• $135M Capital Raise, Comprised of Private Placement and In-Kind Contributions, Aims at Increasing iMENA’s Shareholding in Existing Businesses
• Company completes restructuring into a Saudi company, iMENA Holding
• Transformation part of evolution into regional digital powerhouse.

RIYADH, Saudi Arabia, April 27, 2025 /PRNewswire/ — iMENA Group (“iMENA”), a regional leader in digital platforms in the MENA region, has raised $135 million from Sanabil Investments, a wholly owned company by the Public Investment Fund (PIF), FJ Labs, a global venture capital firm known for backing category-leading marketplace and network-effect platforms, and Saygin Yalcin, the founder and CEO of SellAnyCar, and a number of other leading Saudi investors.

The capital raise is compromised of a private placement and in-kind contributions and is the first tranche of a pre-IPO funding round. The new funding round will be used to increase iMENA’s shareholding in its three high-performing businesses: OpenSooq, SellAnyCar, and Jeeny; to drive vertical and geographic expansion; and to improve synergies across its platforms.

iMENA confirmed that it has now restructured into a Saudi Closed Joint Stock Company (CJSC) under the name of iMENA Holding. This transformation marks a major milestone in the company’s evolution into a regional digital powerhouse, ahead of a potential public listing. Furthermore Saygin Yalcin will also join iMENA’s Board of Directors and management committee to help drive strategic direction for the company.

Nasir Alsharif, Chairman of iMENA Holding said: “This transaction marks an important inflection point for iMENA in its journey to IPO-readiness by taking advantage of the great opportunities provided by the Kingdom’s Vision (2030) and in cooperation with the largest investment entities. We are shaping the future of the region’s digital economy as a platform of internet marketplaces driving innovation at pace and at scale. The high growth and profitability of our businesses, in sectors and markets within which we have high conviction, provides material value creation opportunities and an exciting pathway for us to accelerate forward.“ 

A spokesperson at Sanabil Investments added: “We are excited to invest in iMENA Holding, a digital platform with proven scalability and profitability. Leveraging our own experience in internet marketplaces, we understand their unique strategy and are committed to bringing our expertise to support their growth and future IPO aspirations on the Saudi Exchange.“

Acting as financial advisor to iMENA Holding on the private placement, Hossam AlBasrawi, CEO of Al Rajhi Capital commented “Al Rajhi Capital is proud to support iMENA’s transformation and potential IPO journey. The group’s integrated model and strategic vision make it a standout in the region’s digital landscape“.

Closing of the capital raise remains subject to standard closing conditions and the approval of the authorities in Saudi Arabia.

iMENA Holding’s new Board of Directors will comprise the following regional leaders and sector veterans:

• Nasir Alsharif, Chairman of iMENA, Board Member at AWJ Holding Company and Executive Chairman of Sackville Capital
• Khaldoon Tabaza, Co-founder & Managing Director of iMENA
• Adey Salamin, Co-founder of iMENA and CEO of OpenSooq
• Saygin Yalcin, Founder & CEO of SellAnyCar
• Mazin AlDawood, CEO of Osool & Bakheet Investment
• Usman Sikandar, Head of Investment Banking at Al Rajhi Capital
• Marco Somalvico, Vice President M&A of E&

Sanabil Investments will also appoint a member to the Board of Directors of iMENA Holding in due course.

iMENA’s businesses, OpenSooq, SellAnyCar, and Jeeny, are regional leaders in horizontal and vertical marketplaces across the largest sectors in the region, including real estate, automotive, and mobility, with operations in Saudi Arabia, UAE, Jordan, Oman, Kuwait, and the broader Middle East region. iMENA’s businesses are profitable and growing rapidly, with an average annual growth rate exceeding 55%. Almost 40% of the aggregate revenues of iMENA’s businesses come from Saudi Arabia, with another 40% from the UAE, making them iMENA’s two core strategic markets. iMENA’s businesses aim to serve as a compelling proxy for the digital economy in the Middle East and North Africa region, giving investors direct exposure to the region’s fastest-growing online sectors.

About iMENA Holding:

iMENA was founded in 2012, and has evolved into a regional internet champion, building and scaling high-growth internet businesses across the Middle East and North Africa region. The company was co-founded by Nasir Alsharif, Khaldoon Tabaza, and Adey Salamin,  joined as part of this restructuring by Saygin Yalcin, plan to leverage their expertise in technology and investment to continue building and operating digital marketplaces. Over the years, iMENA has launched, acquired, scaled, and successfully exited from a number of successful regional platforms, thereby becoming a strategic consolidator in the digital economy.

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• Nasir Alsharif, iMENA’s Chairman, is an experienced investor and builder of investment businesses across venture capital, technology and broader private markets, with current roles including Board Member at AWJ Holding Company and Executive Chairman of Sackville Capital.
• Khaldoon Tabaza, Managing Director of iMENA Holding and Chairman of Opensooq, is a pioneer in the region’s technology and venture capital ecosystem with more than 30 years of experience in building and investing in digital ventures across MENA, including founding the first venture-backed online business in the MENA region more than 25 years ago.
• Adey Salamin is a marketplace expert and the CEO of OpenSooq, known for scaling the platform into one of the region’s most visited websites and mobile applications. Adey has over 20 years of experience as a founder, operator, investor, and advisor of growth businesses.
• Saygin Yalcin is a serial entrepreneur and Founder & CEO of SellAnyCar, one of the most prominent digital automotive brands in the Middle East. Previously, he was Founder and CEO of Sukar.com and Vice President of Souq.com following a merger forming the Middle East’s largest E-commerce group that was later acquired by Amazon.

For more information on OpenSooq, please visit: www.opensooq.com

For more information on SellAnyCar, please visit: www.sellanycar.com

For more information on Jeeny, please visit: www.jeeny.me

Contact:

• info@imena.com

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BEIJING, April 26, 2025 /PRNewswire/ — CGTN published an article on China’s latest leadership meeting on the economic situation and work. Exploring the country’s economic policy tools, the article highlights the strong resilience and potential of the Chinese economy. It also takes a look at the meeting’s stress on enhanced efforts to accelerate the implementation of more proactive and effective macro policies, as well as boosting services consumption to strengthen the overall role of consumption in driving economic growth.

China’s economy delivered a strong start in the first quarter of the year, demonstrating steady performance and resilience.

The country’s GDP grew 5.4 percent year on year to 31.8758 trillion yuan (about $4.42 trillion) in Q1 2025, ranking among the highest of the world’s major economies and positioning the country to better weather global uncertainties.

During a meeting held by the Political Bureau of the Communist Party of China Central Committee on Friday, the Chinese leadership analyzed and studied the current economic situation and economic work.

Noting that the country has seen its economy improve this year, with public confidence continuously boosted and solid progress made in high-quality development, the meeting called for efforts to accelerate the implementation of more proactive and effective macro policies and boost service consumption to strengthen the role of consumption in driving economic growth.

More proactive, effective macro policies

Besides the GDP, China has seen other economic indicators exceeding market expectations in the first quarter. For example, fixed-asset investment went up 4.2 percent year on year, with investment in infrastructure construction rising 5.8 percent and manufacturing investment increasing 9.1 percent.

Thanks to policy support, local-level responsiveness and the rapid buildup of innovation-driven momentum, the country’s economy showcases strong resilience and potential.

China has made thorough policy preparations to address external changes, as a series of targeted macro policies have already taken effect, and more incremental policies will be introduced as needed to mitigate external shocks.

Friday’s meeting called for efforts to make full use of a more proactive fiscal policy and a moderately loose monetary policy, coordinate domestic economic work and endeavors in the international economic and trade field, unswervingly manage the country’s own affairs well, and keep employment, businesses, markets and expectations stable.

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Luo Zhiheng, chief economist at Yuekai Securities, said efforts should be made to make good use of aggregate and structural policy tools, cut the reserve requirement ratios and interest rates when appropriate, and boost consumption and corporate investment demand.

A multi-pronged approach for struggling enterprises

To aid businesses facing challenges, the meeting urged a multi-pronged approach, including stronger financial support and accelerating integration between domestic and foreign trade development.

Stressing the need to ensure people’s livelihood, it said that for enterprises that suffered relatively bigger impacts from tariffs, the proportion of unemployment insurance funds returned to enterprises to keep payrolls stable will be increased.

Amid recent U.S. tariff hikes, China’s foreign trade enterprises are actively responding with innovative products, seizing orders and expanding markets.

The country has also taken swift and proactive measures to cope with tariff shocks – reaching out to broader overseas markets while bolstering domestic sales channels with upgraded products.

Bai Wenxi, vice chairman of the China Enterprise Capital Alliance, urged the use of policies such as financial support and consumption coupon subsidies to further support foreign trade enterprises and continue to increase financial subsidies for export-to-domestic enterprises.

Boosting service consumption

Friday’s meeting also highlighted the need to boost service consumption, urging a swift removal of restrictive measures in the consumption sector and proposing to introduce a re-lending facility for service consumption and elderly care.

Service consumption has gradually become a new engine of economic growth and an important area for tapping consumption potential. In the first quarter of 2025, retail sales of consumer goods, a major indicator of the country’s consumption strength, gained 4.6 percent year on year.

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Supported by targeted policies to boost consumption, service-related spending also picked up pace. In the first quarter, retail sales of services grew 5 percent year on year.

In addition, a series of documents to boost service consumption are implemented intensively. For instance, Chinese authorities have unveiled a work plan to boost service consumption in 2025 and released a series of new measures aimed at expanding and upgrading consumption in the domestic services sector as part of broader efforts to stimulate domestic demand.

A report released by a think tank, the China Institute for Reform and Development, forecasts that by 2030, the per capita services consumption of China’s urban and rural residents could exceed 20,000 yuan, accounting for more than half of total consumption.

Services consumption has become a propeller of goods consumption, and a “goods-like services” trend is gaining momentum across the country, said Chi Fulin, head of the think tank.

For more information, please click:
https://news.cgtn.com/news/2025-04-25/Unboxing-China-s-economic-policy-tools-after-latest-leadership-meeting-1CRzRDF2bLi/p.html 

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Welcome to today’s Fintech Pulse, your op-ed–style deep dive into the developments reshaping financial technology. In this edition, we examine five pivotal stories—from strategic regulatory wins and M&A moves to capital infusions empowering underserved markets. Our analysis delivers not just the facts, but the insights driving tomorrow’s fintech landscape.

1. Nubank Secures Mexican Banking License

News Summary
Brazil’s digital banking powerhouse Nubank has cleared a major regulatory hurdle in Mexico, obtaining initial approval from the National Banking and Securities Commission to transition from a payments-focused issuer to a full-service bank. This milestone permits Nubank to broaden its product suite—adding salary deposits, expanded savings offerings, and potentially consumer loans—currently restricted under its existing license. With over 10 million customers in Mexico, the move cements Nubank’s regional footprint.
Source: Reuters

Analysis & Commentary
Nubank’s license approval represents a calculated shift from neo-banking into universal banking, mirroring strategies by other challengers seeking diversified revenue streams. By evolving into a full bank, Nubank can integrate deposit-taking operations with cross-sell opportunities for credit, insurance, and investment products. This vertical integration not only boosts customer lifetime value but also insulates against margin compression in transactional services.

Industry watchers should note that Nubank’s success could spur incumbents to accelerate digital transformation, potentially igniting a wave of partnerships or counter-moves across Latin America’s top banking markets.

2. Fiserv to Acquire Money Money in Brazil

News Summary
U.S. payments stalwart Fiserv has inked a definitive agreement to acquire Brazilian fintech Money Money Serviços Financeiros, aiming to enhance its suite of merchant services for Latin America’s SMB segment. Pending approval by Brazilian regulators, the deal is slated to close in Q2 2025. Through this acquisition, Fiserv gains localized technology, a built-in merchant portfolio, and foothold in one of the fastest-growing digital payments markets.
Source: Electronic Payments International

Analysis & Commentary
The Fiserv–Money Money merger exemplifies established fintech firms’ appetite for inorganic growth in emerging markets. Rather than building solutions from scratch, acquiring a homegrown player accelerates time-to-market, leverages regulatory know-how, and taps existing customer trust.

Strategically, Fiserv’s playbook highlights three key benefits: 1) Market entry at scale, 2) Technology integration with minimal friction, and 3) Enhanced local relationships—factors critical in regions where regulatory complexity and cultural nuances can hamper pure digital entrants. As competition intensifies, incumbents and challengers alike will reassess M&A as the quickest path to growth.

3. LendMN Raises $20 Million to Drive Inclusion in Mongolia

News Summary
LendMN, Mongolia’s leading digital lending platform focused on micro, small, and medium enterprises (MSMEs), has secured a $20 million debt facility from Lendable. The injection will enable LendMN to expand its tech-enabled lending to underserved MSMEs, many of which lack access to traditional credit. Since launch in 2017, LendMN has disbursed over $70 million across 3,800 borrowers, catalyzing economic participation in remote regions.
Source: Financial IT

Analysis & Commentary
Fintech’s greatest promise lies in democratizing finance—and LendMN is a textbook case. By leveraging alternative data, digital onboarding, and remote underwriting, the platform bypasses hurdles that exclude rural entrepreneurs.

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This funding underscores a broader shift: investors are increasingly channeling capital into purpose-driven fintechs that marry profitability with social impact. As LendMN scales, expect partnerships with global development banks and regional regulators to further legitimize digital credit as a cornerstone of economic growth in underserved territories.

4. Clara’s Meteoric Rise in Latin America

News Summary
Mexican fintech Clara has skyrocketed from $102,000 in first-year revenue to $28.3 million by 2023, earning a unicorn valuation north of $1 billion. Operating across Mexico, Brazil, and Colombia, Clara offers corporate spend management, expense tracking, and virtual cards. Despite its rapid growth, Clara faces headwinds: fragmented regulatory regimes, low financial literacy, and significant unbanked populations.
Source: Financial Times

Analysis & Commentary
Clara’s trajectory illustrates the dual-edged nature of rapid scale: while its product-market fit in corporate expense management is undeniable, sustaining growth demands navigating divergent compliance frameworks and investing in customer education.

Opinion: Clara’s next frontier should be embedded finance—integrating expense tools directly into ERP systems and e-commerce platforms. By shifting from a standalone app to an API-first infrastructure, Clara can embed its services where customers already work, accelerating adoption and deepening stickiness.

5. Alternative Payments’ $22 Million Funding Round

News Summary
Embedded fintech specialist Alternative Payments has raised $22 million in a Series B round led by strategic investors. The capital will fuel product development for seamless integration of payments, credit, and loyalty directly into non-financial platforms—retail, gaming, and SaaS ecosystems. This trend of “fintech as infrastructure” is gaining traction as businesses seek new monetization avenues.
Source: Axios Pro

Analysis & Commentary
Embedded fintech is more than a buzzword—it’s the next frontier of customer experience. By migrating financial services under the UI of non-financial apps, companies can drive conversion, loyalty, and ancillary revenue without re-directing users to external portals.

Looking ahead, partnerships between fintechs like Alternative Payments and major platform providers (e.g., e-commerce marketplaces, ERP vendors) will accelerate. The winners will be those who provide turnkey, compliant solutions that integrate seamlessly into existing tech stacks while managing regulatory risk.

6. Emerging Themes & Strategic Imperatives

1. From Challenger to Universal Bank: Nubank’s licensing pivot signals a maturation trend—fintechs evolving into full-service banks to command broader customer value chains.

2. Strategic M&A in Growth Markets: Fiserv’s Money Money acquisition underscores M&A as the fastest path to market in complex, high-growth regions.

3. Capital for Inclusion: LendMN’s latest facility reflects sustained investor appetite for fintechs driving social impact in underserved areas.

4. API-First Expansion: Clara and Alternative Payments exemplify the shift toward embedded finance, offering modular, scalable solutions that plug into enterprise workflows.

5. Regulatory Adaptation: Across markets, success hinges on navigating evolving compliance regimes; firms that can anticipate and adapt will secure durable advantages.

Opinion-Driven Takeaway:
The fintech sector’s trajectory in 2025 is defined by convergence—between digital banking and universal banking, between fintechs and incumbents via M&A, and between finance and everyday digital experiences through embedded APIs. To thrive, companies must balance innovation with regulatory foresight, pursue partnerships that accelerate scale, and root their growth in genuine customer value.

Conclusion

Today’s news paints a vivid picture: digital banking pioneers are leveling up to universal banking, payments giants are buying local champions to accelerate Latin American expansion, capital is flowing to fintechs advancing inclusion in frontier markets, and embedded finance continues its march toward ubiquity. For industry observers and participants alike, these developments affirm that fintech’s next chapter will be written in collaboration—with regulators, incumbents, and global investors—all striving to make finance seamlessly accessible to everyone, everywhere.

Stay tuned for tomorrow’s Fintech Pulse, where we’ll continue to bring you the insights that matter most.

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The post Fintech Pulse: Your Daily Industry Brief – April 25, 2025 | Nubank, Fiserv, LendMN, Clara, Alternative Payments appeared first on News, Events, Advertising Options.