Marhaba folks! 🌟

Today we will discuss,

• 🚊 HH Sheikh Mohammed Aims for 100% Punctuality as Dubai Metro Turns 15 🎯

• 🛍️ Majid Al Futtaim & Tabby Unveil SHAREPay Integration: A Game-Changer for Shopping! 💳✨

• 🚀 FlapKap Raises $34M to Boost SME Financing Across MENA! 🌍💰

Let’s dive in!

🚊 His Highness Sheikh Mohammed Aims for 100% Punctuality as Dubai Metro Turns 15 🎯

📰 What is it about?

• His Highness Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, set a goal for every Dubai Metro train to arrive on time as the service celebrates its 15th anniversary.

• Dubai Metro, launched on September 9, 2009, has transported 2.4 billion passengers with a punctuality rate of 99.7%.

• His Highness Sheikh Mohammed praised the Metro's role in promoting Dubai's culture of "quality and punctuality" and creating a world-class living and working environment.

💡 Why it matters?

• Raising the punctuality target to 100% underscores Dubai’s commitment to excellence and innovation in public transportation.

• From 20,000 daily passengers at launch to over 730,000 today, the Metro showcases Dubai’s rapid development and ability to deliver "mega projects".

• The Metro is key to Dubai's strategy to reduce traffic congestion, improve air quality, and encourage the use of public transport.

🔜 What’s next?

• Dubai plans to more than double the number of Metro and tram stations by 2040, increasing from 55 stations today to 96 stations covering 140 km.

• Focus on further improving service punctuality, quality, and integrating with other modes of public transport.

• These efforts align with Sheikh Mohammed’s vision for a modern, efficient, and sustainable urban environment in Dubai.

📈 Markets

🛍️ Majid Al Futtaim & Tabby Unveil SHAREPay Integration: A Game-Changer for Shopping! 💳✨

📰 What is it about?

• Majid Al Futtaim and Tabby have launched a new feature called SHAREPay, integrating Tabby’s BNPL (Buy Now, Pay Later) services into Majid Al Futtaim’s SHARE app.

• SHAREPay enhances shopping flexibility by allowing users to make purchases and split payments into four interest-free installments.

• This integration expands the BNPL service across Majid Al Futtaim’s malls and retail outlets in the UAE, making it the largest BNPL provider in the region.

💡 Why it matters?

• Offers more financial flexibility for luxury and home shopping, with no interest or hidden fees.

• In the first nine months, Majid Al Futtaim processed AED 253 million in BNPL transactions, far exceeding the initial Year 1 budget of AED 100 million.

• Increased Average Order Value (AOV) by 25-50% across various brands, with notable gains like 70% at Carrefour and 30% at Crate and Barrel.

• A boost in purchase frequency and brand loyalty, particularly among younger consumers, with 60% of Tabby shoppers being women and an AOV of AED 867.

🔜 What’s next?

• The partnership aims to further transform the shopping experience in the UAE and potentially beyond.

• `Focus on integrating Tabby's BNPL features with Majid Al Futtaim’s SHARE loyalty programme to offer seamless payment options.

• Ongoing improvements to enhance user satisfaction and retention, reinforcing Majid Al Futtaim’s commitment to innovation in retail.

Quote of the day
“The secret of getting ahead is getting started.” - Mark Twain.

🚀 FlapKap Raises $34M to Boost SME Financing Across MENA! 🌍💰

📰 What is it about?

• FlapKap, an Egypt-born and Abu Dhabi-based fintech platform, raised $34 million in a pre-Series A funding round, bringing its total funding to $37.6 million.

• Funding round led by BECO Capital with new investments from Pact VC, and follow-on contributions from A15, Nclude, QED Investors, and debt financing from Channel Capital.

• Funds will be used to:

  • Expand SME financing services across the Middle East, North Africa (MENA), and Gulf Cooperation Council (GCC) regions.

  • Optimize technology infrastructure to launch trade finance products tailored for B2B businesses.

💡 Why it matters?

• Provides revenue-based and embedded financing solutions to help SMEs, particularly in eCommerce, retail, and restaurant sectors, scale inventory and digital ads.

• Many SMEs lack access to traditional loans or venture capital. FlapKap automates the lending process, making financing more accessible.

• Utilizes data from unconventional sources (eCommerce sites, social media) and AI models to streamline loan approvals and reduce costs.

• Targets the estimated $180 billion SME financing gap in the MENA region, where SMEs make up to 90% of businesses but struggle with financial support.

🔜 What’s next?

• Continued growth in the UAE and Egypt, with further expansion into the rest of the GCC.

• Launch of new trade finance products for B2B businesses.

• Building a larger network of SMEs, aiming to double financing originations and disbursements in the coming quarters.

• Leveraging technology to speed up loan approvals to under 48 hours, providing SMEs with fast access to capital.

In other news…

1. Bawan to fully acquire UAE-based Petronash Global in $175 million deal.

2. Saudi Arabia launches inaugural International AI Olympiad.

3. Abu Dhabi’s Mubadala to take full control of Turkish grocery delivery startup Getir.

4. Dubai-born shop-and-win business Idealz opens shop in Mexico.

Meet our Dreamer!

From farm fields to tech deals - meet Zoho’s founder Sridhar Vembu. Watch his story here.

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