The latest from Planet Startup: Saudis have a thing for Egyptian startups while McDonald’s Egypt is looking closer to home to find a delivery solutions partner.

SAUDI-EGYPTIAN INTEREST IN FINTECH STARTUP MAZAID-

Eyes on MazAid: A Saudi-Egyptian group is reportedly eying a 40-49% stake in fintech startup MazAid, the company’s founder and CEO Ahmed Ramadan told Al Mal. He added that the acquisition is expected to wrap up by the end of the year and the proceeds will be used to fund the company’s expansion into other countries. The story carried no further details of the offer.

About MazAid: Founded in 2021, MazAid is a fintech platform that aims to connect mns of unbanked individuals and businesses in the country with Financial Regulatory Authority-regulated lenders and financial institutions.

SAUDI ACCELERATOR BUYS INTO THREE EGYPTIAN STARTUPS-

More equity investments for VMS: Saudi accelerator Value Makers Studio(VMS) has made equity investments in three Egyptian startups, according to Al Mal. The firm reached agreements with education app Akhdar, software company Awfar, and student career advising startup OBM Education at the recent Techne Summit in Alexandria, the founder of the event told the newspaper.

Remember: VMS acquired a minority stake in local accelerator Cashcows earlier this year.

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