UAE-based alternative investment company Gulf Islamic Investments (GII) has added an additional $100 million growth capital to the group’s balance sheet to develop private equity opportunities across the Kingdom of Saudi Arabia and the GCC.

Gulf Islamic Investments Secures $100 Million in Growth Capital

Gulf Islamic Investments (GII), a UAE-based alternative investment firm, has raised $100 million in new growth capital. This funding aims to expand private equity (PE) opportunities in Saudi Arabia and the wider GCC region. Contributors include the Al Nahdi family office, Shurooq (Sharjah Investment and Development Authority), and current GII stakeholders. Expanding GII’s Reach Ahead of FII8 in Riyadh The oversubscribed capital round strengthens GII’s balance sheet. It aligns with the Financial Investment Initiative (FII8) in Riyadh, October 29-31, 2024. This raise supports Saudi Arabia’s Vision 2023 and regional growth ...
lucky

Cairo-Based Fintech Lucky One Secures $3 Million Funding

New Funding Round Details Cairo-based fintech startup Lucky One has raised $3 million in a new funding round. On Tuesday, the company announced that it secured this financing through a convertible note. Existing investors, including Lorax Capital Partners, KEM, and DisrupTech Ventures, led the round. Evolution from Loyalty Solutions to Consumer Credit Dsquares founded Lucky One in 2019 as a provider of loyalty and rewards solutions. Initially, Lucky One leveraged its network of discount and rewards partners to launch as a consumer product. Over time, the company evolved to offer ...
verbatica

Verbatica, UAE Startup, Raises $700,000 from Angel Investors

In a significant boost for entrepreneurship, UAE-based startup Verbatica has raised $700,000 in angel investments. This funding will enhance its educational platform for teaching English and Arabic. Verbatica plans to make a big impact in the Middle East and North Africa (MENA) market. Additionally, the company is preparing for a $2 million funding round in November 2024. It also aims to expand its services into Indonesia and other parts of Asia. Adaptive AI and Teacher Insights: A Winning Combination Verbatica, co-founded by Nikita Savilov and Nikolay Morozov, combines insights from ...

Educatly Raises $2.5M to Expand in MENA and Africa

Educatly, a leading global higher education network, has successfully raised $2.5 million in its latest funding round. Notably, this round was spearheaded by TLcom Capital and Plus VC, with additional participation from Egypt Ventures and the HBAN syndicate from Ireland. Expanding Reach in Middle Eastern and African Markets This new investment not only strengthens Educatly’s presence in key markets across the Middle East and Africa but also sets the stage for significant growth. Specifically, the funding will support expansion efforts in Egypt, Saudi Arabia, the UAE, Nigeria, Kenya, and Ireland ...
Intelmatix

Intelmatix secure $20 Million Series A: A New Era for AI in MENA

Intelmatix  a leading deep-tech AI company, has recently secured $20 million in Series A funding. Notably, Shorooq Partners led this landmark round, marking the largest AI Series A funding in MENA. This significant investment demonstrates strong support for AI innovation in the region. Landmark Investment In addition, Shorooq Partners took the lead in this funding round, with substantial contributions from Saudi Venture Capital Company (SVC), STV, Olayan Financing Company, Zain Group, Sultan Holdings, and Rua Growth Fund. Consequently, this broad support clearly shows high confidence in Intelmatix’s potential and its ...

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