Jad Haidamous

Here's the MENA tech news you missed last week 👇 🗞️ Updates 🛵 talabat's IPO has been fully subscribed within minutes of opening. The offering, priced between AED 1.50 and AED 1.60 per share, involves a 15% stake, equating to approximately 3.49 billion shares. At the upper price range, Talabat's valuation would be around $10.2 billion, slightly below its parent company Delivery Hero's $11 billion market value and Emirates NBD's estimate of $14.4 billion. This IPO follows recent underperforming regional deals, including Lulu Retail's $1.7 billion IPO in Abu Dhabi and Oman's energy unit's $2 billion offering. The final offering price is set to be announced on November 29, with trading expected to commence on December 10. 🇸🇦 The Saudi Exchange has approved Jahez Group’s transfer from the parallel market "Nomu" to the main market "TASI," reflecting its improved performance and compliance with listing standards. With a capital of 104.92 million SAR across 209.8 million shares, Jahez will temporarily suspend trading after publishing its transfer document, with the timeline for its TASI listing announced once regulatory steps are complete. 👾 Saudi Arabia’s Public Investment Fund (PIF) has reduced its stake in Nintendo to 6.3% from 7.5%, selling over 17 million shares between August and October, according to Japan’s Finance Ministry. While previously speculated to increase its holdings, the PIF’s recent sales suggest a shift in strategy. Despite the reduction, the sovereign wealth fund remains one of Nintendo’s largest shareholders. This move comes as the PIF balances its $38 billion gaming investment strategy, which includes hosting major esports events, with growing focus on domestic economic priorities amid budget pressures. 🤝 Acquisitions ✏️ PwC Middle East has agreed to acquire Emkan Education إمكان التعليمية, a Saudi consulting firm specialising in education and skills development. Established a decade ago, Emkan adds deep expertise to PwC’s regional education division. Founding partners Mounira Jamjoom, Sara Zaini, and Basma Bushnak will join PwC, with Emkan retaining its operations under PwC’s leadership. 📈 New fund 🕹️ Merak Capital has launched Exel By Merak, a $80 million gaming fund and accelerator to support gaming startups and position Saudi Arabia as a global gaming hub. Announced on November 17, 2024, in Riyadh, the program targets game developers and gaming technologies, offering investment, mentorship, and resources to help startups scale. The first batch aims to support 15-20 startups, create over 120 jobs, and contribute SAR 100 million to the Saudi GDP. 🌍 Global investments ☁️ Global Ventures has co-led a $9 million pre-Series B funding round for Singapore-based logistics startup Locad... *************************** 🐢 Get our full weekly MENA tech roundup, as well as the most interesting VC and startup stories, direct to your inbox twice a week here: https://lnkd.in/eVbWNJNp 📥

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Startups & innovation in MENA: the Q1 2024 venture report is in. Saudi Arabia and UAE top the list of Middle East and North African countries by venture capital investment in Q1. Full report link in comments. #saudiarabia #uae #turkiye #tunisia #mena #menatech #sauditech #venturecapital #startups

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‏Join us on this podcast episode featuring Hazem Rasmy and Mohamed Shalabi, founder of Mrkoon as they talk through the journey of how the promising start up came to be! ‏Mrkoon, a member of the our cohort, is leading the charge with their B2B matchmaking platform. By connecting surplus inventory to eager buyers, they're not just revolutionizing industry practices, they're also contribute massively to the environment. ‏‎في حلقة البودكاست دي مع حازم رسمي ومحمد شلبي، مؤسس مركون، بيحكوا عن رحلة إنشاء شركته! ‏‎مركون، عضو في PROPTEX. بيوصلوا الشركات اللي عندها مخزون فائض و رواكد بالمشترين المهتمين، و ‏‎ده طبعآ غير انه بيساعد البيئة. ‏#PropTech ‏#PropteX ‏#SuperChargingTheFuture ‏ #Accelerator ‏ #AccelerationProgram ‏ #RealEstateTech ‏ #FutureOfProperty ‏ #PropertyManagement ‏ #PropertyTechnology ‏ #SmartBuildings ‏ #Innovation ‏ #Startup ‏ #BlockChain ‏ #SmartHomes ‏ #VR ‏#AR ‏#IOT

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Looking to build strategic partnerships for your business? I ask the Blacklane Global Head of Partnerships and ex-Careem Director Adib Samara the key to raising 9 figures of funding, the best financial advice he's ever received, and the biggest mistake he sees founders make. "One mistake founders make is to think they can do everything themselves and they don't ask for help. Another mistake is they think entrepreneurship in itself is fun and cool. In reality it's tough, and if your business isn't solving for something, then you're in a lot of trouble. " Book a tailored 1:1 video call with Adib on Callmi here: https://lnkd.in/d6mgUaDQ

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Is your pitch deck investor-ready? 🚀 We help startups in Saudi Arabia, UAE, and across the MENA region craft compelling narratives, secure funding, and achieve their goals. Check out our latest carousel for 4 secrets to a pitch deck that demands attention! 👀 #startups #pitchdeck #fundraising #investors #venturecapital #VC #SaudiArabia #KSA #UAE #Kuwait #MENA #GCC

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MENA Weekly start-up funding round-up 👇 Grubtech (🇦🇪 UAE), a platform that streamlines operations for restaurants and cloud kitchens, has raised $15 million in its Series B and Series A extension rounds. 🚀 Founder: Mohamed Al Fayed, Omar Rifai, and Mohamed Hamedi 💰 Investor:  Led by Jahez Group, with participation from existing investors Addition and Oryx Fund. iyris (🇸🇦 KSA), an agritech that boosts crop yields, cuts costs and risks, and extends growing seasons in tough farming environments has secured a $16 million Series A round. 🚀 Founder: Ryan Lefers, Derya Baran and Mark Tester 💰 Investor: Led by Ecosystem Integrity Fund, with support from Global Ventures, Dubai Future District Fund, Kanoo Ventures, Globivest, and Bonaventure Capital. YoLa Fresh (🇲🇦 Morocco), an agritech that connects farmers directly with retailers and food service companies has raised a $7 million pre-Series A funding round. 🚀 Founder: Youssef Mamou and Larbi Alaoui Belrhiti 💰 Investor: Led by Al Mada Ventures with participation from Algebra Ventures, E3 Capital , Janngo.africa, and FMO - Dutch entrepreneurial development bank. Growdash (🇦🇪 UAE), an SaaS platform that enables restaurant marketing and operational teams to build, execute, and manage profitable growth strategies across digital sales channels, has raised a $1.8 million Seed round. 🚀 Founder: Sean Trevaskis and Enver Melih Sorkun 💰 Investor: Led by Oryx Fund. Other participants included Hub71, TPN Investments and GCC Angels; plus new participation from industry-leading angels like 🪽⚡️AngelSpark, Mohamed Zourob, and Abdullah Mohamad. Holo (🇦🇪 UAE), a proptech startup that simplifies the homeownership journey by offering digital mortgage services that allow buyers and homeowners to explore refinancing options has raised an undisclosed pre-Series A funding round. 🚀 Founder: Michael Hunter CeMAP and Arran Summerhill 💰 Investor: Led by DFDF and Oryx Fund, along with Aditum Investment Management. Aanaab (🇸🇦 KSA), a digital training platform offers K–12 teachers and educators a range of courses, licensing, and qualifications, predominantly in Arabic, to advance their professional development, has raised an undisclosed investment. 🚀 Founder: Mounira Jamjoom 💰 Investor: Rethink Education 🐢 And while you're here, do yourself a favour and sign-up to get more MENA start-up, VC and tech stories, interviews and deep-dives, direct to your inbox twice a week: https://lnkd.in/eVbWNJNp 📥 #uae #saudi #vcfunding #mena #startup #morocco

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Delivery Hero plans to raise about $1.5 billion by selling a 15% stake in talabat: In 2019, Talabat acquired Zomato’s UAE business, improving app performance, delivery speed, and customer service to become the top food delivery platform, ahead of competitors like Uber Eats and Deliveroo. Now, as a subsidiary of Germany’s Delivery Hero, Talabat is launching an IPO on the Dubai Financial Market, offering 15% of its shares with dividends. With over 6 million active users across 8 MENA countries, Talabat’s growth strategy leverages its "flywheel" model, expanding into groceries, pharmacies, and its quick-delivery tMart stores. Key challenges include regulatory hurdles and competitive pressures.

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Amazon Payment Services MD Peter George shares the four key payment trends that SMEs across the region must embrace to thrive in today's evolving digital landscape: https://lnkd.in/dz-QwKjE #smes #smallbusinesses #digitaleconomy #payment #digitalpayments #dubai #uae #middleeast

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Seeing a trend of more e-commerce firms selling ‘delivery subscriptions’. Why this is a genius strategy to study: The delivery subscriptions waive delivery fees for orders above a certain amount. Major companies like Talabat and HungerStation in the region use this model successfully. They’re not the first in MENA to do this either. Careem and Amazon Prime have similar offers. Because last-mile delivery and e-commerce are tightly linked, They know that it’s a necessary cost - and found a creative way around it. --- These subscriptions are essentially a marketing campaign: 1/ ⁠It makes consumers feel they’re getting a bargain. In reality the company absorbs last-mile delivery costs. 2/ ⁠It reduces cart abandonment, as high delivery fees are a common reason people abandon their carts. 3/ ⁠When you subscribe, you’re committing to buy from the SAME provider.  If not, you lose out on your fees, and the company earns without providing any service. By subsidising delivery on the condition that customers make an order,  Subscriptions act as a backward retention loyalty and lock-in scheme. 🔒 This makes it "sticky," keeping you coming back. It’s really quite clever. Though e-commerce companies provide logistical support, They tend to make their core revenue from product sales. Even if you don't typically buy much, you’re encouraged to shop more often. In theory the economics make good sense - but I’d love to hear from my network about the realities if this is true. What other creative strategies have you seen e-commerce firms employ?

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#Hyperpay developed an innovative solution for the hotels ( HyperHosptaility ) that solves major issues and increases their profitability Our solution today adopted by local and international hotel chains across the globe #HyperPay >> innovate

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A new wonderful episode of the VC React Podcast, with our amazing guests: Hasan Haider and Jessica Al-Hussaini, who provided great insights on: • Extending funding rounds and how it shows maturity in founders • Why payment gateways might want to stay focused on one big market • A deep dive into revenue based financing & how it's different than venture debt.  • How Revolut's expansion to MENA could shake things up in the regional Fintech scene, and force existing players to enhance their products and services, and would this move by Revolut influence local VC's investment theses?  • A comparison of two fintech startups that started in the same year, a global one that became a decacorn, and a local one that is still at series B.  • Selling founder shares at secondary rounds • How MENA startups could strategize their expansion to the US market if they plan to. A big thank you to our guests, and as always, thank you Jamie Lane and FWDstart. --- VC React Podcast Available on: • 𝗬𝗼𝘂𝘁𝘂𝗯𝗲: https://lnkd.in/gswEc6DJ • 𝗦𝗽𝗼𝘁𝗶𝗳𝘆: https://lnkd.in/gERdVmEc • 𝗔𝗽𝗽𝗹𝗲: https://lnkd.in/gFT3FsCB • 𝗔𝗺𝗮𝘇𝗼𝗻: https://lnkd.in/gkfNgF5K ---

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That's big news for the region in Middle East & North Africa 💥 $𝟭𝟬.𝟮 𝗯𝗶𝗹𝗹𝗶𝗼𝗻 𝗜𝗣𝗢 💥 As exits and other liquidity events for investors are still scarce in MENA and in Africa, but deals like these give some hope and confidence in the region as a collective power house (MENA + Africa) There are many other routes for #liquidity and I think specially for Africa, we need to be creative in the ways and timings we create liquidity for our #investors and #LPs #Africa #MENA #MiddleEast #Talabat #IPO

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Join us this Thursday as we reveal exciting opportunities for startups and investors in the Middle East. As the organizers of the Dubai Tech Experience and the first-ever US Pavilion at GITEX Expand North Star, we’ll announce the winners of the Expand North Star pitch competition. We'll also share insights on: The Dubai Tech Experience; How we’re building a global ecosystem connecting US startups with Dubai’s innovation hub, Fundraising in the Middle East; Key strategies for securing regional investments and scaling your business, Connecting Startups with Investors; Exclusive opportunities to engage with 1,000+ investors and 2,000+ startups at GITEX Global 2024, and Dubai’s D33 Initiative; Unlocking $8.7 trillion in investments focused on innovation and technology. Don’t miss this chance to explore Dubai’s booming tech scene and network with industry leaders!

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Dubai-based Popcorn AI, a leader in conversational commerce, has raised $500,000 in pre-seed funding from Spring Studios Fund — backed by Salica Investments and Al Waha Venture Capital Fund of Funds — along with angel investors from Saudi Arabia. This funding milestone will accelerate Popcorn AI’s mission to transform customer interaction through advanced AI-driven conversations. Popcorn AI’s platform offers intelligent AI agents capable of managing entire customer journeys, from personalized recommendations to seamless payment processes. A recent demonstration showed an AI agent completing a $400,000 real estate transaction autonomously. The platform has led to early adopters seeing customer acquisition costs drop by up to 90% and conversion rates rise by 20%, highlighting the transformative potential of conversational commerce. CEO Yousef Al Arif stated, “The future of commerce is conversational,” emphasizing that Popcorn AI is creating AI agents that act like skilled sales associates, personalizing the customer experience. Popcorn AI faces competition from other conversational AI platforms, including Gupshup and Verloop.io, which provide customer engagement solutions across industries like banking and retail. Globally, LivePerson and Intercom are also advancing AI-driven customer service solutions, marking a global push towards conversational commerce. https://lnkd.in/dQd5dxZF

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🚀 Exciting News for Entrepreneurs & Investors in the Middle East! 🚀 Are you ready to bring your startup to Canada or explore investment opportunities in one of the world’s most dynamic economies? We’re excited to announce that our General Partner, Alban Jerome will be in Riyadh from September 26th to 28th to connect with entrepreneurs and investors. If you’re an entrepreneur exploring Canada’s Start-Up Visa Program or a resident looking to grow your portfolio in a stable, innovation-driven economy, this is a unique opportunity to meet in person! ✅ Entrepreneurs: Learn how to secure a Letter of Support and navigate the requirements for launching your startup in Canada. ✅ Investors: Discover why Canada’s diverse economy and strong legal protections make it an ideal destination for global investments. This is your chance to gain valuable insights from Alban and take the next step in growing your business or investment in one of the world’s most dynamic economies. Schedule your meeting now—spots are limited! - https://lnkd.in/g45mebuJ 📅 Let’s help you unlock your next opportunity in Canada! #Entrepreneurs #StartUpVisa #InvestmentOpportunities #MiddleEast #Riyadh #Canada #Innovation #TacendaCapital #BusinessGrowth #GlobalTrade #CanadianEconomy #Investment #Startups #Entrepreneurship #VentureCapital #EconomicGrowth York Angel Investors #BusinessDevelopment #InternationalBusiness #Immigration #BusinessStrategy #EmergingMarkets #CanadaImmigration #InvestmentStrategy #GlobalEntrepreneurs #BusinessExpansion

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🚀 Big news for tech startups in Dubai! Amazon and Dubai's Department of Economy & Tourism just launched an SME accelerator program to help local businesses scale faster. This is exactly what the tech ecosystem needs - government and private sector joining forces to boost innovation. Having worked with startups for years, I know how game-changing proper mentorship and resources can be for early-stage companies. What do you think is the biggest challenge facing SMEs in today's digital economy? 💡 #DubaiTech #Startups #Innovation

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𝐅𝐮𝐭𝐮𝐫𝐞 𝐨𝐟 𝐅𝐢𝐧𝐭𝐞𝐜𝐡: 𝐌𝐄𝐍𝐀 𝐌𝐨𝐦𝐞𝐧𝐭𝐬 (𝐀𝐮𝐠 𝟒𝐭𝐡-𝟏𝟔𝐭𝐡) 🌍 The MENA region is experiencing a fintech revolution, with a focus on embedded finance, blockchain, and e-commerce presenting exciting opportunities for growth. ➊ Paymob and Shopify's partnership is a strategic play at catalysing e-commerce growth in the region, making digital entrepreneurship more accessible than ever. This could significantly increase the number of SMEs entering the digital economy, fueling economic diversification. ➋ Akurateco Payment Hub's support in securing a PSP licence for TESS Payments is a critical development. By integrating advanced security and compliance features, this partnership ensures that payment processing in Qatar meets the highest standards. ➌ DIFC and Ripple are pushing blockchain technology for startups and into the operations of large financial institutions. This could mark a pivotal moment for blockchain in MENA, signaling a shift from experimentation to mainstream adoption. ➍ By integrating miles-earning with savings, Wio Bank and Etihad are creating a unique value proposition that blends financial products with lifestyle rewards. This sets a precedent for how banks can leverage partnerships to offer more appealing financial services. ➎ Mastercard and Scale are enabling fintech players to overcome entry barriers in launching payment programs. This can accelerate financial inclusion across the region by providing critical infrastructure and support to emerging fintech companies. ➏ The rollout of Click to Pay by Telr and Mastercard is set to streamline e-commerce transactions by offering secure and frictionless payment experiences - leading to higher conversion rates for merchants and increase consumer confidence in online payments. ➐ Lucky ONE's $3M funding is poised to scale consumer credit services in MENA. This also highlights growing investor confidence in consumer finance solutions in the region. ➑ Cartona's latest funding round underscores its focus on scaling both vertically and regionally. For SMEs in MENA, this could provide a model for addressing working capital challenges through innovative fintech solutions. ➒ By offering exclusive deals and advanced management solutions in the restaurant sector, Foodics and B.Tech Business are likely to set new standards in Egypt’s food service industry, driving competitiveness and operational excellence. ➓ The partnership between Zeebu and SilentSwap introduces a new layer of privacy and security for telecom transactions, utilising decentralised technologies. This can set a new benchmark for secure digital transactions. ___________ Get exclusive insights and data-driven analysis on our website. Subscribe to our newsletter for weekly updates and unlock premium research with our membership plans here ➡️: https://lnkd.in/gxsDKkTQ via WhiteSight #fintech #embeddedfinance #digitalpayments #payments #MENA

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In Tahseen Consulting's #MENA+ #techpolicy insight, you'll read about Delivery Hero IPO-ing 15% of talabat for $1B in the #UAE, IMAX releasing its 1st local production in #SaudiArabia, #Egypt launching a $530M sustainable aviation fuel company, #Pakistan’s PM meeting VEON to discuss #5G, #AI, #digitalexports, #Malaysia’s Tranglo entering 3 Gulf markets, #MENA funds posting robust performance, #SoutheastAsia leading #Chinese #app installs globally, Yandex investing in #Indonesia’s #AI ecosystem, and #India’s gaming market hitting $9B+ by 2029. 🇦🇪 #UAE Mubadala eyes Haier Smart Home stake 🇸🇦 #KSA Apartment rental yields the highest in the GCC - Sakan 🇪🇬 #EGYPT Vodacom pays $150M for 5G renewal, $17M for existing license 🇵🇰 #PAKISTAN trial #VPN block faces pushback 🌍 #GCC #WallStreet giants look to #AbuDhabi, #Riyadh for funds, deals 🌍 #GCC rail link to go live by 2030 🇹🇷 #TURKEY to launch long-term climate strategy at #COP29 🇹🇷 #TURKEY Borsa Istanbul investors ▼ to ~7M due to high rates 🇸🇬 #SINGAPORE Tencent partners with Visa on palm-based authentication 🇻🇳 #VIETNAM Temu, SHEIN told to register or be blocked 🇮🇳 #INDIA Competition Commission finds Zomato, Swiggy violated #antitrust laws

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