{"id":607898,"date":"2023-10-11T00:00:00","date_gmt":"2023-10-11T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/10\/11\/saudi-egyptian-alliance-mull-local-startup-mazaid-stake-while-akhdar-awfar-and-obm-education-secure-saudi-funds\/"},"modified":"2023-10-11T00:00:00","modified_gmt":"2023-10-11T00:00:00","slug":"saudi-egyptian-alliance-mull-local-startup-mazaid-stake-while-akhdar-awfar-and-obm-education-secure-saudi-funds","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/10\/11\/saudi-egyptian-alliance-mull-local-startup-mazaid-stake-while-akhdar-awfar-and-obm-education-secure-saudi-funds\/","title":{"rendered":"Saudi-Egyptian alliance mull local startup MazAid stake, while Akhdar, Awfar, and OBM Education secure Saudi funds"},"content":{"rendered":"

The latest from Planet Startup: <\/strong> Saudis have a thing for Egyptian startups while McDonald\u2019s Egypt is looking closer to home to find a delivery solutions partner.<\/p>\n

SAUDI-EGYPTIAN INTEREST IN FINTECH STARTUP MAZAID- <\/strong><\/p>\n

Eyes on MazAid: <\/strong> A Saudi-Egyptian group is reportedly eying a 40-49% stake in fintech startup MazAid<\/a>, the company\u2019s founder and CEO Ahmed Ramadan told Al Mal<\/a>. 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\u2019s expansion into other countries. The story carried no further details of the offer.<\/p>\n

About MazAid: <\/strong> 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.<\/p>\n

SAUDI ACCELERATOR BUYS INTO THREE EGYPTIAN STARTUPS- <\/strong><\/p>\n

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

Remember: <\/strong> VMS acquired a minority stake in local accelerator Cashcows<\/a> earlier this year.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Saudi-Egyptian alliance is looking to acquire nearly half of the homegrown startup<\/p>\n","protected":false},"author":1,"featured_media":607899,"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":[72,183,11666,8815,8337,95,123,8543,200],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-607898","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-startup-watch","tag-enterpriseam","tag-fintech","tag-mazaid","tag-mcdonalds","tag-roboost","tag-startup-watch","tag-startups","tag-value-makers-studio","tag-venture-capital","wpautop","entry"],"acf":{"mongo_id":"dfb3d153-e00d-4cef-ac63-81f480497b11","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/10\/558.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Saudi-Egyptian alliance mull startup MazAid stake, while Akhdar, Awfar, and OBM Education secure Saudi funds. 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The startup plans to invest USD 10 mn\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\/2022\/12\/128.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":607898,"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":555678,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/23\/fintech-startup-hollydesk-raises-usd-325k-in-pre-seed-funding\/","url_meta":{"origin":607898,"position":3},"title":"Fintech startup HollyDesk raises USD 325k in pre-seed funding","author":"enterpriseam admin","date":"23 November 2021","format":false,"excerpt":"Homegrown fintech startup HollyDesk raised USD 325k in pre-seed funding in a round led by angel investor Faisal Abdel Salam, reports Hapi Journal. The company has been looking to close the six-figure USD funding round since July, and will use the money to develop the team\u2019s technical capabilities, grow 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\/11\/560.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":571688,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/05\/20\/egypt-led-fintech-startup-tribal-credit-joins-visas-fintech-fast-track-program\/","url_meta":{"origin":607898,"position":4},"title":"Egypt-led fintech startup Tribal Credit joins Visa\u2019s Fintech Fast-Track program","author":"enterpriseam admin","date":"20 May 2020","format":false,"excerpt":"STARTUP WATCH- Tribal Credit, a Silicon Valley-based fintech startup co-founded by two Egyptian entrepreneurs, has joined Visa\u2019s Fintech Fast-Track program, which is designed to help fintech businesses scale up with support from Visa\u2019s experts and resources, according to an emailed statement (pdf). The startup, founded by Amr Shady and Mohamed\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\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":553371,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/12\/01\/six-egyptian-startups-eye-raising-a-combined-usd-250-mn-next-year\/","url_meta":{"origin":607898,"position":5},"title":"Six Egyptian startups eye raising a combined USD 250 mn next year","author":"enterpriseam admin","date":"1 December 2021","format":false,"excerpt":"You think it\u2019s been a crazy-hot year for startups raising funds in 2021? Just wait until next year\u2026 Six Egyptian startups \u2014 Trella, Bosta, Mozare3, Brimore, Teegara, and Koinz \u2014 are looking to raise a combined USD 250 mn in 2022, Bloomberg Asharq reports. It\u2019s unclear how much each company\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\/12\/196.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\/607898","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=607898"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/607898\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/607883"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/607899"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=607898"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=607898"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=607898"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=607898"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=607898"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}