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Banque Misr raised its stake in Fawry for 1.47 billion EGP

by WAYA Staff - Mar 24, 2022
Banque Misr raised its stake in Fawry for 1.47 billion EGP

Banque Misr raised its stake in Fawry by buying an 8.85% stake in a EGP 1.47 billion transaction. The bank purchased 151 million shares at an average price of EGP 9.75 per share.

The transaction brings Banque Misr’s total stake in Fawry to 15.78%.

Link holdco bv sold part of its stake in Fawry, by selling 81.6 million shares at an average selling price of about EGP 9.7, bringing the total value of the deal to about EGP 796 million, during which Banque Misr acquired part of those shares.

Also read: Fawry’s cashless transactions exceeds EGP 11 bln in 2021

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Sahaby raised $8.6m in a seed funding round

by WAYA Staff - Mar 23, 2022
Sahaby raised $8.6m in a seed funding round

Sahaby, Saudi-based virtual F&B brands startup, raised seed funding at an $8.6M valuation led by Awaed Investment Company for 15% equity in the startup The startup was founded in 2021 and is specialized in creating cloud brands in the field...

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Cypher Capital launches a $100m blockchain-focused fund

by WAYA Staff - Mar 23, 2022
Cypher Capital launches a $100m blockchain-focused fund

Cypher Capital, a private venture capital firm rooted in the UAE and MENA region, launched a $100m seed fund focused on investments in blockchain, crypto and other digital asset projects. “We are very proud and honored to be launching our first...

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SHUAA Capital launches a $250m venture debt fund

by WAYA Staff - Mar 23, 2022
SHUAA Capital launches a $250m venture debt fund

SHUAA Capital, asset management and investment banking platform, launched SHUAA Venture Partners, a $250 million Shari’ah fund, focused on venture debt investments.   “SHUAA Venture Partners will provide alternative capital solutions to high growth companies across the GCC. We aim to...

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Jordan’s Ahli FinTech invests $190k in InvoiceQ

by WAYA Staff - Mar 23, 2022
Jordan’s Ahli FinTech invests $190k in InvoiceQ

AHLI FINTECH, the financial technology and innovation incubator, accelerator, venture-studio arm, and wholly-owned subsidiary of Jordan Ahli Bank, led the pre-seed investment in InvoiceQ with an investment of $190k. InvoiceQ was among a select few startups that had participated in...

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Skillbee raises $3.2m in a Seed funding round

by WAYA Staff - Mar 23, 2022
Skillbee raises $3.2m in a Seed funding round

Skillbee, a super app for migrant workers, raised $3.2m in seed funding led by Good Capital and Vibe Capital, with participation from Access Bridge Ventures, Wamda Capital, and others. Launched in the UAE amidst Covid-19 to help Indian and other...

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Egypt approves a 130bln EGP financial & social relief package

by WAYA Staff - Mar 23, 2022
Egypt approves a 130bln EGP financial & social relief package

Minister of Finance, Mohamed Maait announced that an EGP 130 billion package of financial & social protection measures has been prepared to deal with the repercussions of global economic challenges and mitigate their effects on citizens. An EGP 2.7 billion...

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Carasti raises $2m in a Bridge round

by WAYA Staff - Mar 22, 2022
Carasti raises $2m in a Bridge round

Carasti, UAE-based Tech startup and car subscription service, raised $2m in its latest funding round. Net Ventures and Rua Growth participated in this round.  Carasti will launch operations in Riyadh, Saudi Arabia this March, allowing customers to subscribe to new and used cars...

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