Author: Neelabja Adkuloo
Source: LinkedIn COVID-19 may have disrupted the growth of coworking spaces in Dubai, but things are getting back on track as auditoriums, cafes, and community spaces gradually open up. According to a 2020 report by the Observer Research Foundation, the coworking industry generates annual revenue of $194K. While various players in the market offer unconventional coworking spaces across the city, WitWork has disrupted the segment in a unique way. WitWork co-founders Najee Syriani and Cynthia Helena Rif started the company in March 2018 to meet the rising need for access to collaborative workspaces in Abu Dhabi. They believe that the…
Source: Sympl Sympl –Egypt’s first Save Now Pay Later offering– picked up $6 million in a seed round led by Dany Farha (Beco Capital founder), Karim Beshara (A15 founder), and Leonard Kirtman (Global Ventures founder), only five months after the startup’s launch in August 2021. Co-founded by Mohamed El-Feky, Yasmine Henna, and Karim Tawfik, Sympl has onboarded over 240 retailers in Egypt, including the biggest Sony-Playstation reseller XPRS, hypermarket Hyprone, Apple-authorized reseller Tradeline, and automobile e-store Your Parts. Tawfik said the company plans to use the fresh funds to secure partnerships with more than 1000 stores in Egypt, increase staffing,…
Source: MenaBytes ZoodPay, the biggest e-lending platform for eCommerce in Asia and the Middle East acquired Pakistan-based Tez Financial Services on May 26, 2022 with the goal of serving Pakistanis who have limited access to credit. A Switzerland-based Buy Now Pay Later (BNPL) service, ZoodPay has paved the way for Pakistan’s first mergers and acquisitions deal in the country’s young fintech industry. The financial details of the acquisition were not undisclosed. Founded by Naureen Hyat and Humza Hussain in 2016, Tez Financial Services provides nano-loans to Pakistanis in locations that are underbanked or unbanked. Operating in 160 cities, it is…
Source: Islamabad Scene Tazah Technologies, a B2B marketplace for fresh fruit located in Lahore, has secured an extra $4.5 million in its pre-seed expansion round, bringing the total pre-seed fundraising to $6.5 million. In October, $2 million was raised for Tazah’s pre-seed round. Pakistan’s Fatima Gobi Ventures and Vibe Capital, a company located in the US, jointly led the expansion financing. Shorooq Partners, Nuwa Capital, Ru-net, Alter Global, Julian Capital, Kinnow Capital, Early Grey Capital, and K3 Fund all participated in the financing. Angel investors from Silicon Valley, including Sahil Bloom, Siqi Chen, and Matt Brezina, among others, also took…
Source: KrAsia The eCommerce industry continues to be one of the key drivers of development in the Pakistan startup ecosystem, as most recently noted in the Pakistan Q3 2021 Venture Investment Report. As a result, investor engagement in Pakistan’s eCommerce firms is reaching historic highs. By Q3 2021, Pakistani e-commerce firms had raised about 30% of the nation’s total capital, driven by a 355% year on year increase in financing. The Pakistani startup ecosystem has been adamant about building an ingenious digital infrastructure to support the increased adoption of the internet across the nation. Zarya is an excellent case in…
Imagine getting a movie star to make a public appearance on your special day or getting tips to grow your social media from your favorite influencer. It would be a dream come true for today’s starstruck population. However, with communication overload owing to technology overuse, it’s not uncommon for people’s direct messages and comments to their dream celebrities on social media platforms to go ignored. Fortunately, a new app has disrupted the Silicon Valley of the Middle East, coming as a respite to the star hungry crowd. Dubai-based entertainment startup Starzly, true to its name, connects you or your family…
Source: MenaBytes Lahore-based coworking startup, Colabs, secured $3 million seed funding in a round spearheaded by Fatima Gobi Ventures, Indus Valley Capital, and Zayn Capital. It is the first time these three venture capitalists focused on Pakistan have invested in a startup together. The round was also joined by Kinnow Capital, Muir Capital, Shorooq Partners, Sai Ventures, and angel investors, including William Hockey, Teddy Himler, and Turner Novak. Previously, Colabs had raised $1 million in a pre-seed round. Founded in 2019 by Omar Shah, a former venture capitalist and private equity investor, and his brother Ali Shah, owner of a…
Source: Entrepreneur Gulf BNPL (Buy Now Pay Later) startup Tamara announced on June 29, 2022 that it is set to expand its operations into the UAE. Customers in the UAE are thrilled at the prospect of splitting payments with zero interest at leading retailers. So far, Tamara has onboarded big brands like Shein, Namshi, Styli, Fitness Time, Swarovski, Adidas, IKEA, L’Occitane, Yves Saint Laurent, and Faces. Tamara CEO and co-founder Abdulmajeed Alsukhan believes that the global expansion will help sign on hundreds of more merchants on the BNPL platform in the coming months. Adding that Dubai is a natural second…