{"id":555643,"date":"2021-11-22T04:06:44","date_gmt":"2021-11-22T04:06:44","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/22\/venturesouq-launches-usd-50-mn-mena-fintech-fund\/"},"modified":"2021-11-22T04:06:44","modified_gmt":"2021-11-22T04:06:44","slug":"venturesouq-launches-usd-50-mn-mena-fintech-fund","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/22\/venturesouq-launches-usd-50-mn-mena-fintech-fund\/","title":{"rendered":"VentureSouq launches USD 50 mn MENA fintech fund"},"content":{"rendered":"

<\/a> Dubai-headquartered<\/strong> Venture capital firm <\/strong>VentureSouq<\/a><\/strong> has formally launched a USD 50 <\/strong>mn fintech fund<\/strong> that has already made several investments in Egyptian startups this year, it said in a statement (pdf)<\/a>. The MENA Fintech Fund I has deployed capital in Egyptian digital trucking platform Trella<\/a>, which this year closed a USD 42 mn series A round<\/a>, and fintech startup Dayra<\/a>, which raised USD 3 mn in pre-seed funding<\/a> in March.<\/p>\n

About the fund:<\/strong> The MENA Fintech Fund I invests in early-stage fintech and software-as-a-service (SaaS) companies, with a special focus on payments infrastructure, alternative credit, digital banking, and personal financial management. The fund is backed by sovereign wealth funds including Saudi\u2019s Public Investment Fund, Mubadala, ADQ and Bahrain\u2019s Mumtalakat, as well as multinationals such as the Olayan Group\u2019s Middle East investment arm OFC. The fund is billing itself as the first fintech-only fund with a MENA-plus-Pakistan focus.<\/p>\n

The beneficiaries so far: <\/strong>The fund has also invested in North African super-app Yassir<\/a>, GCC-based buy-now-pay-later Tabby<\/a> and Saudi B2B marketplace Sary<\/a> among others. Crunchbase shows VentureSouq has made at least 95 investments since inception.<\/p>\n

The VC has always had an appetite for fintech:<\/strong> Prior to the fund, the VC invested in a number of FinTech companies, including Jeeves<\/a>, Khatabook<\/a>, FamPay<\/a> and Fondeadora<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Dubai-headquartered Venture capital firm VentureSouq has formally launched a USD 50 mn fintech fund that has already made several investments in Egyptian startups this year, it said in a statement (pdf). The MENA Fintech Fund I has deployed capital in Egyptian digital trucking platform Trella, which this year closed a USD 42 mn series A […]<\/p>\n","protected":false},"author":1,"featured_media":555644,"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":[2852,72,95,123,2482,200,3250],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-555643","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-startup-watch","tag-dayra","tag-enterpriseam","tag-startup-watch","tag-startups","tag-trella","tag-venture-capital","tag-venturesouq","wpautop","entry"],"acf":{"mongo_id":"226394e3-18c3-4fb2-be6c-1a9478bf5f35","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/11\/546.jpg","photo_position":"above","related_issue":[555634],"teaser":"","voice_url":""},"yoast_head":"\nVentureSouq launches USD 50 mn MENA fintech fund - 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\/22\/venturesouq-launches-usd-50-mn-mena-fintech-fund\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"VentureSouq launches USD 50 mn MENA fintech fund\" \/>\n<meta property=\"og:description\" content=\"Dubai-headquartered Venture capital firm VentureSouq has formally launched a USD 50 mn fintech fund that has already made several investments in Egyptian startups this year, it said in a statement (pdf). The MENA Fintech Fund I has deployed capital in Egyptian digital trucking platform Trella, which this year closed a USD 42 mn series A […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/22\/venturesouq-launches-usd-50-mn-mena-fintech-fund\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2021-11-22T04:06:44+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/546.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/22\/venturesouq-launches-usd-50-mn-mena-fintech-fund\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/22\/venturesouq-launches-usd-50-mn-mena-fintech-fund\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"VentureSouq launches USD 50 mn MENA fintech fund\",\"datePublished\":\"2021-11-22T04:06:44+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/22\/venturesouq-launches-usd-50-mn-mena-fintech-fund\/\"},\"wordCount\":217,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/22\/venturesouq-launches-usd-50-mn-mena-fintech-fund\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/546.jpg?fit=%2C&ssl=1\",\"keywords\":[\"Dayra\",\"EnterpriseAM\",\"Startup watch\",\"startups\",\"Trella\",\"venture capital\",\"VentureSouq\"],\"articleSection\":[\"Startup watch\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/22\/venturesouq-launches-usd-50-mn-mena-fintech-fund\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/22\/venturesouq-launches-usd-50-mn-mena-fintech-fund\/\",\"name\":\"VentureSouq launches USD 50 mn MENA fintech fund - 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Mahfouz said in public comments that\u2026","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\/2021\/8\/37.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":560757,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/11\/fintech-startup-dayra-raises-usd-3-mn-in-pre-seed-funding-round\/","url_meta":{"origin":555643,"position":1},"title":"Fintech startup Dayra raises USD 3 mn in pre-seed funding round","author":"enterpriseam admin","date":"11 March 2021","format":false,"excerpt":"Egyptian fintech startup Dayra has closed a USD 3 mn pre-seed funding round that includes both equity and debt financing, according to a company press release (pdf). EFG EV Fintech, EFG Hermes, Tanmiya Capital Ventures and a number of angel investors all participated in the round, which closed after the\u2026","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\/2021\/3\/171.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":618702,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/04\/18\/beltones-vc-arm-partners-with-ci-vc-to-manage-a-usd-30-mn-startup-fund\/","url_meta":{"origin":555643,"position":2},"title":"Beltone\u2019s VC arm partners with CI VC to manage a USD 30 mn startup fund","author":"enterpriseam admin","date":"18 April 2024","format":false,"excerpt":"The fund has already deployed funds in a number of startups across the region","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\/4\/1175.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":555643,"position":3},"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":[]},{"id":557384,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/16\/fintech-startup-dopay-raises-usd-18-mn-in-series-a-round\/","url_meta":{"origin":555643,"position":4},"title":"Fintech startup Dopay raises USD 18 mn in series A round","author":"enterpriseam admin","date":"16 September 2021","format":false,"excerpt":"Egypt-based fintech startup Dopay has secured USD 18 mn in funding in a series A round led by UK VC firm Force Over Mass Capital, Dutch development bank FMO and NN Group, the company said in a statement yesterday. African investor Mbuyu Capital and Nordic fund Alder Tree Investments also\u2026","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\/2021\/9\/226.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":555643,"position":5},"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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/555643","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=555643"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/555643\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/555634"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/555644"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=555643"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=555643"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=555643"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=555643"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=555643"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}