News
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....
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...
Careem is the leading app-based car service in the region covering 20 cities from Morocco to Pakistan New investment from Abraaj, Al Tayyar Travel Group (Al Tayyar) and other investors, including original Series A lead investor STC Ventures, will drive growth into new markets and cement Careem’s leading position in region’s major cities Dubai, UAE,...
Boston – October 7, 2015 – Aquto, a leader in sponsored data monetization, today announced the close of an $8 million Series B funding round led by Iris Capital. The round also included participation from STC Ventures and existing investors Matrix Partners and Northbridge Venture Partners. The company has raised over $16 million to date....
Dubai – September 13, 2015: compareit4me Group, which operates finance comparison websites across the Middle East, has raised $3 million in VC funding. The funding was led by STC Ventures, the VC arm of Saudi Telecom, with backing from Wamda Capital, which is headed up by Aramex founder Fadi Ghandour, and Dubai Silicon Oasis Authority...
Following phenomenal success of its private limousine offering in Saudi Arabia, Careem today announced that they will be adding everyday licensed taxis on demand to its mobile apps in partnership with Al Tayyar Travel Holding Group. Riyadh, June 3, 2015: Careem, established in July 2012, is MENA’s leading app for the booking of private, chauffeur-driven...
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...
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...
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...
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...