Regional startups light up venture landscape

Regional startups light up venture landscape

RIYADH: Despite a global decline in available venture funds, the Middle East and North Africa region remains resilient, with early-stage startups attracting significant investments.

UAE-based fintech firm Zest Equity has raised $3.8 million in a seed funding round spearheaded by Middle East Venture Partners that saw participation from the Dubai Future District Fund and DASH Ventures.

Founded in 2021 by entrepreneurs Rawan Baddour and Zuhair Shamma, Zest Equity offers a platform that facilitates founders and venture capitalists to sell their secondary shares online.

“Zest was born with a vision to encourage better communication, transparency and process standardization within private market transactions. At its core, what Zest is building is a convenient and comprehensive tool designed to cut the costs and complexities involved in traditional private market transactions,” Baddour said.  

“Our platform digitizes the transaction process making it easier for existing stakeholders, founders, investors, and employees of private companies to transact and benefit from liquidity, in a pre-approved and transparent manner,” he said.

The recent infusion of capital is earmarked to bolster Zest Equity’s expansion strategies. The startup is setting its sights on penetrating emerging markets, including regions in North Africa, South Asia, Southeast Asia, and Turkey.

“We are proud to have supported the team at Zest