JEDDAH: In less than two years of operations, Tabby has had over a million users between the Kingdom and the UAE, and has become a top 10 shopping app in the Kingdom. COVID-19 played a large role in digitization, which Tabby’s KSA General Manager Abdelaziz Saja describes as "an undeniable global phenomenon." He also highlights that the Buy Now, Pay Later (BNPL) payment method
Nuwa Capital, a venture capital firm based in Dubai and Riyadh, announced the first close of its $100 million NVFI fund in February. The close was three-quarters of the target and was done in less than a year following the firm’s launch in February 2020. According to the firm, the second close should be concluded by […]
Aramcoâs Waâed signs agreement with Falak Investment Hub to increase Saudi startup funding
Saudi Arabia-based Falak Investment Hub has signed a memorandum of understanding (MoU) with Wa’ed, the entrepreneurship arm of Aramco, to increase venture capital investment for early and growth stage Saudi startups.
This marks the fifth alliance by Wa’ed with a startup since December of last year, following previous cooperations with Oqal, Taiba Valley Companies, and Namaa Almunawara among others.
The collaboration will also leverage Falak’s acceleration programme, angel network and entrepreneurial bootcamps.
Founded in 2018 by Adwa Aldakheel, Falak offers VC investments as well investment-backed accelerator programme, and is claimed to have generated SAR550 million ($147 million) for the 17 startups in its portfolio.