{"id":555491,"date":"2021-11-16T04:02:35","date_gmt":"2021-11-16T04:02:35","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/16\/startup-investment-up-33-on-2020-kiwe-closes-first-round-mnt-halan-launches-core-banking-system\/"},"modified":"2021-11-16T04:02:35","modified_gmt":"2021-11-16T04:02:35","slug":"startup-investment-up-33-on-2020-kiwe-closes-first-round-mnt-halan-launches-core-banking-system","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/16\/startup-investment-up-33-on-2020-kiwe-closes-first-round-mnt-halan-launches-core-banking-system\/","title":{"rendered":"Startup investment up >33% on 2020 + Kiwe closes first round, MNT-Halan launches core banking system"},"content":{"rendered":"

<\/a> Investors have put almost USD 2 bn into startups in MENA, Pakistan and Turkey<\/strong> so far this year<\/strong>, with USD 150 mn being deployed in October alone, according to Magnitt<\/a>.<\/p>\n

Putting this in perspective:<\/strong> Less than USD 1.5 bn<\/a><\/sup> was invested in MENAPT startups through the whole of 2020.<\/p>\n

Fintech + e-commerce continue to dominate:<\/strong> Investments grew 10% m-o-m compared to September, with the bulk of the funding going to companies in the fintech and e-commerce sectors.<\/p>\n

Healthcare + transport and logistics also hot:<\/strong> Of the big five sectors, only healthcare and transport saw a y-o-y increase in transaction number during the month, growing by 50% and 300% respectively, according to the report.<\/p>\n

The biggest transaction of the month came in the agriculture sector:<\/strong> Emirati agritech firm Pure Harvest raised USD 64.5 mn<\/a> from a Korean investment firm at the end of October, accounting for almost half of the funding raised by all MENAPT startups during the month.<\/p>\n

November seems to be continuing the trend<\/strong>, with Egyptian startups Rabbit<\/a> and Breadfast<\/a> both closing multi-mn USD rounds.<\/p>\n

A pipeline still backed up from 2020:<\/strong> Magnitt a slowdown in investment activity last year thanks to the pandemic. That said, 2020 was also a good year for MENA startups, with capital inflows climbing to USD 1 bn in 2020<\/a>, up from USD 700 mn<\/a> the year before, despite the economic damage and market volatility caused by the pandemic.<\/p>\n

Egyptian startups <\/strong>landed<\/a><\/strong> some <\/strong>26% of VC funding deployed to MENA in 1H2021<\/strong>, with a total of USD 194 mn pouring into startups in the country, a 30% year-on-year increase from the same period in 2020.<\/p>\n

\n

PAYMENTS NEWS- E-payments app <\/strong>Kiwe<\/a><\/strong> closed its first investment round<\/strong>, led by Digital Finance<\/a><\/a>Holding<\/a> (DFin), with participation from our friends from EFG Hermes, Marakez and other angel investors, according to a press release (pdf)<\/a>. The value of the round was undisclosed.<\/p>\n

Kiwe will use the investment to expand its platform<\/strong>, CEO and co-founder of the startup Fatma Khalifa told Enterprise. The platform provides money pooling, transfer, and payment features that can be used across their portfolio of merchants, which include F&B players, retail and furniture stores, and social commerce platforms, she said.<\/p>\n

\n

ALSO-<\/strong> MNT-Halan has successfully rolled out its Neuron<\/strong> banking software<\/strong>, which will enable it to scale up and handle mns of customers transacting in multiple currencies, the company announced in a press release<\/a>. Launched earlier this year, the core banking software was developed in house, making it the first of its kind in the Middle East and Africa. \u201cWe built this technology to accelerate our trajectory and ability to scale, ensure frictionless transactions, predict customer behavior, and maintain the security of our customers\u2019 data,\u201d said co-founder and CTO Ahmed Mohsen, calling the software a \u201cgame changer.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Investors have put almost USD 2 bn into startups in MENA, Pakistan and Turkey so far this year, with USD 150 mn being deployed in October alone, according to Magnitt. Putting this in perspective: Less than USD 1.5 bn was invested in MENAPT startups through the whole of 2020. Fintech + e-commerce continue to dominate: […]<\/p>\n","protected":false},"author":1,"featured_media":555492,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7258],"tags":[1184,72,183,125,345,95,123],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-555491","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-startup-watch","tag-agritech","tag-enterpriseam","tag-fintech","tag-investment-watch","tag-mena","tag-startup-watch","tag-startups","wpautop","entry"],"acf":{"mongo_id":"6d2b3d87-c61e-49be-90dc-52969d248e48","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/11\/472.png","photo_position":"above","related_issue":[555481],"teaser":"","voice_url":""},"yoast_head":"\nStartup investment up >33% on 2020 + Kiwe closes first round, MNT-Halan launches core banking system - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/16\/startup-investment-up-33-on-2020-kiwe-closes-first-round-mnt-halan-launches-core-banking-system\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Startup investment up >33% on 2020 + Kiwe closes first round, MNT-Halan launches core banking system\" \/>\n<meta property=\"og:description\" content=\"Investors have put almost USD 2 bn into startups in MENA, Pakistan and Turkey so far this year, with USD 150 mn being deployed in October alone, according to Magnitt. 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Egypt\u2019s share of total number of seed funding agreements fell 1% y-o-y, but the UAE, which topped the ranking in\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/1\/583.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":564705,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/22\/mena-startups-break-records-in-2020-with-256-active-investors\/","url_meta":{"origin":555491,"position":1},"title":"MENA startups break records in 2020 with 256 active investors","author":"enterpriseam admin","date":"22 February 2021","format":false,"excerpt":"A record number of venture capital investors provided finance to MENA-based startups last year, despite the disruption caused by the covid-19 pandemic, according to Magnitt\u2019s 2021 MENA Investor Ranking Report (pdf). Last year saw 256 active investors provide capital to startups in the region, up 19% from 2019, the report\u2026","rel":"","context":"In "SPEED ROUND: STARTUP WATCH"","block_context":{"text":"SPEED ROUND: STARTUP WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-startup-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/2\/491.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":566712,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/08\/eight-egyptian-startups-raise-usd-52-mn-in-june\/","url_meta":{"origin":555491,"position":2},"title":"Eight Egyptian startups raise USD 52 mn in June","author":"enterpriseam admin","date":"8 July 2021","format":false,"excerpt":"Egyptian startups were the second highest recipients of funding in MENA in June, with eight businesses raising USD 52 mn, according to Wamda. The majority of that figure comes from Trella\u2019s USD 42 mn funding round co-led by Maersk Growth that was closed late last month. The Trella financing was\u2026","rel":"","context":"In "SPEED ROUND: STARTUP WATCH"","block_context":{"text":"SPEED ROUND: STARTUP WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-startup-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":648307,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/10\/08\/local-startup-funding-rose-219-m-o-m-in-september-but-still-lag-behind-regional-startup-scene\/","url_meta":{"origin":555491,"position":3},"title":"Local startup funding rose 219% m-o-m in September, but still lag behind regional startup scene","author":"enterpriseam admin","date":"8 October 2024","format":false,"excerpt":"Saudi Arabia dominated regional startup funding in September","rel":"","context":"In "Startup watch"","block_context":{"text":"Startup watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/startup-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/10\/528.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":543298,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/23\/2021-was-a-bumper-year-for-emerging-market-venture-capital-funding\/","url_meta":{"origin":555491,"position":4},"title":"2021 was a bumper year for emerging market venture capital funding","author":"enterpriseam admin","date":"23 January 2022","format":false,"excerpt":"2021 was a bumper year for EM VC funding: Among emerging markets, 2021 saw soaring increases in the number of venture capital agreements signed and the sheer scale of funding channeled into startups, according to Magnitt\u2019s recently-released 2022 State of Startup Funding Report for Emerging Markets (pdf). Records were smashed\u2026","rel":"","context":"In "PLANET STARTUP"","block_context":{"text":"PLANET STARTUP","link":"https:\/\/enterpriseam.com\/egypt\/category\/planet-startup\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/1\/493.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":594273,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/10\/24\/egypt-is-the-second-most-active-fintech-startup-hub-in-mena-but-still-receives-little-funding-report\/","url_meta":{"origin":555491,"position":5},"title":"Egypt is the second most active FinTech startup hub in MENA, but still receives little funding -report","author":"enterpriseam admin","date":"24 October 2019","format":false,"excerpt":"STARTUP WATCH- Egypt is the second most active FinTech startup hub in MENA, but still receives little funding: Egypt\u2019s share of 51 disclosed fintech startup funding agreements closed in the MENA region in the first nine months of the year grew to 27%, or about 13 agreements, from only 13%\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2019\/10\/55.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/555491","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=555491"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/555491\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/555481"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/555492"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=555491"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=555491"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=555491"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=555491"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=555491"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}