Mohammed Elhorishy

Big win for oliv as it secures the first fintech lending license from Egypt's Financial Regulatory Authority FRA. Thrilled and privilaged to work with such determined team led by Ziad Mokhtar and Hatem M. Sabry, CFA, CAIA to offer simple digital invoice financing to SMEs in less than 48 hours. To learn more about the product check https://oliv.finance/ https://lnkd.in/d3Wu94yD

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At First Circle Capital, as part of our thesis we look to back scalable lending models that will adress continent's credit gap. Excited to announce our investment in MNZL ! In Egypt, there is a major challenge in accessing credit from formal financial institutions. Of the 68m adults in Egypt today, only 37m have access to a bank account and only 5.1m (7.5% of the total) have accessed credit through a bank. The majority of lending is in the form of borrowing from friends and family, or from other very expensive sources. Many adults are excluded from all forms of borrowing altogether. This exclusive financial model prevents individuals from growing their financial wealth. Despite these tight credit conditions, most Egyptian families own a major or significant asset. 76% of families own a home and there are 8 million cars in Egypt. These assets are a store of wealth which is currently underexploited. MNZL estimates the total value of these assets is approximately $2 trillion. In the U.S., 70% of consumer borrowing is enabled through mortgages and backed by housing assets. This model of securing lending against verifiable, fixed assets helps to improve access and reduce the cost of credit for consumers. In Egypt, only 10% of total consumer borrowing ($30b) is secured against a housing or vehicle asset. MNZL are expanding asset-backed financing to include more Egyptians while keeping default rates at a minimum. MNZL allows Egyptians to tap into their massive capital wealth (~2T$ property, and ~50B$ cars). MNZL offer Home & Car Equity loans and Lines of Credit (HELOC), and make accessing funding via personal assets frictionless, simple, and quick.   We are bullish about MNZLs future and happy to be partnering with great coinvestors like P1 Ventures LocalGlobe 500 Global Flat6Labs to help Sameh Saleh and his team scale this solution! Agnes Aistleitner Kisuule Ming S. Kwan Robert Smith Nhlanzeko Khanyile CA(SA) Jack K. Paola Ravacchioli M. Mikael Hajjar Hisham Halbouny Yvonne Bajela Amal Enan Mei Chel Tan

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We saw $2.64B raised on the IPO market in Q2 2024 in MENA ⏺️ Here’s a list of the top 5 IPOs but more importantly, take a look at the multiples on over subscriptions: 1. Fakeeh Care Group Hospital Company (Tadawul) - $764 million, 14.5x oversubscribed. 2. Alef Education Holding Plc (ADX) - $515 million, 39x oversubscribed. 3. Spinneys Holding Plc (DFM) - $375 million, 64x oversubscribed. 4. Saudi Manpower Solutions Co. (SMASCO) (Tadawul) - $240 million, 128x oversubscribed. 5. Rasan International (Tadawul) - $224 million, 129x oversubscribed. There’s around 23 more major IPOs planned this year. Keep an eye on them. Something is happening. #MENA #IPO #Investment #stockmarket #investmentbanking #saudiarabia #tadawul

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Egyptian unicorn fintech MNT-Halan has acquired Tam Finans, a Turkey-based commercial finance company in Turkey. Terms of the transaction were not disclosed. Founded in 2017 by Mounir Nakhla, MNT-Halan offers a diverse portfolio of financial and non-financial services ranging from lending, buy now pay later, e-commerce, payments, and mobility to on-demand logistics. Tim Finans, founded in 2012, provides trade finance services for tradesmen, SMEs and newly established companies. The new coalition aims to provide millions of businesses and consumers access to innovative financial services in Turkey, according to Nakhla. The acquisition follows MNT-Halan’s new cash influx of $157.5 million, and another expansion into Pakistan. Read more here: https://lnkd.in/eAjc2ep3 #Egypt #Fintech #SMEFinancing #Africa #middleeast #turkey

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📈 Cairo Real Estate Market Q2 2024: A Startup Perspective The latest JLL report highlights significant trends and opportunities in Cairo's real estate market. Here’s a deep dive into key insights and their implications for startups: #Office_Sector_Growth: In Q2 2024, Cairo added 15,000 sq. m. of office space, bringing the total to over 2 million sq. m. The market shows strong demand for large, high-quality office spaces, especially in New Cairo. However, citywide average rents decreased by 2% annually, currently at $356 per sq. m. The floatation of the Egyptian pound has stabilized the market, fostering long-term growth opportunities. #Residential_Sector_Dynamics: Approximately 2,200 new residential units were completed in Q2, expanding the stock to 278,000 units. Remarkably, sale prices in New Cairo soared by 180% annually, while rents increased by 122%. The market’s optimistic outlook, bolstered by foreign direct investment (FDI) and partnerships like the Ras El Hekma deal, signals robust growth and investment opportunities. #Retail_Sector_Trends: Cairo saw the addition of 102,000 sq. m. of retail space, with an 8% annual increase in rental rates. Despite economic pressures, local brands are thriving, expanding into physical stores. This shift presents a unique opportunity for startups in the retail sector to capitalize on tenant-friendly conditions and growing consumer demand. #Hospitality_Sector_Prospects: The stable hotel stock of 26,700 keys is expected to grow by 1,300 keys by year-end. Multiple currency devaluations have enhanced Egypt's appeal to tourists, driving growth in international arrivals by 4% in early 2024. Startups in the tourism and hospitality sectors can leverage this positive trajectory for new ventures and expansions. Opportunities for Startups #Office_Space_Providers: With increasing demand for high-quality office spaces, especially in New Cairo, startups can focus on flexible and serviced office solutions. #Rea_Estate_Tech: Innovative solutions to streamline property management, leasing, and tenant services are in demand as the market stabilizes. Retail and E-commerce: The growth of local brands and physical retail spaces offers a fertile ground for startups providing retail tech and omni-channel solutions. #Tourism_and_Hospitality: Startups can tap into the growing tourism sector by offering unique experiences, tech-driven services, and sustainable hospitality solutions. Cairo’s real estate market presents a dynamic landscape with diverse opportunities for startups. By aligning with these trends, startups can drive innovation and capture significant market share. 🌍💼 #CairoRealEstate #StartupOpportunities #MarketGrowth #Innovation

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Online marketplace Sylndr has raised $7.5 million Egypt-based Sylndr, which allows customers to buy and sell their cars as well as find financing solutions, has raised $7.5 million from EFG Holding, EGBANK , and other investors. Congrats to the co-founders, Amr Mazen, Omar El Defrawy, and the entire team! Read more here: https://lnkd.in/ePpUpTwt.

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Got to know that I've been recognized as the #10 creator among LinkedIn's Top 50 in Egypt's venture capital landscape! 🚀 🎉 As part of our mission at Sunny Side Venture Partners, I would like to keep sending the positivity from the ground, out to the world, to bridge the gap🙏🌍 #VentureCapital #EgyptianStartups #LinkedInCreators #InnovationEcosystem

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Unlocking Investment Potential: The China-Saudi Arabia Cross-Border Index In an era of deepening global economic integration, the relationship between China and Saudi Arabia is evolving rapidly, particularly in energy, trade, and investment. The China-Saudi Arabia Cross-Border Index, developed by Caixin Data, is at the forefront of this transformation, providing a valuable tool for investors looking to harness the economic synergies between the two nations. This index capitalizes on the strong economic complementarities that exist: Saudi Arabia’s vast energy resources complement China’s manufacturing and technological prowess. With bilateral trade exceeding $100 billion annually, the potential for collaborative growth is substantial. What makes the Cross-Border Index particularly compelling is its innovative design. By selecting the most representative stocks from both countries, the index offers a diversified investment portfolio that balances risk and reward. Moreover, @Caixin Data employs advanced artificial intelligence to enhance stock selection, utilizing machine learning to identify trends and optimize asset allocation. This cutting-edge approach not only improves investment outcomes but also streamlines the decision-making process. For Saudi investors, the China-Saudi Arabia Cross-Border Index represents a unique opportunity to engage with the rapidly growing Chinese market while benefiting from the stability of the Saudi economy. As both countries continue to strengthen their economic ties, this index stands as a strategic asset for unlocking new investment opportunities and fostering sustainable growth.

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Egypt based Cartona raises $8.1 million even as investors are pulling back from B2B e-commerce in Africa Egyptian B2B e-commerce platform #Cartona has successfully raised $8.1 million in a Series A extension, comprising $5.6 million in equity and $2.5 million in debt. This comes at a time when many investors are pulling back from B2B e-commerce in Africa, making Cartona's achievement even more impressive. Cartona was founded by Mahmoud Talaat and Mahmoud Abdelfatah. Despite a challenging market environment, Cartona has almost reached full EBITDA profitability, a significant milestone for any startup. The latest funding round was led by Algebra Ventures, with participation from Silicon Badia, SANAD Fund for MSME, Camel Ventures, and GlobalCorp-. Cartona operates in the fast-moving consumer goods (FMCG) industry and has recently expanded into the HORECA (hotel, restaurant, cafe/catering) sector. The company leverages an asset-light model, which has proven to be a strong factor in its push towards profitability. By enhancing the efficiency of existing suppliers and wholesalers rather than competing against them, Cartona has built a robust marketplace connecting these suppliers with over 180,000 retailers across 17 Egyptian cities. Cartona’s annualized gross merchandise volume (GMV) has grown significantly, reaching about EGP 10 billion ($210 million), up from EGP 2.3 billion ($120 million) in 2022. The HORECA vertical, although currently a small part of the business, has shown promising growth with higher take rates and average order values compared to the FMCG sector. With a scalable infrastructure and a commitment to financial inclusion through embedded finance options, Cartona is poised to continue its growth trajectory. The platform has also contributed significantly to financial inclusion by offering inventory financing to small merchants, with over 20% of its GMV now involving credit transactions. Despite the challenges, the Egyptian retail market remains a massive opportunity. With over 400,000 shops and a sector growing annually by 8%, the potential for further digitalization and growth is enormous. Cartona's innovative approach and strategic use of technology position it well to capitalize on this opportunity and drive significant value for retailers, suppliers, and investors alike. The article on TechCrunch in the first comment. Want to stay up to date with the market? Here my newsletter: - Linkedin: https://lnkd.in/d4h8zqKA  - Substack: https://lnkd.in/dzfGJzmW

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1/ MTF (Margin Trading Facility): More than just a tool for traders, it’s a growing business model for brokers. The focus on MTF isn’t just about giving traders leverage—it’s about brokers tapping into interest earnings. Here’s how MTF works, why it’s growing, and how you can use it effectively 🧵 2/ Why are brokers pushing MTF? MTF allows traders to buy stocks with borrowed funds, and brokers earn interest on these loans. With cash market volumes being actively promoted by SEBI, MTF has become a lucrative offering for brokers as they capitalize on financing trades. 💰 3/ But as traders, we need to be smart. Leverage can be your best friend or your worst enemy. With MTF, you can buy stocks with 2x to 2.5x leverage, but only if you pair it with solid risk management. Don’t fall into the trap of treating MTF as “easy money.” It’s far from it. ⚠️ 4/ Diversify with a portfolio approach. Never put all your leverage into a single stock—it’s a disaster waiting to happen. Build a diversified portfolio of liquid F&O stocks to reduce concentration risk. A portfolio approach ensures you’re not overly exposed to one bad trade. 📊 5/ Use pledging smartly for hedging. After buying with MTF, pledge your stocks to generate margin. Use this margin to: •Buy protective puts to safeguard your downside. •Or short futures if markets turn against you. This way, you mitigate risks and stay in control even during volatile markets. 🛡️ 6/ Minimize charges—here’s a trick. Every time you pledge a new ISIN (stock), you incur charges. Avoid these by keeping one share pledged while selling the rest. This ensures you don’t pay extra charges when rebalancing or exiting trades. Efficiency matters when every rupee counts. 💸 7/ Don’t rely solely on momentum. Momentum trading can work, but it’s risky with leverage. A bearish market can quickly turn gains into steep losses. Always combine momentum strategies with hedging through F&O instruments. Momentum + Hedging = Survival. 🧩 8/ The reality: Brokers win, traders lose without discipline. MTF makes sense for brokers because they earn interest regardless of market direction. For traders, it only makes sense when paired with proper hedging and portfolio management. Blindly using leverage without a plan? That’s a losing game. 🔑 9/ Why is this growing now? SEBI and brokers are actively pushing cash market participation, and MTF is a big part of this. But as traders, don’t get caught up in the hype. If you’re long-only with MTF and markets turn bearish, it’s a fast track to losses. Hedge or regret later. ⚠️ 10/ Final thoughts: MTF is a powerful tool, but it’s also dangerous if misused. Think of it like fire—it can cook your meal or burn your house down. Use MTF with a portfolio approach, always hedge your risks, and keep an eye on costs. If done right, it can work wonders. 🚀

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JORDANIAN STARTUPS, LET'S HAVE A CHAT! Dedicating next week to have conversations with Jordanians, who are building tech startups, at the MVP stage and beyond. I am part of the team at Flat6labs, a regional venture capital firm investing in tech and tech-enabled startups. The aim of the conversation is to learn more about what is being built in Jordan and explore potential investment opportunities. If you are interested or know someone who might be a good fit for this, drop a comment or directly reach out on DMs.

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Here's the MENA VC and Investments news you missed out on last week 👇 🤝 New Fund 🇪🇬 Egypt-based Sawari Ventures is set to launch its second fund, “Sawari Ventures II,” in early 2025, aiming to raise $200 million, with $140 million earmarked for Egyptian startups over the next 4-5 years, primarily supporting Series A and B stages, alongside seed investments. Founded by Ahmed El Alfi, Hany Al-Sonbaty, and Wael Amin, Sawari currently manages a $69 million Egypt-focused fund and a $71 million North Africa-focused fund, backing over 30 companies like Swvl and Instabug. Sawari also co-founded Flat6Labs, a major MENA accelerator supporting over 500 startups. The new fund will include an Egypt-focused component to mobilise local capital and an international fund to attract foreign investment for startups across Egypt, Tunisia, Morocco, Kenya, and West Africa, with priorities in fintech, edtech, healthtech, cleantech, and deeptech. 🌍 Global Investments 🇵🇰 COLABS, a Pakistani workspace platform, has raised $2 million in pre-Series A funding led by Shorooq Partners, with Waad Investment also participating. This brings the company’s total funding to over $5 million. Colabs plans to use the funds to expand into Saudi Arabia, where it has already completed its registration. Founded in 2019 by Omar Shah and Ali Shah, Colabs operates 10 locations with 5,000+ seats, serving clients like EY, Coca-Cola, and Endeavour. The company has also partnered with the Pakistan Air Force to support tech companies in the aerospace sector. 🇬🇧 Salica Investments’ Oryx Fund has invested in Neuphonic’s $3M pre-seed round, alongside Moonfire, Tiny VC, and Cur8 Capital. Neuphonic is building a ultra low latency text-to-speech system to create the most natural, responsive conversations with AI possible. The investment will support Neuphonic’s expansion into the GCC, where its technology will address the region’s diverse linguistic needs. The startup was founded by Sohaib A. and Jiameng Gao, earlier this year. 🤝 New LPs 🇯🇴🇸🇦 Riyadh-based Rua Growth Fund I LP has received a $5 million investment from Jordan’s ISSFJO - Innovative Startups and SMEs Fund to support local startups. Managing Partner Turki Aljoaib highlighted that the fund targets sectors such as marketplaces, fintech, enterprise solutions, and SaaS. The investment strengthens RUA’s strategy of investing in early-stage and growth-stage companies, and will look to further bridge opportunities between Jordan and Saudi Arabia. This marks ISSF’s sixth investment this year, following backing for MSA Novo’s MENA Fund, Propeller Ventures II, and Global Ventures' Fund III. *************************** 🐢 Get a weekly MENA VC and investments roundup, as well as the most interesting startup and tech stories from the region, direct to your inbox twice a week: https://lnkd.in/eVbWNJNp 📥 #mena #startups #vcfunding #uae #saudi #egypt

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Cartona, an Egypt-based B2B e-commerce platform, has successfully raised $8.1 million in Series A extension financing, led by Algebra Ventures. The funding round saw significant contributions from existing investors Silicon Badia and the SANAD Film Fund for micro, small, and medium enterprises, as well as new participants Camel Ventures and GlobalCorp-. This investment includes $2.5 million in debt and $5.6 million in equity. Founded in 2019 by Mahmoud AbdelFattah, Mahmoud Talaat, and Rafik Zaher, Cartona aims to revolutionize Egypt's traditional trade industry by connecting small retailers, fast-moving consumer goods producers, wholesalers, and distributors through its digital platform. The newly acquired funds will be used to accelerate the company's expansion, increase market share, and explore new business opportunities in the Middle East and North Africa. Cartona's CEO and co-founder, Mahmoud Talaat, highlighted the company's commitment to transforming the trade market and creating value for all stakeholders. Talaat emphasized that Cartona's growth strategy includes expanding its market penetration in Egypt and replicating its successful business model in other regional markets to enhance accessibility and ease of trading for retailers and suppliers. Omar Khashaba, general partner at Algebra Ventures, praised Cartona for its capital-efficient model, which has driven strong growth and profitability even during economic downturns. Khashaba noted that Cartona's asset-light approach allows for scalable infrastructure and rapid market entry, while also promoting financial inclusion in the retail sector through inventory financing options. #Cartona #Ecommerce #SeriesAFunding #StartupGrowth #Investment #B2BPlatform #Egypt #MiddleEast #DigitalTransformation #FinancialInclusion To read more: https://zurl.co/ZSs0

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Q1 2024 MENA VC FUNDING Q1 2024 has seen a significant drop in funding by 60% YoY, compared to the same period in 2023. This marks the steepest decline among all EVM regions. We've seen a dip in both non-MEGA deal funding by 35%, and a sharper decline in MEGA deal funding by 76% YoY. Interestingly, deal flow has been declining at a faster rate than funding throughout 2023, ending the year with a 32% YoY decrease. This follows a global trend of eight successive quarters of declining deal flow. It seems the MENA region is echoing this pattern with a similar, but slower, decline compared to 2023. Here the link to MAGNiTT's Q1 2024 Quarterly Update: https://lnkd.in/d7HvdCVh #MENA #Funding #Q12024 #VC

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Interesting insights from market experts, great takeaways as well from similar stories globally!💡 Happy to see Connect Money’s recent announcement paving the way for some positive vibes in our region’s investment scene🤞🏽💳. #embedded_finance #fintech #africa #BaaS

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Egyptian Fintech Company MNT-Halan Secures $157.5 Million For International Expansion Egyptian fintech company MNT-Halan, has raised $157.5 million in funding to support its imminent geographical expansion. This latest funding round includes $40 million from the IFC - International Finance Corporation (IFC), alongside investments from Development Partners International, Lorax Capital Partners Capital Partners, and funds managed by Apis Partners LLP, Lunate, and GB Corp. Read more👇 #fintech #MNTHalan #internationalfinancecorporation Andre Valavanis Saif Eldin Ascar Omar Ramadan Walid Abdel-Wadood

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Cartona Secures $8.1 Million in Series A Extension Cartona, Egypt’s leading B2B e-commerce platform, has raised an $8.1 million Series A extension, bringing its total Series A funding to $20.1 million. This round includes $5.6 million in equity and $2.5 million in debt, led by Algebra Ventures, with participation from existing investors Silicon Badia and the SANAD Fund for MSME, and contributions from Camel Ventures and GlobalCorp-. Key Highlights: ⁍ Funding Amount: $8.1 million Series A extension ⁍ Total Series A Funding: $20.1 million ⁍ Investors: Algebra Ventures, Silicon Badia, SANAD Fund for MSME, Camel Ventures, GlobalCorp ⁍ Founders: Mahmoud Talaat and Mahmoud Abdel-Fattah Moursy ⁍ Reach: Over 188,000 retailers in 17 cities ⁍ Objective: Expand footprint, refine product offerings, explore new business areas ❝ Mahmoud Talaat CEO Mahmoud Talaat emphasized that the investment will enhance Cartona’s platform capabilities and customer value, solidifying its position in the B2B e-commerce landscape in Egypt and the MENA region. #Ecommerce #B2B #InvestmentNews #Cartona #Egypt #MENA #Startups #BusinessNews

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Implications for the Debt Market - The influx of international investment, highlighted by significant bids for Egyptian Treasury bills, reflects renewed confidence in Egypt's debt instruments. As demand increases, this could potentially lead to decreased yields, as evidenced by the drop from 32% to 26% in bond yields. The spike in interest demonstrates that while Egypt is considered high-risk, the high returns are attractive to investors willing to gamble on stability due to international support. If sustained reforms lead to economic stability, enhanced financial inflows and adherence to IMF conditions, like floating the currency, could improve Egypt's credit rating. Implications for the Commodities Market - The devaluation of the Egyptian pound makes domestic commodities cheaper for foreign buyers, potentially boosting exports. However, it also increases the cost of imports, affecting local markets and possibly leading to inflationary pressures. Egypt's significant role in the Suez Canal and its geopolitical position can influence global commodities flow, especially during regional instability. Stability in Egypt could mean more secure and predictable commodities trading through these critical routes. The commitment to infrastructure spending and economic reforms under the bailout conditions could foster better economic conditions, influencing commodities like construction materials and energy. Broader Economic Implications - With the IMF's involvement and new financial backing, Egypt might push forward necessary economic reforms, which could lead to a more sustainable economic environment and encourage domestic and international business growth. The renewed investor interest could signal the market of Egypt's potential return to a more orthodox economic policy. However, adhering to reforms could reverse these gains. Overall, the immediate market reactions are positive, signalling a period of potentially reduced risk and increased investor confidence in Egypt. However, the long-term effects will heavily depend on Egypt's adherence to reform and the stabilisation of its economic policies. #egypt #commodities #currency #economy #debt

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