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Nqoodlet, a Saudi-based fintech platform, has secured $3 million in seed funding to enhance financial management for SMEs in the Middle East. Founded by Mohamed Milyani and Yara Ghouth, the platform offers smart corporate cards, real-time expense tracking, and financial automation, aiming to streamline operations for over 600 SMEs. The investment will facilitate expansion across the Gulf, new product launches, and partnerships, positioning Nqoodlet as a leader in the region's fintech landscape.
Saudi fintech firm Nqoodlet has secured $3 million in seed funding led by Waad Investments, with participation from OmanTel and others. The platform, founded by Mohamed Milyani and Yara Ghouth, provides financial management tools for SMEs in Saudi Arabia and the GCC, enhancing operational speed by 80% and achieving significant cost savings. The investment will support Nqoodlet's expansion of banking infrastructure and product features, aligning with Saudi Arabia's Vision 2030 goals to boost SME financial inclusion.
The Gulf Cooperation Council (GCC) launched the Tawasul platform to enhance communication between investors and government agencies, promoting regional trade and investment. The initiative, unveiled during ministerial meetings in Kuwait, aims to close communication gaps and position the private sector as a key economic partner. Discussions also focused on harmonizing commercial laws, advancing SME financing, and addressing industrial self-sufficiency and compliance penalties.
The UAE leads the GCC in female representation on public company boards, with women holding 14.8% of seats, a significant rise from 10.8% in 2024. This increase reflects a broader regional trend, as the GCC average reached 6.8% in January 2025, up from 5.2% the previous year. The progress highlights ongoing commitments to enhance gender diversity in corporate governance.
CNTXT AI has launched Munsit, the world's most accurate Arabic speech recognition model, surpassing major competitors like OpenAI and Microsoft. Built in the UAE, Munsit offers real-time transcription in Modern Standard Arabic and over 25 dialects, empowering organizations with full control over Arabic voice data. This innovation marks a significant advancement in AI technology tailored for the Arabic-speaking world.
Trump International Hotel & Tower in Dubai, the first of its kind in the Middle East, will rise 80 floors at 350 meters along Sheikh Zayed Road, offering stunning views of the Burj Khalifa and the sea. The development will feature the world’s highest outdoor swimming pool, exclusive residential offerings, and a private members-only club. Buyers can also opt to pay with Bitcoin, reflecting the project's commitment to luxury and innovation.
Saudi Foreign Minister Prince Faisal bin Farhan and Qatari Prime Minister Sheikh Mohammed bin Abdulrahman bin Jassim Al-Thani co-chaired a meeting of the Saudi-Qatari Coordination Council in Doha, focusing on enhancing cooperation in energy, sports, tourism, and investment. Both sides praised ongoing initiatives and emphasized the importance of their collaboration in political, security, and military areas, highlighting their growing roles as international hubs for sports and culture, which bolster their economies and global standing.
Calo, valued at $250 million, is set to expand into the UK market, integrating Fresh Fitness Food and Detox Kitchen customers by May 2025. The company aims to offer customizable, ready-to-eat meals and plans further European and U.S. expansion, targeting health-conscious consumers. Meanwhile, Maza Ventures, a new Jordan-based seed fund, focuses on supporting deeptech startups from the MENA region, emphasizing transparency and a founder-first approach in its investment strategy.
Zest Equity, a Dubai-based startup, has raised $4.3 million in pre-Series A funding to enhance private market transactions in emerging economies. Founded in 2021, the platform aims to streamline complex deals under $100 million, having already facilitated over $155 million in transactions. With plans for expansion in Saudi Arabia and the UAE, Zest Equity is set to redefine private market infrastructure in the region.
iMENA Group has secured $135 million in pre-IPO funding from investors including Sanabil Investments and FJ Labs, marking a pivotal step in its transformation into iMENA Holding, a Saudi Closed Joint Stock Company. The funds will enhance its stakes in profitable platforms OpenSooq, SellAnyCar, and Jeeny, which are experiencing over 55% annual growth. This investment underscores the confidence in the MENA digital economy and positions iMENA for a potential public listing.
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