Jordanian ed-tech Abwaab snags $20 mn Series A; UAE’s Verity gets pre-seed

 Jordanian ed-tech Abwaab snags $20 mn Series A; UAE’s Verity gets pre-seed

The Abwaab team

Jordan-based online learning platform Abwaab has raised $20 million in a Series A funding round led by existing investor BECO Capital.

The UAE-based lead investor was joined by the US-based 4DX Ventures and GSV Ventures, and Saudi Arabia’s Watar Partners.

Abwaab was founded in late 2019 by Hamdi Tabbaa, Sabri Hakim, and Hussein AlSarabi. The e-learning platform is directed at secondary school students, offering content tailored to local curricula to fill the gaps in educational resources available online.

The startup said it will use the new money to fuel its expansion plans.

Earlier this year, the Jordanian startup expanded its services to Egypt and also acquired Pakistani ed-tech startup Edmatrix following a $5 million seed round.

It claims to have grown the number of active users on its platform tenfold during 2020-21.

Verity

Verity, a UAE-based financial literacy platform, has raised $800,000 in a pre-seed funding round backed by a bunch of regional venture capital firms and some unnamed angel investors.

The VC firms that participated in the round include Wamda, VentureSouq and Beyond Capital.

Verity, which is essentially a fintech mobile app, aims to start its services in the last quarter of the year. It said the funding will help it go online in the UAE this year. Expansion across the Middle East and North Africa region is slated for 2022.

The startup was founded by Omar Al Sharif, Dina Shoman and Kamal Al-Samarrai. Its app will teach young children and teenagers (aged between eight and 18) to build money management skills such as how to earn, save, give, and spend responsibly with full parental supervision.

Aman Malik

error: Content is protected !!
The Capital Quest