WNR: Here’s what happened in MENA this week

WNR: Here’s what happened in MENA this week

The region’s leading employee benefits platform ,Bayzat, has closed a Series C funding round, raising $25 million. The funding round was led by DisruptAD, ADQ’s venture platform, alongside Ischyros New York, a global hedge fund. 

To date, Bayzat has raised more than $60 million in funding by receiving backing from leading investors such as Mubadala Capital, and Point72 Ventures.

Saudi Arabia and Japan have signed new agreements on energy cooperation, extending the partnership of two strong economies as they continue to focus on the sector.

The agreements mainly focus on the areas of the circular carbon economy and carbon recycling, as well as green hydrogen, fuel ammonia and derivatives.

KashNow, a subsidiary application of Noqood Holding, has launched a new and diverse set of services and digital payment options available to both companies and individuals. 

Facilitating reliance on digital payments through the KashNow application, the offering comes in cooperation with Fawry, the leading company in digital transformation of electronic payments.

Saudi Agricultural and Livestock Investment Co (SALIC) has successfully acquired a minority stake of 35.4% in Singapore-based commodity trader Olam Group through its wholly owned subsidiary, Olam Holdings Pte. Ltd. for SAR 4.65 billion ($ 1.24 billion).

SALIC is a wholly-owned subsidiary of Saudi Arabia’s sovereign wealth fund, PIF.

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