August 2020 Newsletter
News and Updates from Global Ventures!
New Investment

We are thrilled to announce our investment in Egypt-based fintech Paymob, a leading digital payments enabler bridging the financial inclusion gap in the MEA region.  42% of Egyptian consumers shop online, yet 91% of these shoppers use cash on delivery as a payment option. In fact, the overall MEA region remains a predominantly cash-based society.  Islam Shawky, Alain El-Hajj, and Mostafa Henessy founded Paymob in 2013 with the ambitious vision of creating digital and cashless economies.  The Company is an electronic payment enabler, offering integrated infrastructure solutions across a wide range of payment methods and channels.  Paymob developed a suite of financial technology solutions and offerings that empower financial institutions, mobile operators, merchants, and end-users.  Read more about our investment here!
Portfolio News
 10 Of The Most Successful Female Tech Entrepreneurs Behind Homegrown Brands In The Middle EastForbes listed  Mona Ataya and Leena Khalil, and   Dana Baki on the list here!
 Egyptian payments startup Paymob raises $3.5 million to fuel its regional expansion.  The round was led by Global Ventures and Dutch Entrepreneurial Bank FMO.  Read the press release on Menabytes.
Cooking food for over 100 restaurants: How a 'ghost kitchen' is adjusting to life in a pandemic.  talks about pivoting during the pandemic, and why innovation is the key to success
 Fintech Saudi Annual Report 2019 - 2020 is one of the FinTech startups in Saudi Arabia that secured funding, with prominent investors partaking in the roundDownload report here.
Global Ventures in the News
Developing a strong vibrant VC ecosystem in the Middle East.  General Partner, Noor Sweid, discussed the region's requirements in terms of VC investments within the startup space as well as strategies to advance the VC funding ecosystem.
 Virtual Internship Program successfully concluded this month, providing interns the opportunity to engage with startups, interact, and build meaningful relationships. Let’s jump into the 23 lessons they learned during the program here.
 Why now is the best time to start a business.  Operating Partner, Said Murad, took part in a discussion with 500 Startups' MENA Managing Partner, Hasan Haider, during RiseUpFromHome.
 Investing in growth markets – Is MEA VC viable post-pandemic?  “Venture investing is about investing in people and finding the right founder who can leverage their assets,” said Noor Sweid during the livestream with Victoria Behn
 What to expect from start-ups in a post-pandemic world.  After crises, industries often ‘platformize’. Technology enables easy purchasing under one umbrella. Which industries will platformize post-Covid? Find out here!
Upcoming Event - Join Us!
General Partner Noor Sweid is participating as a speaker during Elevating Founders Panel on HealthTech on Wednesday, September 2, 2020.  The discussion will be centered around 'What does the future of investing in healthcare look like post-COVID-19'Don't miss it and register now!
Keep Posted

Weekly posts about the MENA venture capital industry, portfolio updates, and more!
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