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Capifly Finishes Successful $1M Pre-Seed Funding Round

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

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capifly finishes successful $1 million pre-seed funding round
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.

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Hamad International Wins 2024 Skytrax World Airport Awards

The Qatar airport also won “World’s Best Airport Shopping” for the 2nd time, and “Best Airport in the Middle East” for the 10th year.

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hamad international wins 2024 skytrax world airport awards

Hamad International Airport (DOH) in Doha, Qatar, has once again won the “World’s Best Airport” title at the Skytrax World Airport Awards. The award ceremony, held at the Passenger Terminal Expo 2024 in Frankfurt, Germany, also saw Hamad clinch the accolade of “World’s Best Airport Shopping” for the 2nd time in a row and “Best Airport in the Middle East” for an impressive 10th consecutive year.

Qatar Airways Group Chief Executive Officer, Eng. Badr Mohammed Al-Meer, who played a key role in the airport’s development over the past decade, said: “This is a remarkable achievement for Hamad International Airport, as it celebrates its 10th anniversary of operational excellence, connecting passengers seamlessly from all around the world. It is a testament to the dedication of our team and partners, who have contributed to providing passengers with the finest travel experience”.

hamad international airport doha qatar

Al-Meer emphasized the importance of understanding changing travel trends and the needs of modern air passengers: “At the heart of our growth strategy lies the passengers’ journey, their evolving needs, and our commitment to meeting and exceeding their expectations. We have introduced a diverse range of experiences at the airport, including Souq Al Matar, which brings Qatari hospitality and culture closer to travelers, “Orchard”, the ideal place for relaxation and rejuvenation between flights, and an array of high-end lounges”.

Also Read: Top E-Commerce Websites In The Middle East In 2024

Hamad International Airport saw a massive 31% surge in passenger traffic during 2023, with the transport hub now serving over 45 million passengers annually. The airport is now home to prestigious airlines, including Vistara, Iberia, Xiamen Airlines, Garuda Indonesia, and Japan Airlines, serving 250+ destinations for passenger and cargo flights.

The uptick in traffic is no doubt due to the completion of the first phase of an extensive expansion project. Hamad’s management intends to radically update the airport’s facilities over the coming years in a bid to create the “airport of the future”. The expansion features a unique and calming environment of lush greenery and several contemporary dining and shopping concepts among the already well-equipped leisure facilities.

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