Latest news with #SauceCapital
Arab News
29-03-2025
- Business
- Arab News
MENA startup sector ends Q1 with momentum
RIYADH: The Middle East and North Africa's startup ecosystem is ending the first quarter of 2025 with significant momentum, marked by high-value deals, strategic acquisitions, and international expansion plans across multiple industries. From fintech innovation to food and beverage consolidation and media sector growth, these developments underscore the region's evolving startup landscape and its increasing global influence. Nayla Finance secures $4 million to transform SME lending in Saudi Arabia Riyadh-based fintech startup Nayla Finance has raised $4 million in a seed funding round led by Sanabil Venture Studio by Stryber. The investment will support the company's mission to address Saudi Arabia's substantial small and medium-sized enterprises financing gap, estimated at $30 billion. The funding includes $2.7 million allocated for micro-business debt financing. Nayla Finance is deploying artificial intelligence and alternative data sources to develop credit scoring for small businesses, with particular emphasis on the food and beverage, e-commerce, and retail sectors. The firm's co-founder and CEO, Shaqran Alyahya, emphasized the company's distinctive approach, saying: 'We are building what others hesitate to — empowering important drivers of the Saudi economy with financial solutions designed for their reality.' The startup's digital-first platform eliminates traditional banking hurdles by offering streamlined applications, real-time risk assessment, and sector-specific financial products. Nayla's co-founder and chief risk officer, Khalid Naili, added: 'By leveraging technology, alternative data, and advanced risk models, we are redefining creditworthiness and unlocking financing for businesses that drive the economy.' The firm leverages data-driven credit evaluation and a fully digital platform to streamline financing access for small businesses, eliminating the bureaucratic hurdles associated with conventional banking systems. Epik Foods acquires Sauce Capital in $15 million deal UAE-based Epik Foods has made a strategic move to strengthen its position in the Gulf Cooperation Council's food and beverage sector by acquiring Abu Dhabi's Sauce Capital. The transaction was supported by $15 million in fresh funding from Ruya Private Capital. The acquisition creates one of MENA's largest F&B operators, combining 75 brands under a single umbrella. It significantly enhances Epik's presence in Saudi Arabia through Sauce Capital's established operations in the Kingdom. The expanded group now operates across 50 locations in the UAE, Saudi Arabia, and Oman, encompassing quick-service restaurants, digital food brands, meal kits, and catering services. NKN Media secures $9.5 million for global growth Dubai-based NKN Media has announced a significant funding milestone, having secured 35 million Emirati dirhams ($9.5 million) with plans to raise an additional 50 million dirhams. This capital injection will fuel the company's ambitious international expansion strategy, reflecting the growing influence of MENA-based media enterprises. NKN Media is extending its successful Dubai Property Expo to leading global markets, including London, Turkiye, New York, and Moscow. It is also launching several new intellectual properties, including the Ultimate Realty Awards in May, the third season of Icons of the UAE in September, and the Majlis Premium startup fundraising forum in October. Growing at an excellent pace, our expansion reflects the demand for high-quality media experiences. Abdul Majid Khan, Group CEO of NKN Media Additionally, the company is expanding its presence in the inflight media sector, building on the success of its Spice Route magazine to capture premium travel audiences worldwide. Group CEO of NKN Media, Abdul Majid Khan, said that the company was at a 'defining moment in its journey.' He added: 'Growing at an excellent pace, our expansion reflects the demand for high-quality media experiences. With our recent success, we are not only scaling our flagship events but also venturing into new markets and media verticals.' According to the CEO, the firm's focus remains on 'delivering impactful content and world-class events that drive business growth.' He further noted that the next phase of NKN Media expansion would be about scale, innovation, and global reach. The company benefits from partnerships with major networks, including India Today, Republic TV, and NDTV, along with operations in seven countries across the Middle East, Asia, and North America. EHC Investment acquires Al-Fanar Gas Group In a notable deal for the UAE's energy sector, EHC Investment, through its energy arm Emirates International Gas, has completed the full acquisition of Al-Fanar Gas Group, Abu Dhabi's largest gas distributor and maintenance provider. This strategic move significantly strengthens EHC's position in the UAE's evolving energy landscape. The acquisition combines Al-Fanar Gas Group's 30 years of market experience with EIG's resources and vision, creating a powerhouse in gas distribution and infrastructure services. Ali Al-Gebely, managing director and board member of EHC Investment, said: 'This acquisition will allow us to strengthen that commitment while unlocking new avenues for growth and innovation.' He added: 'Together, we can utilize our combined capabilities to expand our reach and to pioneer next-generation solutions that meet the dynamic demands of our clients and contribute to the nation's energy ambitions.' The deal aligns with the UAE Energy Strategy's goals of infrastructure modernization and operational efficiency enhancement.
Zawya
27-03-2025
- Business
- Zawya
UAE's Epik Foods acquires Sauce Capital after securing $15.5mln
Epik Foods, a UAE-headquartered F&B company that operates dozens of brands in the GCC, has acquired Abu Dhabi-based food group Sauce Capital after securing nearly $15 million in fresh funding. The investment brings 15 additional brands to the company's portfolio, bringing the total count to 75, and strengthens its presence in Saudi Arabia and Abu Dhabi. Sauce Capital has a strong presence in Saudi Arabia. The company had secured $15.5 million from Ruya Private Capital, a fund managed by private credit firm Ruya Partners. Epik Foods operates various quick service dine-in restaurants, digital brands, meal kits and meal plans, hotel/gym partnerships and a catering division. It has presence in 50 locations across the UAE, Saudi Arabia and Oman. (Writing by Cleofe Maceda; editing by Seban Scaria)
Zawya
26-03-2025
- Business
- Zawya
Epik Foods acquires Sauce Capital
UAE: Epik Foods, the dynamic UAE-born F&B group has announced the acquisition of Sauce Capital, a prominent Abu Dhabi-based food group with a strong presence in Saudi Arabia. This milestone acquisition brings 15 new brands under the Epik Foods umbrella, reinforcing the group's commitment to expanding its regional footprint and introducing diverse dining experiences. The acquisition marks a significant step in Epik Foods' ongoing journey to build a portfolio of innovative, customer-focused concepts that resonate across the region. The acquisition follows Epik Foods' successful securement of $15.5 million in private capital funding from Ruya Private Capital I, LP, a fund managed by Ruya Partners. This funding laid the groundwork for Epik Foods' strategic expansion plans, enabling this key milestone and fueling its vision of becoming a dominant force in the Middle East's food and beverage landscape. Sauce Capital's portfolio of beloved brands, developed over the past four years, complements Epik Foods' offerings by filling gaps in specific cuisines and dining formats. The acquisition of Sauce Capital aligns with Epik Foods' long-term vision of building a robust portfolio of customer-centric brands while driving growth in key markets, positioning it as a cornerstone of the group's expansion strategy. The addition of Sauce Capital's standout concepts, including Egg Bun, Sliced Pizza, Buwagyu, and Chic Flic to name a few, brings the total number of brands under the Epik Foods umbrella to 75, spanning both dine-in and delivery. The acquisition also enables Epik Foods to strengthen its presence in Saudi Arabia and Abu Dhabi, areas where Sauce Capital has already established a significant foothold. The transition will be seamless, with Sauce Capital's founding team remaining in place to continue leading their brands under the new structure. Khaled Fadly, CEO and Co-founder of Epik Foods, said 'Epik Foods' acquisition of Sauce Capital marks a significant step in our journey to redefine the F&B landscape in the UAE and Saudi Arabia. With Sauce Capital's innovative concepts, strong customer focus, and aligned values, we're excited to integrate their expertise and brands into our ecosystem while maintaining their unique identities.' Saeed Halabi, CEO and Co-founder at Sauce Capital, said 'Joining forces with Epik Foods is a natural progression for Sauce Capital. From day one, we've focused on creating brands that are as customer-centric as they are innovative, and this partnership is rooted in shared values, a commitment to quality, and a focus on the customer experience. Becoming a part of Epik Foods through this acquisition gives our brands the platform to grow and thrive across the region while staying true to the ethos that built them.' The acquisition positions Epik Foods for continued growth in the highly competitive F&B sector reinforcing its commitment to expanding its presence in key markets and introducing new, innovative dining concepts. Sauce Capital's brands will play a pivotal role in these efforts, with plans to launch them in untapped areas across the UAE and Saudi Arabia. About Epik Foods Epik Foods emerged as a dynamic F&B group that operates a range of dining experiences through its multiple brands, spanning dine-in locations, digital concepts, meal plan services, and catering services. With over 75 brands and 50 locations across the UAE, Saudi Arabia, and Oman, Epik Foods aims to elevate customers' culinary experience and make every meal memorable. The F&B group is dedicated to unwavering quality, continuous innovation, and creating exceptional culinary journeys across the region.
