Latest news with #Sadq
Arab News
19-04-2025
- Business
- Arab News
MENA startup funding drops 76% in March amid pressures
RIYADH: Startup investment in the Middle East and North Africa region fell sharply in March, with total funding declining 76 percent month on month to $127.5 million across 28 deals, down from $530 million in February. The decline — observed even after excluding debt financing from both months — reflects broader economic uncertainty stemming from ongoing US trade tensions with global partners. These geopolitical developments have impacted key regional economies, contributing to a 50 percent year-on-year drop in both the volume and value of investments, according to Wamda's monthly report. February's funding surge was largely driven by major startup events, including Saudi Arabia's flagship LEAP conference. UAE tops regional funding The UAE retained its lead in regional startup funding, securing $104.4 million across 14 transactions. Egypt ranked second with $11.6 million from four deals, followed by Saudi Arabia, which raised $8 million through five startups. Despite the March slowdown, the first quarter saw robust activity, with MENA startups raising $1.5 billion — marking a 244 percent increase compared to the same period in 2024. Fintech leads Q1 surge, SaaS absent for 2nd month Fintech remained the dominant sector, attracting $82.5 million across 10 deals in March alone. The sector accounted for over $1 billion in the first quarter funding across 36 startups, cementing its role as a top investment magnet since 2021. Healthtech and artificial intelligence followed, raising $16 million and $14 million respectively. In contrast, software-as-a-service, or SaaS, startups failed to secure funding for the second consecutive month. Early-stage companies captured 70 percent of March funding, amounting to $58 million, while later-stage firms raised $46 million, including three Series B rounds. Debt financing also declined sharply, comprising just 12.5 percent of total monthly funding. Business-to-business startups continued to attract the bulk of investor attention, raising $97 million, while business-to-consumer ventures brought in $24 million. Gender funding gap widens; investor caution rises No female-founded startups received funding in March — a significant setback for gender equity in the region's entrepreneurial landscape. Male-founded ventures secured $113 million, with the remainder going to mixed-gender founding teams. The broader investment slowdown is expected to prompt increased investor caution, with a tilt toward later-stage startups that have demonstrated resilience amid macroeconomic headwinds, Wamda noted. Sectors tied to global trade — such as logistics, mobility, and e-commerce — may face continued challenges as new alliances and shifting energy dynamics reshape the global economic order. However, adaptable startups could benefit from emerging opportunities, the report added. Sadq raises $1.5m to expand digital signature platform Saudi Arabia-based Sadq, a digital signature and document authentication platform, has raised $1.5 million in a pre-Series A round led by X by Unifonic Fund. Other investors, including strategic backer Unifonic, also participated. Founded in 2022 by Abdullah Al-Lahuo and Salem Al-Badawi, Sadq offers legally compliant digital solutions for secure document management and plans to use the funding to expand its presence across Saudi institutions. TruBuild secures $1m to fuel AI-powered contech expansion Saudi construction tech startup TruBuild has raised $1 million in a seed round led by Wa'ed Ventures and Dar Ventures, with support from Plug & Play Ventures, OQAL, Taz Investment, and several angel investors. Founded in 2023 by Bisrat Degefa and Sari Sabban, TruBuild uses AI to reduce inefficiencies and improve collaboration in construction projects. The funding will support product development and expansion within and beyond Saudi Arabia. Seesaw acquires Little Thinking Minds US-based edtech company Seesaw has acquired Jordan's Little Thinking Minds for an undisclosed sum. Founded in 2004 by Lamia Tabbaa and Rama Kayyali, Little Thinking Minds specializes in Arabic literacy tools and is one of the region's prominent female-founded edtech startups. Seesaw, established in 2007, develops AI-powered learning tools and digital curricula. The acquisition will integrate Seesaw's interactive tech with Little Thinking Minds' Arabic language expertise. Dubizzle Group acquires Property Monitor Dubai-based classifieds platform Dubizzle Group has acquired UAE's Property Monitor, a real estate analytics firm, for an undisclosed amount. Founded in 2014, Property Monitor provides valuation and market intelligence services for real estate stakeholders. The acquisition supports Dubizzle's strategy to expand offerings across its platforms Bayut and dubizzle. It follows Dubizzle's February acquisition of Egypt's online car marketplace Hatla2ee. DPI takes over Egypt's Nclude fintech fund management UK-based private equity firm Development Partners International has assumed management of Egypt's fintech fund Nclude, previously overseen by Global Ventures. Launched in 2022, Nclude closed a $110 million round that September and has invested $28 million across nine startups, including Partment, Khazna, and Paymob. DPI will advise through a dedicated Egypt-based team. With nearly $850 million invested in Egypt over the past decade, the firm brings significant experience in supporting digital transformation. AIREV receives strategic backing from Venturewave Capital UAE-based artificial intelligence firm AIREV has secured investment from Ireland's Venturewave Capital to accelerate the growth of its AI operating system 'On-Demand.' The capital will enable AIREV to expand beyond the UAE and Ireland and explore new markets. The investment reinforces its ambition to scale as a leading AI player in the Gulf. The investment reinforces AIREV's position to scale as an AI company in the Gulf region. viAct raises $7.3m Series A to advance industrial AI Hong Kong-based AI startup viAct has closed a $7.3 million Series A round led by Venturewave Capital, with participation from Singtel Innov8, Korea Investment Partners, and the PolyU Entrepreneurship Investment Fund. The firm develops AI models for hazard prediction and workforce safety in high-risk sectors. viAct plans to expand its presence in the Middle East, especially Saudi Arabia, and grow its engineering and sustainability teams globally.
CairoScene
16-04-2025
- Business
- CairoScene
Saudi-Based Sadq Raises $1.46M to Expand E-Signature Services
Sadq plans to expand its secure digital signature platform across Saudi Arabia's growing digital trust ecosystem. Apr 16, 2025 Sadq, a Riyadh-based provider of digital signatures and workflow documentation solutions, has raised $1.46 million (SAR 5.5 million) in a Pre-Series A round led by X by Unifonic, the early-stage venture arm of Unifonic. The round included participation from other strategic investors as the company looks to deepen its reach in Saudi Arabia's evolving digital trust sector. Founded in 2022 by Abdullah Al-Lahou and Salem Al-Badawi, Sadq offers electronic signature tools that comply with local digital trust standards and are designed to streamline documentation processes for businesses and government entities. The startup gained significant traction after securing a Digital Trust Services license from the Saudi Digital Government Authority in 2023—a key credential enabling it to operate as a verified provider in the Kingdom's rapidly digitising public and private sectors. With this latest investment, Sadq aims to scale its infrastructure, enhance security features, and improve system performance through technologies such as auto-scaling architecture. These upgrades are intended to support increased demand as more institutions transition to paperless workflows under Saudi Arabia's Vision 2030 digital transformation agenda.
Zawya
16-04-2025
- Business
- Zawya
Saudi digital signature platform Sadq raises $1.46mln funding round
Riyadh – Sadq, a Saudi platform for digital signatures and integrated workflow authentication solutions, has secured SAR 5.50 million in a Pre-Series A funding round, according to a press release. The fundraising transaction was led by X by Unifonic Fund, with participation from a group of investors and a strategic investment from Unifonic. The investment reinforces Sadq's position in the Kingdom's fast-growing digital authentication sector. Founded in 2022 by Abdullah Allahuo and Salem Al Badawi, Sadq has emerged as a trusted name in the Kingdom's digital transformation landscape. Abdullah Allahuo, Co-Founder and CEO of Sadq, commented: 'This investment comes at a pivotal time as Saudi Arabia witnesses a transformative shift in the digital trust landscape.' 'Obtaining the DGA license was a turning point, significantly increasing the credibility of our platform and elevating the legal weight of digitally signed documents, especially under Article 58 of the Saudi Evidence Law,' Allahuo highlighted. Ayman Hamdan, Founding Partner of X by Unifonic Fund, noted: 'As a fund, we are deeply committed to driving digital transformation by backing B2B SaaS companies that deliver mission-critical solutions for evolving markets.' Ahmed Hamdan, CEO and Co-Founder of Unifonic, noted: 'This strategic investment reinforces the role of both Sadq and Unifonic in shaping the Kingdom's emerging digital trust and identity ecosystem.' 'Through our close collaboration, we aim to drive innovation and set new standards for secure digital transactions across all sectors in Saudi Arabia,' Hamdan indicated. Source: Mubasher
Mid East Info
15-04-2025
- Business
- Mid East Info
Sadq Raises SAR 5.5 million in Pre-Series A Round Led by 'X by Unifonic Fund' to Accelerate Growth in the Kingdom's Digital Authentication Sector
Sadq , the leading Saudi platform for digital signatures and integrated workflow authentication solutions, has announced the successful close of its Pre-Series A funding round, raising SAR 5.5 million. The round was led by X by Unifonic Fund, with participation from a group of investors and a strategic investment from Unifonic. This investment marks a significant step in cementing Sadq's leadership and innovation in the Kingdom's fast-growing digital authentication sector. Founded in 2022 by Abdullah Allahuo and Salem Al-Badawi, Sadq has quickly emerged as a trusted name in the Kingdom's digital transformation landscape. The company first gained traction through a seed round led by Sanabil 500 in 2023 and later achieved a major milestone by obtaining the Digital Trust Services License from the Digital Government Authority (DGA) — a regulatory breakthrough that elevated Sadq's legal credibility and enabled its adoption across public and private sectors. 'This investment comes at a pivotal time as Saudi Arabia witnesses a transformative shift in the digital trust landscape,' said Abdullah Allahuo, Co-Founder and CEO of Sadq. 'It enables us to enhance our technology, forge strategic partnerships, and attract top-tier talent — reinforcing our position as a key provider of secure and legally recognized digital signature solutions. Obtaining the DGA license was a turning point, significantly increasing the credibility of our platform and elevating the legal weight of digitally signed documents, especially under Article 58 of the Saudi Evidence Law.' Ayman Hamdan, Founding Partner of X by Unifonic Fund , added: 'Sadq is uniquely positioned to lead the digital trust ecosystem in Saudi Arabia. The company holds tremendous potential to transform the way digital authentication and signatures are managed. Through this funding round, we are proud to support Sadq's journey as it scales its service offerings, strengthens its market presence, and innovates across the digital trust space. As a fund, we are deeply committed to driving digital transformation by backing B2B SaaS companies that deliver mission-critical solutions for evolving markets.' Salem Al-Badawi, Co-Founder and CTO of Sadq, said: 'We're proud of how far we've come. This new funding will allow us to further strengthen our robust, multi-layered technical infrastructure, enabling us to scale with agility and respond efficiently to growing demand. We've also integrated advanced auto-scaling systems, portable and consistent deployment environments, and global-grade security protocols — all of which ensure our platform is resilient, reliable, and secure against cyber threats. Our partnership with Unifonic will help us continue expanding our service portfolio in the digital authentication space.' Ahmed Hamdan, CEO and Co-Founder of Unifonic , noted: 'This strategic investment reinforces the role of both Sadq and Unifonic in shaping the Kingdom's emerging digital trust and identity ecosystem. Through our close collaboration, we aim to drive innovation and set new standards for secure digital transactions across all sectors in Saudi Arabia.'
Zawya
15-04-2025
- Business
- Zawya
Sadq raises SAR 5.5mln in pre-series A round led by "X by Unifonic Fund"
Riyadh, Saudi Arabia - Sadq, the leading Saudi platform for digital signatures and integrated workflow authentication solutions, has announced the successful close of its Pre-Series A funding round, raising SAR 5.5 million. The round was led by X by Unifonic Fund, with participation from a group of investors and a strategic investment from Unifonic. This investment marks a significant step in cementing Sadq's leadership and innovation in the Kingdom's fast-growing digital authentication sector. Founded in 2022 by Abdullah Allahuo and Salem Al-Badawi, Sadq has quickly emerged as a trusted name in the Kingdom's digital transformation landscape. The company first gained traction through a seed round led by Sanabil 500 in 2023 and later achieved a major milestone by obtaining the Digital Trust Services License from the Digital Government Authority (DGA) — a regulatory breakthrough that elevated Sadq's legal credibility and enabled its adoption across public and private sectors. 'This investment comes at a pivotal time as Saudi Arabia witnesses a transformative shift in the digital trust landscape,' said Abdullah Allahuo, Co-Founder and CEO of Sadq. 'It enables us to enhance our technology, forge strategic partnerships, and attract top-tier talent — reinforcing our position as a key provider of secure and legally recognized digital signature solutions. Obtaining the DGA license was a turning point, significantly increasing the credibility of our platform and elevating the legal weight of digitally signed documents, especially under Article 58 of the Saudi Evidence Law.' Ayman Hamdan, Founding Partner of X by Unifonic Fund, added: 'Sadq is uniquely positioned to lead the digital trust ecosystem in Saudi Arabia. The company holds tremendous potential to transform the way digital authentication and signatures are managed. Through this funding round, we are proud to support Sadq's journey as it scales its service offerings, strengthens its market presence, and innovates across the digital trust space. As a fund, we are deeply committed to driving digital transformation by backing B2B SaaS companies that deliver mission-critical solutions for evolving markets.' Salem Al-Badawi, Co-Founder and CTO of Sadq, said: 'We're proud of how far we've come. This new funding will allow us to further strengthen our robust, multi-layered technical infrastructure, enabling us to scale with agility and respond efficiently to growing demand. We've also integrated advanced auto-scaling systems, portable and consistent deployment environments, and global-grade security protocols — all of which ensure our platform is resilient, reliable, and secure against cyber threats. Our partnership with Unifonic will help us continue expanding our service portfolio in the digital authentication space.' Ahmed Hamdan, CEO and Co-Founder of Unifonic, noted: 'This strategic investment reinforces the role of both Sadq and Unifonic in shaping the Kingdom's emerging digital trust and identity ecosystem. Through our close collaboration, we aim to drive innovation and set new standards for secure digital transactions across all sectors in Saudi Arabia.' About Sadq Sadq is a Saudi-born digital signature and document authentication platform designed to meet national legal and compliance standards. Serving over 3,500 users, including major entities such as Foodics, Ninja, Maharah, and D360 Bank, Sadq addresses one of the key challenges in digital transformation: legally verifiable electronic identity. Unlike unregulated providers, Sadq integrates with Saudi Arabia's National Single Sign-On (SSO) "NAFATH" and offers government-recognized, court-admissible digital signatures. The platform provides a full-stack digital signing solution for organizations of all sizes, with robust API capabilities that integrate seamlessly into any enterprise infrastructure. Sadq serves sectors including finance, technology, healthcare, and education, with plans to expand its service offering through the use of AI-driven workflows and strategic market partnerships within Saudi Arabia. With this new funding, Sadq is poised to lead the digital documentation space across the Kingdom — building a reliable, secure foundation for the future of digital transactions. About X by UNIFONIC X by Unifonic is a seed venture fund dedicated to empowering innovative SaaS B2B startups in the MENAPT region. We combine financial investment with hands-on support, leveraging Unifonic's proven expertise as a leading SaaS scale-up. Our mission is to drive growth for high-potential startups by providing not just capital, but also strategic guidance, mentorship, and access to an extensive network of industry experts, government programs, and investors. For further information, please contact: Orient Planet Group (OPG) Email: media@ Website:
