Series B

Series A

Pre-Seed

Seed

Others

Unknown Series Round

Pre-Series A

Abu Dhabi

Ali Qaiser

Ivo Detelinov

Syrine Ben Mansour

If you're ready to take your business to the next level with Oryx Fund, we want to hear your pitch.

Investment in Startup

Find all about Oryx Fund: funding focus, key investments, and market strategy. Discover insights on Lucidity Insights.

Oryx Fund

Healthcare

Oryx Fund, a MENA-focused investment fund under Hambro Perks, specializes in investing in transformative early-stage technology companies ranging from Seed to Series A.

Dubai

Merit Incentives

Technology

Merit Incentives is a global engagement technology and solutions company that helps businesses boost customer and employee engagement through its innovative enterprise solutions.

London

44.01 Climate Tech

Green Tech

Environmental Engineering

We eliminate CO2 by turning it into rock using the natural power of mineralisation.

Grubtech

Software Dev/Test

SaaS

Foodtech

Payment

Restaurants

Cloud Kitchen

Food Delivery

Delivery

Enterprise Software

Grubtech is a unified commerce engine for Enterprise F&B, Grocery, and Pharmaceutical Merchants using multiple online sales channels and back-end operations

Sarwa

Fintech

Sarwa is an online platform that makes investing in global markets simple and affordable for investors in the Middle East.

Holo

Proptech

Advisory and Consulting

Finance

Real Estate

Investment

Property

Financial Services

Loan

Holo is the first digital mortgage platform in the Middle East with access to over 500 mortgage products for free.

Riyadh

Debt Financing

Ejari

Rental

Ejari is a Saudi real estate technology company that provides a rent now and pay later service for residential units.

Valeo Health

Fitness

Wellness

Healthtech

Health Care

Valeo Wellbeing is a personalized health tracking and guided wellbeing app that gives its users control over their health

PE Round

NOW Money

Mobile Payments

Banking

NOW Money uses mobile banking technology to bring accounts and remittance to the unbanked population of the Middle East.

BARQ App

Logistics & Storage

Information Technology

Barq is the leading company in providing bullet delivery service, setting higher standards for speed, reliability, and customer satisfaction in the logistics industry.

Alma Health

Alma Health is a digital health platform that simplifies the lives of people with chronic conditions and those who care for them by harnessing the power of technology.

Hala Insurance

Insurance

Hala is building the Middle East's first full stack insurance company, with a focus on car and home insurance.

Penny Software

Predictive Analytics

Software

Procurement

Penny Software offers a cloud-based Procure-To-Pay system designed to digitize and manage the entire procurement cycle, from request to approval, including RFQ management, quotation comparison, PO issuance, and payment processing.

Growdash

Analytics

Business Intelligence

Growdash is a business intelligence and analytics tool built specifically for restaurants to support profitable growth strategic decisions.

Yela

Digital & ICT

Qanooni

Legal Tech

Artificial Intelligence (AI)

Machine Learning

Qanooni is a platform that was built by lawyers for lawyers, embedded completely within Word and Outlook.

Jeddah

Grant

Barakah

Food and Beverage

Marketplace

Waste Management

Sustainable

Barakah is an online marketplace for food retailers to sell their surplus products & meals.

Fundbot

Onex

Dubai-headquartered Merit Incentives, a&nbsp;customer and employee engagement solutions platform,&nbsp;has raised $5 million (SAR 18.7 million) in a Series A round, the company announced Tuesday. The latest funding round was led by Impact46, with participation from the Arzan Financial Group, Hambro Perks Orca, and other regional investors.

UAE’s Rewards Platform Merit Incentives Raises $5M In Series A Round For Expansion

UAE-based Merit Incentives, a customer and employee engagement platform, has raised $5 million in a Series A round led by Saudi’s Impact46 along with Tech Invest Com, Arzan VC, Hambro Perks Oryx and several regional angel investors. 
Founded in 2016 by Julie Barbier-Leblan, Merit Incentives began as a B2C gifting solution and has expanded to offer B2B engagement tools and technologies.
It now operates its own rewards network of 5,000 partner brands across 100+ countries, with 500+ retailers and merchants in the GCC. Its clients including Riyad Bank, Vodafone, Mubadala and Amazon and claims to have 20 million end-users globally.
Merit Incentives plans to use this funding to grow its team into new territories and invest in its technology.
The company has offices in Saudi Arabia, Kuwait, Egypt, Jordan and UK, along with a technology lab and development team located in Pakistan. Merit expects to triple its research and development resources across offices by the end of 2022.
Press release:

Merit Incentives, a leading developer of innovative customer and employee engagement solutions announced a $5 Million Series A investment round, led by Riyadh-based venture capital fund Impact46 along with Tech Invest Com, Arzan VC, Hambro Perks Oryx and several regional angel investors. 

What started as a B2C gifting solution has expanded to become one of the most engaging technology and consulting firms specialized in developing the latest B2B engagement tools and technologies. Currently, Merit offers its B2B2C services to a diverse portfolio of large enterprises, including Riyad Bank, Vodafone, Mubadala, Adidas and Amazon.

Merit Incentives’ products include Rewardsby, a Software as a service (SaaS) loyalty and rewards marketplace made up of nine distinctive engaging redemption modules, and GiftCardsby - the most advanced SaaS digital gift card platform on the market, enabling instant sales and redemptions from retailers.

Julie Barbier-Leblan, CEO and Founder of Merit Incentives said: “We are thrilled to have received strong support from such prominent investment firms. While we had the option of securing international investors our ambition has always been to raise funds from within the region, as this is where our business first launched. We believe in the Middle East’s fast-growing market which allows us to serve our international clients’ needs with agility and efficiency.” 

The engagement startup operates its own rewards network of 5,000 partner brands across 100+ countries, with 500+ retailers and merchants in the GCC alone, making it a firm that delivers on its promise of ‘thinking globally, acting locally’. In a sign of Merit Incentives’ bright future ahead, it recently surpassed a landmark milestone of 20 million end-users globally

“We are amid a new era where users require unique yet meaningful experiences with companies they like and trust. It has now become imperative for businesses to engage directly with their customers, and internally with their employees, to create a constant dialogue and emotional bond at every touch point. We believe that the key to success is for leaders and managers to be able to align customer and employee engagement to support their vision, using SaaS technologies, and strong digital content, and Merit Incentives is uniquely positioned to accomplish just that,” Barbier-Leblan continued. 

“With the team led by Julie and talented individuals from various backgrounds in tech, banking, & retail. Merit is set to tackle a great opportunity within the business engagement technology sector. The company has been able to expand within the GCC with a global mindset while maintaining a good grasp of the local enterprise and SME market.” said Basmah Al Sinaidi, partner at Impact46.

Merit Incentives plans to use this funding for the growth of their team into new territories, and further investment in technology, building on the existing artificial intelligence and machine learning capabilities of its solutions. 

In addition to its headquarters in Dubai, the company has offices in Saudi Arabia, Kuwait, Egypt, Jordan and UK, along with a technology lab and development team located in Pakistan. With a strong focus on in-house development, Merit expects to triple its research and development resources across offices by the end of 2022.

Merit Incentives announces $5 million Series A round led by Impact46

Merit Incentives has successfully raised $12 million in an oversubscribed pre-Series B funding round, surpassing its initial goal of $5 million. The round was led by Alistithmar Capital i-Cap and included participation from existing Series A investors such as Tech Invest Com and Hambro Perks Oryx Fund. The funds will be used to enhance Merit's customer engagement technology and expand its operations, particularly in Saudi Arabia, where it plans to triple its distribution of rewards and gifts in 2024. The Saudi Investment Bank's newly launched SAIB Venture Studio also participated in the investment, marking its first venture into supporting innovative digital solutions.

Next-gen global engagement tech leader Merit secures $12M, surpassing $5M Goal in Oversubscribed Pre-Series B Financing

Merit, a customer and engagement technology company based in Riyadh, Saudi Arabia, raised $12 million in Pre-Series B funding. The round was led by Alisthithmar Capital i-Cap, with participation from existing Series A investors including Tech Invest Com and Hambro Perks Oryx Fund. The company plans to use the funds to expand operations and development efforts.

Merit Raises $12M in Pre-Series B Financing

Merit Incentives, a Riyadh-headquartered rewards and engagement platform, raised $12 million in an oversubscribed pre-Series B round. The round was led by Alistithmar Capital i-Cap, the investment arm of The Saudi Investment Bank, with participation from existing investors Tech Invest Com and Hambro Perks Oryx Fund. Originally planning to raise $5 million, the funds will support Merit's expansion and strategic projects, particularly in Saudi Arabia's tech innovation ecosystem.

Saudi’s Merit raises $12 million pre-Series B for its customer rewards and engagement platform

Merit Incentives, a developer of customer and employee engagement solutions, secured a $5 million Series A investment round from Saudi-based venture capitalists, led by Riyadh-based VC fund Impact46.

Dubai's Merit Incentives secures $5m funding to fuel Middle East expansion

Abu Dhabi based Insurtech, Hala, has raised $5m led by Entr&eacute;e Capital, with participation from Mubadala Investment Company, EQ2 Ventures, Global Founders Capital, 500 Startups, and Hambro Perks Oryx Fund. The funds will be used to expand its new products such as home insurance, as well as growing the company further in the rest of the Middle East, starting with Saudi Arabia.

Hala raises $5 million in Series A

Holo, the first online platform to provide free digital mortgage services in the Middle East, has today announced seven-figure funding in their latest seed round. Investment in Holo&rsquo;s latest funding round was led by Saudi-based Watheeq Proptech Venture and Hambro Perks Oryx Fund. New regional participation came from DFDF, Annex Investments,&nbsp; and Tawaref Angel Network.&nbsp;&nbsp;

Holo secures seven-figure Seed round

The oversubscribed funding round was headed by DFDF and Oryx fund, who reaffirmed its commitment with a third investment, with the addition of Aditum Investment Management Limited.

Prop-tech Powerhouse Holo Raises Funds to Streamline the Home-Buying Journey

UAE-based fintech Holo has announced a seven-figure Seed round, led by Saudi Arabia’s Watheeq Proptech Venture and Hambro Perks Oryx Fund, with participation from Dubai Future District Fund (DFDF), Annex Investments, and Tawaref Angel Network.  
Launched in 2019 by Michael Hunter and Arran Summerhill, Holo aims to simplify the process of owning a home by offering digital mortgage services, where buyers and homeowners can explore refinancing options. The new funding will fuel Holo’s expansion plans into the KSA, set to take place in 2023. Holo is a Wamda Capital portfolio company.

Holo, the largest direct mortgage platform in the Middle East, announces the completion of an oversubscribed funding round.

With Series A funding on the horizon, the company, having surpassed targets, decided to extend an opportunity to investors to further invest in the business through a pre-Series A round. The oversubscribed funding round was headed by DFDF and Oryx Fund, who reaffirmed their commitment with a third investment, with the addition of Aditum Investment Management Limited.

With the injection of capital, Holo is strategically directing its efforts towards enlarging its market presence in the UAE. Furthermore, the funding enables team expansion and the development of key product lines, as well as expanding the company's footprint across the GCC, with an immediate focus on KSA.

UAE-based proptech, Holo, announced raising funds in a Pre-Series A round led by DFDF and Oryx Fund, with participation from Aditum Investment Management Limited.

Holo, which focuses on mortgages, will use the funds to enlarge its market presence in the UAE. Furthermore, the funding enables team expansion and the development of key product lines, as well as expanding the company’s footprint across the GCC, with an immediate focus on KSA.

UAE Proptech Holo Raises Funds in Pre-Series A Round Led by DFDF and Oryx Fund

GrubTech, a plug &amp; play, all-in-one operating system for restaurants and cloud kitchens, announced it has successfully raised a&nbsp;$13 Million&nbsp;Series A investment led by Addition. Other investors in this round include BY Ventures and Hambro Perks Oryx Fund.

GrubTech Raises $13 Million in Series A Funding Round to Accelerate Its International Growth Strategy

Grubtech, a leading SaaS integration and unified commerce platform that empowers F&B and Quick Commerce enterprises, announced it has raised $15 million as part of its Series B and a Series A extension round.  The Series B round was led by the VC arm of Jahez Group, a leading online food and quick commerce marketplace listed in Saudi Arabia, with the participation of existing investors Addition and Oryx Fund, the MENA-dedicated fund of Hambro Perks.

Grubtech Raises $15 Million

Yela&#39;s first pre-seed round of funding has been led by American investors Justin Mateen, a co-founder of Tinder and General Partner of JAM Fund, and Sean Rad, also a co-founder of Tinder and General Partner of RAD Fund. Other Silicon Valley-based investors include Graph Ventures, championed by Razmig Hovaghimian, who is a Board Member at Rakuten. In addition, investment has also come in from the UK through Samos Fund, Ascension Ventures, as well as from the MENA-based Hambro Perks Oryx Fund.

Celebrity Messaging And Creator Platform Yela Launches In The MENA With US$2.2 Million Pre-Seed Investment

Alma Health, an Abu Dhabi-based healthcare startup has announced it has received funding from the Hambro Perks&#39; Oryx Fund, a dedicated venture fund backing early-stage startups across the Middle East and North Africa (Mena), with a particular focus on healthtech, fintech, and edtech. Strategic angels from Saudi and the UAE have joined the round as well.

Alma Health receives investment from Oryx Fund

Abu Dhabi-based Alma Health has secured $10 million in a Series A funding round led by Knuru Capital and Hamro Oryx Fund, with participation from e& capital, S3 Ventures, Pinnacle Capital, and Khwarizmi Ventures. The funds will be used to expand regionally, particularly into Saudi Arabia, and to enhance their technological infrastructure. Alma Health aims to become a leading direct-to-patient healthcare provider focusing on chronic condition management, offering services like virtual consultations, home lab tests, and medication delivery.

"We Got Funded!" Abu Dhabi-Based Alma Health Secures US$10 Million In A Series A Funding Round Alma Health is a fully-verticalized digital healthcare provider dedicated to transforming the lives of individuals living with chronic conditions

RIYADH: Saudi delivery&nbsp;startup BARQ has secured $4 million in a seed round. The money will be used to expand the firm&rsquo;s&nbsp;geographic footprint in the Kingdom and diversify its&nbsp;product offerings. The round was led by early stage venture capitalists&nbsp;OTF Jasoor Ventures,&nbsp;and Hambro&nbsp;Perks Oryx Fund &mdash;&nbsp;a Middle East and North Africa-focused investment fund&nbsp;according to Magnitt.

Saudi delivery startup BARQ secures $4m seed round

BARQ has closed an investment round of $4.9 Million with Jahez International Company, as the lead investor and participation from Oryx Fund, GSI Ventures, Sultan Holding and others angel investors

BARQ's LinkedIn Post

Barq Delivery Services announced the closure of a $4.9 million investment round led by Jahez and the participation of Oryx Fund, GSI Ventures, and Sultan Holding, bringing the value of the company’s total investments since its inception in 2020 to $9.9 million, as it had previously announced the closure of a seed funding round in February last year

Barq Delivery Services closes a $4.9 million investment round led by Jahez to support its growth and innovation plans.

We raised $15 Million. This money is going to allow us to grow, so we can better serve you.&nbsp;Three years ago we launched Sarwa with a small team and a simple mission: to help people in the MENA region achieve financial independence by demystifying the tools the ultra-wealthy had at their disposal. Today, with over 40,000 registered users, the support of the community, and an incredible team, Sarwa continues to push forward on its mission: smart investing made easy, accessible to all regardless of their background, age, or net worth. The Series B round was led by&nbsp;Mubadala&nbsp;Investment Company with&nbsp;500 Startups, Kuwait Projects Company, Shorooq Partners, Middle East Venture Partners, DIFC, Hambro Perks Oryx Fund, HALA Ventures, and Vision Ventures also participating.

We Raised $15 Million in Our Series B Funding Round

Sarwa raised $15 million in a Series B funding round led by Mubadala. The funds will be used to fuel regional growth, develop new products, and expand the team. Other investors include 500 Startups, Kuwait Projects Company, Shorooq Partners, Middle East Venture Partners, DIFC, Hambro Perks Oryx Fund, Hala Ventures, and Vision Ventures. Sarwa aims to democratize investing with its robo-advisory platform, which uses AI to tailor investment portfolios.

Sarwa secures $15m in funding round led by Mubadala

Dubai-based fintech Sarwa has raised $15 million in a Series B funding round led by Mubadala Investment Company, with participation from 500 Startups, Shorooq Partners, Middle East Venture Partners (MEVP), DIFC, and others. The funds will be used to expand Sarwa's market position, grow its team, and launch new products such as Sarwa Trade and Sarwa Crypto. Representatives from Mubadala and 500 Startups will join Sarwa's board of directors.

Dubai-based fintech Sarwa raises $15 million in Mubadala-led funding round led

Growdash, a Dubai based purpose-built SaaS platform that enables restaurant marketing and operational teams to build, execute and manage profitable growth strategies across digital sales channels, today announced it has raised AED6.8 million ($1.8 million) in a Seed round. The seed funding was led by Oryx Fund, a MENA focused investment fund from Hambro Perks, and Oraseya Capital, the venture capital arm of Dubai Integrated Economic Zones Authority (DIEZ).

Growdash was launched in 2022 by Sean Trevaskis and Enver Sorkun, former employees of Talabat, the online food delivery company. Together, they have built Growdash into the leading restaurant analytics and business intelligence technology in the region, working with over 300 restaurant brands across 4000 locations in the UAE, Kuwait, and Qatar.

Growdash closes Seed round at $1.8 million

Penny Software, the procurement enterprise software company raised $5M in a seed round led by Outliers Venture Capital, and with participation from Shorooq Partners, Hambro Perks ORYX Fund, Wamda, Class 5 Global, and strategic angel investors.

Wamda participates in Penny Software's $5 million Seed round

Penny Software, a Saudi B2B SaaS procurement startup, has completed its Pre-Series A funding round with investments from Iliad Partners, GSI, and Knollwood Investments, along with continued support from existing investors like Dallah Investment and Hambro Perks Oryx Fund. The funding will support Penny Software's regional and global expansion plans, aiming to manage over $1B USD in Gross Transaction Value this year. The company focuses on digitizing the Source-to-pay process and enhancing procurement efficiency for medium to large corporations, particularly in the Middle Eastern markets.

Penny Software welcomes investment by Iliad Partners, GSI,...

Penny Software, a Saudi Arabia-based B2B SaaS procurement startup, has secured a pre-Series A funding round in April 2024. The round was led by Iliad Partners, with additional investments from GSI, Knollwood Investments, Dallah Investment, Hambro Perks Oryx Fund, Class 5 Global, and Altuwajiri family fund. The amount raised was undisclosed.

Penny Software Secures Pre-Series A Funding | The SaaS News

Penny Software, founded in 2020, has secured Seed funding from Iliad Partners to fuel its regional and global expansion. The company, which digitizes the procurement process, aims to manage over $1 billion in transaction value this year. The investment marks Iliad Partners' first venture into the Saudi market, aligning with their strategy to invest significantly in the Kingdom over the next five years.

Penny Software raises undisclosed pre-Series A round

Wamda has participated in KSA-based Penny Software's $5 million Seed round, which was led by Outliers Venture Capital, and with participation from Shorooq Partners, Hambro Perks ORYX Fund, Class 5 Global, and strategic angel investors.

Saudi Arabia-based foodtech startup Barakah has raised a $1.5 million Seed round led by Hambro Perks Oryx Fund, with participation from 500 Global, +VC, KAUST Innovation Ventures, Annex Investments, and angel investors.
Founded in 2021 by Rabah Habiss, Munira Al Muammar, and Abdulaziz Al Saud, Barakah helps restaurants, bakeries, and groceries fight food waste by enabling them to sell their surplus inventory through its app. In the span of 10 months, Baraka helped its partners deliver 100,000 meals.
Barakah currently covers Riyadh and Jeddah, with plans to expand to other cities in Saudi Arabia on the back of the recently-acquired funds, which will also help the startup improve its product offering.

Barakah raises $1.5 million Seed round for its food waste solution

UAE-based healthtech Valeo Health has raised $12 million in its Series B funding round, bringing total funding to date to $20 million. 

The round was led by Flintera, with participation from existing investors Nuwa Capital, FJ Labs, Oryx, and Mindshift Capital, as well as new investors like Oraseya and Eirad.

The investment will be used to accelerate the company’s mission to make personalised, science-backed healthcare solutions more accessible across the KSA, UAE, and the rest of the GCC.

Oryx Fund

Funding Deals, by Startup Growth Stage

Funding Deals, by Region

No. of Portfolio Companies

Total No. of Investments Globally, by Year

We Invest in Startups in the Following Stages

Statistics

Sectors we invest in

Top 3 sectors we invest in

Portfolio Companies
or Investments

Executive Team Members

Oryx Fund

Funding Deals, by Startup Growth Stage

Funding Deals, by Region

No. of Portfolio Companies

Total No. of Investments Globally, by Year

We Invest in Startups in the Following Stages

Statistics

Sectors we invest in

Top 3 sectors we invest in

Portfolio Companies or Investments

Executive Team Members

Portfolio Companies
or Investments