RIYADH: Start-ups in the Middle East and North Africa region are consistently winning investment deals, indicating growing momentum in the region’s start-up and venture capital space.
Among recent funding deals, Saudi proptech company Ejali benefited from a $1 million pre-seed funding round by Sanavir 500 MENA and Hambro Parks’ Oryx Fund, which included various angel investors. Investors also participated.
Founded in 2022 by Yazid Al Shamsi, Fahad Al Beda, Mohammed Al Kerewi and Khalid Al Munif, Ejari is a rent-now, pay-later company tailored to Saudi Arabia’s housing sector. provide services.
“Our vision is to democratize access to the real estate market with our solutions, allowing tenants to move from high annual fees to manageable monthly rents,” said Al Shamsi. Stated.
This service responds to the growing demand for more versatile payment methods in the domestic rental market. The newly acquired funding will strengthen Ejari’s RNPL services and accelerate her expansion into a broader range of proptech services.
Saudi venture capital invests $10 million in Ruya Private Capital I LP
Saudi Venture Capital has invested $10 million in Ruya Private Capital I LP, a private credit fund managed by Ruya Partners.
Founded in 2020 by Omar Al Yawar, Mirza Beg and Rashid Siddiqui, Ruya Partners is a private credit institution aimed at providing financing solutions to private businesses in emerging markets.
With the new cash injection, the company intends to direct the funds toward private debt products, primarily targeting small and medium-sized enterprises.
“We are honored to have the capital and trust provided by SVC and look forward to a successful collaboration,” said Al Yawar.
The fund will focus on mid-market companies, including late-stage venture capital-backed companies, both within Saudi Arabia and the wider region.
UAE proptech Nomad Homes secures $20 million in Series A round
UAE proptech company Nomad Homes has secured $20 million in a Series A extension round led by Acrew Capital.
Founded in 2019 by Damien Drap, Dan Piehler, and Helen Chen, Nomad Homes operates as a software-enhanced marketplace serving the residential real estate sector in Europe and the Middle East.
The new funding will strengthen the company’s growth trajectory and enhance its artificial intelligence-powered co-pilot capabilities for future buyers.
Additionally, the capital will support the launch of Nomad Homes Private Client, an exclusive service.
“Buyers have the same right to professional representation as sellers. It’s just not fair for one agent to represent both buyers and sellers,” says Chen, CEO of Nomad Homes.
Nomad Homes Private Client is a service for clients purchasing a single property or a portfolio of assets valued at AED 10 million ($2.7 million) or more.
UAE proptech Keyper raises $6.5 million in seed round
Another UAE proptech startup, Keyper, has successfully raised $6.5 million in a seed funding round led by Access Bridge Ventures and Vivium Holdings. The round also saw investment from venture capital firm MEVP, Jabbar Internet Group, several leading real estate companies, and an angel consortium. investors.
Created in 2022 by Omar Abu Innab and Walid Shihabi, Keyper provides a property management platform that allows tenants to manage expenses and make payments online, while investors can inject data. Get a curated real estate portfolio powered by insights.
“This seed funding will significantly accelerate our growth trajectory and enable us to deliver a seamless, transparent and data-driven real estate experience to all stakeholders,” Abu Inab said.
Since its inception, Keeper has accumulated 2,100 freehold residential units in Dubai, valued at over Dh4.5 billion, and hosted 800 landlords, the company claimed.
In May, Keeper announced its Pay Rent Now service, which aims to financially support Dubai residents. The new capital influx is expected to accelerate Keeper’s efforts in rent facilitation and advancements in property management.
Egyptian eCommerce Boost launches “Expansion into Saudi Arabia” Masterclass Series
eCommerce Boost, one of the largest e-commerce communities in the MENA region, announced the launch of a series of masterclasses aimed at helping businesses expand into the Saudi market.
Founded by digital strategist Sherif Makhlouf, the company aims to support the burgeoning online retail ecosystem with practical strategies and practical knowledge.
The series of masterclasses aims to provide e-commerce companies in MENA with an understanding of the Saudi consumer and competitive environment, as well as marketing strategies and technology solutions specific to the Saudi market.
“The Saudi market is a very attractive one, but difficult to break through if you don’t approach it correctly. Therefore, in order to fill this knowledge gap and attract more MENA e-commerce founders to Saudi, we are looking to expand the Saudi We’ve launched a master class series, “Market,” Makhlouf said.
The first masterclass will be held on October 31st, with more sessions to be published.
EV startup Neo Mobility raises $10 million in seed round
Neo Mobility, a UAE-based electric vehicle last-mile startup, has successfully raised $10 million in a seed funding round from Delta Corp Holdings, Pyse Sustainability Fund, and a group of angel investors.
Founded in 2020 by innovators Abhishek Shah and Anish Garg, Neo Mobility is dedicated to providing eco-friendly last-mile logistics services through an all-electric vehicle fleet.
With this fresh influx of capital, the startup is gearing up to expand its EV fleet to 5,000 two- and four-wheelers by 2025.
UAE Democracy Secures Private Round from Wa’ed Ventures
UAE-based insurance technology company Democrance has secured funding from Waed, the venture capital arm of Saudi Aramco, to accelerate its expansion into the Saudi market.
Founded in 2015 by Alberto Pérez, Damian Dimmich, and Michele Grosso, Democrance provides insurance companies with white-label Software-as-a-Service solutions to power digital services and streamline sales and distribution. Masu.
The company already operates in 15 countries across the Middle East, Africa, Southeast Asia and Latin America, and also received support from Global Ventures in 2021 for expansion efforts.
UAE’s Belong raises $1.5 million in pre-Series A
UAE-based Belong, the city-centric social app formerly known as ASKWHO, has secured $1.5 million in a pre-Series A funding round, taking its total raised to $3.5 million.
Founded in 2019 by Michael Askew and Matthew Gaziano, the platform fosters connections between city residents.
With the new capital, Belong aims to strengthen its services and expand its reach in cities such as Dubai, San Francisco, and New York.