New Delhi, April 17 -- The UAE-based online classifieds platform Dubizzle Group bought proptech platform Property Monitor in its second acquisition within three months, leading dealmaking activity in the Middle East and North Africa this week.

Besides, at least two Saudi Arabian startups raised funding this week. These were digital signature platform Sadq and construction tech startup TruBuild. While Sadq raised a pre-Series A round, TruBuild raised seed capital.

Meanwhile, overall investment activity in the region declined in March by 76% to $127.5 million on a month-on-month basis, possibly on account of the US trade war, according to data collated by Wamda.

Sadq

Saudi Arabia-based digital signature platform Sadq secured $1.5 million in a pre-Series A round funding to expand its client base. The round was led by X by Unifonic, a VC-style fund of the customer engagement platform.

Founded in 2022 by Abdullah Allahuo and Salem Al-Badawi, Sadq provides a digital signature and document authentication platform to meet national legal and compliance standards.

It plans to utilize the fresh capital to expand its reach within the Saudi Arabian institutions.

TruBuild

Saudi Arabian construction-tech startup TruBuild raised $1 million in seed funding led by Wa'ed Ventures and Dar Ventures to scale operations. Other participants in the round included Plug & Play Ventures, OQAL, Taz Investment, and angel investors.

Founded in 2023 by Bisrat Degefa and Sari Sabban, TruBuild uses artificial intelligence to reduce inefficiencies, improve collaboration, and prevent project variations.

The latest funding will facilitate TruBuild's product development, team expansion, and scaling the business across Saudi Arabia and into global markets.

Dubizzle-Property Monitor

Two months after Dubizzle Group, a UAE-based online classifieds platform acquired an Egyptian online car marketplace, Hatla2ee, it has made another acquisition. In the latest deal, the Dubizzle Group has acquired Property Monitor, a UAE-based proptech, for an undisclosed amount to scale its business by driving operational synergies.

This would be Dubizzle Group's third acquisition within a year. It had acquired Drive Arabia, a UAE-based automotive-focused media and reviews platform in May 2024.

The Dubizzle Group was founded in 2005 by J.C. Butler and Sim Whatley, Dubizzle, and has brands like Dubizzle, Bayut and Drive Arabia in its portfolio. Meanwhile, Property Monitor, founded in 2014, is a real estate data analytics and market intelligence platform that provides property valuations to market players.

The acquisition will accelerate Dubizzle Group's strategy in its real estate offerings, especially for its platform Bayut.

Published by HT Digital Content Services with permission from VC Circle.