Smart Medical Services (SMS), a leading digital third-party management firm specializing in HealthTech and InsurTech, has announced its participation as a platinum sponsor of the General Authority for Comprehensive Health Insurance Forum. Held under the patronage of Prime Minister Dr. Mostafa Madbouly, the event will take place on February 9, 2025, under the theme “The Pioneering Role of the Private Sector in Achieving Comprehensive and Sustainable Health Coverage.” Smart Medical Services is an Egyptian company that successfully registered its electronic program and established the Online Intelligent Platform (SMIS), which specializes in digitizing and processing both paper and electronic medical claims.…
Author: Mohamed Fathy
Waad Investment, a Saudi-based investment firm, announced at the LEAP 25 that it has secured an investment from ITHCA Group, a company created by Oman Investment Authority in 2019. The investment aims to strengthen collaboration in the fields of telecommunications, information technology, and venture capital. It also seeks to enable Saudi and Omani companies to expand into the Gulf market, supporting Saudi Arabia’s Vision 2030 and Oman’s Vision 2040. Waad Investment invests in startups from the early to the growth stages. Since its launch in 2024, it has become one of the most active investors in the MENA region, having…
T2, a leading Saudi technology services and solutions provider, has announced from LEAP25 the acquisition of a majority stake in the Saudi startup platform, Moola. The acquisition will enable T2 to enter the fintech market and expand its range of services and solutions to offer broader options to its clients within and beyond Saudi Arabia. Commenting on the acquisition, a T2 spokesperson stated: “Moola provides a comprehensive expense management platform, which will help us to expand into the financial services sector and empower our clients with its capabilities. This acquisition aligns with our expansion strategy to acquire exceptional tech products…
While the MENA region drives forward with $3 trillion in infrastructure and building projects, construction companies face a critical challenge: fragmented supply chains and inefficient procurement processes that delay projects and inflate costs. Today, BRKZ announced it has completed its Series A funding at $17M, bringing total funding to $22.5M, to scale its technology platform that’s revolutionizing how contractors source and purchase building materials. Traditional procurement in construction The funding includes an $8M Series A2 round closed in January 2025, complemented by $1M in venture debt from Capifly, following the initial $8M Series A1 round from December 2023. All existing…
WideBot AI, a leading innovator in AI solutions, products, and models, has announced a groundbreaking achievement in the Arab world. The company is now hosting its advanced GenAI model “AQL” on local cloud servers in Saudi Arabia. This is a significant first in the field of artificial intelligence in Saudi Arabia. It marks the inaugural occasion on which an AI model is hosted on local cloud servers, paving the way for new opportunities in AI applications across various sectors. “AQL” Supports Saudi Vision 2030 This initiative aligns with WideBot AI’s commitment to supporting Saudi Vision 2030, spearheaded by Royal Highness…
Saudi-based AI startup vminds.ai has successfully closed a six-figure pre-seed investment round, strengthening its ability to enhance its platform. The startup also announced its official launch. The funding round was led by strategic angel investors from the various business sectors, who believed in vminds.ai’s vision and its future impact on the digital economy. advanced technology solutions vminds.ai is developed by VEEM Solutions, an award-winning, Saudi parent company specializing in advanced technology solutions, AI tools, and modern innovations. VEEM Solutions aims to make AI tools accessible to everyone by developing cutting-edge digital solutions that integrate artificial intelligence with interactive technologies such…
In a move set to redefine financial management and operational efficiency, leading financial solutions provider Just2Pay and innovative fintech company Swypex have entered into a strategic partnership. The agreement unites Just2Pay’s cutting-edge business management systems with Swypex’s advanced payment platforms, aiming to deliver a fully integrated financial ecosystem tailored to meet the dynamic needs of modern businesses. delivering seamless transaction Under the terms of the agreement, both companies will collaborate to streamline financial operations for businesses across Egypt. The partnership focuses on delivering seamless transaction synchronization and enhanced financial management capabilities. By automating the integration of Swypex’s electronic transactions and…
Simplex, a rising startup in the field of CNC machine manufacturing, secures $13 million, as part of Saudi efforts to support and localize advanced industries within the Kingdom. huge factory Simplex will use the fund to open a huge factory which set to be built on a 20,000 square meter site in Riyadh, the Saudi capital, will be dedicated to producing advanced CNC machines. Simplex signed a Memorandum of Understanding with Saudi Arabia’s National Industrial Development Centre to establish the company’s first factory within the Kingdom of Saudi Arabia. industrial sector The announcement was made during a signing ceremony attended…
SC Ventures, Standard Chartered’s innovation, fintech investment and ventures arm, and Yabx Technologies (Netherlands) B.V., a company of Tech Mahindra (NSE: TECHM) group, a leading global provider of technology consulting and digital solutions to enterprises across industries, have signed a set of shareholder and technology collaboration agreements to formalise their joint investment in Furaha. SC Ventures has invested $ 7 million, while Yabx BV has contributed through technology transfer, resulting in a combined investment of $10 million in Furaha. Incubated by SC Ventures, and co-founded by Yustus Aribariho and Ian Fernandes, Furaha is a purpose-driven lending platform aiming to make…
Global education consultancy EDT&Partners and Egyptian skills development startup Eyouth announced a groundbreaking partnership aimed at equipping one million young people across Africa and the Middle East with essential digital skills. The collaboration, backed by a $6 million investment, will focus on training individuals aged 15 to 35 in key areas such as artificial intelligence, programming, data analysis, digital marketing, and modern pedagogy, leveraging advanced digital tools and strategic educational frameworks. Bett 2025 The initiative, unveiled at Bett 2025, the world’s leading education technology event, underscores the transformative power of technology and collaboration in shaping the future of education and…
MoneyHash, the first and leading payment orchestration platform operating in the Middle East and Africa (MEA), has secured $5.2M in pre-A funding. Flourish Ventures – a global fintech investor behind industry leaders like Chime, Flutterwave, FairMoney, and Neon – led the round, adding to its portfolio of over 100 fintech startups. Additional investors include Saudi’s Vision Ventures, Arab Bank’s Xelerate, and Emurgo Kepple Ventures. The round features the participation of Jason Gardner, founder and former CEO of Marqeta, as his first MEA investment. The round also saw continued support from existing investors COTU, RZM Investment, and Github founder Tom Preston-Werner.…
Hamilton, a protocol specializing in tokenizing Real-World Assets (RWA) on Bitcoin, closed a $1.7M pre-seed funding round led by DisrupTech Ventures. traditional finance With participation from CMS, DeSpread, Hyperithm, Core Ventures, and other strategic investors, Hamilton is bridging traditional finance with Bitcoin by making tokenized real-world assets—such as T-Bills, Sukuk, and real estate—accessible to institutions and individuals worldwide. Co-founded by Mohamed Elkasstawi and Ehab Zaghloul, seasoned blockchain and fintech innovators with extensive experience in emerging markets, Hamilton leverages Bitcoin’s unmatched security and decentralization to tokenize real-world assets. With the RWA market projected to reach $30 trillion by 2030, Hamilton is…
Talent 360, a leading provider of integrated HR solutions, is thrilled to announce the successful closure of a six-figure investment round led by C.STAR, is a prominent Saudi business development and startup ecosystem empower support. This collaboration will enable Talent 360 to expand its presence in Saudi Arabia, strengthen its role in the Kingdom’s growing business ecosystem, and introduce AI-powered HR solutions that redefine how businesses manage their talent and operations. significant progress Since entering the Saudi market in mid-2024, Talent 360 has made significant progress, acquiring clients across diverse industries and establishing itself as a trusted partner for businesses.…
“Abjjad,” the leading e-reading platform in the Arab world, announced new leadership changes aimed at strengthening its ambitious growth and expansion strategy. The changes included the promotion of Eman Hylooz, the founder, to the position of Executive Chairwoman, and the appointment of Dr. Sally Elakkad as the new Chief Executive Officer. new phase of success The recent decisions came 12 years after Abjjad’s founding, in a move aimed at amplifying the app’s leadership and guiding it towards a new phase of success and innovation to serve Arab readers worldwide. Eman Hylooz is the founder of Abjjad, the world’s largest Arabic…
Sigma Capital, a United Arab Emirates-based Web3 venture fund, announced the launch of its $100 million blockchain startup fund to help propel firms building in decentralized finance aka DeFi, blockchain infrastructure, real-world asset tokenization, gaming, and the metaverse. early-stage projects The fund will focus on early-stage projects, while actively managing a portfolio of liquid tokens and high-yield DeFi strategies to optimize its portfolio performance. “We envision a digital economy that is more open, inclusive, and innovative,” said CEO and Managing Partner Vineet Budki, in a statement. “This fund empowers startups with capital, equips them with access to our exclusive network…
Raseedi, a leading fintech player serving Egypt’s millions of underbanked masses through its daily fintech app, has acquired Kashat, which in its role owns Pharos Microfinance S.A.E, a subsidiary of Kashat, in an equity deal to broaden its product offerings and introduce instant loans. The acquisition The acquisition builds on Raseedi’s mission to introduce underbanked masses who have no previous fintech experience or credit history through its unique daily stickiness approach. By providing masses with a dialer app to make cheaper calls, Raseedi users open the app at least 200 times/month to make calls and slowly introduces them to online…
Network International (Network), a leading enabler of digital commerce in the Middle East and Africa, has partnered with Money Fellows, the leading money circles app, to power a new solution that will leverage its best-in-class payment functionality. Digital Payments as a Service Under the partnership, Network will provide Money Fellows with its ‘Digital Payments as a Service’ platform with value added services including advanced fraud prevention, fully secure payment functionality, as well as a full suite of back office managed services. This platform will enable Money Fellows to enhance the app’s versatility and user experience. Utilising its pan-regional experience, Network…
Egypt’s Information Technology Industry Development Agency (ITIDA) has launched ITIDA Gigs, a new initiative designed to enhance the freelancing skills of young Egyptians. The program targets training and equipping 20,000 university students and fresh graduates, empowering them to succeed in the freelance market by improving their capabilities and increasing their chances of securing freelance opportunities. digital freelance The initiative comes in partnership with EYouth, an Egyptian EdTech startup with a strong footprint across the Middle East and Africa. ITIDA Gigs is open to young people aged 18 and above with a good understanding of one or more IT-related fields, including…
PayMint, a leading financial technology company, has announced that it has obtained final approval from the Central Bank of Egypt to launch its first Meeza prepaid cards in partnership with Abu Dhabi Islamic Bank – Egypt (ADIB-Egypt). flexible solutions This milestone aligns with the bank’s continuous efforts to collaborate with FinTech companies to provide flexible solutions that contribute to advancing financial inclusion in line with the vision of the Egyptian government and the Central Bank of Egypt. The initiative supports the transition towards a cashless society, offering comprehensive digital solutions that meet customers’ needs. The new card will allow PayMint…
EdVentures, the leading EdTech-focused corporate venture capital firm in MENA, has announced six-digit investments in two promising EdTech startups through its innovative EdTech Ventures Studio (EDVS) program. This new funding expands EdVentures’ portfolio to a total of 24 startups. Launched earlier this year in partnership with the Challenge Fund for Youth Employment (CFYE), the EDVS program aims to accelerate the growth of the EdTech ecosystem in Egypt and the broader Middle East. two newly funded companies The two newly funded companies, Schoolz and Ibn Sina Training Academy, were chosen from a competitive pool of ten startups in the inaugural EDVS…