Egyptâs Minly raises a $3.6 million Seed round
Egypt-based social media startup Minly has secured a $3.6 million Seed fund, co-led by 4DX Ventures, B&Y Venture Partners, Global Ventures alongside other regional funds and strategic angel investors.
Founded in late 2020 by Mohamed El-Shinnawy, Tarek Hosny, and Bassel El-Toukhy, Minly allows celebrities to record personalised messages for their fans. The platform has more than 50,000 registered users.
Minly will use the investment to expand across the region and broaden its services to allow content creators to create experiences across multiple platforms for their fans.
Press release:
Minly, a platform empowering stars to create authentic, personalised connections with their fans across the Mena region, has closed an oversubscribed $3.6 million seed round co-led by 4DX Ventures, B&Y Venture Partners, and Global Ventures. The round also included participation from other leading regional funds, and a cast of highly strategic an
Hybrid Investment Platform Upper90 Secures $55 Million in Equity Funding Focused on E-Commerce Companies
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Upper90
Big equity rounds can hurt founders ownership stakes and create pressure to scale startups quickly.
Investor Jason Finger says founders should consider raising money through debt instead.
Finger is chairman of Upper90, a credit fund that gives loans to startups.
With more venture money sloshing around than ever before, the conventional wisdom for startup founders today is to raise big financing rounds even if they don t need the cash right away.
But Jason Finger, the former cofounder and CEO of food delivery startup Seamless, says that approach can hurt entrepreneurs and companies alike. While building out Seamless before the company merged with GrubHub in 2013, Finger saw the risks that equity financing posed to founders like himself.
Thrasio raises $750M more in equity for its Amazon roll-up play
The Amazon Marketplace roll-up play is well and truly underway. In the latest development, Thrasio one of the biggest and earliest movers in the market to consolidate third-party sellers on the platform, with the promise to provide better economies of scale to manage and grow those businesses announced that it has raised another $750 million at a valuation that could be between $3 billion and $4 billion, or higher: a spokesperson would only say it was “less than $10 billion.”
The funding is being led by existing backers Oaktree and Advent, and it includes participation from previous unnamed investors. (That list of equity backers has included Peak6, Western Technology Investment, and Jason Finger, the co-founder of one of the early players in food delivery startups, Seamless.)