UAE online grocer YallaMarket, digital lender LNDDO grab early cheques

 UAE online grocer YallaMarket, digital lender LNDDO grab early cheques

YallaMarket, a UAE-based online grocery startup, has raised $2.3 million from local investors led by the Wamda Group and Dubai Angel Investors.

A group of angel investors based out of the MENA region pitched in, too.

YallaMarket was founded this year and is operational in Dubai. It delivers groceries in under 15 minutes.

The startup said its UAE-based team relies on a network of “dark stores” and warehouses and has taken a hyper-local approach to last-mile delivery with a sustainable solution of e-scooters and bicycles for transport.

YallaMarket said it will use the money to continue growing in the UAE and to eventually open up to 100 new dark stores in Dubai and Abu Dhabi as well as expand to Qatar next year.

The startup also plans to launch its own line of ready-to-eat meals, which users will be able to order on its app.

LNDDO

UAE-based business-to-business fintech startup LNDDO has raised $3 million in seed funding from a network of investors led by Sheikh Tahnoon Bin Shakhboot Al Nahayan of the Abu Dhabi royal family.

The startup did not identify the other investors.

Founded in 2019 by Ashraf Ghazaly, LNDDO is a digital lending platform for small and medium enterprises (SMEs) in the Middle East and North Africa (MENA) region. It also provides them with the working capital they can use for purposes such as adding new inventory, hiring staff and marketing campaigns.

The startup said it will use the money to expand its operations into Egypt and Saudi Arabia by 2022.

LNDDO is regulated by the Financial Services Regulatory Authority under Abu Dhabi Global Market jurisdiction.

Aman Malik

The Capital Quest