Anouar Bourakkadi Idrissi

We are thrilled to announce the first close of our $100 million second private credit fund, Nahda Fund II, paving the way for continued innovation and growth in the MENA tech ecosystem. 🌍💡 🚀 With a successful track record from our first fund, which set new standards as the region's first tech-focused private credit fund, we're doubling down on our commitment to fueling innovation and driving economic growth across the Middle East and North Africa. Our first credit fund has already seen remarkable success, with investments in game-changers like Pure Harvest Smart Farms and Tamara, revolutionizing agriculture and fintech in the region, respectively. These ventures highlight the transformative impact of our credit facility in fueling innovation and propelling economic growth. Shane Shin (شين شن) 유근, Founding Partner at Shorooq Partners, emphasizes the importance of non-dilutive financing in the MENA region, offering a sophisticated alternative to traditional equity-based approaches. As the MENA region continues to thrive as a hub of entrepreneurial dynamism, non-dilutive funding provides a compelling avenue for sustained growth and enduring success. The MENA private credit market has witnessed remarkable growth, with significant opportunities for expansion and investment. Nathan Yonghyun Kwon, Principal and Lead at Nahda Fund II at the firm, notes the surge in deal flow, highlighting our mission to foster scalable growth in innovative companies across various sectors. As we embark on this new chapter, we invite founders and companies across the region to join us in shaping the future of innovation and entrepreneurship. Together, let's unlock new possibilities and drive sustainable growth in the MENA tech ecosystem. 💼💡 Read the news on Bloomberg by the talented Nicolas Parasie here: https://shorturl.at/sTAhI Reach out to us: shorooq.com Partnering with leaders creating tomorrow. #ShorooqPartners #PrivateCreditFund #MENA #TechEcosystem #Innovation #Entrepreneurship #ShorooqPartners #tech #investments #Entrepreneurship #venturecapital #venturedebt #privatecredit #privateequity #ksa #uae #egypt #korea #riyadh #abudhabi #dubai #cairo #founders #startups #wearehiring #jobs #spotlight #shorooq #alternativeinvestments #fundmanager

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🌟 Exciting Growth in Digital Banking in the UAE 🌟 Digital banks in the UAE are booming! Our CEO, Ghady Rayess, discusses the transformative role of the UAE Central Bank and FinTech innovations in a recent feature at Al Bayan Newspaper. Discover how new licenses, diverse payment solutions, and AI are shaping the future of finance. Read the full article 👇 #DigitalBanking #FinTech #Innovation #UAE

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The growth of the #fintech sector in UAE has been phenomenal With projections, indicating the market will escalate from USD 3.16 billion in 2024 to USD 5.17 billion by 2029 Our CEO, Nicolas Levi, has been featured in Integrator Magazine. In this insightful interview Nicolas shares how du Pay leverages Du's strong brand for financial services, targeting underserved populations. Discover the strategies driving our success and shaping the future of fintech in the region. Check out the full interview now! Link in the comment section #moneytransfer #uae #internationalmoneytransfer #paymentapp #dubai #dupay #yourmoneyyourway l The Integrator l Umair Yousaf

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The Middle East is on the brink of a digital banking transformation. It’s visible everywhere from the billions being invested in cloud infrastructure to become the next AI superpower, to the luminaries who flocked to this week’s Dubai FinTech Summit. Our colleagues from Lab49 attended the event and noted that in addition to a heavy emphasis on AI, there was a lot of focus on how the financial arena is being disrupted. A confluence of events is driving change. There is the diversification of economies beyond oil, the emergence of a growing number of funds and startups, as well as the appearance of foreign competition including neo banks such as Revolut and Alipay. Lab49 established a presence in the UAE a few years ago anticipating the need for large banks to reimagine their customer touchpoints, and in turn their underlying data and services infrastructure. The fintech summit attracted more than 8,000 people from 118 countries, including Charith Mendis, Head of Worldwide Banking Industry at AWS; Michael Demissie, Head of Applied AI and Practice at Bank of New York; Kfir Godrich, Chief Innovation Officer at Blackrock and Alfonso Castillo, President & CEO of Santander’s U.S. Private Bank. One notable speaker was Nik Storonsky, Founder & CEO of Revolut, a bank created in 2015 that has taken Europe by storm. It has attracted 35 million customers in 38 countries by offering digital-native and mobile-first banking services. Storansky said that Revolut is in the process of applying for a banking license in the region and expects to be operational in 2025. The expansion of digital services in the Middle East has led to an unprecedented increase in the number of people with access to financial services. It was that kind of promise that prompted Mashreq Neo to open the first digital bank in the region in 2017. Mashreq Neo offers a mobile-first banking experience, including transactional accounts, savings accounts, person-to-person payments, insurance, and investment products. For the established banks, a lot of the challenge comes down to offering new products and services, and distributing them in new ways for a changing business demographic while rapidly overcoming their legacy constraints.  Young tech-savvy entrepreneurs expect digital native experiences. Even mature businesses want easier and more efficient ways to manage tax payments, treasury operations, cross border payments, and employee compensation. They want the ability to make wire payments without paying exorbitant fees. Neo banks have grown fast worldwide, but many have struggled to reach profitability in the U.S., the world’s largest market. AI will also be a wildcard. Startups benefit from agility, but incumbents have reams of data and analytics that could help them better anticipate and service client needs. For the incumbent institutions there are risks, but also big opportunities.

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#Buna's CEO, Mr. Mehdi Manaa participated in a panel discussion on G20 Roadmap for enhancing cross-border payments: Interlinking of fast payment systems as a priority action, held during European Central Bank's conference last week. He highlighted, "Buna plays a pioneering role in cross-border payments interlinking between the Arab world and Europe. Buna’s leg-in/leg-out scheme creates tangible business opportunities for the participating banks that will facilitate cross-border payment interoperability with Target Instant Payment Settlement (TIPS), in collaboration with the European Central Bank." Watch the discussion here: https://lnkd.in/dNkEtuJt

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ACI Worldwide's 2024 Prime Time for Real-Time report has revealed that the Middle East is the FASTEST growing market for real-time payments for the SECOND year running 👏 🏛 💸 Governments in the region are implementing real-time payment schemes where businesses and consumers are REAPING the benefits; and is propelling the region into a NEW ERA of financial transformation 🤯 📈 The Middle East ALSO saw a remarkable YoY growth of 33.6% in 2023 with 855 million real-time payment transactions and last year marked a significant milestone as Oman, Kuwait and Qatar each launched their OWN national real-time payment schemes, 👨‍💻 “Real-time payments eliminate payment friction, inject greater liquidity into the system, and promote economic growth and financial inclusion. Yet, their full potential can only be realized when banks transcend legacy silo systems. With real-time payment schemes now operational in every GCC nation, local banks are at a pivotal juncture where they must harness technological evolution as the catalyst for innovation. The path to innovation lies in modernizing and future-proofing their infrastructure, enabling them to fully leverage the potential of real-time payments,” said Santhosh Rao, Senior Vice President, Sales at ACI Worldwide MEASA. “Active collaboration is the cornerstone of a thriving real-time payment ecosystem, fostering an environment where banks must navigate a delicate balance of competition and cooperation with emerging market players. The world’s most successful real-time payment schemes, exemplified by India’s achievements, showcase a myriad of real-time payment methods via QR codes, mobile apps, or online accounts, pushing the boundaries of innovative use cases. With the Middle East leading the world in real-time payments growth, financial institutions should seize the opportunity to carefully study these successes and extract valuable insights to inspire the launch of their own pioneering real-time payment solutions.” Read the report on the link below! 👇 #aciworldwide #payments #middleeast #realtimepayments #gcc #digitaleconomy #mobilepayments #paymentsolutions

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We are proud to be featured in Economy Middle East's April issue alongside Policybazaar.ae! Special thanks to Christophe Morchio, Chief Commercial Officer, for representing Prepay Nation in this leading business publication. The article "The Middle East is on the Cusp of a Digital Payments Revolution" highlights Christophe's invaluable insights into the transformative potential of digital payments in the region's economy. Christophe's vision and leadership continue to propel us forward in embracing innovative solutions that shape the future of commerce in the Middle East. Read the feature here 👉🏼 https://bit.ly/3U9yO2P #PrepayNation #Prepaid #B2BMarketplace #Mobile #Data #Airtime #Bundles #eGiftcard #Utility #CrossBorder #TopUp #Payments #RechargeYourBusiness #FinancialInclusion #DigitalTokens #GlobalTransactions #DigitalPayments #OneNation

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📰MENA FINTECH NEWS🌏 The Middle East and North Africa is one of the last regions to be conquered by #payment innovation, presenting a big opportunity for fintechs : many countries are now focusing on diversifying their economies and bolstering growth and innovation across various sectors. #fintech #FintechNews

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🇧🇭 The governor of the Central Bank of Bahrain, Khalid Humaidan, outlines Bahrain’s ambitious banking future. From piloting CBDCs to advancing open banking and linking GCC payment systems, the country is driving digital innovation. 🏦 Bahrain’s banking sector is on a healthy growth trajectory, with assets outpacing GDP, reflecting robust domestic and international activity. Plans are also in place to strengthen the insurance sector to support local capital markets. 🤝 On cross-border M&A, the governor sees growing regional prospects but stresses shareholder-driven decision-making, prioritising mergers that create strong, growth-focused banks. Meanwhile, closer GCC economic integration is attracting global investment interest. Read the full interview here: https://lnkd.in/eqi-8iwE John Everington interviews

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We’re thrilled to be featured alongside CredibleX and Finneva Holdings in the latest edition of MEA Finance Magazine . The #article dives deep into the evolving #fintech landscape in the #UAE 🇦🇪, and we couldn't be more excited to be part of this dynamic #conversation. Head over to page 46 🔎 for an exclusive #interview with the industry’s key players , where we discuss #innovation, #collaboration, and what’s next for the region 🌍 Check out the full article here 👉 https://lnkd.in/d9zngwDw *haifin, an e& enterprise company - Built by the Banks, for the Banks #Fintechnews #UAETradeConnect #Digitisation #Interoperability #Artificialintelligence #Machinelearning #Blockchaintechnology #Globaltrade #Hyperledger #Cocreation #Powerofnetwork #Innovation #supplychainfinance #TradeFinance #FinancialInnovation #Collaboration #Partnership #InnovationInFinance #StrategicCollaboration #FinanceIndustry #FinancialLeadership #FCI #ITFA #ICC #BAFT #GTR #ISO #UAEbanks *haifin is an ISO/IEC 27001 : 2022 certified company

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Excited to be featured in the latest edition of MEA Finance Magazine! This feature dives deep into the fast-evolving #fintech landscape in the #UAE, where groundbreaking innovations and bold collaborations are reshaping the future. Check out page 46 for an exclusive interview where we discuss #innovation, #collaboration, and the exciting future ahead for the region. haifin, an e& enterprise company Vikas Jha Saurabh Gupta Raman Taneja Ramesh Guhaprasad

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Saudi Arabia’s digital revolution in banking has significantly enhanced the nation’s economic landscape, facilitating effortless financial transactions for customers. Speaking to Arab News, partner Fabrice Franzen highlighted that the Kingdom has been one of the first countries to issue full digital banking licenses without branches, supported by SAMA’s promotion of the digital bank model. He emphasized that this development will foster competition, drive innovation, and enhance customer experience. Franzen also noted SAMA’s active support for the fintech scene, providing diverse licensing options, and the role of local investors in funding fintech ventures. He pointed out that customers now expect digital banking services that match the convenience of other mobile solutions, particularly benefiting those in remote areas with fewer branches. Read the full article: https://atbain.co/4cJxWdn

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Matouk Bassiouny has become a key player in Egypt’s burgeoning fintech sector and in this article Matouk Bassiouny explores the impact its fintech and emerging companies and venture capital department (FECVC) will have in the UAE following its expansion into the region. ‘From doing business reports, incorporations, and operations to fundraising, managing licensing, handling litigation matters, securing venture capital, and even assuming the role of an in-house team, the FECVC team’s comprehensive suite of services eliminates the need for clients to coordinate with multiple legal advisors within each area of law.’ This article offers insights into how Matouk Bassiouny’s FECVC team’s innovative approach has instilled a sense of security and confidence in an industry that is constantly evolving. Learn more here: https://hubs.li/Q02NBVy_0. #matoukbassiouny #fintech #innovation #egypt

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MUSCAT: Open banking is set to revolutionise Oman's financial technology (fintech) sector, according to Mohammed al Wahaibi, the CEO of Al Jabr Mena, a venture capital and private equity firm specialising in startup development and corporate innovation. In an exclusive interview with Oman Observer, Al Wahaibi discussed the profound impact open banking can have on the fintech ecosystem, the critical role of entrepreneurs, and the strategic initiatives fintech firms are undertaking to drive innovation and economic growth. Read more: https://lnkd.in/ej4JWDP7 al jabr mena @fsa_oman Central Bank of Oman Ministry of Finance - Oman Mohammed Al Wahaibi #OpenBanking #AlJarMena #FinancialTechnology #Fintech #VentureCapital #PrivateEquity #FintechEcosystem #StartUp ##Banking #Oman #OmanBiz

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Did you know that 46% of all fintechs in the Middle East are in UAE? 🚀 With the fintech landscape expanding over the last few years in the region, uqudo is delighted to be a part of this revolution shaping the future of the region's financial landscape. Our CEO, Mohamed E. Fagiri will be sharing his insights on fintechs and financial security at Unplugged by Fintech Tuesdays, at the Fintech Surge on 13th October. Interacting with fintech leaders transforming MEA's financial ecosystem, he'll illustrate how digital identity solutions are the core of secure financial systems. 🔒 See you there! 👋 #startup #fintechsurge #gitex #identity #digital #technology

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Welcome to the Daily Rundown! Here are the top news stories for Thursday, November 14— Visa to launch UAE flex payments, Egypt lowers banking age, and more 1️⃣  Visa to launch flex payments in UAE The “flexible credential” feature will be rolled out in the U.S. and the UAE, allowing customers to use a single card for multiple funding sources. Fintech finance expert Ali Paterson weighs in:  https://lnkd.in/eBXU_F6x 2️⃣ Egypt lowers banking age The Central Bank of Egypt now allows 15-year-olds to open bank accounts without parental approval in a bid to enhance financial inclusion in the country. Ahram Online reports: https://lnkd.in/e52Qn3a8. 3️⃣ CO2 emissions to break new records Global carbon dioxide emissions are set to hit a record 41.6 billion metric tons in 2024, mainly from fossil fuels, further derailing climate goals. Sustainability expert Amin Aslam breaks it down: https://lnkd.in/eQ2_yFx7  4️⃣ Calls to restore BA London-Bahrain flights An online petition has been launched urging British Airways to reconsider its decision to halt flights to the Gulf country, urging for the restoration of direct trips between London and Bahrain. Journalist Katy Gillett reports: https://lnkd.in/eR6zMeq6 5️⃣ Study unveils cybersecurity challenges Egypt ranked among the least prepared countries for data security, alongside Mexico and New Zealand, according to a new study. The National News’s Cody Sigel Combs reports: https://lnkd.in/eTr_nwBN Check out the latest conversations from the UN climate change conference COP29 Azerbaijan: https://lnkd.in/dVWQGpHK For the latest updates on the ongoing escalations between Israel and Hezbollah from trusted publishers: https://lnkd.in/dUE75PqE   💬 Have a take on these stories? Share in the comments section.

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FlapKap Raises $34 Million to Empower SMEs in MENA FlapKap, a UAE-based fintech platform, raised $34 million in debt and equity funding, led by BECO Capital with participation from Pact VC and other investors. Founded in 2022, FlapKap supports e-commerce and SME growth through revenue-based financing, offering flexible repayment terms. The funds will expand its UAE and GCC presence, enhance technology, and launch trade finance products for B2B businesses. The MENA region's MSME finance gap remains significant, with 63% lacking access to finance and a funding gap estimated at $210-240 billion. Key Highlights: ⁍ Funding Amount: $34 million in Pre-Series A ⁍ Total Funding: $37.6 million ⁍ Investors: BECO Capital, Pact VC, A15, Nclude, QED Investors, Channel Capital ⁍ Founders: Ahmad Coucha, Khaled Nassef, Sherif Bichara, Kunal Harisinghani 🔥 ⁍ Objective: Expand SME solutions in the UAE and GCC, enhance technology infrastructure, and launch B2B trade finance products Leadership Perspective: ❝Ahmad Coucha, CEO and Co-founder of FlapKap: "By harnessing data and technology, we’re overcoming the obstacles that SMEs encounter in securing financial services. Our enhanced ability to accurately assess risk and lower underwriting costs tackles the major challenges traditionally faced by financial institutions." Implications for the SME Financing Sector: The $34 million funding round positions FlapKap to significantly enhance its support for SMEs in the UAE and GCC. By expanding its capabilities and introducing new B2B trade finance products, FlapKap is set to address the substantial financing gap for micro, small, and medium-sized enterprises (MSMEs) in the region. This move highlights the growing investment in fintech solutions aimed at overcoming financial accessibility challenges for SMEs. #SMEFinance #FlapKap #Fintech #StartupFunding #UAEStartups #GCCBusiness #RevenueBasedFinancing #TechInnovation #FinancialInclusion #FundingRound #BusinessGrowth #InvestmentOpportunity #FintechRevolution #MiddleEastStartups #MENA #BreakingNews #Rasmal

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