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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 🌍

If you haven't subscribed yet, now's the perfect time. Don't miss the opportunity to supercharge your understanding and stay ahead in this dynamic world.

Let's delve into the core sections of our weekly newsletter:

• 📰 Important News

• 💸 Top Funding Rounds

• 📈 Deep Dive Bites

• 🚀 Startup Of the Week

• 💼 Investor of the Week

• 🤑 Opportunity Radar

📰 Important News

• Hub71 has launched Cohort 15, welcoming 21 international startups that raised over $130 million, increasing its total supported ventures to 243.

• Flat6Labs hosted its sixth demo day in Amman, showcasing seven startups from Jordan, Palestine, Iraq, and Lebanon across various sectors like fintech and regtech, marking the conclusion of the Amman Seed Programme.

• Saudi fintech company Naqdlat has established multiple partnerships with local and Gulf firms aimed at enhancing financial management solutions for small and medium enterprises.

• Exits MENA has partnered with Google to launch the NAQLA program aimed at enhancing investment readiness for startups in the MENA region.

• PayerMax has received the Payment Technical Service Provider certification from Saudi Payments, allowing it to operate its payment gateway services in Saudi Arabia.

💸 Top Funding Rounds

• UAE-based fintech FlapKap has secured $34 million in a pre-Series A funding round, led by BECO Capital, to enhance SME financing solutions across MENA.

• Oman-based cloud kitchen IO Kitchens has successfully raised $2.8 million in Seed funding, led by the Tanmia Small-Cap Fund, aiming to expand its delivery-only meal operations across Oman.

• Regards, a Saudi premium experience gifting company founded in 2021, has secured $1.5 million in seed funding led by Core Vision Investment.

• Saudi Arabia's HissaTech has raised $670,000 in a pre-Seed funding round led by angel investors to enhance its platform for co-owning properties.

📈 Deep Dive Bites

Explore how Middle Eastern startups backed by Y Combinator are revolutionizing various regional industries. From transforming financial services to enhancing logistics and education, these innovative companies are driving economic growth and setting new standards in their sectors. Delve into the full article to see how these startups are shaping the future of the Middle East’s tech landscape with their unique solutions and groundbreaking approaches.

🚀 Startup Of the Week

Introducing our Startup of the Week 🏆

FlapKap

UAE-based fintech FlapKap has raised $34 million in a pre-Series A funding round led by BECO Capital, bringing its total funding to $37.6 million since its inception in 2022. The company, founded by Ahmad Coucha, Khaled Nassef, Sherif Bichara, and Kunal Harisinghani, specializes in providing revenue-based and embedded financing solutions tailored for SMEs in sectors like e-commerce, retail, and restaurants. This new capital will bolster FlapKap's efforts to enhance SME financing across MENA, leveraging AI-powered underwriting and unconventional data sources for rapid and precise funding approvals.

💼 Investor of the Week

Introducing our Investor of the Week 🏆

BECO Capital

BECO Capital, a UAE-based early-stage venture capital firm established in 2012, led a $34 million pre-Series A funding round for fintech startup FlapKap. BECO Capital focuses on supporting innovative tech companies and driving the growth of the tech ecosystem in the MENA region, offering strategic support, mentorship, and data insights to its portfolio companies. The firm has invested in over 40 startups, emphasizing technology-driven solutions and ecosystem development.

 🤑 Opportunity Radar

Alchemist Accelerator

The Alchemist Accelerator is accepting applications for its next program cycle, with a deadline of October 11th, 2024. This six-month accelerator is tailored for early-stage startups that focus on enterprise solutions, offering a structured path to growth through mentorship, access to early adopters, and a global network of investors and experts. With hubs in San Francisco, Tokyo, Memphis, and Munich, Alchemist provides diverse resources to support startups across different regions. The program includes seed funding, strategic guidance, and opportunities for visibility at industry conferences.