Queen’s Gambit Growth Capital, the women-led SPAC in charge of the offer, called Swvl ‘a disruptive platform that fixes complex obstacles and empowers underserved populations.’ After its Egypt launch, Swvl broadened to Kenya, Pakistan, Jordan and Saudi Arabia., Swvl has raised over $170 million. From an African viewpoint, Swvl features as one of the most venture-backed startups on the continent. …
Per a recent report by Bain & & Co., e-commerce is anticipated to grow to $28.5 billion in MENA by 2022 from a 2019 value of $8.3 billion. Egypt, among the most active e-commerce nations in the area, is expected to grow 33% every year to reach $3 billion by 2022. For any e-commerce company [ …] And at that time, you understand that e-commerce is still really, extremely small. The company business does not fleets of vehicles cars carry bring operations. And to be a market leader when it comes to e-commerce on the continent and be rewarding. …
While Nigeria and Kenya have actually been at the leading edge of African fintech innovation, activities in Egypt are beginning to form up nicely. Today, Egypt is home to a growing fintech startup environment, and today, one of its biggest players, Paymob revealed that it has finished an $18.5 million Series A round. In July 2020, […] CEO Shawky states the business has plans to expand into more Sub-Saharan African nations. Now, Egypt is home to a blossoming fintech start-up community, and today, one of its most significant players, Paymob revealed that it has completed an $18.5 million Series A round. …]…
Cybersecurity company Dragos has raised $110 million in its Series C, almost triple the amount that it raised two years ago in its last round. Dragos was founded in 2016 to respond and identify to risks facing industrial control systems (ICS), the devices vital to the continued operations of power plants, water and energy materials, […] The business’s hazard detection platform– its moneymaker– helps business with industrial control systems safeguard against hackers attempting to get into essential operational systems. The start-up’s newest round was led by National Grid Partners and Koch Disruptive Technologies, with both companies including a member each to Dragos’ board. Lee stated the company works to protect facilities that serves civilians and has actively turned down military contracts that would fall afoul of those worths.”The hallmark of Dragos being successful won’t be an effective IPO,” stated Lee. …
New York-based fintech startup Wahed (suggesting “One” in Arabic) describes itself as a digital Islamic investment platform and as the world’s first “halal robo consultant.” It has now closed a $25 million investment round led by Saudi Aramco Entrepreneurship Ventures (also referred to as Wa’ed Ventures), an equity capital investment arm of oil huge Saudi Aramco. […] Commenting on the investment, Junaid Wahedna, CEO of Wahed, said: “We’re delighted to have the assistance of Aramco Ventures as we foray into the Saudi market. The business has taken the lead in delivering investment services to one of the world’s fastest-growing sectors– Islamic Financing. Wahed is likewise, in the true spirit of fintech, helping to widen the financial investment landscape. It has actually now closed a $25 million investment round led by Saudi Aramco Entrepreneurship Ventures (also understood as Wa’ed Ventures), a venture capital financial investment arm of oil huge Saudi Aramco….
At least it’s over. The markets endured their worst day of trading of this young year as the Dow Jones Industrial Average dropped 2,000 points to close at 23,850.79 — a 7.79% decline. The Nasdaq Composite Index fell 624.94, to close at 7,950.68, and losses to the S&P 500 triggered a temporary halt on trading in […] …
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