Company Insights Wamda Banking & Finance Wamda Overview Wamda was established in 2010 by Fadi Ghandour, a Lebanese-Jordanian businessman. A platform that builds and invests in “entrepreneurship ecosystems”, it offers research and community development, organises networking events and offers corporate and government advisory services. In 2015 Wamda launched Wamda Capital Fund 1, one of the region’s first venture capital funds. The $70 million fund, anchored by the IFC, invested in businesses across Mena. Successful exits include Careem, Twiga and Mumzworld. Ghandour used his own capital to back the launch of Wamda Evergreen in 2019, supporting technology startups. It has invested in more than 67 companies, including Tabby, Eyewa and Hala. In June, Wamda Capital backed UAE-based AI startup Qeen.ai in its seed funding round. As well as Wamda, Ghandour founded and chairs Ruwwad for Development, a private-sector led community engagement platform helps communities across several countries in the Mena region “overcome marginalisation through activism, civic engagement, education and financial inclusion”. Wamda News Opinion Entrepreneurs Top Middle East startup trends for 2025 Investors will continue to be hesitant, but funding activity is likely to pick up after the cut in US interest rates January 6, 2025 Tech Astra Tech secures $500m funding for lending platform Dubai technology company Astra Tech has secured $500 million in financing for its fintech subsidiary, enabling it to further expand its consumer lending platform. Quantix Technology Projects, which in July was the first UAE-based fintech to receive a finance licence from the UAE central bank since 2008, secured the financing from Citi, in what is […] December 11, 2024 Banking & Finance $50m Abu Dhabi tech fund receives PIF investment Abu Dhabi venture capital firm Iliad Partners is closing a $50 million fund that will target early-stage business-to-business tech startups in the Middle East and North Africa (Mena) region. The Tech Ventures Fund I will primarily focus on fintechs, logistics and property-related technology in Saudi Arabia and the UAE at the Pre-Series A and Series […] December 11, 2024 Real Estate Property app Stake to launch in Saudi Arabia A fractional-ownership platform that enables investors to own parcels of real estate for as little as SAR500 ($134) is to launch in Saudi Arabia on December 9. Based in Dubai, Stake offers investors the opportunity to buy parts of residential and commercial properties. Fractional property ownership is a rising trend in the global real estate market. […] December 6, 2024 Opinion Tech Time to give some of that fintech funding to R&D Governments must help the private sector to fund more complex tech research December 4, 2024 Retail Saudi eyewear retailer secures $100m for expansion Saudi eyewear retailer Eyewa has raised $100 million in a series C funding round as it expands production and its footprint on the ground. The funding was led by global investors General Atlantic alongside Dubai-based Badwa Capital and Singapore’s Turmeric Capital. Eyewa said the capital will be used to open at least 100 new stores […] November 27, 2024 Analysis Banking & Finance Saudi Arabia pumps funding into startups as it vies for Mena No 1 Saudi Arabia is piling money and government support into its venture capital industry as it competes with the UAE to attract startups. The VC market across the Middle East and North Africa raised $1.3 billion from January to September 2024 – and Saudi Arabia “led the region”, said startup analyst Magnitt. The kingdom secured “39 […] October 22, 2024 Opinion Finance Look at the fall in startup investment. Now take a closer look… No-context numbers don't tell the whole story on Mena startups. Here are some reasons to be hopeful September 18, 2024 Analysis Banking & Finance Funding flows to fintechs wooing Egypt’s eager borrowers Egyptian financial technology entrepreneurs bagged the highest amount of funding in the Middle East and North Africa in July, as they targeted untapped opportunities among the country’s massive unbanked population. Egyptian startups as a whole raised $185 million across seven deals in July, a huge surge from $15 million raised through four deals the month […] September 2, 2024 Banking & Finance $200m fund for Gulf startups launched by Saudi investors A group of Saudi family offices and investors have launched a SAR750 million ($200 million) Gulf-focused startup investment fund called Waad. The fund brings together Saudi investor Yaser AlGhamdi, who is the new fund’s CEO, the AlMajed family office, which owns the Al Majdiah Group, and the AlMisfer family office, which owns the Saudi Real […] August 28, 2024 Posts navigation 1 2 … 7 Next
Opinion Entrepreneurs Top Middle East startup trends for 2025 Investors will continue to be hesitant, but funding activity is likely to pick up after the cut in US interest rates January 6, 2025
Tech Astra Tech secures $500m funding for lending platform Dubai technology company Astra Tech has secured $500 million in financing for its fintech subsidiary, enabling it to further expand its consumer lending platform. Quantix Technology Projects, which in July was the first UAE-based fintech to receive a finance licence from the UAE central bank since 2008, secured the financing from Citi, in what is […] December 11, 2024
Banking & Finance $50m Abu Dhabi tech fund receives PIF investment Abu Dhabi venture capital firm Iliad Partners is closing a $50 million fund that will target early-stage business-to-business tech startups in the Middle East and North Africa (Mena) region. The Tech Ventures Fund I will primarily focus on fintechs, logistics and property-related technology in Saudi Arabia and the UAE at the Pre-Series A and Series […] December 11, 2024
Real Estate Property app Stake to launch in Saudi Arabia A fractional-ownership platform that enables investors to own parcels of real estate for as little as SAR500 ($134) is to launch in Saudi Arabia on December 9. Based in Dubai, Stake offers investors the opportunity to buy parts of residential and commercial properties. Fractional property ownership is a rising trend in the global real estate market. […] December 6, 2024
Opinion Tech Time to give some of that fintech funding to R&D Governments must help the private sector to fund more complex tech research December 4, 2024
Retail Saudi eyewear retailer secures $100m for expansion Saudi eyewear retailer Eyewa has raised $100 million in a series C funding round as it expands production and its footprint on the ground. The funding was led by global investors General Atlantic alongside Dubai-based Badwa Capital and Singapore’s Turmeric Capital. Eyewa said the capital will be used to open at least 100 new stores […] November 27, 2024
Analysis Banking & Finance Saudi Arabia pumps funding into startups as it vies for Mena No 1 Saudi Arabia is piling money and government support into its venture capital industry as it competes with the UAE to attract startups. The VC market across the Middle East and North Africa raised $1.3 billion from January to September 2024 – and Saudi Arabia “led the region”, said startup analyst Magnitt. The kingdom secured “39 […] October 22, 2024
Opinion Finance Look at the fall in startup investment. Now take a closer look… No-context numbers don't tell the whole story on Mena startups. Here are some reasons to be hopeful September 18, 2024
Analysis Banking & Finance Funding flows to fintechs wooing Egypt’s eager borrowers Egyptian financial technology entrepreneurs bagged the highest amount of funding in the Middle East and North Africa in July, as they targeted untapped opportunities among the country’s massive unbanked population. Egyptian startups as a whole raised $185 million across seven deals in July, a huge surge from $15 million raised through four deals the month […] September 2, 2024
Banking & Finance $200m fund for Gulf startups launched by Saudi investors A group of Saudi family offices and investors have launched a SAR750 million ($200 million) Gulf-focused startup investment fund called Waad. The fund brings together Saudi investor Yaser AlGhamdi, who is the new fund’s CEO, the AlMajed family office, which owns the Al Majdiah Group, and the AlMisfer family office, which owns the Saudi Real […] August 28, 2024
