MENA’s Digital News, Week #1

A weekly round up of the top headlines from the digital sector in MENA, covering startups, corporate and public sector news.

Investments & Acquisitions

Dubai’s VVIP raises $2.5M from blockchain investment firm Pecunio to launch a blockchain powered social network

Gamiphy, gamification platform, raises investment from Ibtikar Fund (no numbers disclosed)

Buseet, Cairo based shuttle service, raises investment from Cairo Angels & 500 Startups (no numbers disclosed)

YallaPlay, game developers, raises investment round from IM Capital and Berytech

Trukker raises $2.7M led by OTF Jasoor Ventures and Shorooq Investments

Q8Car’s 4Sale app sells 56% of shares at $100M. News via twitter, no further details available yet

Repzo, Jordanian CRM platform, raises seed funding from Jabbar Internet Group & Oasis Creative Industries

Careem acquires Commut, Indian bus-shuttle service. 

Sector News

Sawari Ventures to launch a $55M VC growth fund (not fintech fund like the article mentions, this was clarified by Ahmed Alfi on social media)

Dubai’s Department of Finance and Smart Dubai launch a “Payment Reconciliation and Settlement” system to process payments in public entities with DEWA & KHDA already onboard with over 5M transactions processed

Kuwait’s Electricity Ministry partners with SAP & Zain Telecom to instal smart meters

Further Readings

SoftBank plans on raising funds at the scale of the Softbank Vision Fund (~$100B) every 2-3years and to deploy $50B in investments annually

The ICAEW Economic Insight on Africa Q3’18 report shows promising growth in Egypt, Libya and Morocco

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