News

Compareit4me secures $2.4 million investment in latest round of funding

Region’s leading financial comparison website receives further backing from existing investors, while also attracting investment from influential collection of new investors. Dubai, 25 September, 2016: compareit4me.com, the leading financial comparison website in the Middle East, has announced that it has received a total of $2.4 million in investment through its latest round of bridge funding....

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STC Ventures and Hewlett Packard Ventures complete an equity investment in Scality as an addition to Series D.

Accelerating growth with strategic equity investment, engineering collaboration, and sales programs SAN FRANCISCO –January 12, 2016 –?Today, Scality, the leader in software-defined storage for the information age, announced an enhanced partnership between Scality and Hewlett Packard Enterprise (HPE) designed to accelerate the adoption of software-defined object and file storage with enterprises and service providers who...

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STC Ventures announces investment in Modanisa.com

Istanbul, Turkey, February 25, 2015: STC Ventures (Saudi Telecom’s corporate ventures fund) and Aslanoba Capital, the leading Turkish venture capital investor, announced today that they have recently concluded a USD 5 million investment in Modanisa.com, the world’s top Islamic clothing website. The investment agreement signed between Modanisa.com and the investors at Borsa Istanbul (BIST) Private...

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Careem acquires Taxiii in Morocco

Careem Networks, the Middle East’s leading private car booking service acquires Morocco based car booking service TAXIII’s assets and brings founder, Yassir EL ISMAILI EL IDRISSI and all TAXIII team onboard. Careem Networks announced today that they have acquired Taxiii’s assets as part of their strategy to become the leading ground transportation provider in the...

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Careem, the Middle East’s leading private car booking service acquires Saudi based address coding service enwani and brings co-founder, Dr. Abdulla Elyas into the fold

Careem announced today that they have acquired enwani co-founded by Dr. Abdulla Elyas, as part of their strategy to provide leading ground transportation solutions in Saudi Arabia. Elyas will follow the business into Careem to lead the development and expansion of Careem across the Kingdom. KSA, Riyadh: Careem, the UAE-headquartered app and web-based chauffeur-driven car...

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Corporate venturing in Saudi Arabia

In the past few years, Saudi Arabia has witnessed an interesting trend in the venture capital industry: major corporations have set up corporate venturing arms for their own strategic and financial objectives and to tap into the high growth potential in the region. The foci of these venture funds are in telecommunications and information technology...

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