Startups
Aleph acquires 86% in Connect Ads
![Aleph acquires 86% in Connect Ads, MENA’s Launchpad for Digital Innovations](https://adigitalboom.com/wp-content/uploads/2021/07/A15-connect-ads.jpg)
Aleph Holding, global partner to the world’s biggest digital media players, has today announced its acquisition of 86% of Connect Ads in a cash and shares’ swap transaction.
The acquisition sees Aleph Holding entering the MENA market as it continues its drive to expand globally and increase its presence in new territories, now reaching 90 markets and territories.
Aleph provides leading digital platforms such as Facebook and many others access to new geographies and under-served markets through its complementary suite of digital media service companies which include Httpool, Internet Media Services, Wise.Blue, Social Snack and AdDynamo.
The majority acquisition of Connect Ads extends Aleph’s services across the MENA region through Connect Ads’ more than 14 other exclusive media partnerships with global and leading digital media names including Twitter, TikTok, Verizon Media, Spotify, Adobe Advertising Cloud, Huawei Ads, Bigo Ads and many more.
What this means to MENA
In 2021, Aleph is on track to generate $1 billion in sales with an expanded footprint reaching over 90 markets supported. The acquisition marks a key milestone in this journey.
“There is huge value in expanding throughout MENA, both to serve our current partners and clients and to expand on existing relationships in other parts of the world.”
“We have been following Connect Ads’ growth and geographical expansion over the last five years and I am excited to welcome them to the Aleph family and we will work together with Connect Ads and A15 to make this a successful partnership” said Gastón Taratuta, Founder & CEO of Aleph Holding.
The Value of Growth
“A15 is happy with the phenomenal results, value and growth that Connect Ads created over the years; it validates A15’s venture building strategy in creating outliers. This is A15’s second dragon exit from fund I, and our third major exit overall.” said Karim Beshara, General Partner of A15.
He adds “A15 is looking forward to continuing this journey with Aleph and Connect Ads and contributing to a global digital powerhouse. We are excited about the growth opportunities and potential returns this deal will bring in the future.”
“We see this as a giant leap in the right direction for Connect Ads and all our stakeholders including our teams, partners, and clients. Being a part of Aleph, this truly global structure, will give us more leverage in managing our business as well as global exposure and potential that goes far beyond MENA and EMEA.”
“The numerous synergies and shared vision make this a very exciting time for us. The enhanced accessibility that this entails will enable us to grow faster and bigger than ever before” said Mohamed El Mehairy, CEO of Connect Ads.
Aleph is the largest global digital media partner. In over 90 markets worldwide, the corporation is trusted to connect the biggest players in digital media with the advertisers that rely on them.
Aleph helps advertisers maximize the value of their investment through a complete service ecosystem – comprising innovative proprietary technology, digital expertise and deeply embedded local market knowledge.
Our teams help brands to master the leading digital platforms, bringing them closer to their customers. These services are delivered through their portfolio of digital media service brands: IMS; Httpool; WISE.BLUE; Social Snack; and AdDynamo.
At the same time, Aleph acts as an extension to the leading players in digital, giving them access to new and under-served markets. Their global infrastructure and scale mean that they can build any market into a new success story.
As a trusted partner to the whole of the digital community, Aleph believes that growth generates growth. That is why they hold the key unlock the last mile in digital media.
Startups
Rising from Debt: Al Nashmiah Farms’ Battle to Empower Indebted Women
![Rising from Debt: Al Nashmiah Farms' Battle to Empower Indebted Women](https://adigitalboom.com/wp-content/uploads/2024/02/Alnashmiah-farms.jpg)
Al Nashmiah Farms, committed to aiding women burdened by debt and facing the threat of incarceration, offers a novel solution for them to earn their way to freedom. Under the leadership of Razan Harb, motivated by her family’s financial struggles, the farm has become a pivotal force in rescuing those ensnared in the debt trap, providing them with employment and a sense of purpose.
Harb, observing the plight of many women who took loans in hopes of improving their families’ fortunes, only to be overwhelmed by unfortunate circumstances, economic downturns, and oppressive taxes, has established a farm that serves as both a source of employment and a supplier of high-quality produce to major markets.
The farm’s operations include the provision of household essentials, emphasizing the importance of quality through methods such as nitrogen sterilization and the use of healthy packaging. Additionally, Harb has initiated work-from-home opportunities, enabling women to engage in the packing of vegetables and fruits for market and direct sales, thereby offering a sustainable model for economic independence and recovery from debt.
News
GoDaddy’s Global Markets VP Predicts Egypt’s E-commerce to Hit $9.88 Billion by 2028
![GoDaddy's Global Markets VP Predicts Egypt's E-commerce to Hit $9.88 Billion by 2028](https://adigitalboom.com/wp-content/uploads/2023/12/Selina-Bieber-the-Senior-Director-of-Global-Markets-at-GoDaddy.webp)
Selina Bieber, the Senior Director of Global Markets at GoDaddy, has predicted a significant increase in Egypt’s e-commerce revenue. By 2028, it could reach $9.88 billion.
Godaddy is forming strategic partnerships and launching initiatives to help local entrepreneurs. These efforts align with Egypt’s digital transformation goals and its Vision 2030.
In an interview with the Arabic financial news “Amwal Al Ghad,” Bieber spoke about GoDaddy’s plans and how they match Egypt’s 2023 strategy. She highlighted the company’s aim to provide effective, easy-to-use digital tools and services. By 2024, GoDaddy wants to serve more customers in Egypt by making its digital tools more widespread.
The company is working closely with the Egyptian government, especially the Ministry of Planning. They are offering training programs to improve the digital skills of startups and existing businesses. GoDaddy’s services in Egypt include domain registration, web hosting, e-commerce solutions, and digital marketing tools.
Recent surveys support Bieber’s positive outlook for e-commerce in Egypt. They show a clear trend towards digital strategies among small businesses. Many are realizing the importance of having an online presence for their growth and success.
As GoDaddy continues its partnerships and supports government digital initiatives, its influence on Egypt’s digital landscape is growing. The company is committed to sustainability and reducing its carbon footprint. It aims not just for business growth but also to contribute to a sustainable and thriving digital economy in Egypt.
The 2028 projection indicates a vast potential for e-commerce, with GoDaddy playing a key role in this digital evolution.
Apps
Saudi Fintech ‘Lendo’ Raises $28M in Series B Funding
![Lendo Secures $28M in Series B Funding Led by Sanabil Investments, Eyes IPO](https://adigitalboom.com/wp-content/uploads/2023/12/Untitled-3-1.webp)
Lendo, a Saudi Arabia-based shariah-compliant debt crowdfunding marketplace, has raised SAR 105 million ($28 million) in Series B funding led by Sanabil Investments, a wholly-owned company by the Public Investment Fund (“PIF”). The round saw participation from Shorooq Partners, AB Ventures and other investors.
Lendo is a Shariah-compliant, debt crowdfunding marketplace that helps pre-finance outstanding invoices for businesses in Saudi Arabia. The platform is a community of creditworthy borrowers and sophisticated investors looking for alternative investments. The platform is licensed by the Saudi Central Bank (SAMA). Lendo will use the funds to support its fast-growing customer base in Saudi Arabia which has grown 3X year-on-year, introduce more innovative financing products, and accelerate market expansion plans.
“With this funding round, we are going to expand into new markets, support new and current customers, and launch new Shariah-compliant products, all the while continuing to innovate the marketplace for digital lending. We are going to make financial services more accessible, affordable, and inclusive for everyone. I am excited to see what the future holds for our company,” said Osama Alraee, CEO, and co-founder of Lendo, who also disclosed its plans for an IPO within the next few years.
Alraee has also expressed his gratitude to SAMA (Saudi Central Bank), Fintech Saudi, MCIT, Misk, and Monshaat for their unwavering support, emphasizing the pivotal role they have played in advancing financial inclusivity and fostering innovation in partnership with Lendo to reshape the financial landscape. Their dedicated efforts in advancing financial inclusivity and fostering innovation have been invaluable to us. We greatly appreciate their partnership in our mission to transform the financial landscape
Commenting on the announcement, Sanabil Investments said: “Lendo is a leading fintech company that is transforming the financial services industry in their specialist area of Shariah-compliant digital lending for SMEs. The Lendo team, especially the founders, Osama and Mohamed, have achieved a significant amount in a relatively short period, and we are eager to join their journey of increasing access to flexible financial solutions in Saudi Arabia and the region at large.”
“The growing demand for alternative, agile, and accessible lending solutions presents a significant opportunity. At Lendo, we are well-positioned to lead the charge in promoting financial inclusion not only in Saudi Arabia but also beyond. By fueling SME growth, we aim to contribute to the realization of Saudi Arabia’s Vision 2030 economic goals and to create a ripple effect of opportunity throughout the MENA region,” said Mohamed Jawabri, COO, and co-Founder of Lendo.
Lendo previously raised a SAR 27 million Series A funding round ($7.2 million) in 2021 led by Derayah Ventures with participation from Seedra Ventures and other investors, bringing the fintech’s total funding to SAR 132 million ($35.2 million).
Since the inception of Dec 2019, Saudi fintech Lendo has processed more than 2,500 financing transactions on its platform, providing over SAR 1 billion ($300 million) in financing to SMEs and generating SAR 140 million ($37 million) returns for investors.
The Small and Medium Enterprise financing landscape in the Middle East and North Africa (MENA) presents a substantial market opportunity as limited financial access continues to restrict the growth of the region’s businesses, with commercial banks hesitant to issue loans to SMEs at scale, resulting in a high percentage of declined financing requests annually. According to the International Finance Corporation (IFC), the SME financing gap is estimated at SAR 19.5 trillion ($5.2 trillion) every year in developing countries.
Lendo’s debt crowdfunding platform aims to bridge the financing gap for SMEs, which aligns with the Saudi Vision 2030 to significantly expand SME lending from 4% in 2018 to 20% by 2030.
The total value of debt crowdfunding in Saudi Arabia surged from 1.4 million SAR in 2019 to SAR 771 million in 2022, marking a remarkable 430% growth, according to SAMA’s annual fintech report 2022.
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