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Daily Crunch: Cartona will use $12M Series A to expand its Egypt-based, B2B...
To get a roundup of TechCrunch’s biggest and most important stories delivered to your inbox every day at 3 p.m. PDT, subscribe here. Happy new week! Christine went on a well-deserved break, so you’ll...
View ArticleThe Fashion Kingdom, an Egyptian fashion e-commerce startup, raises $2.6M in...
The Fashion Kingdom (TFK), an Egyptian e-commerce marketplace for fashion, beauty and home accessories items, announced today that it has raised $2.6 million in seed funding led by CVentures, a...
View ArticleUS-based fintech Umba buys majority stake in Kenya’s Daraja microfinance bank
Umba, a US-based digital bank with a focus on emerging markets, has acquired a majority shareholding of Daraja, a Kenyan deposit-taking microfinance bank, for an undisclosed amount. Kenya’s monetary...
View ArticleJumia shares rise as the company’s e-commerce business revs up in Q2
African e-commerce giant Jumia reported its second-quarter financial performance today. In the wake of its financial reporting this morning, Jumia’s shares climbed sharply, gaining more than 15% in...
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YC-backed Zywa, a neobank for Gen Z, raises $3M to expand across MENA
Dubai-based Zywa, a neobank for Gen Z, plans to fuel its growth in the United Arabs Emirates (UAE), and to kick-start its expansion to Saudi Arabia and Egypt after raising $3 million seed funding at...
View ArticleEgypt’s SubsBase raises $2.4M for its subscription and recurring revenue...
The presence of various payment forms and providers is one reason why businesses in the Middle East/North Africa (MENA) region have operational challenges in managing revenue and collection. These...
View ArticleFounders of well-funded Egyptian B2B startup Capiter fired following...
Last September, Egyptian startup Capiter raised $33 million in Series A funding to compete in the country’s growing B2B e-commerce and retail space. Fast-forward a year later, the startup has laid off...
View ArticleMVP Match, a tech-talent marketplace, raises $5M from Stage 2 Capital
Tech-talent marketplace MVP Match has raised €5 million ($5 million) seed funding from Stage 2 Capital to double down its strategy for pairing companies with talent from across the globe. The...
View ArticleEgyptian venture capital firm Algebra Ventures hits first close of second...
Last April, Egyptian and MENA-focused venture capital firm Algebra Ventures announced the launch of its $90 million second fund. It was the sequel to its first: a $54 million fund invested in 21...
View ArticleEgyptian consumer money app Telda raises $20M from GFC, Sequoia Capital and...
Telda, an Egyptian consumer money app founded by ex-Swvl executive Ahmed Sabbah last April, has raised $20 million in seed funding. The fintech, in a statement, said it wants to “revolutionize finance...
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Money Fellows, an Egyptian fintech digitizing money circles, raises $31M funding
Egyptian fintech Money Fellows has raised $31 million in what it describes as the first close of its Series B investment. The round, which the startup expects to top up in the coming months, was led by...
View ArticleBlnk, a fintech that provides instant consumer credit in Egypt, raises $32M...
Credit card penetration in Egypt is low, with just over 4 million cards used in a population of more than 100 million people. As such, people in the country have little or no access to credit, given...
View ArticleEgypt’s SideUp raises $1.2M to grow its e-commerce support platform
After four years operating primarily as a logistics marketplace, Egypt’s Voo has rebranded to SideUp and transformed its strategy to offer a complete spectrum of e-commerce support services, including...
View ArticleWith $3M new funding, Egyptian startup OneOrder sets out on growth drive
OneOrder, Egypt’s supply chain solutions provider for restaurants, has raised $3 million seed funding led by Nclude, with participation from A15 and Delivery Hero Ventures. The latest funding brings...
View ArticleEgypt’s Suplyd raises $1.6M to digitize restaurants supply chain
Suplyd, a procurement platform for hotels, restaurants and catering (HoReCa) businesses in Egypt, has raised $1.6 million pre-seed funding from Endure Capital, Seedstars, Camel Ventures, Falak...
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Dubai-based accounting and financial compliance startup, Wafeq, raises $3M
In 2016, the Gulf Cooperation Council (GCC) member states signed a value added tax (VAT) agreement paving the way for the introduction of the general levy on consumption across the region. The United...
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Gameball raises $3.5M to scale its CRM platform for consumer brands
The uptake of customer relationship management (CRM) tools has grown immensely over the last few years such that the market size is expected to experience a 12.5% compound annual growth rate, and be...
View ArticleMENA VC Flat6Labs’ new fund to back startups in East, West Africa
Flat6Labs is amongst the most active VCs in Africa, having invested in more than 100 startups to date across the Middle East and North Africa (MENA) region. And now, after 11 years, the Egypt-based...
View ArticleEgyptian health tech Almouneer raises $3.6M to scale its platform for...
Obesity and prediabetes are major health concerns in Africa and the Middle East, affecting more than 40% of the population. In Egypt, 20% of adults have diabetes; the figure in Saudi Arabia is 30%. In...
View ArticleEgypt’s Mtor nabs $2.8M pre-seed for its online auto parts marketplace
Egyptian online auto parts marketplace Mtor has raised $2.8 million in pre-seed investment led by Egypt-focused venture capital firm Algebra Ventures. Other investors that participated in the round...
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