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Circlys raises $1.33m through crowd-equity funding platform Scopeer

by WAYA Staff - Feb 28, 2022
Circlys raises $1.33m through crowd-equity funding platform Scopeer

Circlys, Saudi-based money-circle platform, raised 5m SAR which accounts to $1.33m in funding at a $24M post-money valuation through crowd-equity funding platform Scopeer. The startup was founded in 2019 and is regulated by the Saudi Central Bank (SAMA), it has 30 partners in its network and 400k users.

Founded in 2018, Circlys provides a solution for financial circles, digitizing the process of collecting and distributing associations, providing a guaranteed service to subscribers and better control over the selection of times of subscription, payment and withdrawal of funds.

The platform aims to use the funds it obtained to support its expansion plans and open a new headquarters, in addition to attracting more employees. Circlys hopes to reach more than 600k users in the coming period.

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Saudi Arabia discovers new natural gas fields

by WAYA Staff - Feb 28, 2022
Saudi Arabia discovers new natural gas fields

Aramco discovered new natural gas fields in four major areas in Saudi Arabia including the Empty Quarter according to the Saudi Ministry of Energy’s statement. The four major areas are in the Central Region, the Empty Quarter, the Northern Border...

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OPay opens its first store in Egypt

by WAYA Staff - Feb 28, 2022
OPay opens its first store in Egypt

OPay Egypt, FinTech and e-payments company, has announced the opening of its first OPay store in Egypt to offer all the company’s services and products for individuals and corporates. The move comes as part of OPay’s expansion plan in the...

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Ukraine receives donations over $10m in crypto

by WAYA Staff - Feb 28, 2022
Ukraine receives donations over $10m in crypto

On Saturday, the official Twitter account of the Ukraine government posted a tweet asking people to donate to two cryptocurrency wallets. Ukraine’s government has raised more than $10m in cryptocurrency donations, according to blockchain analytics firm Elliptic. Total crypto donations...

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Europe uses the Swift as an economic weapon against Russian banks

How will this ban affect Russia?
by Nouran Allam - Feb 28, 2022
Europe uses the Swift as an economic weapon against Russian banks

With the escalation of the current events between Ukraine and Russia, the United States, Canada and a number of European countries announced their support for banning some Russian banks from the Swift.  What is the Swift system and how will...

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Milezmore raises $5m pre-seed round from Brimore

by WAYA Staff - Feb 28, 2022
Milezmore raises $5m pre-seed round from Brimore

Milezmore, a startup that provides cloud fulfillment, last-mile delivery, and customizable operations solutions raised $5m from Brimore, a social commerce platform. In the span of one year, Milezmore experienced tremendous growth and built an infrastructure reaching a warehousing area of...

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Grand Egyptian Museum to be Egypt’s first eco-friendly museum

by WAYA Staff - Feb 28, 2022
Grand Egyptian Museum to be Egypt’s first eco-friendly museum

The Ministry of Tourism and Antiquities and the National Center for Housing and Building Research announced that the Grand Egyptian Museum (GEM) and all its buildings will be green buildings. This will provide environmental, economic and cultural sustainability, and make...

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Milango acquires its local rival Circle

by WAYA Staff - Feb 28, 2022
Milango acquires its local rival Circle

Milango, community management software provider, backed by A15, has acquired local rival Circle, a 500 Startups-backed company. The acquisition will help Milango increase its market share and further solidify its position as the premium community management solution in the region....

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Funding Souq raises $2.5m in a seed round

by WAYA Staff - Feb 27, 2022
Funding Souq raises $2.5m in a seed round

Saudi Arabia-based crowdfunding platform Funding Souq has closed a $2.5m seed round with contributions from various angel investors. Founded in 2020, Funding Souq is a platform that connects investors with established SMEs who are looking to borrow between $20k-150k. Investors...

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