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Arab News
23-02-2025
- Business
- Arab News
MENA startups secure new investments, acquisitions across fintech, AI and e-commerce
RIYADH: Startups across the Middle East and North Africa continue to attract significant investment, with funding rounds and acquisitions shaping the region's growing tech ecosystem. From artificial intelligence infrastructure and fintech to automotive SaaS and second-hand fashion, companies are securing capital to expand operations, enhance technology, and enter new markets. Among the latest developments, UK-based AI cloud infrastructure provider Ori has secured a strategic investment from Wa'ed Ventures, the venture capital arm of Saudi Aramco, as it prepares for expansion in the Middle East. The financial terms of the investment were not disclosed. The deal follows Ori's recent deployment of Nvidia's H200 chips, positioning the company as a key AI infrastructure provider in the UK, the Middle East, and beyond. Ori, which enables large-scale AI model training and deployment, currently operates in over 20 locations across North America and Europe. With the backing of Wa'ed Ventures, Ori plans to localize its operations in Saudi Arabia, launching a regional subsidiary in Riyadh to support the country's Vision 2030 initiative. Wa'ed Ventures, a $500 million fund investing in advanced technology startups, has expanded its focus internationally since 2022 to support companies that can localize their technologies in Saudi Arabia. The fund has previously invested in AI chipmaker Rebellions and real estate fintech firm Stake. Ori recently raised £140 million ($176.8 million) and is preparing for a larger funding round in 2025. It partners with global technology firms, including Nvidia, Supermicro, and Dell, and is backed by investors such as Telefonica, NextEra Energy, and Episode 1 Ventures. Dubizzle acquires Egypt's Hatla2ee UAE-based online classifieds platform Dubizzle Group has acquired Hatla2ee, an Egyptian online car marketplace, for an undisclosed amount. The acquisition strengthens Dubizzle Group's regional presence by integrating its technology and resources into Hatla2ee's platform. Founded in 2016 by Samy Swellam, Hatla2ee provides a marketplace for buying and selling new and used cars in Egypt. Dubizzle Group, established in 2005, operates multiple classified platforms, including Dubizzle, Bayut, and Drive Arabia. The acquisition follows Dubizzle Group's purchase of UAE-based automotive media platform Drive Arabia in May 2024. MANSA raises $10m for cross-border payments MANSA, a fintech firm specializing in cross-border payments, has secured $10 million in funding to enhance its liquidity solutions. The funding includes a $3 million pre-seed round led by Tether and co-led by Polymorphic Capital, with participation from Octerra Capital, Faculty Group, and Trive Digital. MANSA also raised $7 million in liquidity funding from corporate investors, quantitative funds, and alternative investment firms. The company, co-founded by Mouloukou Sanoh and Nkiru Uwaje, leverages stablecoins to streamline liquidity management for payment providers in emerging and developed markets. Since launching in August, MANSA has facilitated $27 million in transactions, with on-chain volume surging 574 percent from August to January 2025. The new funding will support the company's expansion into Latin America and Southeast Asia. Egypt's Qme raises $3m for AI business solutions Qme, an Egypt-based B2B SaaS startup, has raised $3 million in a seed funding round led by AHOY and a group of angel investors from the Gulf Cooperation Council. Founded in 2022 by Maged Negm, Qme provides AI-driven digital infrastructure for businesses, integrating booking, queuing, analytics, and payment solutions. The investment will be used to enhance the company's technology, expand its market presence, and strengthen partnerships. UAE fintech Blum secures $5m in seed funding Blum, a UAE-based decentralized exchange, has raised $5 million in a pre-seed and seed funding round led by gumi Cryptos Capital, Spartan, No Limit Holdings, YZi Labs, and OKX Ventures. Founded in 2024 by Gleb Kostarev and Vladimir Smerkis, Blum offers token trading through gamification within a Telegram mini-app. The funding will support the platform's infrastructure development, trading enhancements, and expansion across multiple blockchain networks. Tunisia's Dabchy raises pre-Series A funding Dabchy, a Tunisia-based peer-to-peer fashion marketplace, has raised an undisclosed amount in a pre-Series A funding round led by Janngo Capital and angel investors. Founded in 2016 by Ameni Mansouri, Ghazi Ketata, and Oussama Mahjoub, Dabchy provides an e-commerce marketplace for second-hand fashion. The funding will support the startup's expansion into Egypt, broaden its product offerings, and improve its platform. The Box secures $12.5m for storage expansion The Box, a UAE-based self-storage services provider, has secured $12.5 million in debt financing led by Shorooq Partners. Founded in 2007 by Wadih Haddad, The Box offers personal storage, record management, and moving services. The new capital will enable the company to expand its storage facilities and develop flagship locations. Palm Ventures closes $30m early-stage fund Palm Ventures, a MENA-focused investment firm, has closed a $30 million fund to support early-stage startups in the region, with a portion allocated to US-based AI ventures. Founded in 2014, Palm Ventures has backed 40 startups and collaborated with government entities to drive innovation. Between 2020 and 2024, the firm invested in 20 MENA and US-based AI startups. The new fund will target AI, fintech, and business solutions, supporting digital transformation in the region. Pinewood acquires 90.9 percent of Seez for $42m Pinewood Technologies PLC has acquired a 90.9 percent stake in UAE-based automotive SaaS platform Seez for approximately $42 million. The transaction, expected to close by March 19, 2025, will be funded through a mix of cash payments and newly issued shares. Seez specializes in AI and machine learning solutions for the automotive sector, including e-commerce and omnichannel products. Pinewood, which provides automotive intelligence solutions, aims to leverage Seez's technology to enhance its agency management systems while reducing reliance on third-party AI licenses. The companies anticipate the acquisition will be earnings-accretive by fiscal year 2026. Oman Investment Authority partners with Golden Gate Oman Investment Authority has partnered with Singapore-based venture capital firm Golden Gate Ventures to strengthen Oman's startup landscape. Through its technology arm, Innovation Development Oman, OIA has become a limited partner in Golden Gate Ventures' new $100 million fund, which marks the firm's first major venture capital initiative in the MENA region. The partnership aims to attract foreign investment into Oman's technology sector while providing startups with funding, expertise, and market access. Golden Gate Ventures, which has backed around 100 companies since 2011 — including nine unicorns — views Oman as a promising innovation hub. Algerie Telecom launches $11m AI startup fund Algeria's state-owned telecom company, Algerie Telecom, has announced an $11 million investment fund to support startups in artificial intelligence, cybersecurity, and robotics. The initiative was unveiled at the third edition of Algeria's CTO Forum as part of the country's national AI and digital transformation strategy. The investment will support the establishment of 20,000 startups, alongside efforts to develop AI-focused universities, incubators, and a nationwide expansion of digital infrastructure aimed at strengthening Algeria's technological ecosystem.
ARN News Center
21-02-2025
- Automotive
- ARN News Center
Dubizzle acquires Egypt's automotive portal Hatla2ee
UAE-based classifieds company Dubizzle Group has announced the acquisition of Hatla2ee, a leading Egyptian automotive portal. The CEO of Dubizzle Group MENA, Haider Khan, said: "Egypt's dynamic automotive sector presents immense opportunities and by integrating Hatla2ee's expertise with our technology-driven ecosystem, we aim to enhance the buying and selling experience for millions of users. We are excited to welcome Hatla2ee to the group and look forward to driving innovation and value in the Egyptian market,' The CEO of Hatla2ee, Samy Swellam, welcomed the acquisition saying: 'Over the years, Hatla2ee has built a strong community of car buyers and sellers, offering a seamless and trusted platform for transactions. Joining forces with Dubizzle Group unlocks new opportunities to enhance our offerings, leverage advanced technology, and provide an even better experience for our users in Egypt. We are excited for this next chapter and the growth that lies ahead.' Hatla2ee's comprehensive services include buying and selling of both new and used cars, locally produced and imported, along with car evaluations, financing options, and real-time market pricing insights. Hatla2ee was founded in 2016, and has established itself as a trusted platform for buying and selling new and used cars in Egypt. With over 2 million unique monthly visitors across its website and mobile applications, it has become a go-to destination for car buyers and sellers.
Gulf Business
20-02-2025
- Automotive
- Gulf Business
Dubizzle Group acquires Egypt automotive platform Hatla2ee
Image credit: The Dubizzle Group has announced the acquisition of Hatla2ee, a leading Egyptian automotive platform. This strategic move aims to expand Dubizzle Group's automotive presence in one of the region's most dynamic markets. The UAE-based classifieds unicorn, Dubizzle Group, operates leading brands such as dubizzle, Bayut, and DriveArabia across the MENA region. Read: 'The acquisition of Hatla2ee is a significant milestone in Dubizzle Group's journey to further strengthen our automotive footprint across the MENA region. Egypt's dynamic automotive sector offers immense opportunities, and by integrating Hatla2ee's expertise with our technology-driven ecosystem, we aim to enhance the buying and selling experience for millions of users. We are excited to welcome Hatla2ee to the group and look forward to driving innovation and value in the Egyptian market,' said Haider Khan, CEO of Dubizzle Group MENA, commenting on the strategic move. Samy Swellam, CEO of Hatla2ee, welcomed the acquisition, emphasising that joining forces with Dubizzle Group opens new opportunities to enhance Hatla2ee's offerings, leverage advanced technology, and provide an even better experience for their users in Egypt. This can be achieved by capitalising on Hatla2ee's already established strong community of car buyers and sellers, offering a seamless and trusted platform for transactions. Hatla2ee's comprehensive services include the buying and selling of both new and used cars—locally produced and imported—along with car evaluations, financing options, and real-time market pricing insights. Founded in 2016, Hatla2ee has established itself as a trusted platform for buying and selling new and used cars in Egypt. With over 2 million unique monthly visitors across its website and mobile applications, it has become a go-to destination for car buyers and sellers.
Dubai Eye
20-02-2025
- Automotive
- Dubai Eye
Dubizzle acquires Egypt's automotive portal Hatla2ee
UAE-based classifieds company Dubizzle Group has announced the acquisition of Hatla2ee, a leading Egyptian automotive portal. The CEO of Dubizzle Group MENA, Haider Khan, said: "Egypt's dynamic automotive sector presents immense opportunities and by integrating Hatla2ee's expertise with our technology-driven ecosystem, we aim to enhance the buying and selling experience for millions of users. We are excited to welcome Hatla2ee to the group and look forward to driving innovation and value in the Egyptian market,' The CEO of Hatla2ee, Samy Swellam, welcomed the acquisition saying: 'Over the years, Hatla2ee has built a strong community of car buyers and sellers, offering a seamless and trusted platform for transactions. Joining forces with Dubizzle Group unlocks new opportunities to enhance our offerings, leverage advanced technology, and provide an even better experience for our users in Egypt. We are excited for this next chapter and the growth that lies ahead.' Hatla2ee's comprehensive services include buying and selling of both new and used cars, locally produced and imported, along with car evaluations, financing options, and real-time market pricing insights. Hatla2ee was founded in 2016, and has established itself as a trusted platform for buying and selling new and used cars in Egypt. With over 2 million unique monthly visitors across its website and mobile applications, it has become a go-to destination for car buyers and sellers.
Egypt Today
18-02-2025
- Automotive
- Egypt Today
Dubizzle Group acquires local online automotive marketplace Hatla2ee
Cairo – February 18, 2025: Dubizzle Group, the UAE-based tech powerhouse behind platforms such as Dubizzle, Bayut, and Drive Arabia, announced its acquisition of Hatla2ee, one of the country's top online car marketplaces. As part of the deal, Hatla2ee's platform will be integrated with Dubizzle's current operations in Egypt, which include Dubizzle and Bayut. However, the financial terms of the deal and the leadership lineup post-acquisition have not been disclosed, and the transaction remains subject to regulatory approvals. This is set to strengthen Dubizzle Group's foothold in Egypt's rapidly expanding automotive market and digital classifieds industry, aligning with the group's broader regional growth objectives. As Dubizzle Group integrates its state-of-the-art technology into Hatla2ee's already established and trusted platform, this acquisition is set to enhance the car-buying and selling experience in Egypt. Launched in 2016, Hatla2ee has become one of the go-to platforms for Egyptians looking to buy and sell both new and used cars. The platform has grown significantly, boasting over 2 million monthly visitors across its website and mobile app. Imran Ali Khan, CEO of Dubizzle Group, also commented on the strategic move: 'With 114 million people and a quickly evolving automotive market, Egypt is a key focus for Dubizzle Group's future growth. Egypt's automotive industry is at an exciting stage, and this acquisition reinforces our commitment to transforming the way Egyptians buy and sell cars. We look forward to working closely with the Hatla2ee team to bring innovation and growth to the sector.' Samy Swellam, CEO of Hatla2ee, also shared his enthusiasm for the acquisition, saying, 'Hatla2ee has built a strong community of car buyers and sellers over the years. Joining forces with Dubizzle Group opens up new opportunities to enhance our platform, leverage advanced technology, and create an even better experience for users in Egypt.'
