Sharikat Mubasher

Mubasher Partners with the
Arab Federation of Capital Markets
(AFCM) and Fintech Galaxy
to fuel Financial Inclusion

fintechubTopSectionDes

launchCorporateInnovation

launchCorporateInnovationDesc

fintechubExerimentCloud

fintechubExerimentCloudDesc

fintechubFintechCommunity

fintechubFintechCommunityDesc

fintechubTrendingFintechs

Manafa Capital

Lending and crowdfunding

Saudi Arabia

Manafa Capital known as Manafa , is a Saudi Fintech startup operates in crowdfunding platform that allows investors to diversify their portfolios by investing in emerging companies in the region. Manafa Established in 2018 & Based in Riyadh, Saudi Arabia.

Emkan Alarabiya Co

Personal finance management

Saudi Arabia

Emkan Alarabiya Co is a Saudi Fintech Crowdfunding that operates within the Financial Services Sector. Emkan Alarabiya Established in 2018 & Based in Jeddah, Saudi Arabia.

Wethaq Capital Market Platform JSC

Capital market and assset Management

Saudi Arabia

Wethaq Capital Market Platform JSC Known as Wethaq is a Fintech startup Provides Distributed Ledger Technology (DLT) to arrange the Offering of Securities and Custody Services. Wethaq Established in 2016 & Based in Riyadh, Saudi Arabia.

Mekyal Financial Technologies

Lending and crowdfunding

Saudi Arabia

Mekyal Financial Technologies Co Known as Mekyal is a Saudi Fintech Crowdfunding Co. that operates within the Financial Services Sector Mekyal Established in 2020 & Based in Riyadh, Saudi Arabia.

Mozn

Big data analytics and atrificial intelligence

Saudi Arabia

Mozn Systems for Communication and Information Technology Known as Mozn is a Saudi AI Startup, It is Operating within Artificial Intelligence products and solutions to empower enterprises in making critical decisions. Mozn Established in 2015 based in Riyadh , Saudi Arbia.

Media and News

More News

May 04, 2023

Egyptian Fintechs dominate Forbes Middle East’s 2023 list; Fawry leads

Mubasher: Egypt has been the most represented country in Forbes Middle East’s list for 2023, which features 30 regional Fintech businesses in the region. Eight Egyptian fintechs were on the list, followed by Saudi Arabia with six entries. Meanwhile, the UAE and Kuwait participated with five companies, each. E-payment platform Fawry for Banking Technology and Electronic Payments, which is listed on the Egyptian Exchange (EGX), topped the list of the 30 fintechs. The company processed transactions worth $6.8 billion and served 49.40 million customers in 2022. It is worth noting that Fawry’s consolidated net profits after tax surged annually to EGP 327.05 million in 2022, including minority shareholders' rights. Raya Holding for Financial Investments’ subsidiary Aman Holding in addition to Paymob were also among the Egyptian fintechs on the list. Aman Holding earlier unveiled immense investments of EGP 90 million in 2022, besides launching a money market fund to support unbanked customers. Last month, Paymob announced its partnership with MBC Group’s Shahid to endorse video-on-demand services in the Egyptian market. From Jordan, MadfooatCom was the second on Forbes Middle East’s 30 fintehcs list, with more than 3.6 million active users and transactions totalling $14.7 billion in 2022. Several businesses secured funding, including Egypt’s MNT-Halan, which raised $200 million from Chimera Abu Dhabi in February 2023 to become the latest unicorn from the region. Tabby, which has headquarters in Saudi Arabia and the UAE, secured an investment worth $58 million in a Series C funding round in January 2023; a transaction that brought its valuation to $660 million. In March 2023, Saudi Arabia’s Tamara announced a debt facility amounting to $150 million from Goldman Sachs, bringing its total funding in equity and debt to $366 million. Forbes Middle East stated: “The companies on our 2023 list of the Middle East’s top Fintechs confirmed having zero or limited exposure to Silicon Valley Bank (SVB) and are expecting it to have a minimal impact on regional players.” It noted: “The global banking and finance system is still reeling from the bank’s collapse and the potential longer term effects are still playing out. SVB was also a lender, banking partner, and payments technology provider. SVB’s clients accounted for 71% of all Fintech IPOs between 2020 and 2022.

May 05, 2023

MEA-focused Pyypl rolls out micro-investment platform

Mubasher: Pyypl, a Middle East and Africa (MEA) focused fintech, has announced the commercial rollout of its social and micro-investment platform that will support self-employed entrepreneurs in addition to micro, small, and medium-sized enterprises (MSMEs) in Africa. The company seeks to offer financial services to 800 million financially underserved smartphone users in MEA through internationally accepted virtual and physical prepaid cards as well as instant domestic and international user-to-user transfers besides remittances to 42 currency destinations, according to a press release. Through an initial partnership with Kenya’s Tuk Tuk Operators Network (TTON), the platform aims to endorse the digitalisation of Tuk Tuk operators across 47 counties through Pyypl’s virtual debit cards, which will have a direct positive impact on TTON’s growth. Pyypl, which is pronounced as people, witnessed a threefold increase in its revenues during the four-month period from October 2022 to January 2023, inclusive, and were eight times higher than 2021. The fintech startup’s App 2.0 launched in eight different languages, while its prepaid card was transacted at 30,000 different merchants in 150 countries and 100 different currencies. CEO of Pyypl, Antti Arponen, said: “We are proud to partner with the Tuk Tuk Operators Network to provide short-term, fair and transparent investment alongside Pyypl’s leading digital financial services to the benefit of its members across Africa.” Arponen noted that the partnership “demonstrates the huge opportunity for Pyypl’s debentures platform as we build out partnerships across multiple African countries.” Pyypl expected that organisations like the World Bank and International Finance Corporation would be part of the investors in the near future. In 2022, Pyypl closed its target series B raise of $20 million from international and existing investors.

May 06, 2023

Saudi Arabia-based STV unveils Total Growth platform during LEAP 2023

Riyadh – Mubasher: MENA-focused independent investment firm STV has launched its Total Growth platform to drive the growth of tech firms in the region through both equity and debt, according to a press release. Backed by Saudi National Technology Development Program (NTDP), the new entity aims to endorse tech ventures with more than $150 million in initial commitments. Meanwhile, STV Total Growth will provide founders with access to a range of funding solutions that meet their needs throughout their growth journey. The investment firm announced the debt and equity funding platform during the LEAP 2023 event, which is being held at Riyadh Front Exhibition and Conference Centre during 6-9 February 2023. Established in 2018 by Abdulrahman Tarabzouni, STV backed a total of 30 fast-growing companies. According to a recent report, the firm expected that the MENA region is set to develop 45 unicorns by 2030, with a $100 billion value opportunity. It also predicted the emergence of the coming tech alpha from the MENA region to the globe.