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UAE-Based MyBenefits Looks to Expand into the GCC Following Seed Round

UAE-Based MyBenefits Looks to Expand into the GCC Following Seed Round
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Saudi arabiaMusaab al hakamiSherif zakiTurki aljeaidQudrah national holdingQudrah nationalசவுதி அரேபியாஷெரிப் ஸாகீ

MyBenefits raises $780,000 Seed round

MyBenefits raises $780,000 Seed round UAE-based employee benefit platform MyBenefits, has raised a $780,000 Seed round from EdgeGlobal, with participation from individual investors; Musaab Al Hakami, Turki AlJeaid. Founded by Sherif Zaki, MyBenefits offers a SaaS platform that enables companies to streamline and standardise their staff discounts, rewards and benefits. It operates across nine countries in Mena and has 300 companies listed on its platform. MyBenefits claims to have registered an annual growth rate of 30 per cent, and doubled its customer base in the first quarter of 2021. It plans to use the fresh funds to expand into the GCC and for talent acquisition.

Saudi arabiaMusaab al hakamiSherif zakiTurki aljeaidMiddle eastNorth africaசவுதி அரேபியாஷெரிப் ஸாகீநடுத்தர கிழக்கு

Rise of angels: More money or more inexperienced investors?

Rise of angels: More money or more inexperienced investors? Angels are coming forth in the Middle East, more ready than ever to start investing in startups. Over the past year, several new angel investment networks have emerged, while existing networks are expanding their activities, hoping to contribute to, and benefit from the growth of startups and their technology. What began as a rather informal landscape, with keen investors coming together every so often to invest in startups in the region, has bourgeoned into well-established networks and syndicate structures providing crucial early-stage investment. Across the startup funding spectrum, angel investment is focused on the seed to pre-Series A investment stage, typically before a startup has a proven track record. Ticket sizes can range from $10,000 to $100,000 and in some cases, reach a few million. Given these smaller cheque sizes, angel investors tend to be more agile than traditional venture capital (VC) firms and respon

Saudi arabiaAl qahirahAsh shariqahUnited arab emiratesAr riyaMusaab al hakamiAfrica menaSaleh alrasheedKushal shahZeina mandourNader aboshadiArabia najdSharjah angel investors networkAngel investing forumAngel investing forum riyadhSharjah research