The Finance World Magazine| Edition: December 2023

Fintech News
Raiven Capital Unveils $125M Startup Fund in Dubai
Raiven Capital has unveiled its
latest venture, a $125M fund
established within the Dubai
International Financial Centre
(DIFC). This fund is strategically
directed towards backing founders
pioneering technology in AI, the Internet
of Things, and Distributed Ledger
Tech, with a strong focus on digital
platforms reshaping value chains across
diverse sectors like finance, energy,
health, environment, and food. It aims
to foster innovation among early and
growth-stage tech companies in the
GCC, South Asia, and North/East Africa
regions, empowering them to reach
leadership status by connecting them to
European and North American markets
through Raiven’s new Dubai hub. This
initiative plays a pivotal role in bridging
the growing demand for venture capital
in the tech industry, which has been
witnessing rapid expansion in the UAE
and the wider region. MENA venture
capital funding for Q3 2023 recorded
significant growth, with $250M raised
across 78 deals, a 32 percent increase
compared to the preceding quarter.
Climate Tech VC: MENA and Turkey Startups Attract
$651M
CE-Ventures, the corporate
venture capital platform of
Crescent Enterprises, has
collaborated with MAGNiTT
to introduce ‘The State of Climate
Tech Venture Capital Report.’ This
comprehensive report delves into the
dynamic landscape of climate tech
investments in the Middle East and
North Africa (MENA) and Turkey,
offering valuable insights into the sector’s
evolving trends, challenges, and
opportunities. The report emphasises
the significance of harnessing innovative
technologies to combat climate
change. It underlines the potential of
existing technologies to mitigate 65%
of emissions and highlights the need
for further advancements to bridge
the remaining 35% emissions gap. This
report acts as a valuable resource for
understanding the climate tech investment
landscape in the region.
CQUR Bank Chooses Finastra for Online Banking
Transformation
Finastra has confirmed a strategic
partnership with CQUR
Bank, paving the way for the
bank to enhance its technology
offerings. By integrating Finastra’s
Trade Innovation and Corporate
Channels solutions, CQUR Bank is
set to introduce a cutting-edge online
banking portal, ensuring a seamless
user experience for its corporate
clients. This initiative will also usher
in new digital workflows and hostto-host
integration solutions, thereby
modernising and optimising the bank’s
corporate client services, aligning with
its technology strategy and reinforcing
its commitment to providing innovative
and efficient banking solutions.
UAE’s Thriving Proptech
Scene: 6 Fast-Growing
Startups
The global surge of property technology,
or prop-tech, is making
waves in the Middle East, offering
the potential to revolutionise the
real estate industry, enhancing accessibility,
efficiency, and sustainability. In the
Middle East, this trend is gaining momentum
as home seekers, landlords, and
agents increasingly embrace cutting-edge
digital platforms for advanced property
management tools, exploring new real
estate investment prospects, and benefiting
from streamlined transactions. In this
burgeoning prop-tech landscape, several
startups are rapidly making a mark. Notable
among them are Huspy, Property
Finder, Nomad Homes, Keyper, Stake,
and Silkhaus. Their recent achievements
and forthcoming endeavours promise to
reshape the real estate landscape in the
Middle East.
20 www.thefinanceworld.com December 2023