FME Staff

Pinnacle Launches Venture Capital Fund to Back Saudi Growth Companies

Saudi Arabia-based investment firm Pinnacle has launched a new venture capital fund aimed at backing growth-stage companies in the Kingdom. The fund will invest through both primary funding rounds and secondary transactions, giving it a dual approach that supports fresh company growth while also creating liquidity for existing investors looking to exit. Pinnacle, part of

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OORI Secures Saudi CMA Licence to Expand Regulated Private Market Investments

Saudi Arabia-based private markets investment platform OORI has secured a licence from the Capital Market Authority (CMA) to conduct arranging and advising activities, marking a major step toward its operational launch in the Kingdom. Founded in 2023 by Elie Nasr and Naif Al Ajmi, OORI aims to provide qualified investors with regulated access to curated,

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Bahraini Insurtech Soor Secures Pre-Seed Investment to Expand Digital Insurance Platform

Bahrain-based insurtech startup Soor has secured an undisclosed pre-Seed investment from Spring, a venture studio and ecosystem builder backed by London-based investment firm Salica and Bahrain’s Al Waha Fund of Funds. Founded in 2024 by Mahmood Dhaif and Qasim Albaqali, Soor operates a digital insurance platform that allows customers to compare policies from multiple insurance

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Egypt Edtech UMAMI Launches AI Learning System With EGP 50 Million Investment

Egyptian edtech company UMAMI E-Learning Solutions has launched its Learning Operating System (LOS™), an AI-powered learning platform designed to connect education, skills development, workforce readiness, performance and institutional decision-making within a single system. The new AI learning infrastructure is backed by a phased investment plan exceeding EGP 50 million ($1 million). The funding will support

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Talabat Shares Climb On Dubai Financial Market As Uber’s Delivery Hero Acquisition Talks Advance

Talabat, the Dubai-listed food and grocery delivery platform owned by Delivery Hero, saw its shares rise after Delivery Hero confirmed it is in advanced acquisition talks with Uber, a deal that could reshape the MENA food delivery landscape. Talabat’s stock climbed as much as 2.5% to AED 1.20 (USD 0.33) during Wednesday’s session, outpacing the

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Egyptian Fintech Fawry Secures $10.8 Million MSMEDA Financing To Expand SME And Microenterprise Lending

Egyptian digital financial services provider Fawry has secured a $10.8 million (EGP 550 million) financing facility for its subsidiary, Fawry MSME Finance, from Egypt’s Micro, Small, and Medium Enterprise Development Agency (MSMEDA). The deal expands access to credit for micro, small, and medium-sized enterprises, supporting Egypt’s push toward greater financial inclusion. Founded in 2008, Fawry

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The First Group And Pulse Developments Launch $670 Million Hospitality Push In Sharm El Sheikh, Egypt

British developer The First Group has partnered with Egypt’s Pulse Developments on a $670 million-plus hospitality venture, delivering more than 3,200 hotel units across three projects in Sharm El Sheikh, one of the largest recent hospitality investments in Egypt’s tourism sector. The partners plan to build an integrated platform to develop, operate, and market hotel

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Saudi Startup FLOATY Studio Secures $1 Million From Merak Capital To Expand Mobile Games Worldwide

Saudi mobile game developer FLOATY Studio has raised $1 million through the Merak Gaming Fund (MGF), backed by Merak Capital, underscoring investor confidence in the Kingdom’s growing gaming sector. The round signals rising momentum for Saudi studios building original intellectual property aimed at international markets rather than staying confined to domestic audiences. Founded in 2023,

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Reme-D, Egyptian Molecular Diagnostics Startup, Raises $1.45M Pre-Series A To Scale Africa Operations

Egyptian healthtech startup Reme-D has raised $1.45 million in a Pre-Series A round led by Anara Impact Capital, with Global Innovation Fund and Africa Health Ventures also participating. The Cairo-based molecular diagnostics company develops affordable, temperature-resilient tests for tuberculosis, HIV, hepatitis, and HPV, targeting healthcare gaps across Africa and other underserved markets. Since launching in

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