INFOGRAPHIC: Startup Funding in Africa and the Middle East — Week 25
Here are the venture funding activities we tracked in the Middle East and African region this week – Qstay, NOW Money and Orisdi
- Qstay Raises $4.6 Million in Pre-Series A Round Led by Prominent Investors
- NOW Money Secures $4 Million in Equity Round to Boost Financial Inclusion
- Orisdi Secures Six-Figure Investment to Expand E-commerce Leadership in Iraq
Qstay Raises $4.6 Million in Pre-Series A Round Led by Prominent Investors
- Qstay, a Dubai-based hospitality and rental investment property management platform, has raised $4.6 million in a pre-Series A funding round. This round brings the company's total funding to $11.1 million and was secured through a mix of conventional and convertible debt.
- Co-founded by Artur Khayrullin and Alec Redelman, the hospitality tech startup uses AI-powered customer service and digital concierge services to enhance guest experiences and reduce operating costs. The company currently manages over 300 properties in nine markets across four countries and aims to continue its expansion between 2024 and 2026.
- With the new funding, Qstay plans to accelerate growth, expand into new markets, and enhance its platform's capabilities.
