The CTO Show Brief: Issue 137

Author

Mehmet Gonullu
September 21, 2025

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 Welcome to Issue 137 of The CTO Show Brief!

Fintech continues to dominate MEA’s startup scene, with Saudi’s HALA ($157M Series B) and Tamara ($2.4B facility) leading a wave of landmark deals. Across Africa, Kredete ($22M) and Float (R46M) highlight growing momentum in financial inclusion, while AI players like Egypt’s Intella ($12.5M) and Saudi’s Sindbad Tech ($48M) signal the region’s rising bet on deep tech.

Globally, the AI race has shifted from software to infrastructure—NVIDIA’s Rubin CPX GPUs, SpaceX’s $17B spectrum grab, and $320B+ in hyperscaler investments mark the new moat: chips, spectrum, and energy.

Whether you’re one of our 2,730 subscribers or a first-time reader—grab your coffee, and let’s dive into what’s shaping tech and venture this week!

MEA Tech Momentum

Fintech Funding & Partnerships

  • Nigeria’s fintech sector, driven by a large unbanked population and high mobile penetration, has attracted over $2B in investments since 2021, with successes like Paystack’s $200M Stripe acquisition and Flutterwave’s $3B valuation. Government policies like Payment Service Bank licenses and the eNaira CBDC bolster its position as Africa’s digital finance hub, with projections of $20B market size by 2030. New Business Ethiopia

  • Kredete, a fintech for African immigrants, raised $22M in Series A led by AfricInvest, with Partech and Polymorphic Capital, to expand credit-building and stablecoin-backed services in Canada, UK, Europe, and 41 African countries. The funding, totaling $24.75M with prior rounds, supports 700,000 monthly users and $500M in remittances, enhancing diaspora financial inclusion. Business Post Nigeria

  • Saudi fintech Wadaie raised an undisclosed seed round led by VentureSouq, with Graphene Ventures, RZM Investments, and others, to enhance its Shariah-compliant deposit platform. The funds will improve compliance, cybersecurity, and regional expansion, supporting financial inclusion in MEA. Wamda

  • Lendo secured a $50M Murabaha facility from Jadwa Investment to scale SME lending, aligning with Vision 2030’s 20% SME financing goal. Building on a $690M J.P. Morgan deal, it has facilitated SAR 3.5B in transactions, boosting Saudi’s private credit landscape. Wamda

  • Riyadh-based Spare raised $5M in pre-Series A led by anb Seed Fund, with Vision Ventures and others, to scale its open banking platform across GCC. Serving 35+ financial institutions, it taps a $10.16B MENA market by 2030, enhancing business connectivity. FF News

  • South African Float raised R46M ($2.6M) co-led by Invenfin and Saad Investment to expand its card-linked installment platform, serving 2,000+ stores. The funding highlights Africa’s fintech growth and investor confidence in addressing credit gaps. Tech in Africa

  • Saudi HALA raised $157M in Series B led by The Rise Fund and Sanabil, with QED and MEVP, to enhance SME/freelancer services and align with Vision 2030. This landmark round underscores surging VC interest in MEA fintech. Wamda

  • Tamara, Saudi’s first fintech unicorn, secured a $2.4B facility from Goldman Sachs, Citi, and Apollo to expand credit/payment products and regional presence. Following a $340M Series C, it supports Vision 2030’s financial innovation goals. Wamda

  • Alinma Bank invested in UAE’s Qashio to develop corporate spend management solutions, joining its $19.8M funding from Rocketship VC and others. The partnership aligns with Vision 2030, enhancing SME financial tools in Saudi Arabia. Wamda

  • Merak Capital invested $1.2M in Saudi’s Bynow to scale BNPL solutions for SMEs, improving cash flow and automation. The funding supports Vision 2030’s digital transformation goals for B2B payments. Wamda

  • Saudi fintech Bwatech raised $16M led by Sharaka Financial to expand its digital bank guarantees and open banking platform. Operating in SAMA’s sandbox, it strengthens KSA’s financial infrastructure. Wamda

  • MoneyMoon, a Saudi P2P lending platform, raised $2.9M in pre-Series A led by Core Vision to scale Sharia-compliant financing. The funds will enhance tech and financial inclusion, supporting Vision 2030. Wamda

  • Moove, an Uber-backed African fintech, seeks $300M+ at a $2B valuation to expand autonomous vehicle financing. This positions it as one of Africa’s largest startups, driving mobility-fintech growth. Bloomberg

  • Saudi fintech Hala secured a major funding round, alongside regional VC activity like Property Finder’s $500M raise, signaling robust investor interest in MEA tech. The funding supports its SME-focused growth in a vibrant startup ecosystem. The Morning Context

  • UK/UAE-based Tern Group raised $24M in Series A to scale its ESG-focused fintech platform, with UAE ties via strategic partnerships. The funding supports global expansion but has limited MEA tech/VC specifics, aligning broadly with emerging market fintech trends. MSN

AI & SaaS Innovations

  • Wamda Capital joined a $12M round for Clarity (ex-Anecdote), led by Prosus with STV Al Fund and OpenAI/Google angels, to expand AI customer experience teams in NY, London, and Riyadh. The platform’s 5.4x revenue growth highlights MEA’s rising AI ecosystem. Wamda

  • Egyptian Intella raised $12.5M in Series A led by Prosus, with 500 Global and Wa’ed Ventures, to advance Arabic speech AI (95.73% accuracy) for finance/telecom. Totaling $16.9M, the funding positions Egypt as MENA’s Arabic tech hub, expanding to KSA. Tech in Africa

  • Moroccan Jobzyn raised an undisclosed round from Janngo Capital to scale AI recruitment tech serving Deloitte/PwC across Africa. The funding enhances job matching and accessibility in emerging markets. Wamda

  • Oman’s Rihal raised $7.5M in the first close of a $15M Series A led by ITHCA Group to scale data/AI SaaS for government/logistics in GCC and globally. It supports digital transformation in emerging markets. Wamda

  • Sindbad Tech, a Saudi startup, raised $48M in a seed round led by Alkhabeer Capital to develop AI-driven logistics solutions. The funding will accelerate tech development and regional expansion, aligning with Vision 2030’s innovation goals. Wamda

Cybersecurity

  • Moroccan Nucleon Security raised €3M ($3.5M) in seed funding led by NewFund Capital, with Orange Ventures and others, to scale its AI Zero Trust platform across Africa. Serving 100+ clients, it addresses rising cyber threats and fosters MEA’s cybersecurity ecosystem. TechCabal

Digital Assets & Blockchain

  • Keyrock acquired Turing Capital for $27.8M to launch an asset/wealth management division, focusing on tokenized investments for MEA institutions. It bridges traditional finance and Web3, tapping a trillion-dollar tokenized economy by 2030. Ventureburn

  • Saudi Oumla raised $2.4M in seed funding led by Core Vision, with Avalanche, to build digital asset infrastructure for custody/tokenization in KSA. The funds will support regulatory partnerships and regional expansion. Wamda

  • Openverse raised $8M in Series B led by Bright Capital to enhance cross-chain interoperability and RWA tokenization, serving 1M+ users. It boosts digital commerce in emerging markets with multi-chain payments. Ventureburn

  • Mavryk Network raised $10M led by MultiBank Group to tokenize $10B+ in UAE real estate assets via Layer-1 blockchain. With Fireblocks custody, it taps a $4T global market, enhancing liquidity in emerging markets. Ventureburn

  • Aya HQ, based in Ghana/Kenya, plans a $10M raise, including a $5M microfund, to support 35+ Web3 startups and build an Accra economic zone. Backed by Lisk, it fosters Africa’s global Web3 talent pipeline. Tech Economy NG

Edtech & HRtech

  • Egyptian edtech Farid expanded to Saudi Arabia with a Riyadh office and a $1.3M Amad Association deal to train 500 graduates/4,000 kids. Post-$250K pre-seed, it plans a Q4 seed round, aligning with Vision 2030. Wamda

  • Turkish edtech Evolve raised $1M to scale its AI-supported education platform, focusing on personalized learning for emerging markets. While not directly MEA-focused, it aligns with tech-driven education trends in developing regions. N24

Healthtech

  • Saudi’s Value Makers Studio invested in Arab Therapy (mental health platform) and Ballurh (F&B SaaS with SAR 1B+ transactions) via VMS Bridge 2025. The investments support Vision 2030’s quality-of-life goals in mental health and digitization. Wamda

  • Truelli develops smart menstrual pads for health monitoring, backed by KBW Ventures, 500 Global, and others, aligning with global women’s health initiatives like the Gates Foundation’s $2.5B push. It addresses healthcare gaps in MEA with innovative tech. Eastern Progress

Consumer & Lifestyle Startups

  • UAE’s Armoir raised $500K in seed funding led by Salica Oryx Fund, with Plus VC and Chalhoub Group, to launch luxury luggage and expand in MENA/Europe. It targets the $75B premium luggage market by 2031. Wamda

  • UAE’s Amaani raised $3M in seed funding led by Peak XV’s Surge to launch AÏZA, an Arab beauty brand blending regional ingredients with global standards. It plans to scale across MENA and globally, targeting emerging markets. Wamda

  • Saudi’s Zahib raised an undisclosed seed round to modernize the laundry sector with integrated logistics solutions. The funding will enhance technology and service quality, addressing inefficiencies in KSA. Wamda

SME Financing & Expansions

  • Saudi’s LDUN raised $4.8M in seed funding led by Sadu Capital, with Suhail and Nomu, to expand SAMA-licensed factoring solutions for SMEs. It enhances cash flow and digital transformation in KSA/region. Wamda

Youth Innovation Initiatives

  • The Arab Youth Center’s 4th Young Arab Pioneers Initiative supports 40 innovators from 13 countries, offering training and investor networking in tracks like entrepreneurship and tech. Startups like Appro.ae (fintech) and AI for accessibility highlight MEA’s innovation push. Zawya

Cross-Regional Investments

  • Saudi’s Ajlan Global joined a $300M Zhonglian fund as LP to invest in AI, new energy, and semiconductors in China, amid $9B+ MEA inflows to Chinese tech in 2024. It supports cross-regional VC collaboration in emerging markets. 36Kr

Other

  • Finary raised $29.37M in Series B led by PayPal Ventures, with Y Combinator and others, to scale its AI-driven financial platform across Europe. It simplifies money management for emerging markets, aligning with MEA’s fintech innovation trends. Ventureburn

 

🌍 Global Tech & VC Pulse

AI has officially moved from speculative development to strategic implementation. We're witnessing the formation of a "Western AI Stack" backed by massive capital commitments, while venture funding consolidates around AI infrastructure plays.

🏗️ Infrastructure Wars Heat Up

NVIDIA's Game-Changing Hardware Leap

·       Rubin CPX GPU: Purpose-built for massive-context processing (1M+ tokens)

·       Vera Rubin NVL144 CPX: 8 exaflops of AI performance (7.5x increase over previous gen)

·       ROI Projection: 30x-50x returns ($100M investment → $5B token revenue potential)

·       Timeline: Available end of 2026

US-UK Tech Alliance: $42B Partnership

The £31B ($42B) Tech Prosperity Deal creates a formalized Western tech bloc across AI, semiconductors, and quantum computing:

·       Microsoft: Record $30B UK investment over 4 years

·       Google/Alphabet: $6.8B for UK data centers and DeepMind expansion

·       "Stargate UK": Sovereign AI project with OpenAI deploying 8,000 NVIDIA GPUs

·       Quantum cooperation: Joint development to counter global tech competition (particularly China)

Investment Thesis: Control of specialized hardware + allied infrastructure across AI, semiconductors, and quantum = the new economic moat in next-gen computing.

💰 Capital Concentration Accelerates

Mega-Rounds Define the Market

 

The Barbell VC Market

·       Mega-deals dominate (AI infrastructure/foundation models)

·       Disciplined seed rounds continue for AI-native startups

·       Thinning middle for non-AI companies

Key Stat: Tech giants planning $320B+ in AI/data center investments for 2025

🚀 Platform Disruption Accelerates

OpenAI vs. LinkedIn: The Jobs War

·       Launch: Mid-2026 AI-powered jobs platform

·       Strategy: Skills-based matching via "OpenAI Academy" certification

·       Target: 10M Americans certified by 2030 (Walmart partnership)

·       Conflict: Direct challenge to Microsoft's LinkedIn (Microsoft is OpenAI's key investor)

Amazon's Physical-Digital Bridge

·       Lens Live: Real-time visual search in iOS app

·       Impact: Every physical object becomes an Amazon search query

·       Integration: Deep tie-in with Rufus AI assistant

📱 Consumer AI Goes Ambient

OS-Level Intelligence Race

·       Apple iOS 26: "Liquid Glass" design + expanded Apple Intelligence

·       Samsung One UI 8: Multimodal AI with "Gemini Live" + Knox KEEP security

Consumer Reality Check: Only 11% of smartphone buyers prioritize AI features (vs. battery, storage, price). Winners will make AI invisible while delivering tangible benefits.

⚠️ Industrial Vulnerability Exposed

JLR Cyberattack: £100M+ Losses

·       Impact: 1,000 vehicles/day production halt

·       Ripple Effect: 34,000 direct employees + 250,000 supply chain workers affected

·       Market Opportunity: Massive demand surge for OT security, supply chain visibility, digital twin technologies

📊 Strategic Investment Implications

For VCs: New Diligence Framework Required

Key Questions:

·       Is this real AI or "AI-washing"?

·       What's the proprietary data advantage?

·       How defensible against open-source alternatives?

·       Does it solve an AI-created problem?

Winning Investment Themes

1.      AI Infrastructure: Specialized hardware, data management, security

2.     "Picks & Shovels": Developer tools, OT security, compliance-as-a-service

3.    AI-Adjacent Solutions: Privacy tools, workflow integration, visual search optimization

Risk Factors

·       Thin-wrapper AI apps: High bubble risk

·       Capital concentration: Few "AI Kingmakers" control access to compute/capital

·       Consumer-enterprise disconnect: Industry excitement ≠ user priorities

🎯 Bottom Line for Investors

The New Moat: Access to specialized hardware + allied infrastructure + proprietary data

Investment Strategy: Focus on companies that uniquely leverage new hardware capabilities (like Rubin CPX) or solve problems created by the AI boom (security, privacy, integration).

Timeline: The next 18 months will separate AI leaders from laggards as specialized hardware becomes available and capital requirements intensify.

 

 🎙️Episodes Recap:

 

In this episode of The CTO Show with Mehmet, Angela Thomas shares her extraordinary journey from growing up in East Germany to building award-winning businesses, reinventing her career, and now helping entrepreneurs scale in Dubai.

We dive into the misconceptions about scaling, the role of authenticity, why reinvention is critical, and why Dubai has become a global hub for entrepreneurs.

In this episode of The CTO Show with Mehmet, we dive into the future of management with Jack Skeels , CEO of AgencyAgile and author of Unmanaged. Jack shares why traditional command-and-control structures are outdated, how hidden dysfunctions cripple organizations, and what it takes to unlock true productivity in the age of AI.

 

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📖 From Nowhere to Next

Every week I share startup lessons and stories through The CTO Show Brief. But if you want to go deeper, my book From Nowhere to Next brings together the experiences and insights that shaped my own journey.

Thanks for reading — and for being part of this growing, global-minded network.

 — Mehmet