Seez, a Dubai-based innovator in AI-powered automotive solutions, has announced its proposed acquisition by Pinewood Technologies Group PLC (“Pinewood.AI”) for an equity value of $46.2m in a combination of cash and shares with the share component expected to double in the next 3 years

Entrust, a global leader in trusted payments, identities, and data security, today announced that it has completed its acquisition of Onfido, a global leader in identity verification. With this completed acquisition, Entrust now provides the industry's most comprehensive portfolio of AI-powered, identity-centric security solutions.

With enhanced payment solutions, a unified technology stack, improved data analytics capabilities, and an expanded geographic reach, NymCard and Spotii can deliver a comprehensive suite of payment and financial solutions, attracting a broader customer base and fostering stronger partner relationships.

Egypt-based fintech Money Fellows, has finished the first close of its Series B round with a $31 million investment led by CommerzVentures, MEVP, and Arzan Venture Capital, as well as Invenfin, National Investment Company (NIC), Existing investors Partech, Sawari Ventures, 4DX and P1Ventures also invested in the round.

UAE-based Banking as-a-Service (BaaS) provider NymCard, has raised $22.5 million in a venture round, led by DisruptAD, Reciprocal Ventures, and Shorooq Partners with participation from Chimera, DFDF, Knollwood, Endeavor Catalyst, OTF Jasoor Ventures, in addition to previous and other investors.

Lebanon-based super app toters, has raised $18 million in a Series B round from International Finance Corporation (IFC), March Holding and B&Y Ventures, along with an undisclosed group of investors. The recent funding round will help Toters expand its scale of operations in its home market as well as Iraq.

Derq is developing systems to better understand where danger spots are. The company uses a combination of sensors on roads, artificial intelligence, and computers in cars to notify drivers of potential hazards.

Seez, a Dubai-based startup that helps people buy cars through its mobile app, has raised $6 million in (what it says is) a 5x oversubscribed Series A round.

Sarwa, a Dubai-based low-cost robo-advisory platform, will open a second office in Abu Dhabi as part of a wider GCC expansion, after securing $8.4 million (Dh31m) in Series A funding from investors.

Over the past five years, Phoenician Funds has built a portfolio comprising 20 promising seed and early-stage companies across the Middle East and Africa (MENA).

In their effort to serve the unbanked population, INC. Iraq launched their digital-first payment card in collaboration with Visa and NymCard.

Cairo-based fintech MoneyFellows has raised over $1 million in a bridge round (Pre-Series A), the startup told MENAbytes today.

The 6th Annual ABANA Summit @ Bloomberg brings together more than 100 business leaders with a focus on the MENA region for a half-day program with discussions on Geopolitical Risks, Financial Innovation and Investment Opportunities in the MENA region, Artificial Intelligence and more.

Global identity verification provider Onfido today announced that it’s raised $50 million in funding led by Softbank Investment and Salesforce Ventures, with participation from M12 (formerly Microsoft Ventures), FinVC, and others.