KT Events’ Post

Islamic fintechs dominate 20 out of 30 startups in the "Top 30 Global Islamic Economy Startups 2024", with Wahed at the top of this ranking. Malaysia and UK have strong Islamic fintech ecosystem, but Saudi Arabia is emerging as the global hub of islamic fintech with its sizeable market, growing digital adoption, and big funding pool. Last year, Tabby moved its HQ to Saudi Arabia ahead of its IPO plan on Tadawul. Tamara became the first homegrown unicorn after raising $340 million in Series C funding led by Sanabil Investments, a PIF subsidiary. Interesting to see more development in Saudi Arabia and other countries 🚀 . Islamic fintechs should keep innovating while upholding sharia values, prudent growth, strong customer protection, and sustainable impact. Read the full ranking here: https://lnkd.in/dgXi47VB Salaam Gateway DinarStandard

MENA-based fintech startup OCTA has secured $2.25 million in pre-seed funding, co-led by Quona Capital and Sadu Capital, to automate accounts receivable for SMEs in the region, starting with Saudi Arabia. “Late payments are crippling business growth,” says Jon Edward Santillan, co-founder of Octa. The platform streamlines payment collections, automating reminders and integrating financing options to ease cash flow issues for SMEs. Octa has already processed $28 million in receivables for clients like Careem and Lean Technologies, with plans to expand further across the MENA region, helping businesses grow by solving the late-payment problem. https://smashi.tv/ar/home

🚀 Last weekend alert! Don't miss out on the opportunity to scale up in Europe. 🌟 Whether you're a Fintech, Insurtech or a Regtech, seize the chance to connect with financial powerhouses from Europe, Asia, and South America at the 100 European Fintech Summit in Valencia🇪🇸. Plus, here's the kicker – stand a chance to win a staggering $1 million at the Dubai FinTech Summit! 💰 ⏰ Hurry! The clock is ticking, and the deadline is February 18th. Don't let this game-changing opportunity slip away! 🔥 Apply here : https://lnkd.in/etTNwasF P.S : If you are not selected, don't worry, you will have a free ticket so you can explore by yourself all the awesome opportunities that the EU Market offers. #100EFS #OpenCall #Startups #Scaleups #Fintechs #Insurtechs #Regtechs

UAE-based fintech Ziina زينة has raised $22 million in a Series A funding round, led by US-based Altos Ventures along with other investors including FinTech Collective, Avenir, Activant Capital, Y Combinator, FJ Labs, Middle East Venture Partners (MEVP), and Jabbar Internet Group. Founded in 2020 by Faisal Toukan and Sarah Toukan, Ziina helps individuals send and receive payments through its app with just a phone number, no IBAN or Swift Code required. It launched its digital wallet in February 2022. The new round will fuel Ziina’s expansion beyond a #payments solution to providing end-to-end #financial services for businesses and consumers, starting with the soon-to-launch ZiiCard. In June 2021, Ziina, fresh from completing YC’s first cohort that year and securing a $7.5 million seed, launched its #fintech app to 20,000 #retail customers, allowing them to send and receive #money. Three years later, the Dubai-based startup, which now counts 50,000 retail and business customers after expanding its offerings to meet the needs of micro, small, and medium-sized #MSME businesses in the #UAE Full TechCrunch article in comments

SoftBank Group Corp., the Japanese conglomerate, has successfully made an exit from its entire stake in PB Fintech, the parent company of insurance aggregator Policybazaar.com👇 This exit has yielded returns of approximately $650 Mn for SoftBank, which had initially invested around $200 Mn in the early stages of Gurugram-based PB Fintech. In December, SoftBank offloaded 2.53% of its stake in PB Fintech in multiple block deals worth a cumulative INR 913.7 Cr. In the last 12 months, SoftBank has been consistently reducing its stakes in listed Indian startups. To know more in detail, click here: https://lnkd.in/gJav6-X5 #softbank #policybazaar #startup #investments #pbfintech

🌟 𝗘𝘅𝗽𝗹𝗼𝗿𝗶𝗻𝗴 𝘁𝗵𝗲 𝗥𝗮𝗽𝗶𝗱 𝗥𝗶𝘀𝗲 𝗼𝗳 𝗠𝗘𝗡𝗔'𝘀 𝗙𝗶𝗻𝗧𝗲𝗰𝗵 𝗘𝗰𝗼𝘀𝘆𝘀𝘁𝗲𝗺  🌟 Today, over 800 FinTech startups in the MENA region are valued at $15.5 billion, with the UAE leading the charge. A recent report by MAGNiTT highlighted a phenomenal 183% year-over-year growth in funding for 2021, the highest in five years. Predictions also point to the emergence of 45 unicorns worth over $100 billion by 2030 in Saudi Arabia alone. 🔍 What’s fueling this explosive growth? 𝗗𝗶𝘀𝗰𝗼𝘃𝗲𝗿 𝘁𝗵𝗲 𝗳𝗶𝘃𝗲 𝗸𝗲𝘆 𝗲𝗻𝗮𝗯𝗹𝗲𝗿𝘀 𝗱𝗿𝗶𝘃𝗶𝗻𝗴 𝘁𝗵𝗲 𝗠𝗘𝗡𝗔 𝗙𝗶𝗻𝗧𝗲𝗰𝗵 𝗯𝗼𝗼𝗺 𝗶𝗻 𝗼𝘂𝗿 𝗹𝗮𝘁𝗲𝘀𝘁 𝗯𝗹𝗼𝗴: bit.ly/3S29j3e #CedarIBSiFinTechLab #Blog #FinTech #MENA #Innovation #StartupGrowth #DigitalTransformation Sahil Anand | Ramkumar Venkataraman | Chetan Parekh | Ramakrishnan Viswanathan | Divya Shah | Pankul Verma | Angleen Malik | Aditya Agarwal | Robin Amlôt | Ojas Kulkarni | Amit Jain | Nikhil Gokhale | Subit Saurav | Sunny Desa | Sumit Gilitwala |

Egyptian 🇪🇬 fintech startup SETTLE PAYMENTS has raised $2M in pre-seed funding to accelerate its global expansion and further develop its B2B payment platform. Founded in 2023, SETTLE simplifies financial operations for businesses by streamlining payment processes and offering real-time cash flow insights. 🚀 Already processing over $1 million in transactions during testing, SETTLE aims to empower CFOs and business owners to make smarter decisions. The funding round was led by Shorooq Partners with participation from Elsewedy Capital Holding, Acasia Ventures, and Plus VC ( VC). 💬 Co-founder Mostafa Mobarak highlighted SETTLE's readiness to automate financial workflows for businesses of all sizes, backed by strategic investors for rapid growth. Tamer Azer, partner at Shorooq Partners, added that digitizing financial operations for Egyptian businesses is overdue, and SETTLE offers an efficient, scalable solution. Read more: https://lnkd.in/dBBUAeBX #Africa #Egypt #Startup #Funding #Growth  

Big win for Pakistan! 🌟 NayaPay has earned a spot on this year’s prestigious CB Insights’ List of 100 most Innovative Fintech Startups, standing among the world’s most innovative fintech companies pushing boundaries and reshaping financial services. NayaPay is leaving a lasting impression on the global fintech landscape with its innovative solutions and commitment to empowering users. This recognition not only marks NayaPay’s leap into the global fintech spotlight but also shines a light on the incredible potential of Pakistani startups. Earlier this year, NayaPay was also featured in the Forbes Asia 100 to Watch list, reinforcing its position as a fintech leader on the rise. #NayaPay #Fintech #CB #Insights

🚀 MENA Startup Ecosystem in 2024 is Resilient Amidst Global Slowdowns The latest MAGNiTT report highlights a mixed picture of the MENA region’s startup scene. Total funding reached $1.3B across 352 deals in the first nine months of 2024, marking a 13% drop compared to last year. However, international investor interest surged by 34%, reflecting global confidence in MENA’s potential. Key Highlights: 💡 FinTech continues to lead with $480M in funding and 72 deals. 🇸🇦 KSA topped the funding chart at $509M. 🇦🇪 UAE took the lead in deal volume with 134 deals. Despite the decline, MENA saw strategic wins, and FinTech's prominence remains undeniable! I am looking forward to seeing how Q4 unfolds for this dynamic region. 🌍💼 #MENA #VentureCapital #StartupEcosystem #FinTech #Innovation #SaudiArabia #UAE #StartupInvesting

🎥 Looking back at our very first event of 2024! Our FinTech panel featured a distinguished group of panellists who shared their insights on the industry's future: 🔹 Sam Yearsley, Head of Venture Building - Spring Studios, discussed the seamless integration between fintechs and banks, the ease of setting up in Bahrain, and the extensive support from the ecosystem. 🔹 Ali Ghuloom, Group Head of Technology & EA - National Bank of Bahrain, emphasized the critical role of fintech in the region, the collaboration between banks and accelerators, and the importance of education in driving innovation. 🔹 Mohamed Alaali, Chief Strategy & Sustainability Officer - Bahrain Islamic Bank - BisB, outlined the strategic partnership between banks and fintechs, highlighting Bahrain as the financial hub with the potential to create more unicorns in the region. Watch the video to catch all the highlights and insights! 🌟 #FinTech #Innovation #Bahrain #FinancialHub #Startups #Ecosystem HQ by Hope Ventures StartUp Bahrain