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

LUVED Is A New Curated Preloved Marketplace For The UAE

Sellers keep 100 percent of every sale and AI can build a listing in five seconds — though the app’s smartest tools are still coming.

Published

5 hours ago

June 16, 2026

Joanna Melki

luved is a new curated preloved marketplace for the uae

Secondhand shopping has become mainstream in the UAE, but the experience is still scattered across resale sites, social media and informal group chats. LUVED, a mobile-first marketplace that launched in Dubai this month, is betting it can pull that activity into one place — and that the thing buyers and sellers actually want is not more inventory, but trust.

The app trades in what it calls circular luxury: preloved fashion and lifestyle pieces across men’s, women’s and children’s categories, bought, sold or given away peer to peer. Its main pitch is economics, with sellers keeping 100 percent of every sale under a zero-commission, fast payout model, while buyers are promised vetted pieces at lower prices.

Where LUVED is staking its reputation is verification. Sellers pass a KYC check, and items run through a two-layer authentication system powered by Entrupy that pairs instant AI screening with human expert review for high-value pieces. Authenticity certificates travel with each item, payments sit in escrow, and a buyer-protection package the company calls The Safety Net adds a 48-hour return window and dispute resolution. Door-to-door logistics removes the in-person meetups that make most resale deals awkward.

An in-app assistant called Luvbot — offering selling insights and demand-based recommendations — is soon to be introduced to the platform. Other features include autofill and dynamic pricing that lets users build a listing in as little as five seconds from three photos, plus a swipe-based feed, story-style drops and in-app chat in English and Arabic. Finally, a gifting layer, Luved & Gifted, lets users pass items to others inside the app rather than sell them.

Also Read: Logitech’s New Folding Mouse Is Designed For Work On The Go

“After moving to Dubai, I saw how difficult it was to sell or even give things away,” says founder and CEO Shaima Sibtain. The friction is real, and so is the competition. In resale, trust is won transaction by transaction — and that is the test LUVED has set itself.

The app is live on the App Store now, with Google Play to follow. The company also plans to expand across the region, which will be the real test for a marketplace staking everything on trust.