas, Founder and CEO of TruKKer. "But this is more than capital. It's a bold endorsement of our vision - and a pivotal leap toward redefining freight for a faster, smarter and more connected region," TruKKer said on Monday. Ruya's investor base includes sovereign wealth funds, SWF-backed investment entities and public pension funds, among others. (Writing by Cleofe Maceda; editing by Seban Scaria)
Wamda
07-07-2025
- Business
- Wamda
TruKKer raises $15 million debt from Ruya Partners
Saudi Arabia-based digital freight network TruKKer has secured a $15 million private credit investment from Ruya Partners, through its flagship Ruya Private Capital I fund. Founded in 2016, TruKKer operates across 9 countries and connects 60,000+ transporters with 1,200+ enterprise clients through a real-time, AI-enabled freight marketplace. The funding will support regional expansion, tech enhancements, and further consolidation of its freight-tech leadership. In 2022, TruKKer raised $100 million in a pre-IPO round, led by Bahraini investment firm Investcorp. Press release: Ruya Partners, a leading private credit investment firm in the GCC, is pleased to announce the closing of a $15 million (SAR 55 million) private credit investment in TruKKer Holding Limited, the largest digital freight and logistics platform across the Middle East, North Africa, and Central Asia. The transaction marks the sixth investment from Ruya Private Capital I, the firm's flagship private credit fund. This financing will enable TruKKer to deepen its regional expansion, enhance technology capabilities, and further solidify its position as the region's primary freight-tech platform. Backing a Regional Freight-Tech Champion Founded in 2016, TruKKer operates a real-time, technology-enabled freight marketplace that connects over 60,000 transporters with more than 1,200 enterprise clients across 9 countries. Its platform streamlines and digitises road freight operations, offering intelligent dispatching, scheduling, and capacity optimisation at scale. TruKKer has developed proprietary tech solutions that enable thousands of truck owners and managers to connect with the region's leading manufacturers, traders, and contractors along with multiple stakeholders with complex documentation seamlessly through one network solution. 'TruKKer is a standout example of entrepreneurial innovation reshaping the logistics sector across our region,' said Rashid Siddiqi, Partner and Co-CIO at Ruya Partners. 'The company has pioneered the digital transformation of freight in a traditionally fragmented industry, driving greater efficiency, transparency, and connectivity across regional supply chains. Our investment reflects Ruya's commitment to backing high-quality businesses with long-term relevance, particularly those like TruKKer that align with national transformation priorities of Saudi Arabia and the UAE. Partnering for Long-Term Growth 'We are pleased to welcome Ruya Partners as a long-term strategic investor,' said Gaurav Biswas, Founder and CEO of TruKKer. 'Their participation adds depth to our institutional investor base and reflects continued confidence in the strength of our business fundamentals and financial profile. As we expand our footprint and product offering, this investment enhances our capital structure and supports our broader mission to digitise and optimise freight and supply chain operations across multiple logistics verticals. We are on a mission to solve the complex & simple challenges of this megasector of logistics in the most rapidly transforming region of the world. "TruKKer represents the type of high-impact, technology-driven business we seek to partner with, one that is transforming traditional industries and driving regional integration. As the sixth investment from our flagship fund and our fifth financing supporting Saudi growth, this commitment reaffirms our conviction in the Kingdom's freight-tech evolution. With this investment, Ruya Private Capital Fund I is now 90% invested, demonstrating strong deployment momentum into resilient, future-forward businesses that align with national transformation agendas." Added Omar AlYawer, Partner & Chief Capital Formation Officer at Ruya Partners.
Zawya
03-07-2025
- Business
- Zawya
ADGM-based Ruya Partners secures $55mln for fiber production plant in Saudi Arabia
Abu Dhabi Global Market (ADGM)based private credit fund manager Ruya Partners secured a $55 million (SAR 206 million) private credit investment to fund the development of an innovative hygiene nonwoven fiber production plant in Yanbu, Saudi Arabia. The transaction was completed as part of a consortium with a fund managed by a leading regional financial institution, according to a recent press release. This investment contributes to boosting the region's production capabilities in nonwoven materials amid the growing demand within the hygiene sector. It also supports the Kingdom's broader vision of industrial diversification and sustainable economic growth, in line with the Saudi Vision 2030. The funding will be used to back the construction of a staple fiber production facility owned by the Al Shair Group. The plant will be a raw material supplier to United Saudi Company (USC), the only dry-laid hygiene nonwoven manufacturer in Saudi Arabia and wholly owned by the Al Shair Group. Meanwhile, the facility will result in the culmination of a strategically important vertical integration of Al Shair's nonwoven operations, enabling the whole supply chain and all related value-added to be brought into Saudi Arabia. The operational phase is expected to commence within two years, with an initial production capacity of 30,000 metric tons. It is planned to expand this capacity to 50,000 metric tons during a subsequent phase of development, enhancing production efficiencies and meeting the region's growing market demand. Mirza Beg, Partner and Co-Chief Investment Officer of Ruya Partners, said: 'We firmly believe that this hygiene nonwoven fiber production plant will play a pivotal role in meeting the increasing regional demand and strengthening Saudi Arabia's position in this vital market.' Addressing the importance of this upstream integrated project, Talal Al Shair, Founder and Executive Chairman of Al Shair Group, said: 'The new facility will not only enhance local production capacity for hygiene nonwoven fibers but also support the Kingdom's strategic goal of industrial diversification, integration and support the circular economy under Vision 2030.' Omar Al Yawer, Partner and Chief Capital Formation Officer of Ruya Partners, commented: "This latest investment marks a meaningful milestone as Ruya Private Capital Fund I's fifth deployment and the fourth financing supporting Saudi Arabia's corporate growth. 'This collaboration highlights our continued commitment to providing strategic capital to transformative companies that are powering the Kingdom's economic diversification,' he added.
Zawya
03-07-2025
- Business
- Zawya
Ruya Partners provides $15mln private credit financing to TruKKer to accelerate regional growth
Abu Dhabi, United Arab Emirates – Ruya Partners, a leading private credit investment firm in the GCC, is pleased to announce the closing of a USD 15 million (SAR 55 Million) private credit investment in TruKKer Holding Limited, the largest digital freight and logistics platform across the Middle East, North Africa, and Central Asia. The transaction marks the sixth investment from Ruya Private Capital I, the firm's flagship private credit fund. This financing will enable TruKKer to deepen its regional expansion, enhance technology capabilities, and further solidify its position as the region's primary freight-tech platform. Backing a Regional Freight-Tech Champion Founded in 2016, TruKKer operates a real-time, technology-enabled freight marketplace that connects over 60,000 transporters with more than 1,200 enterprise clients across 9 countries. Its platform streamlines and digitizes road freight operations, offering intelligent dispatching, scheduling, and capacity optimization at scale. TruKKer has developed proprietary tech solutions that enable thousands of truck owners and managers to connect with the region's leading manufacturers, traders, and contractors along with multiple stakeholders with complex documentation, seamlessly through one network solution. 'TruKKer is a standout example of entrepreneurial innovation reshaping the logistics sector across our region,' said Rashid Siddiqi, Partner and Co-CIO at Ruya Partners. 'The company has pioneered the digital transformation of freight in a traditionally fragmented industry, driving greater efficiency, transparency, and connectivity across regional supply chains. Our investment reflects Ruya's commitment to backing high-quality businesses with long-term relevance, particularly those like TruKKer that align with national transformation priorities of Saudi Arabia and the UAE. Partnering for Long-Term Growth 'We are pleased to welcome Ruya Partners as a long-term strategic investor,' said Gaurav Biswas, Founder and CEO of TruKKer. 'Their participation adds depth to our institutional investor base and reflects continued confidence in the strength of our business fundamentals and financial profile. As we expand our footprint and product offering, this investment enhances our capital structure and supports our broader mission to digitize and optimize freight and supply chain operations across multiple logistics verticals. We are on a mission to solve the complex & simple challenges of this mega sector of logistics in the most rapidly transforming region of the world. "TruKKer represents the type of high-impact, technology-driven business we seek to partner with, one that is transforming traditional industries and driving regional integration. As the sixth investment from our flagship fund and our fifth financing supporting Saudi growth, this commitment reaffirms our conviction in the Kingdom's freight-tech evolution. With this investment, Ruya Private Capital Fund I is now 90% invested, demonstrating strong deployment momentum into resilient, future-forward businesses that align with national transformation agendas." Added Omar AlYawer, Partner & Chief Capital Formation Officer at Ruya Partners. About Ruya Partners Ruya Partners is a leading private credit investment firm based in Abu Dhabi Global Market, providing bespoke financing solutions to private sector companies across developing markets. The firm is partner-owned and specializes in flexible capital for growth, expansion, capital expenditure, balance sheet optimization, and shareholder rationalization. Ruya Partners is regulated by the Financial Services Regulatory Authority, and its investor base includes sovereign wealth funds, SWF-backed investment entities, public pension funds, and other top-tier institutional investors. Ruya is committed to supporting economic transformation across the GCC, with particular emphasis on Saudi Arabia's Vision 2030 and the UAE's We the UAE 2031 agenda. For more information, contact Ruya Partners Omar AlYawer Partner & Chief Capital Formation Officer omar@ About TruKKer Holding Limited TruKKer is MENA and Central Asia's largest digital freight network, operating across 9 countries including Saudi Arabia, the UAE, Oman, Bahrain, Jordan, Turkey and Kazakhstan. The company connects over 60,000 transporters with more than 1,200 enterprise clients across sectors such as FMCG, petrochemicals, metals, high volume commodities, construction, and retail. Its proprietary platform enables real-time freight booking, price discovery, optimization and match making of a large & fragmented capacity, strong KYC of all stakeholders, transaction monitoring, digital contract management & payments, multiparty integrations, significantly improving efficiency and sustainability in the logistics sector. TruKKer is rapidly introducing AI agents at multiple process flows within the logitech and ancillary fintech applications. TruKKer investor base includes GCC regions leading institutions including Investcorp, Mubadala Investment Company, ADQ and STV among others. For more information, contact TruKKer Amit Agarwal Group CFO
