News

Capifly Finishes Successful $1M Pre-Seed Funding Round

The Jordanian startup has also initiated a $10 million Shariah-compliant, non-dilutive capital facility.

Published

3 years ago

October 4, 2023

Nour Nasir

Capifly

Jordan-based Capifly has announced a successful $1 million pre-seed funding round. In addition, the tech startup is also preparing to launch a $10 million non-dilutive capital facility to coincide with its recent expansion into Saudi Arabia.

Capifly unlocks value in the digital economy by offering a proprietary credit scoring technology across a wide range of sectors, including SaaS, gaming, enterprise software, and internet-based virtual goods. The company is rapidly becoming a leader in providing non-dilutive capital — a style of funding that doesn’t require giving up equity or ownership.

Capifly’s CEO and co-founder, Dunya Bashiti, said, “Our vision positions Capifly at the forefront of the internet’s GDP growth. Our unique technology isn’t just for our use; we’re gearing up to underwrite debt for other financial institutions, solidifying Capifly’s key role in the digital era”.

Funders — including Oasis500, BLDR Ventures, Ahli Fintech, Joa Capital, and various angel investors from Jordan and the KSA — have backed Capifly’s growth and ongoing MENA expansion. According to Ahmed Jaradat, Capifly’s CTO and co-founder, the investors’ belief in Capifly’s vision and technological strengths has been invaluable. “The journey is just beginning, and their continued support propels us forward”.

Also Read: A Guide To Digital Payment Methods In The Middle East

Capifly’s ambition doesn’t stop with Middle Eastern expansion. The company’s long-term strategy includes growth across pivotal emerging markets for Islamic financing, with a particular focus on Southeast Asia, where Capifly has already gained a foothold through using Malaysian registration.

The MENA virtual goods market is currently valued at over $15 billion and is estimated to grow by another $10 billion before 2025. The addition of non-dilutive capital from players like Capifly means the market could soon grow at an even greater pace than is currently forecast.

News

Syria Just Got Its First Super App Featuring Built-In Digital Payments

Built by UAE-based Syrian founders with the Ministry of Tourism’s backing, My Syria lands as visitor numbers more than double.

Published

5 days ago

August 1, 2026

Nour Nasir

syria just got its first super app featuring built-in digital payments

For most of the past decade, paying for anything in Syria with an international card was effectively impossible. Sanctions, a collapsed banking sector, and years of isolation left the country running on cash. That is what makes the launch of My Syria — the country’s first super app — more than a routine product announcement.

Developed by 121 Living, a company founded by four UAE-based Syrian entrepreneurs — Rami Kaiem, Feras Kaiem, Waseem Qudmani, and Kinan Madi — the app launched in Damascus on July 30 under the patronage of Minister of Tourism Mazen Al-Salhani. It bundles hotels, restaurants, transport, attractions, food delivery, and other lifestyle services into a single platform, currently offering eight services with plans to expand to more than 40 verified tourism and hospitality providers across the country.

Although the app already sounds enticing, the headline feature is its built-in payments. My Syria is the first platform in Syria to support cross-border digital payments through Apple Pay, Google Pay, Visa, Mastercard, and American Express — familiar tools for international visitors, and a route into the digital economy for local businesses that have long operated outside it.

my syria super app launch event

The launch rides on a sharp rebound for the troubled country. Syria’s tourism sector recorded 3.52 million visitor arrivals in the first half of 2026, a 111 percent increase over the 1.67 million during the same period in 2025 — a mix of returning expatriates, regional visitors, and international tourists.

Also Read: This UAE Platform Wants To Replace Fashion Photo Shoots With AI

The Ministry of Tourism, which supported and supervised the app’s development, frames the launch as proof of concept for a wider strategy. “Digital transformation is one of the Ministry’s strategic priorities because it enables us to build a more competitive, connected and investment-ready tourism sector,” Al-Salhani said, inviting technology companies “globally, regionally and locally” to explore opportunities across the wider economy.

For 121 Living, this is phase one, with additional services and expanded geographic coverage planned. Whether a super app can flourish in a market still rebuilding its infrastructure is an open question, but for the first time in years, a visitor to Damascus can pay for dinner with their phone.