NymCard, a fintech platform that operates across more than 10 countries in the MENA region, has successfully secured $33 million in its Series B funding round. This significant investment was spearheaded by QED Investors, which marks their first major funding move in the Gulf region. Participating in this funding round were several existing investors, including...
Sovereign wealth funds (SWF) in the Gulf region are experiencing significant growth, with the United Arab Emirates (UAE) and Saudi Arabia leading this expansion. A recent report from Deloitte Middle East highlights that total assets under management for global SWFs reached $12 trillion by the end of 2024 and are projected to rise to $18...
Abu Dhabi’s Lunate, an asset management firm with $105 billion in assets, has launched a new venture named Axight that will focus on private equity deals in the Asia-Pacific region. This initiative aims to increase Lunate’s exposure to faster-growing markets, as revealed by sources familiar with the matter who requested anonymity due to the confidential...
UAE-based gametech startup PlaysOut has successfully raised US$7 million in a seed funding round, which has resulted in a company valuation of US$70 million. This funding will help PlaysOut enhance its offerings and expand its market presence. The investors participating in this funding round include notable names such as OKX Ventures, KBW Ventures, and Pacific...
Yango Group, a global technology firm, has introduced Yango Ventures, a corporate venture fund aimed at empowering young entrepreneurs across high-growth regions, including LATAM, Sub-Saharan Africa, and MENAP. This initiative is designed to boost local innovation and entrepreneurial growth by offering both capital and access to Yango Group’s extensive experience and network, enabling startups to...
NymCard, the only embedded finance platform operating in over 10 countries across the MENA region, has successfully raised $33 million in its latest Series B funding round. This investment was led by QED Investors, marking their largest investment in the region and the first in the Gulf, which highlights the increasing global confidence in MENA’s...
Abu Dhabi’s renewable energy company, Masdar, is in advanced negotiations to acquire a 49.9% stake in a solar portfolio managed by the Spanish power utility Endesa for approximately $200 million. The deal involves a solar portfolio with a capacity of around 450 megawatts and is expected to strengthen the existing partnership between the two companies....
MENA Analytics, a market research and data company based in Palestine, has received an investment from Ibtikar Fund, the only venture capital fund in Palestine. This funding is aimed at supporting MENA Analytics’ plans to expand its operations into Jordan and Saudi Arabia. The company has already established a strong presence in Palestine and is...
Ninety One Plc is actively buying stocks from the United Arab Emirates as investors seek alternatives that are less vulnerable to the ongoing trade war initiated by former President Donald Trump. The firm’s emerging-markets equity team, which oversees $11 billion in assets, is particularly favoring the UAE for its “uncorrelated markets” in relation to U.S....
Ras Al Khaimah (RAK) is increasingly becoming a significant global investment hub, attracting businesses and luxury developers with its investor-friendly policies and stunning natural landscapes. The emirate has seen a remarkable transformation, moving from a quiet escape to a hotspot for global enterprises. In 2024, RAK recorded a 12% increase in tourism revenues, welcoming over...