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Silkhaus, a Dubai-based short-term rental startup, has secured growth funding to expand into Saudi Arabia, enhancing its booking platform amid rising demand for premium accommodations. With strong investor backing, the company aims to dominate the GCC market, targeting luxury and mid-market travelers. Leadership changes include the appointment of Sabine El Najjar as KSA Managing Director, signaling a strategic push into the booming Saudi market.
Tunisia's leading second-hand fashion marketplace, Dabchy, has secured pre-Series A funding led by Janngo Capital and angel investors, aiming to expand into Egypt and enhance its platform. Founded in 2016, Dabchy promotes circular fashion in the MENA region, simplifying the resale of pre-owned clothing and catering to a growing user base. The investment will support broader product offerings and improved user experience, positioning Dabchy at the forefront of sustainable e-commerce.
Silkhaus is expanding into Saudi Arabia, aiming to become the leading short-term rental platform in the Middle East, driven by the region's growing demand for quality accommodations amid Vision 2030. The startup has secured significant funding, positioning itself for growth in the competitive market. In a related development, UAE-based Dubizzle has acquired Egypt's leading online car marketplace, Hatla2ee, enhancing its presence in the automotive sector and leveraging advanced technology to improve user experience in car transactions.
ULA, an Edtech startup, has raised $28 million in Series B funding to enhance AI-powered digital education in the MENA region, focusing on Saudi Arabia. The investment will support the development of a next-generation learning platform featuring personalized education, AR/VR integration, and advanced data analytics, aiming to bridge educational gaps across the Arab world.
Silkhaus is expanding into Saudi Arabia, aiming to become the leading short-term rental platform in the Middle East, driven by the region's growing demand for quality accommodations amid Vision 2030. The startup has raised significant funding, positioning itself for growth in the competitive rental market. Meanwhile, Moroccan AI company ToumAI has secured $1 million to enhance customer experience solutions, while fintech leader Tabby raised $160 million in Series E funding, preparing for an IPO and expanding its digital financial services across MENA.
Telecom service providers from Europe and the U.S. are set to compete against Chinese rivals, particularly Huawei, for a tender to develop Morocco's 5G network. Huawei's established presence in the country gives it an advantage, despite U.S. efforts to limit Chinese influence in Africa. This competition arises amid rising tensions in Washington regarding China's growing footprint in Morocco, which could exploit free trade agreements to circumvent U.S. trade restrictions.
As of December 31, 2023, CA Personal Finance & Mobility managed €113 billion in credit. The company has finalized a joint venture with GAC Group, acquiring 50% of GAC Finance Leasing to enhance electric vehicle leasing solutions in China, where electric vehicles constitute 60% of their leasing contracts. This partnership, established in 2009, aims to support the growing electric vehicle market in China, leveraging GAC Group's significant automotive presence.
Société Générale is pursuing a strategic turnaround by 2026, aiming for a CET 1 ratio of 13%, a cost-to-income ratio below 60%, and a RoTE of 9-10%. Following a strong Q3 2024 performance, with net income soaring to €1.367 billion, analysts are increasingly optimistic about the bank's recovery and its ability to meet these targets. CEO Slawomir Krupa emphasizes a focus on capital build-up and profitability improvement amid ongoing restructuring efforts.
The BRICS bloc, comprising Brazil, Russia, India, China, and South Africa, is set to expand in 2025, with over 20 countries expressing interest in joining, driven by a desire for de-dollarization and a shift in global economic dynamics. U.S. President-elect Donald Trump has threatened 100% tariffs on nations supporting a BRICS currency, emphasizing the need to maintain the dominance of the U.S. dollar. The bloc aims to integrate nations that align with its vision, reflecting its growing influence in international affairs.
The Healthy Foods Market, valued at USD 712.2 billion in 2023, is projected to grow significantly due to rising health awareness and demand for nutrient-rich, organic, and plant-based products. Key players include Nestle, Danone, and PepsiCo, as the market adapts to trends like personalized nutrition and technology integration in food delivery. Challenges such as high production costs and consumer preferences for traditional foods persist, but opportunities for growth remain robust across various regions.
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silkhaus secures funding to expand short term rentals in saudi arabia
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02:02 19.02.2025
silkhaus secures funding to expand short term rentals in saudi arabia
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silkhaus expands into saudi arabia to lead short term rental market
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société générale shows promising signs towards achieving 2026 strategic goals
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