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حصدت الشركات الناشئة في الشرق الأوسط وشمال افريقيا على اجمالي تمويل في شهر مارس/آذار يقدر نحو 299 مليون دولار كحصيلة لـ 79 صفقة تمويل، وبذلك يكون تمويل الشركات الناشئة في المنطقة قد ارتفع مقارنةً بالعام الماضي لنفس الفترة بأكثر من 71%.
التوزيع الجغرافي لحجم وعدد صفقات الشركات الناشئة
كان النصيب الأكبر لصفقات الشركات الناشئة لشهر آذار/مارس من نصيب الشركات الإماراتية التي حصلت على أكثر من 50% من إجمالي حجم الصفقات، تلتها الشركات المصرية بنحو 86 مليون دولار أو 29% من إجمالي التمويل، فيما حلت الشركات الناشئة السعودية في المرتبة الثالثة بنحو 39 مليون دولار، وبذاك تكون كل من الإمارات ومصر والسعودية قد استحوذت على ما يصل إلى 92.6% من إجمالي تمويل الشركات الناشئة، وهي تعد نسبة عالية من تركز التمويل جغرافياً، لا سيما، وأن عدد الدول التي حصلت فيها الشركات الناشئة على تمويل يصل إلى 9 دولة، إلا أن مجموع ما حصلت عليه لا يتجاوز 22 مليون دولار.
وبالرغم من أن معظم الصفقات تركزت في الدول المذكورة سابقاً (بنسبة 58%)، فان متوسط حجم الصفقة في هذه الدول يصل على نحو 4.6 مليون دولار، فيما متوسط حجم الصفقة الواحدة في باقي الدول لا يتعدى 1.1 مليون دولار.
التوزيع القطاعي لحجم وعدد صفقات الشركات الناشئة
احتل قطاع التكنولوجيا المالية حصة الأسد في صفقات الشركات الناشئة لشهر مارس/آذار حيث وصل مجموع ما حصلت عليه الشركات الناشئة الناشطة في هذا القطاع إلى 135 مليون دولار موزعة على نحو 18 صفقة، وهذا يعني أن قطاع التكنولوجيا المالية استحوذ أيضاً على الحصة الأكبر من حيث عدد صفقات الشركات الناشئة. جاء قطاع التكنولوجيا الصحية، الذي يستمر بالنمو منذ أزمة وباء كورونا كوفيد-19، في المركز الثاني بإجمالي تمويل وصل إلى 44 مليون دولار موزعة على 5 صفقات، فيما جاء قطاع العقارات بالمركز الثالث بفارق 6 مليون دولار عن تمويل قطاع التكنولوجيا الصحية، موزعة على 9 صفقات، وقد يعزى نمو تمويل الشركات الناشئة الناشطة في مجال العقارات إلى التحسن الملحوظ في قطاع العقارات بصورة عامة لا سيما في دول الخليج العربي.
مراحل الاستثمار في الشركات الناشئة
تستمر مراحل التمويل المبكر في السيطرة على مشهد تمويل الشركات الناشئة من حيث عدد الصفقات، إذ تركزت معظم الصفقات في مرحلة التمويل البذرة وما قبل البذرة، من جهة اخرى فإن مراحل التمويل المتأخرة كان لها النصيب الأكبر من حيث قيمة مبالغ التمويل، حيث حصلت الشركات الناشئة في مرحلتي "أ" و"ب" على أكثر من 182 مليون دولار، أي ما يعادل 61% من إجمالي قيمة التمويل الذي حصلت عليه الشركات الناشئة في المنطقة في شهرآذار/مارس.
التوزيع حسب النوع الاجتماعي (الجندر)
احتلت الشركات الناشئة المدارة من قبل الذكور مركز الصدارة حيث حصدت هذه الشركات 86% من إجمالي التمويل الذي حصلت عليها الشركات الناشئة في المنطقة لشهر آذار/مارس فيما لم تتجاوز حصة الشركات الناشئة المؤسسة من قبل الإناث على أكثر من 0.4% من إجمالي التمويل، فيما حصدت الشركات الناشئة التي تدار بشكلٍ مشترك على نحو 13.6%، وهي تعد نسبة مرتفعة مقارنةً بالفترات السابقة.
شهد شهر مايو/أيار انعقاد اجتماعين منفصلين هدفا إلى تعزيز العلاقات الاقتصادية العربية السويسرية. انعقد الاجتماع الأول في الرباط يوم 9 مايو/أيار حيث اجتمع الوزير المغربي لشؤون الاستثمار والتقارب وتقييم السياسات العامة، محسن الجزولي، بوزيرة الدولة السويسرية ماري غابرييل إنيشن فليش. وذلك بحضور، غيوم شيرر، سفير سويسرا في المغرب. حيث ناقش الطرفان إمكانية إدخال استثمارات جديدة في العديد من القطاعات، وتعهدا بعقد اجتماعات مماثلة في المستقبل.
وعلق الجزولي على العلاقات القوية بالفعل بين البلدين، مشيرا إلى أن الاجتماع كان "فرصة لتقديم مختلف الفرص الاستثمارية التي يتيحها المغرب للمسؤول السويسري". بالمقابل وصفت السيدة فليش العلاقات بين البلدين "بالممتازة". هذا وقد سبق ان عقدت غرفة التجارة والصناعة والخدمات بجنيف، وغرفة التجارة السويسرية في المغرب اجتماعاً في أواخر أبريل/ نيسان تحت شعار "التركيز على المغرب".
وفي تعليقه على المحادثات الأخيرة التي جمعت الطرفين، أشار السفير غيوم شيرر إلى الاتفاقية السويسرية المغربية الموقعة في ديسمبر/ كانون الأول 2021، معتبراً أن الاتفاقية سمحت "بزيادة التعاون في جميع المجالات".
أما الاجتماع الثاني فقد انعقد في المنامة يوم 12 من مايو/أيار، وذلك في إطار زيارة رسمية للبعثة الاقتصادية السويسرية إلى مملكة البحرين، حيث اجتمعت البعثة مع وكيل وزارة الصناعة والتجارة والسياحة إيمان الدوسري، وذلك بحضور السفير السويسري لدى مملكة البحرين "ماسيمو بادجي"، والوكيل المساعد للتجارة المحلية والخارجية الشيخ حمد بن سلمان آل خليفة، وعدد من كبار المسؤولين بالوزارة. وقد تناول اللقاء العلاقات الاقتصادية الثنائية بين البلدين وسبل تعزيزها.
تحتل العلاقات العربية- السويسرية موقعاً متميزاً على الصعيد الاقتصادي إذ تعد سويسرا من اهم الشركاء التجاريين للدول العربية حيث تستحوذ على نحو 10% من إجمالي التبادلات التجارية العربية مع أوروبا.
وشهدت السنوات الأخيرة تطوراً في العلاقات الاقتصادية العربية- السويسرية لاسيما مع دول الخليج العربي، كما تحسنت العلاقات بين المغرب وسويسرا بشكل كبير في السنوات القليلة الماضية.
المصدر: وكالات
نجحت الشركات الناشئة في الشرق الأوسط وشمال افريقيا بالحصول على استثمارات بقيمة 297 مليون دولار من 29 صفقة هي حصيلة شهر نيسان/ أبريل من العام الجاري. ويشكل حجم الاستثمارات نمواً بنسبة تتجاوز 60% مقارنة بالفترة نفسها من العام الماضي، بالمقابل تمثل انخفاضاً طفيفاً يقدر بقيمة 2 مليون دولار مقارنةً بشهر مارس/ آذار الماضي.
التوزيع الجغرافي لعدد وحجم صفقات الشركات الناشئة
لا جديد في شهر أبريل/نيسان لجهة توزيع قيمة وعدد الصفقات جغرافياً إذ ما زالت كل من السعودية والإمارات ومصر على التوالي تتصدر مشهد تمويل الشركات الناشئة في المنطقة، حيث حصدت هذه الدول مجتمعة ما مجموعه 195 مليون دولار، أي أكثر من 65% من إجمالي قيمة الصفقات، كذلك على صعيد توزيع الصفقات نجد أن كل من الإمارات والسعودية ومصر قد حصدت نحو 82% من إجمالي الصفقات، وهو ما يعد تركزاً كبيراً لجهة العدد وحجم الصفقات لشهر في نيسان/ أبريل مقارنةً بفترات سابقة. من جهة أخرى يلاحظ الفرق الكبير في حجم الصفقات التي استحوذت عليها الشركات السعودية مقارنةً بالشركات الناشئة في الدول الأخرى، إذ وصل حجمها إلى أكثر من 195 مليون دولار. الملاحظ أيضاً في حركة الاستثمار في الشركات الناشئة لشهر نيسان/ أبريل هو ارتفاع متوسط حجم الصفقة بصورة غير مسبوقة إذ سجل متوسط حجم الصفقة الواحدة أكثر من 10.2 مليون دولار، وهو ما يعادل ضعف متوسط حجم الصفقات لعام 2021.
التوزيع القطاعي لعدد وحجم صفقات الشركات الناشئة
تأثر التوزيع القطاعي لحجم صفقات الشركات الناشئة بعدد قليل من الصفقات الضخمة، أهمها صفقة شركة FOODICS وهي منصة متخصصة بالتقنية المالية وإدارة المطاعم، حيث جمعت هذه الشركة في شهر أبريل/ نيسان أكثر من 170 مليون دولار، وعلى اعتبار أن تخصص الشركة يصنف "برمجيات كخدمة" فإن هذا القطاع احتل مركز الصدارة بواقع 171 مليون دولار من صفقتين. جاء قطاع التجارة الإلكترونية بالمركز الثاني بواقع 37 مليون دولار، متأثراً أيضاً بثاني أكبر صفقة تمويل في شهر أبريل/ نيسان، وهي صفقة شركة Millennial Brand الإماراتية التي حصدت تمويلاً بقيمة 35 مليون دولار. أما المركز الثالث والرابع فكانا من نصيب قطاعي تكنولوجيا العقارات بقيمة 20 مليون دولار يليه قطاع التكنولوجيا الزراعية بقيمة 18 مليون دولار. بالمقابل تراجع قطاع التكنولوجيا المالية إلى المركز الخامس بواقع 9.8 مليون دولار مصدرها 4 صفقات، وبذلك يكون قطاع التكنولوجيا المالية الذي جاء في المركز الخامس من حيث حجم الصفقات، في المركز الأول لجهة توزيع صفقات التمويل، الأمر الذي يشير إلى حفاظ شركات التكنولوجيا المالية على حصة معتبرة من صفقات التمويل، حتى في ظل تراجعه النسبي مقارنةً بالقطاعات الأخرى لجهة حجم الصفقات.
مراحل الاستثمار في الشركات الناشئة
بالرغم من استحواذ مرحلتي التمويل الأولي والتمويل ما قبل التأسيس على معظم صفقات الشركات الناشئة في شهر أبريل/ نيسان، وذلك بنسبة 58% من إجمالي عدد الصفقات، فإن الحجم الأكبر من التمويل ذهب إلى صفقات في مراحل متقدمة، أهمها مرحلة التمويل من فئة (ت)، أي التمويل الذي ذهب إلى صفقة شركة FOODICS التي جمعت 170 مليون دولار كما ذكرنا سابقاً.
التوزيع حسب النوع الاجتماعي
ما زالت الشركات الناشئة المؤسسة من قبل الرجال هي المسيطرة على مشهد تمويل الشركات الناشئة في المنطقة، فقد حصدت في شهر أبريل/نيسان نحو 87% من إجمالي صفقات الشركات الناشئة، فيما لم يتجاوز حجم التمويل الذي حصلت عليه الشركات الناشئة التي تدار من قبل إناث حاجز الـ 1%، لكن الشركات الناشئة التي تدار بشكلٍ مشترك نجحت في الحصول على ما نسبته 12% من إجمالي التمويل وذلك بفضل صفقة شركة Millennial Brand.
Mashreq, the Dubai lender controlled by the Al Ghurair family, has invested $10 million in UAE-based FinTech start-up Cashew, becoming the latest to tap into a rapidly expanding ‘buy now, pay later' (BNPL) sector.
Founded in 2020, Cashew offers its services in the UAE and Saudi Arabia — the Arab world’s largest economies — through an app and a web-based platform.
As part of the investment, Cashew’s payment platform will be integrated as an option on the acquiring network of Neopay, the payments subsidiary of Mashreq. The lender will also support the start-up to launch in Egypt — the Arab world’s most populous economy — in the last quarter of this year.
In March, Mashreq carved out its payments arm into its new division Neopay, in an effort to help businesses handle credit and debit card payments amid a pandemic-fuelled e-commerce boom.
“Our partnership with Cashew will lead the way for the future of financial services in the region,” Mashreq’s group chief executive Ahmed Abdelaal said.
“We will leverage the full network of Mashreq merchants and consumers to provide our ecosystem with the most ubiquitous and flexible BNPL options in the market,” Mr Abdelaal said.
Mashreq's investment is part of a larger funding round that involves other investors as well, Cashew said, without disclosing further details. Since its inception, the FinTech start-up has raised nearly $10m.
BNPL platforms allow consumers to make purchases without paying the full amount upfront, avoiding the use of credit cards and hefty interest charges. Merchants are still protected through credit risk checks, late fees and blocks on customers who have defaulted.
Consumers can choose to split payments into instalments or simply delay them by weeks to months without any hidden fees, while merchants are paid in full upfront.
The BNPL concept is gaining in popularity across the world and has been disrupting the payments industry, buoyed by consumers' fragile personal finances amid the pandemic-induced economic headwinds.
By 2025, the industry is expected to grow 10 to 15 times its current volume, topping $1 trillion in annual gross merchandise volume by some estimates, according to a report by New York data research consultancy CB Insights.
Nearly $4 billion was invested in BNPL companies last year — up from $1.7bn in 2020, according to Crunchbase.
In the Middle East, platforms such as Dubai-based BNPL start-up Tabby raised $50m last year while Saudi Arabia's Tamara raised a record $110m in a Series A round.
In September, Abu Dhabi Islamic Bank, the emirate’s biggest Sharia-compliant lender, partnered with Dubai-based digital payments provider Spotii to launch a virtual BNPL prepaid card in the UAE.
“Mashreq is one of the most respected banking brands in the region, so they will bring our customers many benefits as we continue to grow our service offerings … this partnership will give consumers the largest merchant network to shop at, larger ticket size and the ability to pay over longer terms,” said Cashew co-founder and chief executive Ammar Afif.
“We can only accomplish these goals for our customers by partnering with respected financial institutions like Mashreq that understand and want to be a part of the growing BNPL segment,” he added.
Under the partnership, Cashew and Mashreq will offer new products to the market including longer tenure and higher ticket size BNPL options for consumers, the companies said in a joint statement.
They also plan to introduce point-of-sales lending options in the region later this year. It will allow consumers to opt for BNPL but with larger tenures such as six or 12 months.
The UAE's BNPL volumes are expected to jump 71 per cent on an annual basis this year, Mashreq’s senior executive vice president and group head of retail banking Fernando Morillo said.
“This is yet another prime example of the partnerships we can forge with innovative FinTech operators, who share our mission to deliver a safe and seamless payment experience for our customers.
“We eagerly await the roll-out of further services as we continue to empower our customers with more choice and convenience in the UAE and in the future, across Egypt,” said Mr Morillo.
Established in 1967, Mashreq, like its peers in the Middle East, is pivoting towards digital banking and is reducing the number of physical branches to cater to a young, tech-savvy demographic that typically opts to complete its transactions online.
Source: The National News
UAE-based fintech Spades, has raised $2.5 million in investment from European angel investors, including Thibaud Elzière, Eduardo Ronzano and Yan Hascoet, Othmane Bouhlal and Omar Benmoussa.
Founded in 2021 by Mehdi Chraibi, Adnan Haque and Sameer Poonja, Spades is a dine-in payment service for restaurants where customers can pay their bills at the table with no need for app downloads, registrations or setup fees.
The new investment will fuel Spades’ expansion in the UAE and other GCC countries.
Press release:
There’s no denying that the Middle East is growing fast and its restaurant scene is growing even faster. Dining in the UAE means exploring one of the most diverse, vibrant, and delicious food destinations on the planet. Restaurants are increasingly turning to Spades to keep up with dynamic demand while providing a seamless checkout experience for dine-in customers to pay their bills.
Spades was founded by Mehdi Chraibi, Adnan Haque, and Sameer Poonja after successful careers building digital products used by millions of users at VISA, Emirates Airline, Oracle, Millicom, and Rocket Internet. The team is backed by executives with leadership roles at global Payment Service Providers (Adyen, VISA & MasterCard), Cloud Kitchens, and multiple Hospitality Houses in the Middle East.
Their oversubscribed angel round of $2.5M also included prominent European business angels, such as Thibaud Elzière (Founder, Fotolia & eFounders), Eduardo Ronzano (Founder, KelDoc & Managing Partner, Secret Fund), and Yan Hascoet, Othmane Bouhlal, Omar Benmoussa - the Founders of Chauffeur Privé - Kapten (acquired by Free Now), which was closed with early investments from global & regional VCs such as Nordstar and Impact46.
The fintech payment startup has already signed over 150 restaurants in its first 12 weeks and launched with major brands in UAE such as NOLA, Couqley, Alaca, and The Sum of Us. The company is growing fast and recruiting multiple roles across the board this year to cope with its expansion in the GCC and beyond.
How it works:
Spades allows guests to easily pay their bill by scanning a code or tapping to pay, without any downloads or registration, translating into shorter wait times. Trustworthy, and reliable, the platform provides the fastest and most secure payment solution that integrates seamlessly into all major POS systems, making refunds and reconciliation just a click away.
Partner restaurants have already reported doubling their staff tips, turning tables faster, saving trees, and improving guest service. With a solution that caters to both restaurants and customers, Spades is set to revolutionize F&B in the region with just a quick scan and a couple of taps!
Customer journey:
A simple tap to pay or QR code scan allows diners to conveniently and securely clear bills at partner restaurants. The solution also allows diners to split the total bill with friends and add their own tip individually for staff, while paying using their method of choice.
Customers can receive a digital receipt for their records and also review their experience. Through its partnerships, the platform integrates seamlessly with all major POS systems making transactions, refunds, and reconciliation just a click away.
Human-centric approach:
While other like-minded rival technologies create a disconnect between customers and restaurants, Spades has a human-centric approach to challenge the status quo by increasing engagement throughout. The actual order is still placed in person with the wait staff which has been designed to ensure customers continue to get a chance to interact with their server and seek the right dine-in experience, an issue widely encountered by other online ordering platforms.
The automated end-to-end payment integration with any Point of Sale removes all manual errors and simplifies daily reconciliation. By bringing payment to the table, customers can now choose traditional forms of payment or use Spades directly from their phone.
Co-founder of Spades, Adnan Haque said, “With Spades, we have created a seamless payment portal that is fast, secure, and convenient. Our goal is to give back time to customers and restaurants, and create a perfect "phy-gital" harmony that helps achieve an exceptional dine-in experience.”
Investment Associate at Impact46, Saud Alsahaf said, "F&B is an important industry in the local market, and Spades is offering a powerful digital solution to improve the experience for all stakeholders in the value chain. We look forward to making Spades the standard for restaurant payment."
Co-founder and Managing Director of NOLA Social House & Eatery, Alex Economides said, “Since starting with Spades we’ve noticed our staff having more time to engage with guests at the end of their dine-in visit.
Rather than running around at peak hours printing bills and collecting payments. Exceptional service has always been one of the WOW factors at Nola, so with Spades’ efficient and convenient payment method we see a perfect fit.”
source: Wamda
Kuwait-based e-grocery platform Raha, has announced its launch after raising a $6.7 million Seed round led by a group of regional and international investors.
Founded in 2020 by Saleh Al-Tunaib, Raha delivers groceries, fresh produce, and other household essentials. The startup operates out of automated micro-fulfilment centres and controls the full cycle of grocery delivery logistics from procurement to last-mile delivery.
Press release:
Raha, the region’s newest e-grocery platform, has announced that it has officially launched in the Kuwait market, with its app now available on all Apple iPhones and Samsung Android devices.
An innovative homegrown concept, Raha is the Middle East’s first pure-play, fully automated e-grocery platform - offering a full range of groceries, fresh produce, and household essentials. It also features Kuwait’s first fully automated robotics-fulfilment centre, and one of the first centres of the kind globally with a chilled warehouse capability.
Developed by global warehouse automation specialist, Swisslog, the centre serves as the core foundation of Raha’s technology-driven operational model and fully automated, data-driven intralogistics system – featuring the AutoStore solution; an innovative automated material handling solution that uses robots on top of an aluminium grid system to store and locate goods, efficiently delivering them to pick stations for processing.
Conceived as a digital operation first and foremost, Raha is making a huge investment in its technological infrastructure and completely self-serving operational model, including the robot-led fulfilment team and in-house preparation of all fresh items.
Raha’s easy-to-navigate smart platform leverages users’ data and insights to provide a personalized customer journey unlike any other in the market, with made-to-order items, easy step-by-step customization, tailored recipes, and an impressively wide range of varieties across all product segments.
According to the Co-Founder and CEO of the company, Saleh Al-Tunaib, Raha’s investment in technology and innovation did not come as an added value extension of the business, but rather has been the driving notion at the heart of its conception and service model from the very beginning. “From the outset, the goal was to develop a pure-play digital retail operation that combined operational excellence with a simplified, intelligent user experience.
Every step of the customer journey – from first log-in to final order delivery – has been carefully designed to deliver maximum convenience. We wanted to translate and elevate the traditional grocery experience at its absolute best to a seamless digital experience,” said Al-Tunaib.
Raha’s heavy investment in the infrastructure of both its software and product technology built a self-serving operational model that is now Kuwait’s first robotic fulfilment centre.
Concurrently, Raha successfully launched a fully-automated chilled fulfilment centre - making it one of the first of its kind globally. This achievement introduces to the entire region the emerging trend of intralogistics, which is proving to shape the future of the eCommerce industry worldwide.
With a core commitment to hit quality and freshness benchmarks across every order, Raha employs a completely temperature-controlled and precise process. The full cycle of logistics - from procurement to last-mile delivery - is systematic and precisely controlled. Dedicated areas for the in-house preparation of meats, poultry, fish, and deli items offer consumers unparalleled freshness when coupled with Raha’s unique indoor dispatch area.
Their trained fleet carries out the last-mile delivery that is route-optimized and time-efficient to complete the full cycle, seamlessly inserting Raha’s redefined grocery experience into the online commerce space that users are increasingly migrating to today. Additionally, Raha offers a nutritionally categorized assortment to fit all lifestyles and a unique feature in the form of Raha Recipes: a one-click add-to-cart recipes component, with recipes produced in-house using only items available in the app.
"Delivering this next level, seamless modern grocery delivery experience is credited also to Swisslog's adept implementation of AutoStore that propelled us past the traditional warehousing and fulfilment systems currently present in our landscape,” added Al-Tunaib.
On his part, David Dronfield, General Manager of Swisslog Middle East, noted: “The micro-fulfilment centre designed for Raha is the first automated micro-fulfilment centre (MFC) implemented in Kuwait, with a system designed in such a way that order capacity per day can be effectively doubled through the ease of expansion our solution provides.”
Customers are offered unparalleled flexibility and convenience by building a system that not only caters to both chilled and ambient products but that is designed to execute both express and scheduled delivery.
Evidently, the pandemic present at the time of the envisage and conceptualization of the partnership played a role in the final desired outcomes and vision.
Though Kuwait was under lockdown, a tremendous work ethic and solid collaboration between Swisslog and Raha made possible the timely and successful implementation of the system, overcoming the pandemic barriers through our joint efforts.
It serves to note that Raha was created and designed by a diverse team of driven young talents, who bring with them wide-ranging expertise and experience in the fields of grocery retail, e-commerce and tech development in the region.
The company has completed its seed round of funding, with an impressive capital of USD 6.7 million raised by Saudi and Kuwaiti backers, as well as international VCs.
source: Wamda
Egypt-based fintech Khazna, has raised a Series A round of $38 million in equity and debt, with the equity investment led by Quona Capital with the participation of Speedinvest, Nclude, Khawarizmi Ventures, Algebra Ventures, Accion Venture Lab, Disruptech, AB Accelerator by Arab Bank, and CVentures, among others. The debt financing was provided by Lendable.
Launched in 2020 by Omar Saleh, Ahmed Wagueeh, Fatimah El Shenawy, and Omar Salah, Khazna aims to serve underbanked Egyptians who have little access to formal financial services, including general-purpose credit, buy now pay later (BNPL), and bill payment.
The new round will allow Khazna to ramp up its efforts to replace informal cash-driven alternatives across Egypt.
Press release:
Khazna, a Cairo-based financial Super App that offers easy to use, technology-driven financial services to Egypt’s underserved consumers and micro-businesses, announced today it has raised a Series A round of $38 million in equity and debt, with the equity investment led by impact investor Quona Capital with the participation of Speedinvest, Nclude, Khawarizmi Ventures, Algebra Ventures, Accion Venture Lab, Disruptech, AB Accelerator by Arab Bank, and CVentures, among others. The company’s debt financing is provided by Lendable, while the Arab Bank Egypt is the Security Agent facilitating the transaction. The round comes as Khazna ramps up its efforts to replace informal cash-driven alternatives across Egypt, pairing a digital native solution with an innovative business model.
Khazna’s super app caters to 50% of Egyptians who are active smartphone users and lack access to formal financial services. Khazna currently offers General Purpose Credit, Buy Now Pay Later (BNPL), and Bill Payment. The company’s vision is to digitise cash transactions across Egypt, in response to the Central Bank of Egypt’s recent push for financial inclusion and a “less-cash” framework.
Khazna launched in 2020 with an Earned Wage Access product that has since grown into the multi-product offering available today. Khazna’s leadership team is composed of former executives from World Remit, Valeo, Uber, CIB, Jumia, Match Group, and Arqaam Capital.
“The unprecedented evolution of Egypt’s nascent fintech industry is a testament to the significant efforts by the Central Bank of Egypt towards financial inclusion and a less-cash society. We are aligned with CBE’s vision and Khazna at its core believes that world-class financial services should be available to all. We are combining cutting-edge technology and relentless user obsession to build the best experience for our users,” said Omar Saleh, Khazna’s co-founder and CEO. “We continue to experience exponential growth in network effects created by our 150k+ active users, our partners, and Egypt’s largest merchants.”
Khazna represents Quona Capital’s second investment in Egypt. “In just two years, Khazna has scaled and monetised quickly and is already a market leader in the push for financial inclusion for the 35 million underbanked in Egypt,” said Monica Brand Engel, co-founder and Managing Partner at Quona. “Empowering consumers and micro-businesses with Khazna’s convenient, user-centric, and the transparent financial super app can enable millions across Egypt to gain greater control over their financial lives. Quona is incredibly excited about Khazna’s roadmap to be the category-leading digital super app for inclusive finance in Egypt.”
“We have been following the Khazna team since its launch in Egypt and have seen the business gain clear traction resulting in a fast scaling product offering,” said Suresh Samuel, Lendable's Deputy Chief Investment Officer. “As Lendable continues to grow our presence providing scalable debt financing to fintech in Egypt, we are excited to support Khazna’s work in providing increased access to financial services for the underserved in Egypt.”
Arab Bank has been appointed as the Security Agent to enable Khazna’s debt facility from Lendable. “Supporting Khazna was a natural step for Arab Bank as a strategic investor to facilitate the company’s growth,” said Ahmed Ismail Hassan, Country Manager at Arab Bank – Egypt.
Khazna has raised a total of $47 million since the company’s inception.
source: Wamda
Dubai's main share index followed suit, advancing 0.74% to 3541.6 points following 5,251 transactions worth $141.68mln
Abu Dhabi and Dubai twin bourses rallied for the second consecutive session, as investor sentiments continued to improve, driven by optimistic economic outlook.
The two markets gained a combined AED22bn during the first week of Ramadan, with Abu Dhabi Securities Exchange (ADX) breaking the 10,000 pts barrier for the first time amidst increased demand for IHC's Apex National Investment, which drew AED10.1 bn in transactions.
Dubai's main share index followed suit, advancing 0.74 pct to 3541.6 pts following 5,251 transactions worth AED520.5 million.
Retail sales are all set to pick up during the Holy Month of Ramadan, as resident across the UAE increasingly turn to online channels to stock up on essentials as well as gifts for their family and friends ahead of the Eid break.
Experts have identified several retail trends that will accelerate during the period leading up to the holiday such as shopping online for groceries, trying out new brands, and shopping for gift items.
Richard Nicoll, chief strategy and capability officer at Liquid Retail, noted that with 60 per cent of online shoppers planning to increase their spending across all sectors this Ramadan, it is essential for retailers to understand that consumers don’t just spend more during Ramadan; they spend differently.
“The holy month brings with it flexible working hours and the chance to get together with friends and family, leaving consumers with increased time and the need to shop,” he said. “This season is a unique time for brands to innovate and tap into this opportunity by offering shoppers cost effective and convenient deals such as buy-one get one free offers, discounted prices on bulk items and shopping vouchers which will not only drive sales and engagement this month, but encourage greater brand loyalty in the long-term.”
According to a recent survey by YouGov, 53 per cent of shoppers said they spend more, 40 per cent search for offers, and 49 per cent of consumers prefer discounts during Ramadan. YouGov's latest survey on UAE respondents’ Ramadan behaviour also revealed that 30 per cent are planning to shop online more this Ramadan, while 61 per cent are planning to shop for groceries in-store this Ramadan.
Nicoll added that grocery e-commerce is now well established, and in many cases, the preferred way to buy. “The new-found convenience and experience of grocery e-commerce aligned to the deals being offered on much-loved Ramadan favorite brands is likely to mean this is the most successful Ramadan for e-commerce platforms who are pouring marketing dollars into persuading shoppers to shop online – Noon Ramadan delivered being one example.”
“We’d expect to see marketers going with the power of shopper behavior and continuing to chase an uplift in Ramadan sales online,” he added. “To satisfy the needs of today’s customers and attract more this Ramadan, brands need to create to a holistic omni-channel retail strategy which covers all offline and online touch points and ensures a seamless shopping experience, anywhere, any time.”
Facebook IQ, Meta’s insights and research division, in partnership with YouGov, also unveiled the findings of a study conducted during Ramadan 2021, which showed that around 64 per cent of shoppers across the UAE get excited about trying new brands and products from abroad. In addition, 55 per cent of shoppers are more likely to purchase from abroad during Ramadan and Eid if adverts are about these key moments.
Fares Akkad, regional director for the Mena region at Meta, said: “Gifting and shopping is a big part of the Ramadan moment. The change in everyday habits leaves shoppers more open than usual to discovering new brands and products. This creates a unique opportunity for businesses to reach cross-border shoppers looking to discover products they’ll love – and Meta technologies can help build those connections.”
The research showed that people shop across borders for a variety of reasons, including to find a higher quality product, a product with a better price point, or a product that is unavailable locally. Roughly a third of people shop from overseas retailers as well, while more than 70 per cent make “unexpected discoveries” during Ramadan.
Buying from overseas during Ramadan, 62 per cent of UAE shoppers feel it is important to see content in their local language, while 27 per cent of shoppers agree that they find content creators most influential during Ramadan and Eid al-Fitr as they help them discover new content and accounts that they might like.
Research conducted by AdColony, together with GlobalWebIndex, also offered several insights on user behavior during Ramadan. While the time spent on smartphones is increasing day by day, 44 per cent of respondents spend 1-3 hours online on their smartphones. The most preferred time to play mobile games and to shop online is during fasting through the day between 12pm to 6pm at 33 per cent and 30 per cent respectively.
The research found that 77 per cent of participants will use their smartphones while shopping for Ramadan, while 67 per cent of them say that they will shop within the application. In addition, 47 per cent of respondents state that they will do shopping after Iftar time. When analysing industry-specific data, 45 per cent of users in the UAE will visit stores for their Ramadan grocery shopping, while 46 per cent of them will shop online and use home delivery.
The undeniable access to mobile advertising continues to stand out as the most important factor in consumers’ buying tendencies, with 66 per cent of the respondents stating that they had previously made Ramadan shopping with their smartphones directly via mobile ads; and 84 per cent stating that they would consider purchasing a product or service if the product served with the advertisement appeals to them.
“One of the most important things a brand must champion to succeed is relevance – and that goes for Ramadan too,” said Nicoll. “Brands should prioritise getting to know their target audience and which items hold cultural value to them so that they can streamline their efforts to provide impactful retail experiences and cut through the promotional noise.”
The United Nations Economic and Social Commission for Western Asia (ESCWA) launched today the eCommerce Acceleration Programme (eCAP), with the support of the ICC-ESCWA Centre of Entrepreneurship (CoE) and the International Trade Centre, to empower Arab small and medium enterprises (SMEs) through their transition journey into online selling.
The eCAP programme will build the capacity of up to 100 SMEs from the Arab region to transition into online selling, either by developing their transactional eCommerce websites or by selling on existing online marketplaces. Participating SMEs will benefit from business and technical expertise, one-year support and critical setup fees to build/optimize the online platform or sell on existing marketplaces, one-on-one coaching, in addition to exposure and access to networking opportunities.
Eligible SMEs must be registered and operational in one of the Arab countries and should have a working product or service that can be sold online. Moreover, SMEs must have an online presence through social media or through an existing website not fully optimized, and should be willing to dedicate 1-2 team members for the project.
SMEs can sign up to the programme here by filling in the online application form, which is available in English, Arabic, and French. The deadline for submitting the online application form is 20 April 2022 at 23.00 Beirut time (GMT+3).
source: UNESCWA
