Mahmoud AbuEbeid

🇦🇪 From #FinTech to F&B - Abu Dhabi’s top fundraisers are quite diverse! The city has recently been making waves as one of the fastest-growing startup ecosystems in #MENA according to 3rd party reports. The MAGNiTT team decided to take a closer look at the most funded Abu Dhabi-based startups from each month over the past year, from June 2023 to May 2024. Leading the charge with $48M was the blockchain-powered tech platform Andalusia Labs. Not far behind, Alma Health and Fuze also scored impressive funding rounds, with $10M and $14M respectively. Turning to the most recent news, RemotePass secured $5.5M in Series A funding from investors like 212 VC, Khwarizmi Ventures and Endeavor Catalyst, OCTA secured $1M from Sukna Ventures, and The Cloud - Food Ecosystem secured $6M in equity financing from MENA Moonshots. What’s even more exciting is the diversity among these eight startups. They represent a wide range of sectors including Media & Entertainment, Healthcare, Travel & Tourism, FinTech, F&B, and Enterprise Software. And the Abu Dhabi Ecosystem continues to develop with key developments Hub71 with new cohorts, ADQ new fund announcements, Lunate and Mubadala Capital investments in MENA startups. Government entities continue to push on initiatives including ADGM, Abu Dhabi Investment Office and Abu Dhabi Department of Economic Development. Want to stay up to date with all MENA funding news? Make sure to subscribe to our weekly newsletter 👉 https://lnkd.in/daDKeJXH #venturecapital #funding #UAE #VC #startups

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🚀 Want to Rapidly Expand Your Business in Saudi Arabia? 🇸🇦 Exciting Announcement: The Scaleup Methodology Podcast Launch! 🎙️ We're thrilled to introduce a groundbreaking podcast that combines years of product development expertise with insights from Saudi Arabia's top entrepreneurs. Our mission? To equip you with proven strategies for scaling startups in this dynamic market. 🔥 Limited Sponsorship Opportunity 🔥 Here's what you get: ✅ 20-second promotional clip in every episode ✅ Exclusive access to our network of guests and featured companies ✅ Your brand featured in 5-10 social media reels per episode, generating ~500,000 impressions ✅ Super-hot leads handed to you on a silver platter: We share our engaged audience data, making re-targeting a breeze for your marketing team ✅ Exclusive invitation to our power-networking dinner: Connect directly with our podcast guests and fellow sponsors to forge valuable business relationships We're not just offering sponsorship; we're delivering a targeted marketing goldmine in the Saudi market. We identify and engage your ideal audience, you convert them into customers and partners. 🤔 Ready to supercharge your brand's growth, tap into the booming Saudi startup ecosystem, and build game-changing business connections? Drop a 🙋‍♂️ in the comments or DM me for more details. Limited spots available! #SaudiArabiaExpansion #ScaleupMethodology #BusinessNetworking #PodcastSponsorship #scaleupmethodology

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UAE-based fintech Ziina زينة has raised $22 million in a Series A funding round, led by US-based Altos Ventures along with other investors including FinTech Collective, Avenir, Activant Capital, Y Combinator, FJ Labs, Middle East Venture Partners (MEVP), and Jabbar Internet Group. Founded in 2020 by Faisal Toukan and Sarah Toukan, Ziina helps individuals send and receive payments through its app with just a phone number, no IBAN or Swift Code required. It launched its digital wallet in February 2022. The new round will fuel Ziina’s expansion beyond a #payments solution to providing end-to-end #financial services for businesses and consumers, starting with the soon-to-launch ZiiCard. In June 2021, Ziina, fresh from completing YC’s first cohort that year and securing a $7.5 million seed, launched its #fintech app to 20,000 #retail customers, allowing them to send and receive #money. Three years later, the Dubai-based startup, which now counts 50,000 retail and business customers after expanding its offerings to meet the needs of micro, small, and medium-sized #MSME businesses in the #UAE Full TechCrunch article in comments

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Abu Dhabi radiates optimism as over 300 startups join AIM Congress 2024 👉 Over 300 startups are converging in Abu Dhabi between May 7th and 9th for three days of innovation, collaboration, and transformative dialogue. 👉 Key topics on the agenda include the rise of startups in biotechnology, the integration of technology into enterprises for financial resilience, and customer acquisition and retention. 👉 Seven high-level roundtable meetings are slated to help startup entrepreneurs learn from experts about the latest global investment issues. Learn more 👉 https://cutt.ly/5w6ZeHf2 Maharashtra State Innovation Society Kerala Startup Mission #invest #AbuDhabi #UAE #startup

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"Saudi Arabia is second with six VC funds – Raed Ventures, Saudi Aramco's Wa'ed Ventures, Vision Ventures, Impact46, Seedra Ventures and Oqal – with a total of 67 investments. The UAE has two: Abu Dhabi's Shorooq Partners and Dubai's Global Ventures, with a combined 16 investments. The region falls behind others like Asia which has 786 and Europe with 1,227 VC funds. The US is the runaway leader with 2,298 – with the top seven VCs alone surpassing the Middle East's total. Data on how much these VCs are investing in AI is not clear, yet looking at the regional number of AI start-ups serves as a telling indicator of the sector's growth. There are 1,843 AI start-ups in the Middle East, with a total of 1,773 funding rounds that have raised $12.9 billion, data from industry tracker Crunchbase shows. In comparison, the whole of Europe has 9,994 AI start-ups with 10,598 funding rounds attracting $37.8 billion, according to the San Francisco-based start-up data platform. The top 10,000 AI start-ups in Asia have conducted 8,989 rounds that have raised $105.3 billion, while those in the US have had 17,320 rounds attracting $211.5 billion, it said. However, according to industry tracker Tracxn, there are an estimated 23,209 AI start-ups in the US."

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MAGNiTT’s MENA Q1 VC data is out now! Not looking great 👀 In line with my predictions in Jan, MENA's VC funding trajectory has followed a flattening trend, paralleling global VC investment patterns. MENA Q1 VC funding declined 60% YoY and 69% compared to Q4 2023 The FED has maintained interest rates in Q1. In fact Larry Summers even suggested the risk of higher rates in 2024. This backdrop highlights the challenge startups to secure funding rounds as investor appetite dampens. Until we see rates decline (still planned for H2) we don't anticipate an uptick in VC funding in 2024. This decline in MENA, however, echoes a broader global trend, as highlighted in CB Insights's latest report, which observed a 21% YoY decrease globally. More than ever, there has been a bigger disconnect between the public market rallies and the private market challenges. With the S&P up 6.73% YTD and the Nasdaq up 7.5%, we have yet to see public sentiment correlate with Venture Investment. Want to access the latest MENA insights? Get a subscription and speak to our research team:  https://lnkd.in/g_e4XXTM #VentureCapital #InvestmentTrends #MENAStartups #TechInvesting #AIBoom #MarketAnalysis #EconomicTrends

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Web3 driving innovation in Saudi Arabia I am thrilled to have contributed to Adaverse's very insightful report on the state of Web3 in Saudi Arabia (see below). Having spent much time in the region, this report does a great job sharing some of the insight and innovation happening in the region. We are committed to helping shape the Web3 ecosystem in Saudi Arabia and the wider region. We are focused on ensuring that our programs in Riyadh in partnership with NTDP, will provide a significant opportunity for ambitious founders and help develop the rapidly growing Web3 ecosystem.  The report underscores Saudi Arabia’s Vision 2030, a highly ambitious initiative aimed at driving innovation and empowering the workforce with future-focused skills. We also believe that blockchain technology stands out as a particularly promising driver of growth in Saudi Arabia. The Kingdom is cementing its position as a global tech powerhouse, with notable advancements in the fintech sector, gaming market, and eCommerce landscape. Some insights from the report:   ✅ A young, tech-savvy population -- With 66% of the population under 30 and 99% connected to the internet, Saudi Arabia's young digitally-literate population is excited about the opportunities of the Web ✅ Supportive Government - The number of new businesses in the kingdom is growing at an impressive 20% year-over-year rate, signaling a vibrant startup ecosystem. The economy's key sectors are increasingly diverse with non-oil foreign direct investment having surged by 54% since 2020. ✅ Access to funding - MENA-based startups secured $429M across 163 deals, with Saudi startups receiving 51% of the funding across 36% of the deals. Learn more about Outlier Ventures upcoming Riyadh-based accelerator program at https://lnkd.in/dZYG4NBb

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📊 A month of revitalization in MENA MENA startups raised $282M across 63 deals in September — 234% increase from August and a 607% surge compared to September 2023. Venture capitalists continue to favor early-stage investments, with Seed-stage startups securing $102M across 32 deals. Debt financing accounted for only 12% of the total volume. The largest deal was closed by Saudi Arabian startup SHIFT, raising $82.8M to expand its car-sharing platform. In second place was Syarah, an online marketplace for buying and selling cars, which raised $60M in a Series C round (including $20M in debt financing). The top three countries remained unchanged: 🇸🇦 Saudi Arabia: 23 startups raised $170.8M.  🇦🇪 UAE: 12 startups raised $73.8M.  🇪🇬 Egypt: 13 startups raised $25M. Despite geopolitical challenges, the MENA ecosystem continues to grow. In Q3 2024, startups raised $727M, a 192% increase year-over-year. The outlook for Q4 remains positive.

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September 21 2024 – 5 Notable Articles To Read Article: OpenAI in Talks with UAE Investment Fund for $7B Fundraising Takeaway: MGX was launched this year by Mubadala Investment Co., a state-owned entity, and G42, a tech conglomerate partnered with OpenAI, which supplies AI services to businesses in the region. Microsoft, OpenAI’s largest supporter, also holds a seat on G42's board. Source: The Information Link: https://lnkd.in/dTc5r3cc Article: Danish Freight Firm DSV - Global Transport and Logistics Buys German Rival for €14.3B Takeaway: The deal makes the Danish company the world’s largest freight forwarder, with DSV surpassing private equity firm CVC in the race to acquire DB Schenker. Source: Bloomberg Link: https://lnkd.in/dFh_QCRb Article: Blackstone Said to Weigh Sale of $7B Consular Tech Firm Takeaway: Blackstone Inc. is exploring options, including the sale of its majority stake in VFS Global, a visa outsourcing and technology services company, following interest from potential investors, according to sources familiar with the matter. Source: Bloomberg News Link: https://lnkd.in/dkwebFta Article: Abu Dhabi’s Mubadala takes stake in Revolut Takeaway: Taking part in a share sale last month that valued the London-based fintech at $45B and earned at least $200M for its founder and CEO, Nik Storonsky. Source: Financial Times Link: https://lnkd.in/dcz4XJ9K Article: An ESG Backlash Erupts in Europe on World's Strictest Rules Takeaway: As valuations and competitiveness decline, companies are protesting, claiming that the U.S. is handling the climate issue more effectively. Source: Bloomberg Link: https://lnkd.in/d7GXi3jQ #news #business #research #ai

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Saudi 🇸🇦 BNPL player Tabby is to acquire digital wallet Tweeq, the acquisition will enable Tabby to expand its financial product suite with Tweeq’s digital #wallet to offer its customers #digital #spending accounts, #cards and money management tools. Founded in 2019 in the UAE by Hosam Arab, Tabby is a buy now pay later (#BNPL) #fintech with over $6 billion in annualised transaction volume. Meanwhile, Tweeq, founded in 2020 by Saeed Albuhairi and Abdulaziz AlMalki, offers a spending account that allows customers to spend, send, and manage their #money. 🚀 The proposed acquisition by Tabby follows a financing round in December which saw the firm secure $700 million in debt financing from JPMorgan and extend its series D round to $250 million. Read more: https://lnkd.in/euPhusZQ

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Saudi Arabia's IPO market is red hot, and fintech is leading the charge! Rasan's groundbreaking IPO, with a staggering $29 billion in orders, underscores the tremendous investor confidence in the Saudi fintech sector. This development could be a game-changer for Saudi Arabia's tech landscape, paving the way for a wave of new listings. What does this mean for the future of fintech in the Gulf region? Read more for insights and analysis: [https://lnkd.in/dUEgqncZ] #SaudiArabia #Fintech #IPO

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Looking to make a high-growth investment for the coming year? Dubai is poised for an incredible surge, thanks to the D33 Agenda — a series of groundbreaking projects aimed at driving sustainable economic growth and doubling the GDP by 2033. Join me in my upcoming investment workshop, where we'll dive deep into these opportunities. Connect with one of our expert real estate brokers today to secure your spot! #investmentdubai #dubairealestate #d33agenda #sustainablegrowth #dubaimarket #realestateinvesting #dubailuxury #propertyinvestment #dubaieconomy #highgrowthinvestments #investindubai #wealthbuilding #dubailifestyle #dubaiworkshop #realestatesuccess #firasalmsaddi

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Join us at the Dubai 2024 Venture Capital World Summit, the premier event for investors and entrepreneurs in the UAE! Don't miss out on this opportunity to network and learn from industry leaders. Link in bio for more details and to get tickets. #Dubai2024 #VentureCapital #InvestmentConference #UAE #Networking

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Investment activity in MENA’s startup space slowed down in June 2024, as 38 tech startups raised $116 million, bringing the half-year total to $882 million. The amount raised in June declined 59% month-on-month, but rose 182% when compared to the same period last year. #Startups #Investments #Funding #Mena

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BECO Capital: Historic Exit with Property Finder! BECO Capital, a leading early-stage venture capital firm in the UAE, celebrates a landmark achievement with a 2.41x Distribution to Paid-In (DPI) capital ratio from its Fund I, setting new benchmarks in the #MENA region. This achievement underscores BECO Capital's commitment to supporting tech entrepreneurs in the region and delivering top quartile returns to #investors. Dany Farha, Co-Founder and Managing Partner at BECO Capital, highlights their pleasure in investing in Property Finder and praises founder Michael Lahyani's entrepreneurial vision. Reflecting on the collaboration, Michael Lahyani credits BECO Capital for their decisive support, emphasizing the potential for innovative companies in the MENA region to achieve significant growth and create returns that fuel the entrepreneurial ecosystem. This milestone not only demonstrates tangible gains but also showcases the maturing venture capital ecosystem in MENA, enhancing its global stature as a leading centre for technology and innovation. Congratulations to BECO Capital and Property Finder on this historic achievement! For more information: https://lnkd.in/dKyNubMY #VentureCapital #MENA #TechInvestment #Innovation #Entrepreneurship

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Abu Dhabi has a unique proposition to attract the right talent – and here’s why. Getting top founders to Abu Dhabi means showing them they're valued here. It's about support, not just incentives. Abu Dhabi's startup ecosystem, including Hub71, has shown promising growth. ➞ It generated $4.2 billion in value from July 1, 2021, to December 31, 2023. ➞ Abu Dhabi is MENA's fastest-growing emerging ecosystem with a growth rate of 28% annually. But is it attracting talent who are excited to stay and contribute to the ecosystem? I spoke with an expat founder who moved his company and family here. When asked why he chose the UAE, he said: "It's a great place to raise children and build a company." That's powerful. He was also impressed to learn that Abu Dhabi is home to a unique government entity, the Abu Dhabi Early Childhood Authority, focused on ensuring all children (prenatal to the age of eight) flourish. Long-term commitment from founders needs more than just good business conditions. It requires a community they can relate to and where they feel at home. This is what inspires true innovation and local market growth. What if startup incentives included: ➞ Affordable housing options for founders with families. ➞ Subsidized child care or daycare at startup hubs. ➞ Access to cultural and recreational spaces. These initiatives could make Abu Dhabi not just a favorable business location, but a place where founders can set down roots and contribute meaningfully to the ecosystem. What initiatives do you think would effectively attract and retain the right kind of founders and talent in Abu Dhabi? #AbuDhabi #GlobalTalent #StartupCommunity

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TechMal Secures $1 Million in Pre-Seed Investment! Saudi Arabian fintech startup TechMal has raised $1 million in a pre-seed funding round, led by الماجدية | Almajdiah alongside other investors. Founded in 2024, TechMal focuses on providing micro-consumer finance solutions for the residential rental market. Licensed by the Central Bank of Saudi Arabia (SAMA), TechMal's platform enables tenants to convert annual or semi-annual rental payments into manageable monthly installments, easing the financial burden and promoting flexibility in rental payments. Key Highlights: » Funding Round: Led by Al Majidiyah, with participation from other investors. » Service Offering: TechMal provides financing solutions for residential rental payments, allowing tenants to pay in monthly installments via the Ejar platform. » Market Position: As a licensed micro-consumer finance company, TechMal aims to support the growing rental market in Saudi Arabia. ❝ Saud Al-Rebdi, co-founder of TechMal, stated, "This investment round reflects the strong interest in real estate finance. We are excited to join forces with partners who share our vision of transforming rental financing." Read more at Rasmal https://lnkd.in/g76jS9dA #TechMal #Fintech #Investment #SaudiArabia #Startup #BusinessNews #Rasmal #Innovation

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