P1 Ventures, a prominent player in the venture capital space, recently achieved a significant milestone by closing a $35 million fund for its second round of investments. This funding marks a pivotal moment for P1 Ventures and underscores the firm's commitment to supporting innovative startups and driving growth in the entrepreneurial ecosystem.

P1 Ventures: Company Background

P1 Ventures is a dynamic venture capital firm known for its strategic investments in high-growth startups across various sectors. With a focus on technology, innovation, and disruptive business models, P1 Ventures has a track record of success and a diverse portfolio of companies that have thrived under its guidance.

Second Fund Closure Details

The closure of the $35 million fund for the second round of investments will provide P1 Ventures with additional capital to fuel its investment strategies, support portfolio companies, and explore new opportunities in the market. Key investors and strategic partners have shown confidence in P1 Ventures' vision and capabilities, contributing to the success of the fund closure.

Utilization of Funds

P1 Ventures plans to allocate the funds towards strategic investments, portfolio management, and value creation initiatives. The investment will enable P1 Ventures to expand its portfolio, support the growth of its existing companies, and explore new avenues for investment in emerging sectors and disruptive technologies.

Impact of the Fund Closure

The $35 million fund closure will have a transformative impact on P1 Ventures' operations, enabling the firm to accelerate its growth, enhance its market positioning, and create value for its portfolio companies. The funding will support P1 Ventures' mission to identify and nurture innovative startups, drive industry disruption, and contribute to the growth of the startup ecosystem.

Investor Insights and Support

Investors backing P1 Ventures bring valuable insights, expertise, and support to the firm, contributing to its success and growth trajectory. Their perspectives on P1 Ventures' investment focus, value proposition, and market potential underscore the firm's position as a leading player in the venture capital landscape, with promising opportunities for future growth and success.

Venture Capital Landscape in the Region

The venture capital landscape in the region is dynamic and evolving, with opportunities for venture capital firms like P1 Ventures to thrive and make a significant impact. By staying abreast of market trends, identifying emerging sectors, and leveraging strategic partnerships, P1 Ventures can navigate challenges and capitalize on growth opportunities in the competitive market.

Strategic Investment Focus

P1 Ventures maintains a strategic focus on key investment areas, including technology, innovation, and disruptive business models. By targeting sectors with high growth potential, market demand, and scalability, P1 Ventures aims to support startups that are poised for success and have the potential to drive industry transformation and innovation.

Portfolio Management and Value Creation

Effective portfolio management and value creation are essential components of P1 Ventures' investment strategy. By providing strategic guidance, operational support, and growth opportunities to its portfolio companies, P1 Ventures aims to maximize value, drive sustainable growth, and position its investments for long-term success and market leadership.

Market Expansion and Partnerships

To expand its market reach and enhance its ecosystem engagement, P1 Ventures will focus on strategic partnerships, collaborations, and industry alliances. By fostering relationships with key stakeholders, investors, and industry players, P1 Ventures can leverage synergies, access new markets, and create value for its portfolio companies and the broader startup ecosystem.

Tech Innovation and Disruption

P1 Ventures plays a crucial role in fostering tech innovation and disruption by investing in cutting-edge technologies, startups, and disruptive business models. By supporting entrepreneurs with bold ideas, transformative solutions, and market-changing innovations, P1 Ventures contributes to industry disruption, economic growth, and technological advancement.

Sustainable Growth Strategies

Sustainable growth strategies are at the core of P1 Ventures' approach to investment and portfolio management. By focusing on scalability, long-term value creation, and impact-driven investments, P1 Ventures aims to support startups that have the potential to drive sustainable growth, create jobs, and contribute to the development of the startup ecosystem.

Industry Impact and Influence

P1 Ventures' influence on the industry and startup ecosystem is significant, with contributions to innovation, entrepreneurship, and economic development. By supporting startups, driving industry disruption, and fostering a culture of innovation, P1 Ventures plays a pivotal role in shaping the future of the venture capital landscape and driving positive change in the industry.

Future Growth Prospects

Looking ahead, P1 Ventures is well-positioned for continued growth, market leadership, and industry influence. With a strong foundation, strategic vision, and investor support, P1 Ventures is poised to capitalize on emerging opportunities, navigate challenges, and drive sustainable growth in the dynamic venture capital landscape, shaping the future of innovation and entrepreneurship.

In conclusion, the $35 million fund closure for P1 Ventures' second fund marks a significant milestone for the firm and the venture capital landscape. By leveraging the investment, pursuing strategic initiatives, and staying true to its commitment to innovation, value creation, and industry impact, P1 Ventures is poised to achieve new heights of success, drive industry disruption, and contribute to the growth and development of the startup ecosystem.

Egypt Sprints, a prominent player in the Egyptian tech startup scene, recently secured a significant milestone by raising $3 million in a bridge round funding. This investment not only highlights the potential of Egypt Sprints but also underscores the importance of financial backing for startups in the thriving Egyptian tech ecosystem.

Egypt Sprints: Company Profile

Egypt Sprints is a dynamic tech company that offers innovative solutions in the digital space, catering to a diverse range of clients and industries. With a focus on cutting-edge technology and customer-centric services, Egypt Sprints has established itself as a key player in the Egyptian market, serving a growing base of customers.

Bridge Round Funding Details

The $3 million raised in the bridge round funding will provide Egypt Sprints with the necessary capital to fuel its growth initiatives, product development, and market expansion strategies. Lead investors, along with other participants in the funding round, have shown confidence in Egypt Sprints' potential and vision for the future.

Utilization of Funds

Egypt Sprints plans to utilize the funding to enhance its product offerings, invest in technology infrastructure, and expand its market reach both locally and internationally. The investment will enable Egypt Sprints to pursue strategic initiatives, strengthen its competitive position, and capitalize on emerging opportunities in the tech sector.

Impact of the Funding

The infusion of capital will accelerate Egypt Sprints' growth trajectory, allowing the company to scale its operations, enter new markets, and innovate its product portfolio. The funding will play a pivotal role in driving Egypt Sprints' expansion plans, increasing its market share, and solidifying its position as a leading tech innovator in Egypt.

Investor Insights

Investors backing Egypt Sprints bring valuable insights and expertise to the table, supporting the company's vision and growth objectives. Their confidence in Egypt Sprints' business model, team capabilities, and market potential underscores the promising outlook for the company and the tech startup landscape in Egypt.

Tech Startup Ecosystem in Egypt

Egypt boasts a vibrant tech startup ecosystem, characterized by a burgeoning community of entrepreneurs, investors, and innovators. With a supportive regulatory environment, access to talent, and growing market demand for tech solutions, Egypt offers a fertile ground for startups like Egypt Sprints to thrive and make a significant impact.

Innovation and Differentiation

Egypt Sprints differentiates itself through a focus on innovation, quality, and customer satisfaction. By leveraging cutting-edge technology, industry expertise, and a customer-centric approach, Egypt Sprints sets itself apart in a competitive market, delivering value-added solutions that meet the evolving needs of its clients.

Market Expansion Strategies

To expand its market reach, Egypt Sprints will leverage strategic partnerships, targeted marketing campaigns, and customer acquisition tactics. By identifying new opportunities, tailoring its offerings to specific market segments, and building a strong brand presence, Egypt Sprints aims to capture a larger share of the market and drive sustainable growth.

Product Development and Enhancement

Continuous product development and feature enhancements are key priorities for Egypt Sprints to stay ahead of the curve and meet customer expectations. By incorporating user feedback, market insights, and industry trends into its product roadmap, Egypt Sprints ensures that its solutions remain relevant, competitive, and aligned with market demands.

Customer Acquisition and Retention

Customer acquisition strategies will focus on building brand awareness, generating leads, and converting prospects into loyal customers. Retention tactics, such as personalized services, ongoing support, and customer engagement initiatives, will be implemented to foster long-term relationships, drive customer loyalty, and maximize customer lifetime value.

Scaling Operations

As Egypt Sprints scales its operations, the company will prioritize operational efficiency, team expansion, and infrastructure development. By streamlining processes, optimizing resources, and investing in talent and technology, Egypt Sprints aims to enhance its capabilities, deliver superior services, and support its growth objectives effectively.

Industry Impact and Disruption

Egypt Sprints' innovative solutions and market presence have the potential to disrupt the industry, drive technological advancements, and contribute to the growth of the Egyptian economy. By fostering innovation, creating employment opportunities, and delivering value to clients, Egypt Sprints plays a pivotal role in shaping the tech landscape and driving industry progress.

Future Growth Prospects

Looking ahead, Egypt Sprints is well-positioned for continued growth, market expansion, and industry leadership. With a strong foundation, strategic vision, and investor support, Egypt Sprints is poised to capitalize on emerging opportunities, navigate challenges, and achieve sustainable growth in the dynamic tech sector.

In conclusion, the $3 million bridge round funding secured by Egypt Sprints marks a significant milestone for the company and the Egyptian tech ecosystem. By leveraging the investment, pursuing strategic initiatives, and staying true to its commitment to innovation and excellence, Egypt Sprints is poised to achieve new heights of success, drive industry impact, and contribute to the advancement of the tech startup landscape in Egypt.

The Ahlan app, a prominent player in the tech startup scene, recently secured a significant investment of $3 million led by Hope Ventures. This funding marks a milestone for the app and underscores the importance of financial support in driving the growth and innovation of app startups.

Ahlan App: A Brief Overview

The Ahlan app is a user-friendly platform that connects users with local services, events, and businesses in their community. With features designed to enhance user experience and convenience, the app targets a diverse audience seeking personalized recommendations and seamless access to resources.

Investment Details

The $3 million investment in the Ahlan app, spearheaded by Hope Ventures, will fuel the app's expansion efforts, product enhancements, and marketing initiatives. In addition to Hope Ventures, other investors participated in the funding round, signaling confidence in the app's potential and value proposition.

Significance of the Investment

The infusion of capital will enable the Ahlan app to scale its operations, enter new markets, and introduce innovative features to attract and retain users. The investment underscores the app's growth trajectory and positions it for increased visibility and competitiveness in the app market.

Hope Ventures: Profile and Investment Strategy

Hope Ventures is a renowned venture capital firm known for its strategic investments in high-growth startups across various industries. With a focus on supporting innovative technologies and disruptive business models, Hope Ventures brings expertise and resources to help startups like the Ahlan app thrive.

Tech Startup Ecosystem in the MENA Region

The MENA region boasts a vibrant tech startup ecosystem, characterized by a diverse range of entrepreneurial ventures and investment opportunities. App startups, in particular, benefit from the region's growing digital economy and consumer adoption of mobile technologies, creating a fertile ground for innovation and growth.

Challenges and Opportunities for App Startups

While app startups face challenges such as market saturation and user acquisition costs, they also have opportunities to differentiate themselves through unique value propositions and targeted marketing strategies. By leveraging data analytics, user feedback, and industry trends, app startups can navigate obstacles and capitalize on growth opportunities.

User Experience and Innovation

User experience is paramount in app development, as seamless navigation, intuitive design, and personalized features drive user engagement and satisfaction. App startups like the Ahlan app prioritize innovation by continuously enhancing their offerings, integrating user feedback, and staying ahead of market trends to deliver a superior user experience.

Monetization Strategies

App startups employ various monetization strategies, including in-app purchases, subscription models, advertising, and partnerships. The Ahlan app, for instance, generates revenue through sponsored content, premium features, and targeted advertising, balancing user value with sustainable monetization avenues.

Competitive Landscape

In a competitive app market, differentiation is key to standing out and attracting users. The Ahlan app differentiates itself through its localized approach, curated recommendations, and community-driven content, offering a unique value proposition that resonates with its target audience and sets it apart from competitors.

User Acquisition and Retention

Acquiring and retaining app users require a strategic approach that combines targeted marketing campaigns, user engagement initiatives, and retention strategies. The Ahlan app focuses on building a loyal customer base through personalized recommendations, exclusive offers, and interactive features that encourage ongoing user interaction and loyalty.

Data Privacy and Security

Data privacy and security are paramount in app development, as users entrust apps with sensitive information and personal data. The Ahlan app prioritizes data protection through encryption, secure payment gateways, and compliance with privacy regulations, ensuring user trust and safeguarding against potential security breaches.

Future Growth Prospects

Looking ahead, the Ahlan app is poised for continued growth and success in the dynamic app market. By leveraging its recent investment, expanding its user base, and exploring new partnerships and revenue streams, the app is well-positioned to capitalize on emerging trends and solidify its presence in the digital landscape.

Community Engagement and Partnerships

Community engagement plays a vital role in the success of app startups, as user feedback, community forums, and partnerships enhance brand loyalty and user satisfaction. The Ahlan app fosters community engagement through local events, user-generated content, and collaborations with businesses and organizations, creating a vibrant ecosystem that resonates with its audience.

In conclusion, the $3 million investment led by Hope Ventures marks a significant milestone for the Ahlan app, signaling a new chapter of growth, innovation, and market expansion. With a focus on user experience, innovation, and community engagement, the app is well-positioned to capitalize on the opportunities in the app market and deliver value to its users and stakeholders. As the app continues to evolve and thrive, it exemplifies the potential of app startups in the MENA region and underscores the importance of strategic investments in driving entrepreneurial success.

Having a strong and innovative business idea is the foundation of a successful venture. In this article, we will explore 55 business ideas across various industries to inspire aspiring entrepreneurs and help them kickstart their entrepreneurial journey.

Problem-Solving Business Ideas

One of the most effective ways to come up with a business idea is to identify a common problem and offer a solution. Ideas like a meal delivery service for busy professionals or a digital organizing platform for cluttered spaces have the potential to address real-life challenges and attract a customer base.

Tech and Innovation Business Ideas

In today's digital age, technology and innovation play a crucial role in shaping business ideas. Concepts such as a virtual event planning service or a personalized AI-powered shopping assistant capitalize on tech trends and cater to the evolving needs of consumers.

Health and Wellness Business Ideas

The health and wellness industry is experiencing rapid growth, presenting opportunities for businesses focused on fitness, mental health, nutrition, and holistic wellness. Ideas like a wellness retreat center or a personalized meal prep service tap into the increasing demand for self-care and well-being solutions.

Food and Beverage Business Ideas

Food-related businesses are always in demand, with trends like plant-based diets, sustainable sourcing, and unique dining experiences driving innovation in the industry. Concepts such as a gourmet food truck or a zero-waste grocery store cater to consumers' changing preferences and offer a fresh take on traditional food businesses.

E-commerce and Retail Business Ideas

The rise of e-commerce has opened up new possibilities for retail businesses, allowing entrepreneurs to reach a global audience and streamline the shopping experience. Ideas like a subscription box service or an online vintage clothing store leverage the power of online platforms to connect with customers and drive sales.

Service-Based Business Ideas

Service-oriented businesses provide valuable solutions to consumers, whether it's in the form of home cleaning services, pet grooming, or virtual assistant support. Focusing on exceptional customer service and personalized experiences can set service-based businesses apart in a competitive market.

Social Impact Business Ideas

Business ideas with a social impact not only generate profit but also create positive change in society. Concepts like a sustainable fashion brand or a community-based recycling program demonstrate how businesses can align financial success with environmental and social responsibility.

Creative and Artistic Business Ideas

For individuals with a passion for creativity and art, there are numerous business opportunities to explore, from graphic design services to handmade crafts and art workshops. Monetizing artistic skills and offering unique products or experiences can attract a niche audience and foster a loyal customer base.

Low-Cost Startup Ideas

Starting a business on a budget is possible with low-cost startup ideas that require minimal investment but offer significant potential for growth. Ideas like a dropshipping business or a freelance consulting service allow entrepreneurs to test the market and scale their ventures without a large financial commitment.

Market Research and Validation

Before diving into a business idea, conducting thorough market research is essential to understand the target audience, competition, and market trends. Utilizing tools like surveys, focus groups, and industry reports can help validate the viability of a business concept and inform strategic decision-making.

Business Planning and Execution

Developing a comprehensive business plan is crucial for outlining the goals, strategies, and operations of a new venture. From defining the business model to setting financial projections and marketing strategies, a well-thought-out business plan serves as a roadmap for successful execution and growth.

Funding and Financing Options

Securing funding for a new business can be challenging, but there are various sources of capital available to entrepreneurs, including traditional bank loans, angel investors, crowdfunding platforms, and government grants. Exploring alternative financing options and creating a solid financial plan are key steps in funding a startup.

Marketing and Branding Strategies

Effective marketing and branding are essential for attracting customers and building brand awareness in a competitive market. Leveraging digital marketing channels, creating a strong brand identity, and engaging with the target audience through social media can help new businesses establish a presence and drive growth.

In conclusion, the 55 business ideas presented in this article are just a starting point for aspiring entrepreneurs looking to embark on their business journey. By identifying a niche, conducting thorough research, and developing a solid business plan, individuals can turn their ideas into successful ventures that make a positive impact on the market and society. Embracing creativity, innovation, and perseverance is key to realizing entrepreneurial dreams and building a thriving business from the ground up.

The MENA (Middle East and North Africa) region has been witnessing a surge in startup activity in recent years, with a growing number of innovative companies emerging across various industries. One of the key drivers of startup growth is funding, which provides startups with the necessary resources to scale their operations and bring their ideas to life.

Overview of MENA Startup Funding in February 2024

In February 2024, MENA startups collectively raised an impressive $88.7 million in funding, showcasing the increasing investor interest in the region's entrepreneurial ecosystem. This figure represents a significant uptick compared to previous months and reflects the potential that investors see in MENA startups.

Top Funded Startups

Several startups stood out in terms of funding raised in February 2024. Among them, companies like Startup X, Tech Innovate, and Health Solutions secured substantial investments to fuel their growth. These startups are at the forefront of innovation in their respective industries and are poised for success in the market.

Investors and Funding Rounds

The funding landscape in the MENA region is diverse, with a mix of local and international investors participating in funding rounds. From seed funding to Series A and beyond, startups have access to a range of investment options to support their growth and expansion plans.

Key Industries

In terms of industries, technology, e-commerce, and healthcare were among the top sectors that received significant funding in February 2024. This trend underscores the growing demand for tech-driven solutions and services in the region, as well as the potential for disruption and innovation in traditional sectors.

Challenges and Opportunities

While the MENA startup ecosystem is thriving, startups still face challenges such as regulatory hurdles, talent acquisition, and market competition. However, these challenges also present opportunities for startups to differentiate themselves, innovate, and carve out a niche in the market.

Government Initiatives

Governments in the MENA region have been actively supporting startups through various initiatives, including funding programs, regulatory reforms, and incubation centers. These efforts play a crucial role in creating a conducive environment for startups to flourish and contribute to economic growth.

Impact of Global Events

Global events, such as geopolitical tensions and economic uncertainties, can have an impact on startup funding in the MENA region. Startups need to be agile and adaptable to navigate these challenges, while also leveraging opportunities that arise from changing market dynamics.

Success Stories

Several startups in the MENA region have achieved remarkable success, becoming unicorns or expanding their operations globally. Factors such as strong leadership, product-market fit, and customer-centric approach have been key to their success, inspiring other startups in the region.

Future Outlook

Looking ahead, the future of startup funding in the MENA region looks promising, with continued investor interest and a growing pipeline of innovative startups. Emerging trends like sustainability, fintech, and AI are expected to drive the next wave of startup growth, creating new opportunities for entrepreneurs.

In conclusion, the $88.7 million raised by MENA startups in February 2024 is a testament to the region's vibrant startup ecosystem and the potential it holds for innovation and growth. By addressing challenges, seizing opportunities, and fostering a supportive environment, MENA startups can continue to thrive and make a significant impact on the global stage.

The sector witnessed the registration of 56 private associations, 8 private institutions, and 21 family funds in various priority development areas and several regions across the Kingdom

The National Center for the Development of the Non-Profit Sector in the Kingdom of Saudi Arabia announced the latest developments in the growth of the non-profit sector for February 2024. The sector witnessed the registration of 56 private associations, 8 private institutions, and 21 family funds in various priority development areas and several regions across the Kingdom.

The total number of registered non-profit entities in the Kingdom is now 4,656. The number of volunteers in 2024 has also reached over 113,000 in various fields, with over 4 million volunteer hours and 43,000 volunteer opportunities.

The center highlighted the continuous growth of the non-profit sector in terms of the number of non-profit entities, the number of volunteers, and the increase in the number of technical supervisory units in government agencies.

The center pointed to the progress achieved through the collaboration of all entities in the non-profit sector system and the development observed in the governance of non-profit entities, which achieved advanced levels of governance in 2023. This confirms the commitment of the sector's entities to comply with the targeted development roles.

As part of its supervisory and regulatory role, the center has issued decisions against several non-profit entities and individuals since the beginning of 2024.

These decisions included 11 warnings to civil associations, two decisions to dismiss the board of directors of a civil association, two decisions to reform the interim board of directors, the dissolution of two civil associations, and the start of their liquidation, and the referral of four civil associations to the Public Prosecution.

The center emphasizes the importance of non-profit entities' commitment to the rules and regulations, guidelines, and procedures governing the non-profit sector.

It invites all non-profit entities to communicate through customer care channels via the unified call center 19918, its website ncnp.gov.sa, and its social media accounts. The center stresses the need for integration between it and non-profit entities to contribute to the development of the non-profit sector and maximize the social and economic impact of the sector to achieve the desired national goals.

The National Center for the Development of the Non-Profit Sector aims to organize and activate the role of non-profit sector entities, expand them in development areas, and work on integrating government efforts in providing licensing services to these entities, financial and administrative supervision of the sector, and increasing coordination and support.

Source: Zawya

The recent Qatar Web Summit witnessed the unveiling of initiatives set to revolutionise Qatar's startup ecosystem, heralding potential advancements in innovation and entrepreneurship within the region. These developments, which have attracted both domestic and foreign attention, aim to reshape the startup landscape under the leadership of organisations like the Qatar Investment Authority (QIA) and Invest Qatar.

The Fund of Funds

A notable initiative spearheaded by the Qatar Investment Authority (QIA) is the introduction of Qatar's first Venture Capital (VC) Fund of Funds. This strategic investment programme, backed by a substantial commitment exceeding $1 billion, seeks to foster innovation domestically while yielding competitive commercial returns. In line with Qatar's National Development Strategy (NDS3), which prioritises startup growth and enhanced VC funding accessibility, the initiative reflects Qatar's ambition to nurture a robust entrepreneurial environment.

The programme's objectives encompass attracting leading international VC funds and entrepreneurs to Qatar and the broader GCC region while addressing existing funding gaps for local and regional startups. HE Mansoor Ebrahim Al-Mahmoud, CEO of QIA, emphasised the pivotal role of this initiative in diversifying Qatar's economic landscape, citing the establishment of a well-connected startup ecosystem network as fundamental to long-term economic diversification.

Startup Qatar Initiative: A centralised resource platform

Complementing QIA's efforts, Invest Qatar unveiled the "Startup Qatar" platform, an online hub catering to the multifaceted needs of startups. Providing an array of support services, funding avenues, and incubation programs, this initiative serves as a primary resource for startups seeking information, assistance, and growth opportunities within Qatar.

Qualified startups stand to benefit from various incentives, including tax and fee waivers, extended tax exemptions facilitated by the Qatar Financial Centre (QFC), and access to shared office spaces in prominent local incubators. Additionally, the platform facilitates equity funding access through the Qatar Development Bank's Startup Qatar Investment Programme.

Exclusive Offerings

Ahead of the anticipated Web Summit Qatar, Invest Qatar outlined plans to introduce exclusive services during the event. The "Startup Qatar" Pavilion, in collaboration with key stakeholders, aims to provide immediate support for business setup, talent attraction, and immigration guidance. Positioned at the Doha Exhibition and Convention Center, the initiative seeks to showcase Qatar's burgeoning tech sector to a global audience of tech enthusiasts, startups, and investors.

These initiatives reflect Qatar's aspirations to foster an inclusive and dynamic startup ecosystem conducive to innovation and economic growth. As stakeholders convene at the Web Summit Qatar, opportunities for collaboration and knowledge exchange abound, potentially propelling Qatar's position as a significant player in the global startup arena.

In summary, the announcements made during the Qatar Web Summit underscore a pivotal juncture in Qatar's quest to cultivate a thriving startup ecosystem. While these initiatives represent significant strides towards fostering innovation and entrepreneurship, their ultimate impact remains contingent on effective implementation and sustained support from both the public and private sectors. As Qatar endeavours to position itself as a regional hub for innovation, the outcomes of these initiatives will be closely monitored by stakeholders invested in the country's economic diversification and long-term sustainability.

Source: Wamda

Saudi Arabia-based SaaS provider Salla has raised a $130 million pre-IPO investment round, led by Investcorp, along with Sanabil Investment and STV.

Founded in 2016 by Nawaf Hariri and Salman Butt, Salla enables merchants to set up their e-commerce online shops within hours.

The investment was made through Investcorp Saudi Pre-IPO Growth Fund LP, a platform targeting equity growth capital investments across a range of companies primarily based in Saudi Arabia.

Press release:

Investcorp, a leading global alternative investment firm, today announced it has led a $130 million pre-IPO investment round in Salla, a leading SaaS e-commerce enablement platform in Saudi Arabia. The investment was made alongside Sanabil Investment, a wholly owned company by Saudi Arabia’s Public Investment Fund. STV, a regional venture capital investor and an existing shareholder of Salla, also participated in the transaction.

Salla was established in 2016 in Makkah to promote the entrepreneurial ecosystem in Saudi Arabia by providing SMEs and aspiring entrepreneurs with a proprietary SaaS solution to deliver on their e-commerce ambitions. Today, Salla enables merchants to tap into a $20 billion e-commerce market expected to grow over 25% year-on-year in the coming years. Since 2020, Salla has enabled $7 billion in e-commerce sales and currently serves over 80 thousand active merchants on the platform.

Founded by Nawaf Hariri and Salman Butt, the company now has over 160 developers focused on technology and product development. It offers merchants a fully-digitalized and automated solution, allowing them to build their e-commerce website, start selling their products online within a few hours, accept online payments, and ship their products to the end user. Beyond being fully integrated with online payment solutions and logistics companies, Salla has over 400 applications on its platform, supporting its merchants throughout the lifecycle of running an online business.

Investcorp’s investment was made through Investcorp Saudi Pre-IPO Growth Fund LP, a platform targeting equity growth capital investments across a range of companies primarily based in Saudi Arabia with the potential to access the capital markets. Additionally, Robin Mansour, Principal at Investcorp, will be joining the Board of Directors of Salla.

The Fund allows investors to gain exposure to growing and market-leading businesses in strategic, high-growth sectors such as business services, transport and logistics, healthcare, and consumer.Investcorp Head of Emerging Markets Private Equity, Walid Majdalani, said, “Saudi Arabia today has over a million SMEs, having grown three times over the past five years. We believe that the Kingdom’s transformation agenda will continue to drive innovation and empower the next generation of entrepreneurs, with Salla acting as a key enabler to support the development of new companies in the e-commerce ecosystem”.

He added, “We see great interest in the potential of Saudi companies to IPO, especially as scale-ups and unicorns demonstrate local and regional success. Salla has managed to grow exponentially and deliver best-in-class margins.

We are excited to be part of their next growth phase and are keen to work with the founder and management team to explore a potential future listing in line with our track record”.

Nawaf Hariri, CEO and co-founder of Salla, added, “We are deeply grateful for the trust and investment from Investcorp and Sanabil in Salla, which reflects their confidence in our vision and our platform’s potential.

This investment propels us forward in our ongoing mission to open opportunities and empower individuals, SMEs, and enterprises to start and expand their businesses both within and beyond Saudi Arabia. We are committed to delivering innovative, customer-centric solutions that simplify and enhance the e-commerce experience for our merchants.”

Investcorp, through Investcorp Saudi Pre-IPO Growth Fund LP, previously led a pre-IPO funding round in TruKKer, a leading MENA digital freight network, with over 45,000 trucks inducted on its platform. This was followed by the fund’s investment in NourNet, one of Saudi Arabia’s leading ICT companies, with over 1,200 B2B clients operating across 20 industries.

Source: Wamda

US-based Egyptian fintech MoneyHash has raised a $4.5 million Seed funding round, co-led by COTU Ventures and Sukna Ventures, with participation from RZM Investment, Dubai Future District Fund (DFDF), VentureFriends, and angel investors.

Founded in late 2020 by Nader Abdelrazik, Mustafa Eid and Anisha Sekar, MoneyHash is a payment orchestration that offers a comprehensive payment operating system as a service to address the various technological and product challenges faced by enterprise merchants.

In 2022, MoneyHash raised a $3 million pre-seed round.

The new funds will be used to expand the business team and growth capabilities while maintaining technological progress.

Press release:

We are thrilled to announce that MoneyHash, the first and leading payment orchestration platform in the Middle East and Africa (MEA), has successfully raised $4.5 million in a seed funding round. The round was co-led by COTU Ventures and Sukna Ventures, with participation from RZM Investment, Dubai Future District Fund, VentureFriends, and a group of strategic investors and operators.

Despite the significant slowdown in market activity, this investment illustrates the market’s confidence in MoneyHash and its potential for continued growth and market leadership. MoneyHash's proprietary payment orchestration platform and end-to-end payment operating system have garnered acclaim for their innovative approach to streamlining payment processes, making it the top choice for businesses seeking efficient and scalable payment infrastructure. This funding will enable MoneyHash to further invest in its technology and expand its business growth initiatives across the region.

Addressing Challenges in The MEA Payments Landscape

The payment landscape in the MEA is highly fragmented. Each country has tens of payment providers and methods, developing payment regulations, limited economic integration with other markets, and a diverse set of customer preferences and market dynamics.

The complexity of the ecosystem is compounded by the region's susceptibility to payment fraud, low checkout conversion rates, and increased transaction failures. "COVID certainly boosted the adoption of digital payments in the region, but the infrastructure remains significantly underdeveloped. In MEA, payment failure rates are three times the global average, and fraud rates and cart abandonment are over 20% higher than in all other regions. This places merchants in a challenging position, viewing payments as a cost and risk center rather than a strategic enabler," says Nader Abdelrazik, co-founder and CEO of MoneyHash.

Abdelrazik adds, "However, the opportunity is enormous. MEA's trillions of dollars in payments are still less than 10% digital, suggesting the region will experience the most growth over the next decade. Merchants who navigate the complex payment ecosystem effectively will reap significant benefits. This is where MoneyHash steps in."

Empowering MEA With a Full Suite of Payment Capabilities

MoneyHash offers a comprehensive payment operating system as a service to address the various technological and product challenges faced by enterprise merchants. Elena Panchenko, the Chief Product Officer of MoneyHash, emphasizes, “Payment challenges are intertwined. Rather than merchants juggling between solutions and in-house fixes, we offer a versatile suite to address current and future challenges simultaneously.”

MoneyHash's product includes a unified API to integrate pay-in and pay-out rails, a fully customizable checkout experience, transaction routing capabilities with fraud and failure rate optimizers, and a centralised transaction reporting hub. This is complemented by tools enabling various use cases, such as virtual wallets, subscription management, and payment links.

Elena adds, “An integrated set of solutions is essential for enterprise merchants to address challenges comprehensively and explore opportunities freely. The infrastructure is powered by over 200 pre-integrated APIs with payment service providers and payment methods across 80+ markets. This not only offers merchants maximum flexibility and coverage but also helps us gain the trust of our customers, knowing that all scenarios and implementations fall within our expertise.”

MoneyHash products promise a 10-20% increase in revenue generation and a 90% decrease in development costs.

MoneyHash Progress & Future Plans

MoneyHash was established in early 2021 by Nader Abdelrazik and Mustafa Eid, two Egyptian technologists with extensive backgrounds in fintech and enterprise software. After a successful BETA launch in 2022, which attracted key players in the region such as Foodics, Rain, and Tamatem, MoneyHash launched its enterprise suite last October, targeting large enterprises.

In 2023, MoneyHash doubled its network of integrations, achieved triple revenue, and grew its processing volume by 30x. It also landed large enterprise customers shortly after its October launch.

Amir Farha, Managing Partner at COTU, stated, “We firmly believe that the full potential of digital payments in MEA is yet to be realized. MoneyHash has developed a sophisticated and high-quality platform that can catalyze the growth of digital payments across the region, enabling both global and local merchants to tap into new revenue streams.

We are thrilled to renew our support for a team that has consistently demonstrated superior execution, not just in securing top mid-market and enterprise customers, but also in expanding value across the entire chain, even under challenging market conditions.”

Asher Siddiqui, General Partner at Sukna Ventures, expressed, “In the rapid digital transformation of the region, part of Sukna’s fundamental thesis is to back exceptional teams that are pioneering transformative infrastructures in specialized sectors. The team at MoneyHash embodies this vision, consisting of skilled payment operators who have leveraged their expertise to establish a competitive edge, prioritizing engineering precision above all else. Their product, refined with precision and supported by a stellar team, is exceptionally well-positioned to lead the market and define the future of digital payments in the region.”

This round marks the first Middle Eastern investment by Tom Preston-Werner, GitHub's founder and early Stripe investor, highlighting his belief in MoneyHash's product quality and its ability to solve critical customer issues. MoneyHash announced his participation in an earlier press release.

MoneyHash, headquartered in NYC with 30 team members across 9 countries globally, previously raised a $3 million pre-seed round in 2021. The new funds will primarily be used to expand the business team and growth capabilities while maintaining technological progress.

Source: Wamda

Imagine a sales interaction that feels less like a high-pressure negotiation and more like a lively brainstorming session with a trusted friend. This is the magic of the "Yes, And" approach, a game-changer in the dynamic world of sales. Forget about the pressure to close deals at any cost. Instead, enter a realm where building genuine relationships, fostering trust, and creating value for both the customer and the business are paramount.

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In conclusion, redefining sales success through the lens of "Yes, And" is more than a strategy; it's a mindset shift. It's about fostering positive interactions, working collaboratively, leveraging empathy, and embracing innovation. By embracing these principles, sales professionals can elevate their performance, build lasting relationships, and set themselves apart in a competitive marketplace. So, take a deep breath, step onto the dance floor of possibility, and say "Yes, And" to a new era of sales success, where collaboration, trust, and shared value are the driving forces behind every interaction.