New Delhi, July 25 -- Qlub, a UAE-based contactless dining payment platform, led the funding activity in the Middle East and North Africa (MENA) region this week, raising an eight-figure growth funding from notable regional investors to fuel geographical expansion.

Startups that raised early-stage funding included Oman-based fintech platform SafaQat and predictive analytics startup ZabonEx, UAE-based SaaS provider Journify, and Egyptian fintech platform Flend.

Key fundraises in July so far include UAE-based deeptech startup XPANCEO's $250-million Series A round at a $1.35-billion valuation-making it the UAE's 12th unicorn-and Saudi Arabia's SaaS platform Lucidya's $30-million Series B funding.

Qlub

UAE-based fintech Qlub raised $30 million in a new round led by Shorooq Partners and Cherry Ventures to fuel global expansion. The round also saw participation from e&, Mubadala Investments, and Legend Capital.

Founded in 2021 by Eyad Alkassar and Mahmoud Fouz, Qlub is a contactless dining payment platform that enables diners to instantly view menus, order, and pay via smartphone.

The latest round brings Qlub's total fundraising so far to $72 million. In 2023, it had raised $25 million from a slew of investors, including Al Dhabi Capital, STV, Shorooq, and Raed Ventures.

The startup plans to use the fresh capital to expand into new geographies, enhance product analytics, and deepen integration with hospitality platforms. Currently, it operates in nine countries, with a strong presence in the UAE, Saudi Arabia, and Singapore.

SafaQat

SafaQat, an Oman-based digital procurement and purchasing platform, raised funding from Oman Future Fund and Idrak Group to scale its business.

Founded in 2020 by brothers Majed, Sulaiman, Ibrahim, and Al Moatasem Al Saifi, the platform digitizes the tendering process. It has evolved from a quote-sharing tool into a comprehensive solution supporting competitive procurement through digital tenders.

SafaQat currently hosts over 2,486 users, 1,260 tenders, and 2,784 registered suppliers.

It plans to use the investment to improve technical infrastructure, user experience and AI capabilities, expand into government procurement, and enter new markets.

ZabonEx

Oman-based predictive analytics startup ZabonEx raised $100,000 in pre-seed funding led by Future Fund Oman and ITHCA Group.

Founded in 2023 by Hatim Moosa and Almuhannad Al Balushi, ZabonEx offers a B2B SaaS platform that equips F&B producers, distributors, and retailers with customer-level demand forecasting. It offers real-time insights on when and where the products will be consumed, helping F&B producers, distributors, and retailers optimize inventory, reduce waste, and enhance profitability.

The startup aims to use the funds to improve its predictive engine, expand the tech team, and build strategic partnerships across Oman's food supply chain.

Journify

UAE-based SaaS provider Journify secured strategic investment from Shorooq Partners, Bunat Ventures, and Plug and Play. Earlier this year, it had raised $4 million in funding, led by venture capital firm Silicon Badia.

Founded in 2023 by Taoufik El Jamali and Amine Chouki, Journify offers an AI-powered SaaS platform that captures, unifies, and activates first-party data in real time, helping enterprises optimize marketing performance and future-proof data infrastructure.

The latest investment will be used for hiring across engineering, product, and commercial teams, and driving further expansion in key GCC markets.

Flend

Egyptian fintech Flend secured $3 million in seed funding through a mix of equity and debt.

The equity round was led by Egypt Ventures, with participation from Camel Ventures, Sukna Ventures, Plus VC, Banque Misr, and family offices, including El Sewedy and Baalbaki. Debt financing came from MSMEDA and local banks.

Founded by Ahmed Zaki, Nehal Helmy, and Saif Edeen El Bendari, Flend is an FRA-licensed digital non-banking financial institution (NBFI) that enables fully digital lending for SMEs, right from onboarding and credit scoring to disbursement and collection. Flend integrates directly into platforms that serve SME supply chains across sectors like agri-food, healthcare, e-commerce, manufacturing, retail, and export.

It aims to use the funding for expanding its team and partnerships, and enhancing its tech infrastructure.

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