Latest from Wamda
Wamda
a day ago
- Business
- Wamda
Algerian startup Talenteo raises six-figure round backed by 216 Capital
Algeria-based HRTech Talenteo has raised an undisclosed investment from 216 Capital. Founded in 2022 by Tarik Metnani and Louai Djaffer, Talenteo offers a comprehensive SaaS platform for human resources and payroll management tailored to the unique needs of African SMEs and midsized companies. The new six-figure investment will support Talenteo's entry into Tunisia, accelerate product development, and fuel expansion across Francophone Africa. Press release: Tunisia-based venture capital firm 216 Capital has announced a strategic investment in Talenteo, an HR Tech startup founded in Algeria. Talenteo offers a comprehensive SaaS platform for human resources and payroll management tailored to the unique needs of African SMEs and mid-sized companies (ETIs). This investment marks a significant step in Talenteo's journey toward becoming a key digital HR player across the continent. By 2030, Africa is projected to host more than 1 billion working-age individuals, making it the largest talent pool globally. With over 80% of jobs created by SMEs and ETIs, efficient HR and payroll management is critical for performance, compliance, and competitiveness. Talenteo addresses this challenge with a solution designed specifically for the realities of African markets. Already trusted by 150+ companies and over 10,000 active users, Talenteo's platform combines AI, local legal frameworks, and process automation to streamline: Employee administration Time and payroll management Talent development Regulatory compliance The platform helps HR teams reduce time spent on repetitive tasks while enhancing strategic decision-making in a rapidly evolving legal and economic landscape. 'We believe company success stems from investing in people,' said Louai Djaffer, CEO of Talenteo. 'Talenteo was built to help African businesses digitalise their HR processes in support of growth and impact.' Fueling Pan-African Growth with New Investment The six-figure round, led by 216 Capital, will enable Talenteo to: 'Talenteo is the kind of innovation we aim to support — locally rooted, scalable, and built to meet the operational realities of African enterprises,' said Dhekra Khelifi, Partner at 216 Capital Ventures.
Wamda
2 days ago
- Business
- Wamda
SaturnX closes $3 million seed to expand Gulf–South Asia payment corridor
UAE-based infrastructure provider SaturnX has raised $3 million in seed funding, led by White Star Capital with participation from institutional investors. Founded in 2024 by Mirnas Brescic, SaturnX is a stablecoin payments infrastructure company that acts as an API layer for B2B money transmitters and financial platforms. The funding will support SaturnX's expansion into Southeast Asian corridors such as the Philippines, Bangladesh, and Pakistan while enhancing regulatory compliance and building out its enterprise-grade API platform to meet rising demand for digital dollar transfers in emerging markets. Press release: SaturnX, the infrastructure provider for stablecoin-based cross-border payments, today announced the closing of a $3 million seed round. The round was led by White Star Capital, with participation from strategic institutional investors. Mirnas Brescic, CFA - CEO and Founder of SaturnX Founded by Mirnas Brescic, who brings 15 years of experience in FX, treasury, and digital assets across institutions like Rain, Bitpanda and the IAEA, SaturnX serves as a behind-the-scenes API layer for B2B money transmitters, corporates and financial platforms. In just five months of operation, the company has already processed over $250 million in transaction volume while maintaining profitability. The capital will be used to accelerate SaturnX's expansion into new payment corridors in Southeast Asia, including the Philippines, Bangladesh, Indonesia, and Pakistan; strengthen regulatory infrastructure; and continue building its end-to-end API platform for enterprise-grade stablecoin payments. With more than $600 billion in global annual remittance flows and rising demand for digital dollars in emerging markets, SaturnX is positioned to become a critical backend provider for the future of borderless payments by modernising how money moves across borders, offering instant, low-cost stablecoin transfers for financial institutions, fintechs, and global remittance providers. "Our vision is to connect the worlds of decentralised and traditional finance with infrastructure that brings the benefits of stablecoins to everyday financial use cases," said Mirnas Brescic, CEO and Founder of SaturnX. "Despite considerable progress, cross-border payments are still expensive and slow. By offering a faster, cheaper, and programmable alternative, we're helping financial partners unlock better ways to move money, starting with the world's largest remittance corridors." The company pre-funds stablecoin liquidity pools in key markets, aggregates FX pricing in real time, and ensures regulatory compliance via partnerships and licensing pathways. Its flagship corridor, from the Gulf region to South Asia, collectively enables hundreds of millions in annual volume. "We're excited to back SaturnX at the forefront of a new payment infrastructure layer," said Sep Alavi, General Partner at White Star Capital. "They're operating in one of the most strategically important corridors globally, solving a massive pain point for cross-border remittances and B2B payments. Mirnas brings unmatched experience in FX, treasury, and crypto, and he's already shown his ability to execute at speed."
Wamda
2 days ago
- Business
- Wamda
Swypex rolls out spend control card in Egypt
Swypex, Egypt's all-in-one financial management platform, has unveiled the country's first Approval-Based Limits Card, an innovative product designed to modernise how companies manage spending. Available exclusively through the new Swypex Premium subscription, the card introduces dynamic spend limits that unlock only after transactions are reviewed and approved, which gives finance teams real-time visibility and precise control. Mimicking the operational dynamics of petty cash management, the Approval-Based Limits Card acts like a rotating balance, ensuring that no employee's spending exceeds what's been approved. This approach replaces fragmented, manual processes with an automated, policy-enforced financial governance system that drives operational efficiency. 'Egyptian businesses want control without friction, and this card gives them exactly that,' said Ahmad Mokhtar, Co-Founder and CEO of Swypex. 'Approval-Based Limit Cards bring a new standard of precision and agility to business finance. It's the bridge between old-world cash management and seamless, secure corporate spending. This card empowers companies to shift from chasing expenses to controlling them with clarity, speed, and confidence,' he added. Swypex's launch comes as Egypt undergoes a rapid transformation in its financial infrastructure. While more than 74% of adults are now financially included and mobile wallet adoption continues to grow, 94% of business payments remain undigitised, leaving businesses exposed to risk and inefficiency. Swypex is addressing these challenges with local-first solutions that meet global fintech standards. The Approval-Based Limits Card is part of Swypex Premium, which helps businesses unlock their full potential with the most comprehensive financial management platform in the market. The subscription also includes unlimited cashback, dynamic spend controls, and custom approval workflows. 'We build products that specifically cater to the needs of the local market while pushing boundaries and spearheading innovation in the region,' said Tarek Mokhtar, Co-founder and Chief Product Officer. 'From fast-growing SMEs to complex enterprises, Egyptian businesses need financial infrastructure that's powerful, simple, and scalable. That's why we designed Swypex Premium as more than just a tool but rather a comprehensive financial operating system. With advanced spend controls and approval workflows developed to integrate with existing financial processes, we're not just digitising finance; we're fundamentally reshaping how it works in Egypt's evolving economic landscape,' he added. Backed by a $4 million seed round led by Accel, the VC firm's first fintech investment in MENA, and licensed by the Central Bank of Egypt, Swypex is setting a new benchmark for how businesses handle finance. Its all-in-one platform consolidates payments, invoice management, smart corporate cards, and financial workflows into a unified, intuitive system designed to scale with growing companies. Opening an account takes just three minutes.
Wamda
3 days ago
- Business
- Wamda
Sukna Fund provides $20 million credit facility to OCTA
UAE-based fintech Octa has raised $20 million in a credit facility from Sukna Fund for Direct Financing (SFDF). Co-founded by Jon Santillan, Andrey Korchak, and Nupur Mittal in 2024, OCTA automates financial operations for SMEs — covering invoicing, payments, collections, and now embedded credit. The new funding will accelerate OCTA's mission to become a foundational layer for contract-to-cash automation in Saudi Arabia and the wider region. In October 2024, OCTA closed a $2.25 million pre-Seed round, co-led by Quona Capital and Sadu Capital, with participation from Sukna Ventures, Plus VC, 500 Global, and other angel investors. Press release: OCTA, a UAE-based fintech platform streamlining financial operations for SMEs, has announced the closing of a $20 million credit facility from the Sukna Fund for Direct Financing (SFDF). The funding will enable OCTA to embed short-term working capital financing directly into its platform, offering seamless credit access to small and medium-sized enterprises across the Kingdom. Unlike traditional lending processes that require separate applications and banking integrations, OCTA automates financing from within businesses' existing invoicing and payments workflows. The platform empowers companies to access funds the moment invoices are issued or payables come due, eliminating the typical 60-to-90-day cash flow gap that hampers growth. 'Most SMEs don't fail because they lack revenue — they fail because their cash is locked up,' said Jon Santillan, Co-Founder and CEO of OCTA. 'Our partnership with Sukna Fund allows us to bring financing directly into the heart of daily operations, where businesses need it most.' The credit is delivered through OCTA's proprietary platform, integrating smoothly with a company's financial operations stack. Repayments are automated and tied to real-time collections or scheduled payouts, aligning funding with actual cash flow and reducing the operational burden on SMEs. 'We've built the financial operations layer that automates how money moves,' said Nupur Mittal, Co-Founder of OCTA. 'With this facility, we're now also automating how it gets funded.' Sukhdev Hansra, Head of Asset Management at Sukna Capital, added: 'OCTA gives us an embedded distribution layer where capital can move instantly, transparently, and in sync with the operations of real businesses.'
Wamda
3 days ago
- Business
- Wamda
Darwinz AI closes $325,000 seed round to fuel regional growth
Saudi Arabia-based Darwinz AI ( has raised $325,000 in a seed funding round, led by Flat6Labs KSA and Glint Ventures. Founded in Egypt in 2021 by Emad Elazhary and Mohy Aboualam, is the company behind the AI Copilot platform "dima, which enhances productivity for PR professionals, marketers, and brand managers. The new capital will be used to accelerate product development, expand the team in its Riyadh HQ, and prepare for a global launch. Press release: Darwinz AI ( a Saudi-Egyptian company behind the AI Copilot platform dima, which enhances productivity for PR professionals, marketers, and brand managers, today announced it has secured $325,000 in seed funding. The round was led by Flat6Labs KSA and Glint Ventures. Founded in Egypt in 2021 by Emad Elazhary and Mohy Aboualam, has grown its product to operate across six countries and counting, with a client retention rate exceeding 90%. Its flagship product, dima, first launched in September 2024, currently improves daily productivity for PR and marketing experts by over 80%. The new funding will be used to: Accelerate product development, Expand the team at its Riyadh office in The Garage – KACST, and Prepare for the platform's global debut. As a Google Cloud Build Partner, leverages years of experience, continuous learning, and strategic pivots to deliver a robust, rapidly adopted AI solution — with usage tripling since the start of 2025. The company's vision is to scale from a regional leader to a global AI player. 'This round marks a new chapter,' said co-founder Mohy Aboualam. 'We're proud to call a Saudi company with Egyptian roots, and we are excited to scale globally through the thriving ecosystem here. Stay tuned — the best is yet to come.'
