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Welcome to another edition of 🔍 Startup Researcher - Middle East, your essential digest delivering the latest news and premium insights on startups and venture capital across the region 🌍

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📰 Important News

• The UAE Central Bank introduced a new Dirham symbol and advanced its Digital Dirham initiative, aiming to enhance global financial standing.

• Intelmatix introduced "Advisor", an AI-powered system that analyzes complex business scenarios and provides data-driven recommendations.

• Bitpanda secured a Virtual Asset Broker-Dealer License from VARA, enabling it to offer 500+ virtual assets to UAE investors.

• Australian fintech startup InDebted is expanding into the UAE as its seventh market, using AI-driven digital debt collection solutions.

• Tesla is launching in Saudi Arabia on April 10 with a Riyadh event showcasing its electric vehicles, solar energy solutions, and AI-driven innovations.

💸 Top Funding Rounds

• Dubai fintech YAP raised $41 million to expand digital banking into Saudi Arabia, Pakistan, Ghana, and Egypt.

• Valeo Health closed a $12 million Series B round led by Flintera to expand AI-driven healthcare across the GCC.

• UAE-based enza secured $6.75 million in seed funding, co-led by Algebra Ventures and Quona Capital, to expand payment solutions across Africa.

• Saudi fintech Nayla Finance raised $4 million in seed funding, led by Sanabil Venture Studio, to expand data-driven microfinance for small businesses.

• Lumi AI secured $3.7 million in seed funding led by AgFunder to expand its no-code data analytics platform.

💰️ Notable Exits

• Saudi developer Umm Al Qura’s shares surged 30% on their Riyadh IPO debut after raising $523 million at a $5.75 billion valuation.

• Basatne has acquired Cartlow to strengthen its position in the Middle East, focusing on sustainable device management and re-commerce.

🚀 Startup of the Week

Introducing our Startup of the Week 🏆

YAP

Dubai-based fintech startup YAP secured $41 million in funding, led by Saudi Arabia’s AlJazira Capital, with participation from Abu Dawood Group, Astra Group, and Audacia Capital, to expand its digital banking platform into Saudi Arabia, Pakistan, Ghana, and Egypt. Founded in 2021 by Marwan Hachem and Anas Zaidan, YAP offers financial services like budgeting tools, spending analytics, card controls, and real-time transaction notifications, partnering with banks instead of holding a banking license. The company has gained over 130,000 users and is working with Bank AlJazira in Saudi Arabia while securing regulatory approvals in Pakistan and Ghana, with plans to enter Egypt soon.

💼 Investor of the Week

Introducing our Investor of the Week 🏆

AlJazira Capital

AlJazira Capital is a prominent financial services company, fully owned by Bank AlJazira, and licensed by the Saudi Capital Market Authority. Established in 2008 with a paid-up capital of $133.3 million, it specializes in securities and offers services such as underwriting, advisory, and custody. Recently, AlJazira Capital made a significant investment, leading a $41 million funding round in Dubai-based fintech startup YAP, aiming to support the company’s expansion into Saudi Arabia, Pakistan, Ghana, and Egypt.

 🤑 Opportunity Radar

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