MEVP invests around $4,2 million in Gate2Play, Anghami, Laimoon, Shahiya.com Pin-Pay, Wixel Studios and The Luxury Closet

24 Oct, 2012


MEVP (Middle East Venture Partners) one of the leading and active Venture Capital firm in the Arab market has announced that it closed several investment rounds with the following companies at an average ticket price of $ 600,000:

Series A in Jordan based Gate2Play.com
Gate 2 Play is a specialized end-to-end e-payment aggregator, addressing the needs of online & mobile companies looking to enable payment capabilities in the region. G2P focuses on providing comprehensive e-payment solutions and is currently working to provide monetization for all type of internet companies selling physical or virtual goods in the Arab World. Today, G2P is the number one destination for international and local internet companies looking for a plug and play e-payment solution in most Arab countries.

Anghami has recently closed its second round of funding and in turn MEVP’s aggregate investment in Anghami rose to US $1M. In addition, Anghami is expected to soft launch on the third week of October.

Media Group “Media Quest” has executed an investment and media partnership with laimoon.com. This partnership will strengthen Laimoon’s media exposure and is expected to yield synergies for both parties looking to consolidate their online presence.

Shahiya is the #1 leader in user-generated Arab food recipes – website and mobile application – with strong presence across GCC countries. The company curates content uploaded by online and mobile users and publishes them on both its Arabic and English portals and mobile application. The company is backed by seasoned founders and shareholders: Hala Labaki, Daniel Neuwirth, Carole Makhoul and Cesar Gemayel . According to effective measures, Shahiya.com is currently ranked as the #1 food portal website in the Arab World with a loyal Arab audience.

Body & Soul launched its “Shea Line” enriching its product range by adding 14 SKUs. Next in line are products like the Sorbet (16 SKUs) and the Aromatherapy (14 SKUs). Body & Soul’s flagship store is schedule to open in October 2012.

Following a soft launch at all Bank Audi branches, Pin-Pay has recently signed a partnership agreement with BankMed and will soon be offering its mobile payment services in all of BankMed’s branches in Lebanon.

Series A co-investment alongside Berytech Fund in Lebanon based Wixel Studios.

Wixel is a leading independent gaming studio founded by game experts Ziad Feghali, Reine Abbas and Karim Abi Saleh. The Company designs and markets high quality mobile games targeting primarily Arab markets. The Company owns a portfolio of successful casual games designed to appeal to a broad cross section of smart-phones and tablet users within the Arab World and beyond. Wixel has invested in a confirmed team of game designers, developers and artists that is focused on delivering high quality relevant content to the region.

Series A investment in Dubai based The Luxury Closet.
The Luxury Closet is a fast growing online market platform that buys, sells, and consigns luxury bags, mostly pre-owned, at a discounted price maintaining brand and item integrity and the assurance of authenticity. The Luxury Closet is the first of its kind in the GCC region in terms of size, market reach and scalability The Company was founded by Kunal Kapoor, an Indian national with a deep understanding and expertise in the fashion industry.

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