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Congratulations to portfolio company Qlub on the announcement of their most recent fundraise. The new round was co-led by Cherry Ventures and Point Nine with participation from other global venture capital firms, including STV, Raed Ventures, Heartcore, Shorooq Partners, FinTech Collective, and several angel investors. The startup plans to use the proceeds to fuel growth as well as develop and launch new services for restaurants and customers who already use Qlub, it added.
According to a MAGNiTT report, Fintech in the Middle East and North Africa (MENA) region reported a rise in both deals and funding in 2022, holding on to its position as an industry of choice for investors in the region, accumulating an unprecedented $925 million in funding across 131 deals.
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