$445 million was invested in the region’s startups through 39 transactions, a significant jump from the mere $7 million raised across 11 acquisitions reported in April. A major boost came from Tabby, a BNLP startup, which raised a substantial $350 million in a loan round. Saudi Arabia followed closely with $6 million raised through 15 deals. After deducting Tabby’s debt round, the total amount raised in the region amounted to $95 million, with the UAE contributing $71.6 million. However, the latest figures indicate a strong rebound, providing a positive outlook for the region’s startups.

Source: The North Africa Journal June 19, 2023 08:16 UTC