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STC Ventures


 UAE and Saudi investors acquired $2.4 million stake in financial website compareit4me

stc-ventures.jpgSaudi venture capital firm STC Ventures and a consortium of UAE investors acquired a $2.4 million stake in financial website compareit4me.

The funds will be used to help fund its expansion plans including its recently launched insurance business in the UAE (which since its launch in March, have already sold close to $2 million in policies). Other investors include Dubai-based Wamda Capital and Dubai Silicon Oasis Authority.

STC Ventures is listed in the Middle East Investors Directory with the code SIN1303.

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 UAE and Saudi investors acquired $3 million stake in financial website compareit4me

stc-ventures.jpgSaudi venture capital firm STC Ventures and a consortium of UAE investors acquired stake in financial website compareit4me for $3 million.

Currently in seven countries, the websites help users find and compare financial products including personal loans, credit cards and bank accounts. The company is saying it is generates more than 45,000 finance applications per month. Other investors include Dubai-based Wamda Capital and Dubai Silicon Oasis Authority. (The company had raised an initial round of angel funding back in March 2014 from Dubai angel investor Jonathan Hall from Mulverhill Associates).

STC Ventures is listed in the Middle East Investors Directory with the code SIN1303.

More details follows:

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 UAE and Saudi venture capital firms invested $1.3 million in GlamBox

stc-mbc-ventures2.jpgSTC Ventures and MBC Ventures, two venture capital firms based in Saudi and UAE, invested $1.3 million in Beauty e-commerce website GlamBox.

GlamBox offers customers a box of trial-size beauty products every month and is launched in 2012. STC Ventures, backed by Saudi Telecom, is managed by European firm Iris Capital and has invested in Careem, ikoo, Gengo and Acadox so far. MBC Ventures is backed by MBC media group and is an investor in Aranim Games, SuperMama and Falafel Games. GlamBox is using the new investment to expand its operations into Saudi Arabia and other markets.

STC Ventures and MBC Ventures are listed in the Middle East Investors Directory with the code SIN1303 and SIN1309 respectively.



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