Riyadh-based foodtech startup Calo, the Middle East’s largest personalised meal subscription service, has announced raising SAR 94 million ($25 million) in its Series B funding round. The round was led by Nuwa Capital, with participation from STV, Khwarizmi Ventures, and regional family offices. This oversubscribed round underscores strong investor confidence, prompting Calo to extend its Series B to […]
KARACHI: The State Bank of Pakistan (SBP) has introduced a revised and consolidated Regulatory Framework for Exchange Companies (RFEC) aimed at enhancing governance, internal controls, and compliance within the sector. The updated RFEC consolidates and modernizes existing regulatory instructions, replacing the earlier Exchange Companies Manual. The SBP’s comprehensive review and revision are geared towards streamlining […]
December 27, 2024 Alif announced it had raised a $20 mln debt investment from Accial Capital, a US-based impact private credit fund manager. The deal was facilitated with advisory support from Nairang Capital and TMT Global Advisors. The funds will be allocated to enhance Alif’s Nasiya service’s capabilities, strengthen its market position, and promote financial inclusion in […]
Telenor Velocity, Telenor Pakistan’s premier startup accelerator program, in partnership with the Special Technology Zones Authority (STZA) and Invest2Innovate (i2i), hosted a high-impact roundtable discussion during the prestigious +92Disrupt 2024 conference. Themed “From Idea to Impact: Closing the Funding Gap in Pakistan’s Startup Ecosystem,” the session brought together 36 thought leaders representing investors, startups, corporates, […]
Initiative aims to strengthen entrepreneurship and drive innovation across fintech, e-commerce, and health tech sectors. Gobi Partners, a pan-Asian venture capital firm, has launched the $50 million Techxila Fund II alongside a Memorandum of Understanding (MoU) with the Bank of Punjab (BoP) to bolster Pakistan’s startup ecosystem. The announcement was made at the Pakistan Investment […]
The global South Asian ethnic wear market is set to reach $129 billion by 2030, with digital spending projected to drive nearly $46 billion of this growth. Leading the charge in this evolving landscape is LAAM, a premier fashion marketplace for South Asian apparel, which has announced a $5.5 million seed funding round to expand […]
The State Bank of Pakistan (SBP) has issued new directives to banks and microfinance banks (MFBs) to bolster the security of financial transactions conducted through mobile apps and internet banking portals. The central bank has mandated the replacement of one-time passwords (OTPs) sent via SMS with Transaction PIN (TPIN) or Financial PIN (FPIN) functionality by […]
Riyadh, Saudi Arabia — EdfaPay, a leading fintech platform in Saudi Arabia, has successfully raised $5 million in a Pre-Series A funding round. The investment was led by OmanTel Innovation Labs, with participation from Aljabr MENA and Waad Investment. The funding will bolster EdfaPay’s presence in Saudi Arabia while driving its strategic expansion across the MENA region and into Pakistan. The […]
Riyadh, Saudi Arabia – Merak Capital, a prominent technology-focused investment firm, has unveiled its SAR 306 million gaming fund and accelerator, Exel by Merak, to drive the growth of gaming startups and position Saudi Arabia as a global hub for gaming innovation. The launch event, held on November 17, 2024, at the VOV Gaming Centre in Riyadh, […]
Riyadh, Saudi Arabia – Bubbl, the fast-growing social networking platform, has secured $350,000 in a Pre-Seed funding round led by prominent angel investor Abdullah Al-Dosari. The app, founded by Aya Al-Hammoud and launched in March 2024, has quickly become a sensation, amassing over 60,000 daily active users within months of its debut. Rising Through the Ranks […]