FinancialInclusionChallenge’s Post

TLcom Announces Close of Second Early-Stage Fund at $154 Million – Expands Mandate to Egypt Founded in 1999 with offices in Lagos, Nairobi, and London, TLcom Capital LLP has $350 million of assets under management across #Africa and #Europe. With this second fund, TLcom Capital maintains its early-stage, multi-sector focus and expands its mandate beyond Sub-Saharan Africa to #Egypt. TIDE Africa Fund II will make initial investments of $1 million to $3 million, maintaining significant follow-on capacity to support strong portfolio performers into their growth stages where the fund continues to see massive upside potential. https://lnkd.in/dXSw4U-a

FSDAi Nyala Facility, an initiative of FSD Africa Investments, is injecting $1 million into First Circle Capital Africa Fund I, marking a strategic investment in one of Africa’s most promising specialist VC funds. First Circle Capital, led by former fintech executives Selma Ribica and Agnes Aistleitner Kisuule, focuses on early-stage investments in fintech sectors such as insurtech, financial infrastructure, climate fintech, fintech SaaS, regulatory technology, and alternative lending models. The fund has already built a diverse portfolio of 13 companies across seven African markets. The investment is expected to catalyze further institutional support for First Circle, helping it scale its impact on the continent. First Circle’s unique approach combines the founders’ extensive industry networks, operational expertise, and an impressive angel investment track record with a 33x multiple on invested capital (MOIC), positioning them to back Africa's next wave of innovative fintech entrepreneurs. The goal is to expand access to essential financial services for Africa’s underserved consumers and small businesses, fostering economic development and social resilience. As Africa’s fintech sector continues to grow rapidly, with revenues expected to multiply 13 times by 2030, investments like these are crucial in addressing the financial services gaps for the continent’s young and increasingly digital population(press release).

They are serial acquirers of high-profile global tech companies, trading billions of dollars in overseas stocks while launching myriad companies in their home country and bringing companies to their shores to support domestic development. They are the Middle East’s sovereign wealth funds (SWFs). “At the core of SWFs’ dominance lies the vast reservoir of wealth accumulation through the region’s abundant revenue streams, notably oil and gas. This vast pool of capital allows for significant global investments, influencing markets and shaping entire industries,” says Anuj Goel, CFA, CMT of Century Private Wealth . “In recent times, we have observed SWFs in the region diversifying their conservative investment strategies in US Treasury bonds, bank deposits, and real estate assets to riskier and profitable pathways that include new technologies, infrastructure and major development projects, sports, gaming, renewable energy, and tourism,” says Samer Hijazi, Senior Partner- Head of Financial Services, Grant Thornton - UAE. “Mubadala has made significant investments in several UAE-based companies, including Andalusia Labs, Dharma Ltd, Hala, Sarwa, Midchain, and Bayzat,” says Farah El Nahlawi, a research team lead at MAGNiTT. “SWFs have increasingly played a significant role in the regional venture capital landscape. In the UAE, entities like Mubadala have emerged as limited partners in VC firms based in the region while also making substantial investments in game-changing startups such as Tabby, Andalusia Labs, Getir, and Moove,” says Philip Bahoshy, CEO at MAGNiTT.

“Companies in this sector raised SR2.5 billion ($666.02 million) across 10 funding rounds in 2023. This represents substantial growth in the sector, with the investment amount increasing more than sixfold, and the number of funding rounds more than doubling compared to 2022.” - Abdullah Binghannam, Deputy of Financing and Investment at the Capital Market Authority. #gcc #ksa #saudi #vc #investment #fintech #funding #businessmodels #growth #venture #capital #cma #sama #regulatory #compliance #profit

SC Ventures by Standard Chartered and NEXT176 to Launch a Wealth Platform That Makes Financial and Wealth Planning Accessible to All “The UAE and the Middle East are emerging as one of the leading destinations for wealth management globally — whether it’s high net worth income population, Millennials, or Gen Z — there is demand for technologically advanced and highly-customised wealth management tools supported by ongoing financial education,” said Benito Mable, Venture and Strategic Partnerships Lead based in the UAE, SC Ventures. “The assets under management (AUM) in the Middle East rose 16% to US$1.2 trillion in 2022, according to BCG. The region is expected to grow further and remain the fourth-largest wealth hub in the world making UAE a perfect market for our base.” https://lnkd.in/exNh6hGn Alex Manson Vuyo Mpako #fintech #finance #banking #paytech #payments #fintechnews #paymentsnews

🚀 We have mapped out all the new funds launched between January and March. The #MENA region kicked off 2024 raising a total of US $7.5 billion in Q1 alone across various fund types, ranging from venture capital to private equity. 💼 📊 𝗛𝗲𝗿𝗲'𝘀 𝗮 𝗴𝗹𝗶𝗺𝗽𝘀𝗲 𝗼𝗳 𝘁𝗵𝗲 𝘁𝗼𝗽 𝟭𝟬 𝗳𝘂𝗻𝗱𝘀 𝗿𝗮𝗻𝗸𝗲𝗱 𝗯𝘆 𝘀𝗶𝘇𝗲: 1. Oman Investment Authority's Future Fund Oman raised $5.2B 2. Arcapita Ventures' KSA Logistics Fund III raised $500M 3. Team8's Venture-Capital Fund II raised $235M 4. SNB Capital Oil & Gas Fund I raised $230M 5. Africa50 Infrastructure Investment Platform's Acceleration Fund raised $223M 6. Red Dot Capital Partners III raised $200M 7. Vintage Investment Partners Growth IV raised $200M 8. Sawari Ventures Egypt Fund II raised $69M 9. Starknet Foundation Web3 Fund raised $120M 10. Team8's Venture-Creation Enterprise Fund III raised $110M and more... 👇 Dive deeper into these funds that are driving innovation and entrepreneurship, both regionally and globally, in our latest article: 🔗 https://lnkd.in/ga38yAdt ━━━━━━━━━━━━━━━━ #LucidityInsights #TechStartups #Finance #Investment #VentureCapital #PrivateEquity #Infrastructure #MiddleEast #AfricaFund #StartupFunding #FinancialAnalysis #WealthManagement #CapitalMarkets #UnitedArabEmirates #SaudiArabia #Egypt #MEA

The private capital sector in the GCC is experiencing a boom. Pietro Castronovo, Head of Private Capital and Restructuring in India, the Middle East, and Africa, explores the reasons behind this exciting trend in a recent piece for Finance Middle East. In the article, Pietro dives into: • The key factors driving the growth of private capital in the region • The sectors attracting the most investment • The potential implications for businesses and investors Get the full insights here > https://owy.mn/4aQVf3u #PrivateCapital #GCC #Investments

Egyptian based Qardy successfully raised a seven figure pre seed investment #Qardy, #fintech startup acting as digital lending marketplace in Egypt and the MENA region, has successfully secured a seven-figure pre-Seed investment. This significant funding round was led by Sanabil Investments and 500 Global and saw participation from White Field Capital LLC Ventures and Vastly Valuable Ventures, marking a crucial step in the company's growth trajectory. Founded with a mission to provide tailored financial solutions to MSMEs (Micro, Small, and Medium Enterprises), Qardy collaborates with a diverse network of commercial banks, leasing, factoring, and micro-finance companies. Since its soft launch in late 2022, Qardy has garnered over 1,000 corporate clients and facilitated over $12 million in loan transactions. Tamer El-Manasterly, COO of Qardy, emphasized the pivotal role of their investors in the company’s expansion and market penetration. He highlighted that the trust and support from White Field Ventures and Vastly Valuable Ventures are instrumental in enhancing Qardy’s services and accelerating their expansion plans across Saudi Arabia and the broader region. Qardy’s innovative platform addresses the critical financial needs of MSMEs, providing essential working capital and funding for capital expansion. The recent investment will further bolster Qardy's capabilities, enabling it to scale its operations and deliver more impactful financial solutions to businesses in the region. The article on Finextra 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

Moniepoint recently closed a $110 million Series C funding round. Propelling it firmly into Africa’s unicorn club, becoming the continent’s eighth unicorn. Development Partners International (DPI) led this round, other investors include Google’s Africa Investment Fund, Verod, and Lightrock. Founded in 2015 as TeamApt, Moniepoint began by developing software for banks. But a strategic shift to agency banking reshaped its future, putting it on the path to dominate Nigeria’s fintech space. Today, Moniepoint processes over 800 million monthly transactions worth $17 billion—a scale that few others can match. So, why the raise, and why now? Despite Nigeria’s economic turbulence, including currency fluctuations and inflation, Moniepoint has maintained strong growth. A 205% jump in transaction volume in 2023 reflects its resilience. The $110 million investment signals that they’re ready to expand across Africa, starting with Kenya, where they’re set to acquire KopoKopo. For Moniepoint Group, this funding marks the start of a new chapter. CEO Tosin Eniolorunda emphasizes their mission to offer real solutions, not just hype, as they’re reshaping financial access across the continent, one transaction at a time. Want more insights and stories from entrepreneurs around the continent to help make building easier? Subscribe to our newsletter: https://lnkd.in/dFw3dXe

There's a type of tailwind for the global spend management industry. While North America is undoubtedly the largest market in this area, demand for spend management services has increased globally as a result of rising internet usage, technological developments, and #businesses growing emphasis on prudent spending. In an effort to accelerate its #expansion in its native market, Saudi Arabia's Simplified Financial Solutions Company (SiFi), one of the MENA region's spend management platforms, has just secured $10 million in a seed fundraising round. Leading the round were early-stage MENA venture capital firm RAED Ventures and Saudi Arabia's Public #Investment Fund member Sanabil Investments. Ahmed Alhakbani founded #SiFi in 2021 to assist businesses in managing all of their spending, including paying bills and vendors. After obtaining an Electronic Money Institution (EMI) license from the Saudi Central Bank (SAMA) in the previous year, SiFi is hoping to grow. The business intends to use the license to offer a range of services, such as smart corporate cards and e-wallets. Customers can restrict spending at the merchant or location levels and manage how their corporate cards are used thanks to SiFi's offering. #Employees can submit their invoices, expenses, and claims for reimbursement through the site, especially if they do not have corporate cards. According to Alhakbani, the platform assists businesses in avoiding spend management issues such as fraud, human error, improper workflows, delays in approval processes, and a lack of expenditure visibility. It is our belief that SiFi has the potential to significantly enhance the effectiveness of finance departments in providing services to the rest of the #organization. We aim to cover the whole range of spend solutions offered by a company, not only expenses," he declared. He claimed that because SiFi's #technological stack enables it to integrate into any market, the company is developing a solution that would go outside Saudi Arabia. He did point out that there will be a focus on growth outside of #SaudiArabia. SiFi is the latest in a long line of Saudi businesses that have raised a substantial sum of money this year despite a global decline in venture capital activity. As it looks to diversify its sources of income and lessen its dependency on oil, the nation continues to lead the MENA region in venture investment. This is largely due to the government's efforts to foster an atmosphere that is welcoming to #entrepreneurs and companies. www.tycoonstory.com #SiFi #SpendManagement #StartupFunding #TechStartup #SaudiArabia #Investment #BusinessGrowth #Fintech #TechInnovation #StartupSuccess #MiddleEastTech #FinancialTech #FundingNews #VentureCapital SiFi Networks