VC React Podcast (E12): Global Fintechs In MENA, Round Extension, Secondaries, Selling Foundr Shares

Sep 19, 2024

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VC React Podcast:

Every week, we bring you insights and reactions from top VCs, reacting to the latest news on MENA startups, VCs, and investment rounds. Stay tuned for: expert analysis, independent opinions, and maybe some heated conversations! Host: Ahmad Takatkah, VCpreneur. Sign up to VCpreneur Newsletter on ⁠⁠⁠⁠https://www.vcpreneur.com/⁠⁠⁠⁠ Co-Host: Jamie Lane, FWDstart. Sign up to FWDstart Newsletter on ⁠⁠⁠⁠https://www.fwdstart.me/⁠⁠⁠⁠

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Guests:

1. Hasan Haider, Founder and Managing Partner @ Plus VC - LinkedIn Profile: https://www.linkedin.com/in/hasanhaider/ - VC Firm Website: https://plus.vc/ 2. Jessica Al Hussaini, VC Senior Associate @ Globivest - LinkedIn Profile: https://www.linkedin.com/in/jessica-al-hussaini-5a491b54/ - VC Firm Website: https://www.globivest.com/

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News of the week brought to you by FWDstart. In Today's Episode: - Paymob secures $22m extension to Series B funding, raises $72m in total Source: Gulf Business Summary: Egypt-based fintech Paymob has raised a $22 million Series B extension round, bringing the company’s total Series B funding to $72 million. The funding was led by EBRD Venture Capital with participation from Endeavor Catalyst, along with existing investors, including PayPal Ventures, BII, FMO, A15, Nclude and Helios Digital Ventures. - UAE-Based Fintech Platform FlapKap Raises $34M In Pre-Series A Funding Round Source: Forbes Middle East Summary: UAE-based fintech FlapKap has raised $34 million in a pre-Series A funding round that included both debt and equity financing. The round is led by BECO Capital and saw significant new investment from Pact VC, with follow-on contributions from A15, Nclude, QED Investors, and debt financing from Channel Capital. - Revolut Looks to Expand Digital Banking License Effort to Middle East Source: Pymnts Summary: Revolut is reportedly planning to expand into the GCC, applying to become an electronic-money institution and offer remittances in the UAE while exploring opportunities in Saudi Arabia. - Abu Dhabi’s Mubadala takes stake in Revolut Source: Financial Times Summary: Abu Dhabi's Mubadala has invested in Revolut for the first time, joining a share sale that valued the fintech at $45 billion. The sale, held in August, saw employees sell $500 million worth of shares. Mubadala was among other investors like Coatue, D1 Capital Partners, and Tiger Global. - Seez Secures USD 4.2M to Accelerate US Expansion Plan Source: Waya Media Summary: Seez, a UAE-based automotive SaaS startup, has raised $4.2 million from several international investors. Founded in 2015 by Tarek Kabrit and Andrew Kabrit, Seez is an automotive tech company that provides car dealerships and OEMs with software solutions to improve their customer experience and increase sales. After expanding into markets such as the UK, Australia, Denmark, South Africa, New Zealand, Mexico, and GCC countries. --- (أحمد طقاطقه) ---