DP World builds out Saudi network + Epic Markets raises USD 10 mn

DP World opens its first multi-user Saudi warehouse: DP World kicked off operations at a 15.25k sqm facility in Riyadh’s Al Mashael Logistics Hub, its first multi-client third-party logistics warehouse in the Kingdom, Al Bayan reports. The non-bonded site offers more than 17k pallet positions alongside scalable storage, inventory management, import consolidation, and distribution. It is designed to handle goods after customs clearance so that inventory can move straight into domestic distribution.

Another node in DP World’s Saudi network: The Riyadh warehouse will integrate with the company’s existing logistics operations in Dammam and its port-led investments in Jeddah — including the USD 250 mn, 415k-sqm Jeddah Logistics park and the expansion of the South Container Terminal. DP World is also adding 700 trucks across the GCC, capable of supporting up to 35k trips a month.

Fintech player Epic Markets raises USD 10 mn pre-seed

UAE-based fintech Epic Markets secured USD 10 mn in a pre-seed funding round from London-based investor Karatage, according to a press release. Founded earlier this year, the Dubai-based startup is building a multi-asset brokerage platform targeting retail customers with institutional-grade trade capabilities and smaller retail investors. Capital will be going toward product development and tech expansion ahead of the platform’s launch.