VC React Podcast (E11): Fintech Consolidations, Open Banking, Payments Solutions, Wealth Managers
VC React Podcast:
Every week, we bring you insights and reactions from top VCs, reacting to the latest news on MENA startups, VCs, and investment rounds. Stay tuned for: expert analysis, independent opinions, and maybe some heated conversations!
Host: Ahmad Takatkah, VCpreneur.
Sign up to VCpreneur Newsletter on https://www.vcpreneur.com/
Co-Host: Jamie Lane, FWDstart.
Sign up to FWDstart Newsletter on https://www.fwdstart.me/
Available on:
Youtube: VC React Podcast
Spotify: VC React Podcast
Apple: VC React Podcast
Amazon: VC React Podcast
Guests:
1. Hasan Haider, Founder and Managing Partner @ Plus VC
- LinkedIn Profile: https://www.linkedin.com/in/hasanhaider/
- VC Firm Website: https://plus.vc/
2. Karim Samakie, Advisor @ Fintech Saudi
- LinkedIn Profile: https://www.linkedin.com/in/karimsamakie/
- VC Firm Website: https://fintechsaudi.com/
3. Kevin Holliday, Managing Director @ C3 -
LinkedIn Profile: https://www.linkedin.com/in/kevin-holliday-5176b4130/
- VC Firm Website: https://wegrowwithc3.com/
In Today's Episode:
News of the week brought to you by FWDstart:
Tabby to acquire Saudi digital wallet Tweeq in move to expand services beyond BNPL
Source: Arabian Business
Summary: Saudi Arabia-based fintech Tabby has announced finalising an acquisition deal of Tweeq, a Saudi-based digital wallet licensed by the Saudi Central Bank (SAMA). Founded in 2019 in the UAE by Hosam Arab, Tabby is a buy now pay later (BNPL) fintech with over $6 billion in annualised transaction volume. Meanwhile, Tweeq, founded in 2020 by Saeed Albuhairi and Abdulaziz Almalki, offers a spending account that allows customers to spend, send, and manage their money. The acquisition will enable Tabby to expand its financial product suite with Tweeq’s digital wallet to offer its customers digital spending accounts, cards and money management tools. In November 2023, Tabby closed a Series D round at $200 million, led by Wellington Management and Bluepool Capital, along with existing investors, including STV, Mubadala Investment Capital, PayPal Ventures, and Arbor Ventures.Tarabut acquires UK payments platform Vyne
Source: Zawya
Summary: UAE-based open banking platform Tarabut has acquired the London-based fintech Vyne. This acquisition bolsters Tarabut’s ability to deliver faster, more accessible, and more interconnected financial services, both across the region and globally. Founded in Bahrain in 2019 by Abdulla Almoayed, Tarabut connects a regional network of banks and fintechs via a universal application programming interface (API). Vyne, founded in 2019, is a real-time account-to-account (A2A) payments platform for online businesses. In May 2023, Tarabut closed a $32 million Series A round, led by Pinnacle Capital, with participation from Aljazira Capital, Visa, Tiger Global and other investors.UAE’s Ziina Raises $22M In Series A Funding To Shift From Payments To Full Financial Services
Source: Forbes Middle East
Summary: UAE-based fintech Ziina has raised $22 million in a Series A funding round, led by US-based Altos Ventures, along with other investors including Fintech Collective, Avenir Growth, Activant Capital, Y Combinator, FJ Labs, MEVP, and Jabbar Internet Group. Founded in 2020 by Faisal Toukan and Sarah Toukan, Ziina helps individuals send and receive payments through its app with just a phone number—no IBAN or Swift Code required. It launched its digital wallet in February 2022.Saudi fintech Malaa secures $17.3 million Series A
Source: Wamda
Summary: Saudi Arabia-based fintech Malaa has closed a Series A funding round at $17.3 million, led by SNB Capital, with participation from Derayah Financial, Khwarizmi Ventures, Impact46, and WKN. Founded in 2021 by Ali Aloraini and Faisal Alqarni, Malaa is a wealth management tool that empowers individuals and organizations for better financial decisions by offering data-driven financial products and services. In March 2022, Malaa raised $1.7 million in a Seed round from leading regional investors.
