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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

• 💰️ Notable Exits

• 🏦 About Investors

• 📈 Deep Dive Bites

• 🤝 Diversity Spotlight

• 🚀 Startup Of the Week

• 💼 Investor of the Week

• 🤑 Opportunity Radar

📰 Important News

• The National Bank of Bahrain has launched the GCC's first structured Bitcoin investment in partnership with ARP Digital, offering accredited investors 100% capital protection while enabling them to benefit from Bitcoin's growth amidst market volatility.

• The Saudi Central Bank has licensed BOUABA TSHIL, a micro-consumer financing company specializing in fintech solutions, expanding the total number of licensed financing companies in Saudi Arabia to about 61 while enhancing financial transaction effectiveness.

💸 Top Funding Rounds

• Ejari has raised $14.65 million in seed funding led by PFG and BECO Capital to enhance its technology and expand its "Rent Now, Pay Later" service in KSA.

• Dubai-based 4Partners raised $3.6 million to enhance its regional expansion in the MENA e-commerce market.

• UAE fintech startup OCTA has raised $2.25 million in pre-seed funding to automate accounts receivable for SMEs and expand operations in KSA.

• Core Vision Investment has led a $1.5 million funding round for Krti, enabling the fintech company to launch its digital app in Kuwait and KSA.

• Oman-based fintech startup QPay has secured seed funding led by Cyfr Capital to launch its Buy Now, Pay Later platform.

💰️ Notable Exits

• Nana has acquired Rasseed to enhance its digital services and expand its offerings in Saudi Arabia's digital card market, aiming to improve customer experience and strengthen its position in the e-commerce sector.

🏦 About Investors

• Plus VC has promoted Zainab Al Sharif to Partner, recognizing her pivotal eight-year contribution to the firm, where she will now spearhead investment strategies and support entrepreneurs driving innovation and growth in the venture capital space.

• Oman's Future Fund, a $5.2 billion investment initiative by the Oman Investment Authority, has partnered with IDG Capital and ewpartners to establish funds targeting strategic industries and economic advancement in Oman.

📈 Deep Dive Bites

Explore Bahrain’s thriving startup scene and discover the leading startup studios driving innovation and supporting entrepreneurs across various sectors, from fintech to tech and social impact. Learn how these studios, such as 360 Nautica, Action Labs, and Spring Studios, are shaping the future of the region’s dynamic entrepreneurial landscape through mentorship, funding, and operational support. Check out the full list and dive deeper into how these startup studios are powering Bahrain’s entrepreneurial ecosystem in the full article.

🚀 Startup Of the Week

Introducing our Startup of the Week 🏆

Ejari

Ejari, a Saudi-based startup, has secured $14.65 million in seed funding to enhance its technology and scale its "Rent Now, Pay Later" (RNPL) service, aimed at making rental payments more accessible. The funding round was led by Partners for Growth (PFG) and BECO Capital, combining equity and debt financing, bringing Ejari's total capital raised to $15.65 million in under a year. Founded by Yazeed Al Shamsi and his childhood friends, Ejari was inspired by Yazeed's personal challenges with rigid rental systems, motivating the team to develop a solution that simplifies renting in Saudi Arabia.

💼 Investor of the Week

Introducing our Investor of the Week 🏆

Plus VC

Plus VC, a leading venture capital firm specializing in the MENA region, has announced the promotion of Zainab Al Sharif to Partner after her eight-year tenure with the investment team. This promotion underscores Plus VC's commitment to recognizing internal talent and strengthening its leadership. With over a decade of experience and more than 200 transactions under its belt, Plus VC focuses on Seed to Series A stage investments in Middle Eastern and North African startups. The firm's approach goes beyond mere financial backing, offering extensive training and mentorship to empower entrepreneurs for sustainable growth. Zainab's promotion, backed by her expertise in private equity and venture capital, is expected to further enhance Plus VC's investment strategies and contribute to its continued success in identifying promising startups and fostering innovation in the MENA startup ecosystem.

 🤑 Opportunity Radar

Call for Applications: YC W25

Apply to Y Combinator's Winter 2025 Batch by November 12th, 2024, to supercharge your startup journey. Gain access to a world-class ecosystem, resources, and networking opportunities in the heart of San Francisco. The YC program is designed for founders at all stages, from those with just an idea to companies with significant traction. Begin your application process today and join the ranks of successful startups like Airbnb, Stripe, and Reddit. The batch runs from January to March 2025, featuring weekly meetups, eminent speakers from the startup world, and dedicated support from experienced YC partners. Don't miss this chance to tap into YC's $600B combined valuation network and receive $500,000 in funding to kickstart your company's growth.