UAE – Pinewood.AI, a leading provider of cloud retail solutions for the automotive industry, has acquired a 90.9% majority stake in UAE-based Seez, a SaaS platform specializing in artificial intelligence and machine learning-driven automotive solutions. The deal, valued at $42 million, is set to be completed by March 19, 2025, pending the successful issuance of […]
Dubai, UAE – In what is being described as the largest cryptocurrency heist in history, Dubai-based crypto exchange Bybit has lost approximately $1.5 billion (Dh5.51 billion) worth of digital assets due to a “sophisticated attack.” Despite the breach, the company has assured users that all functions remain operational and that withdrawal requests have not been […]
Introduction Living in an extremely dynamic world of innovation and economy, the UAE holds a young and ambitious population. With its count of over 40% of young residents below the age of 30, the future of the country greatly depends on the empowerment of this generation in developing the skills to deal with the rapidly […]
Qatar has imposed a 90% reduction on business set-up fees for entities looking to operate at the country’s financial hub, as part of efforts to lower entry barriers for entrepreneurs. The Qatar Financial Centre (QFC) confirmed on Monday that the application fee for licensing an entity on its platform has been dropped from $5,000 to […]
Dubai: Payments company Cashfree Payments, which processes USD 80 billion in payments annually today said it has raised USD 53 Million in funding, a part of which will help accelerate its expansion and market presence in the UAE and the Middle East region, a rapidly growing hub for digital payments and financial innovation. The funding […]
Abu Dhabi, UAE: 2PointZero, a transformational global investment platform and a subsidiary of International Holding Company (IHC), announces the strategic acquisition of Cairo-based Maseera Holding for Financial Investments (“Maseera”). As part of this transaction, 2PointZero will launch a new Abu Dhabi-based entity under the Maseera Holding name. Maseera, which serves low- and middle-income individuals as well […]
MANSA, a global fintech innovator in cross-border payments, has announced the successful close of its $10 million funding round. This marks a significant milestone for the company in its mission to alleviate liquidity challenges for payment companies worldwide. MANSA’s stablecoin-based solution offers payment providers in emerging and mature markets a flexible and reliable way to […]
Source: Forbes Dubai-based self-storage provider The Box has raised $12.5 million in debt financing from investment firm Shorooq, according to a statement issued Thursday. Expanding self-storage solutions The new capital will support the construction of a new self-storage facility in Dubai, bringing The Box’s total debt funding to $31.5 million through various credit facilities since […]
DUBAI, United Arab Emirates – MANTRA Finance FZE (MANTRA), a leading decentralized finance (DeFi) platform operated by MANTRA Group, today announces it has successfully obtained a Virtual Asset Service Provider (VASP) license from Dubai’s Virtual Assets Regulatory Authority (VARA), to operate as a Virtual Asset Exchange, as well as provide Broker-Dealer and Management and Investment Services. This […]
UAE’s Blum raised $5 million in a pre-seed and seed round. The round was led by gumi Cryptos Capital, Spartan, No Limit Holdings, YZi labs and OKX Ventures. Blum is a decentralised trading platform that operates via Telegram. With the funding, it aims to enhance its infrastructure, improve trading functionalities, and expand its operations across […]