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Wafeq strengthens presence in GCC and expands to Egypt with new funding

Wafeq raises $3 million seed round to fuel its entry into Egypt, while doubling down on its presence in Saudi Arabia and the UAE. The Dubai headquartered accounting platform’s seed round was led by Raed Ventures and saw participation from Wamda Capital. With its recent funding, Wafeq will continue to innovate and build new product functionalities, while also focusing on customer acquisition and hiring strategically across technical and non-technical roles ....

Saudi Arabia , United Arab Emirates , Nadim Alameddine , Customs Authority , Tax Authority , Egyptian Tax Authority , Raed Ventures , Middle East , Egyptian Tax , Wamda Capital , Accounting Platform ,

Sluggish oil demand this year to slow Gulf economies

Economies in the six-member Gulf Cooperation Council (GCC) will grow this year at half the rate of 2022 as oil revenues take a hit from an expected mild global slowdown, according to the median view from a Reuters poll of economists. ....

Saudi Arabia , United Arab Emirates , Khatija Haque , Gulf Cooperation Council , O Amp G ,