International Finance Corporation

The International Finance Corporation (IFC) is a member of The World Bank Group that focuses on fostering sustainable economic growth in developing countries through private sector investment. It provides a range of financial services, including loans, equity investments, quasi-equity products, and advisory services aimed at supporting startups and various stages of company development. IFC invests in sectors such as agribusiness, financial services, health, education, infrastructure, global manufacturing, oil and gas, telecommunications, and tourism, with a particular emphasis on projects that promote food security, digital finance, and affordable healthcare. The organization targets investments ranging from $1 million to $100 million, often seeking minority stakes but may also take a majority position in its portfolio companies. IFC aims to create jobs, generate tax revenues, and enhance corporate governance in emerging markets, thus contributing positively to local communities. Established in 1956 and headquartered in Washington, D.C., IFC operates globally with offices across various regions, focusing its efforts on financing projects that align with its mission of improving lives in developing countries.

Hyung K. Ahn

Principal Investment Officer

Irene Arias

Global Director of Financial Institutions Group and Director of Latin America and the Caribbean

Georgina Baker

Vice President, Latin America and the Caribbean, and Europe and Central Asia

Paulo de Bolle

Global Director

Peter Joseph Cashion

Head of Climate Finance FIG and CIO

Andrea Engel

Senior Country Officer, Principal Country Officer and Principal Country Manager

Rapti Goonesekere

Principal Economist

Christian Grossmann

Director for Climate Change

Mandeep Julka

Associate Investment Officer

Rana Karadsheh

Principal Investment Officer and Country Manager

Kyle Kelhofer

Country Manager for Vietnam

Alzbeta Klein

Global Industries Director and Director of Climate Business

Galina Vsevolodovna Klimenko

Principal Investment Officer of Financial Markets

Toshitake Kurosawa

Director

André Laude

CIO of Climate Finance

Mouayed Makhlouf

Regional Director of Middle East and North Africa

Paolo M. Martelli

Regional Industry Director of Latin America and the Caribbean

Atul Mehta

Senior Director of Telecom, Media and Tech, Venture Investing and Funds

Vivek Pathak

Director of East Asia and Pacific

Mary Porter Peshka

Director of Cross-cutting Advisory Services

Tomasz Telma

Senior Director of Manufacturing, Agri. and Services

Mary Beth Ward

Principal Syndications Officer and Team Leader

Tracy Washington

Principal Investment Officer for Global PE Funds and Regional and Sectoral Lead of SME Ventures Program

Al Murshed, Walid

Principal Country Officer

Past deals in Middle East

Toters

Series B in 2022
Toters provides service that connects customers with retailers, and uses couriers to deliver from any restaurants or shops in your city. Since 2017, their operation has grown exponentially in Lebanon and they have recently launched in Iraq and Saudi Arabia, delivering to thousands of happy customers every month from hundreds of select partner stores. From logistics to technology, design, and support they strive to offer their customers and partners the best experience both online and offline.

Brimore

Series A in 2022
Brimore Holding B.V. owns and operates an online retail and distribution platform. The company offers fast-moving consumer goods (FMCG). It offers detergents, perfumes, skin, canned food, upholstery, skin care, lips, spices, mixes, and beans, men wear, personal care, hair care, eyes, women wear, baby and kids wear, appliances, make up, textiles, home care, food and beverage, and wellness products. The company connects and serves manufacturers and customers. Brimore Holding B.V. was founded in 2017 and is headquartered in Cairo, Egypt.

Maxab

Series A in 2021
Maxab is a business-to-business e-commerce marketplace that links food and grocery retailers with suppliers in Egypt, particularly in underserved areas. Founded in 2018 and headquartered in Cairo, the company utilizes data-driven technologies and advanced supply chain solutions to enhance the food and grocery market. Maxab's platform streamlines access to a diverse range of products, providing retailers with premium service and operational support. Additionally, the company has established a logistics network to facilitate the efficient distribution of goods throughout Egypt, ensuring that the right quantity of food reaches the appropriate locations at the right time.
Commercial International Bank (CIB), founded in 1975 and headquartered in Giza, Egypt, is a prominent financial services provider that caters to both individual and corporate clients. The bank offers a wide range of products, including deposits, savings accounts, loans, and private banking services, as well as e-banking solutions. CIB is particularly well-known for its corporate banking services, which encompass project finance, debt capital markets, structured products, and various financing options, such as working capital and syndicated loans. With strong brand equity, CIB serves over 500 of Egypt's largest corporations and demonstrates significant potential in the growing retail and SME banking sectors. Over its 40 years of operation, the bank has maintained its position as the most profitable commercial bank in Egypt, thanks to its effective management, high operating standards, and commitment to corporate governance.

Maxab

Series A in 2021
Maxab is a business-to-business e-commerce marketplace that links food and grocery retailers with suppliers in Egypt, particularly in underserved areas. Founded in 2018 and headquartered in Cairo, the company utilizes data-driven technologies and advanced supply chain solutions to enhance the food and grocery market. Maxab's platform streamlines access to a diverse range of products, providing retailers with premium service and operational support. Additionally, the company has established a logistics network to facilitate the efficient distribution of goods throughout Egypt, ensuring that the right quantity of food reaches the appropriate locations at the right time.

Federal Bank

Post in 2021
Federal Bank, head quartered in Aluva, Kerala is the largest traditional private sector Bank in India and 4th among all private sector banks in India in terms of footprint. They enjoy the trust and confidence of more than 6 million customers across the world. Their stakeholders trust us for the sound principles of corporate governance and their value of human capital as Their primary source of strength. This has always triggered valuable initiatives at every turning point of their growth journey. Federal Bank shares are widely held and is listed in the Bombay Stock Exchange (BSE) and National Stock Exchange of India (NSE). Their Global Depository Receipts are listed at the London Stock Exchange. They have 1200+ branches and 1400+ ATMs spread across 25 states and Union Territories of the country under 9 zones and 39 regions. their predominant position in Kerala and visible presence in Tamil Nadu, Karnataka, and Maharashtra is notable and they are in the process of widely expanding their presence in Gujarat, Punjab and North Eastern states. They also have their Representative Office in Abu Dhabi, UAE. They are pioneers among banks in India in the area of using technology to leverage its operations and were among the first banks in India to computerize all its branches. Federal Bank offers its customers, a variety of services such as Internet banking, Mobile banking, on-line bill payment, on-line fee collection, online religious offerings, depository services, online e trade services ,Cash Management Services, RTGS / NEFT facility, IMPS etc. as part of its strategy in enhancing the convenience to its customers.

Maxab

Series A in 2021
Maxab is a business-to-business e-commerce marketplace that links food and grocery retailers with suppliers in Egypt, particularly in underserved areas. Founded in 2018 and headquartered in Cairo, the company utilizes data-driven technologies and advanced supply chain solutions to enhance the food and grocery market. Maxab's platform streamlines access to a diverse range of products, providing retailers with premium service and operational support. Additionally, the company has established a logistics network to facilitate the efficient distribution of goods throughout Egypt, ensuring that the right quantity of food reaches the appropriate locations at the right time.

SunBox

Grant in 2021
SunBox operates as a multinational corporation that provides clean energy services.

SeeTree

Series B in 2020
SeeTree Systems Ltd. provides technology solutions for farming. The company provides artificial intelligence based data and intelligence network for trees. It enables farmers to access and analyze health records and productivity of any individual trees. SeeTree Systems Ltd. collects data through multi dimensional sensing imagery utilizing drones and sensors. The company was founded in 2017 and is based in Tel Aviv, Israel.

Figopara

Seed Round in 2020
Figopara is a solution that discounts companies' e-invoices before their due dates with the offers received by financial institutions. It provides secure information to the financial companies that the customer is associated with and wants to reach by providing them with printed invoice information. Figopara was established in 2017 to develop financial technology applications and is headquartered in Istanbul, Turkey.

TruKKer

Series A in 2019
TruKKer is a Digital Freight Network that integrates Demand & Supply for land freight services. The network is built on real-time data analytics that creates reliability, transparency, and utilization based savings for Shippers and thousands of transporters. The network’s rapid growth and scale is creating multiple opportunities through data monetization and consolidated procurement

El Zatona

Pre Seed Round in 2019
Developer of a cloud-based retail-management system designed to automate sales. The company's platform offers stock management, sales, purchase tracking and real-time insights, enabling clients to increase business operations efficiency.

TruKKer

Venture Round in 2019
TruKKer is a Digital Freight Network that integrates Demand & Supply for land freight services. The network is built on real-time data analytics that creates reliability, transparency, and utilization based savings for Shippers and thousands of transporters. The network’s rapid growth and scale is creating multiple opportunities through data monetization and consolidated procurement

Yellow Door Energy

Series A in 2019
Yellow Door Energy invests in and operates distributed solar and energy efficiency assets for commercial and industrial customers in the Middle East and Africa. It finances, designs, builds, operates, and maintains the solar plants. The company was founded in 2015 and is based in Dubai, United Arab Emirates with a location in Amman, Jordan.

Vezeeta

Series C in 2018
Vezeeta is the digital healthcare platform in MEA that connects patients with healthcare providers and health services. Patients are able to search, compare, book and review the best doctors in Egypt, Saudi Arabia, Jordan, and Lebanon. It also provides innovative SaaS solutions to healthcare providers in the region. Vezeeta empowers millions of patients through data and the ability to better access healthcare in the region. With over 200,000 verified reviews, patients are able to search, compare, and book the best doctors in just 1 minute. Doctors also provide Patients with seamless healthcare experiences through our clinic management software.

Apex International Energy

Private Equity Round in 2018
Apex International Energy Management LLC operates as an oil and gas exploration and production company that focuses on Egypt. It engages in asset acquisitions and capital investments in drilling, infrastructure, and production enhancement to deliver long-term profitable growth in production and reserves. The company was incorporated in 2016 and is based in Houston, Texas with an additional office in Cairo, Egypt.

Hayat Holding

Debt Financing in 2018
Its mission is to offer high quality Turkish brand alternatives to the consumers all over the world in the sectors they operate. This goal; their production power, their developing and self-renewing human resources, their customer-focused approach and their belief in sustainability. Their vision to be known, liked and preferred in every corner of the world with their companies and brands in the sectors they operate in.

Foriba

Series B in 2018
Foriba is a provider of accounting solutions for enterprises. The Company offers document processing services such as e-invoice, e-ledger, e-reconciliation, e-audit e-signature, and e-self employed invoices. It also offers digital backup of documents, Vat returns, and e-receipt solutions. Ahmet Bilgen headquartered the company in Maltepe, Istanbul in 1999.

Hellas Direct

Series B in 2018
Hellas Direct is a digital insurance company based in Cyprus that specializes in car insurance. Utilizing advanced technology and artificial intelligence, the company aims to streamline the insurance process and provide competitive pricing to its customers. Hellas Direct is supported by notable investors, including Portag3, the International Finance Corporation, Endeavor Catalyst, and prominent individuals from the finance sector. The company seeks to innovate the insurance industry by prioritizing operational excellence and improving customer experience.

MSPharma

Venture Round in 2017
MS Pharma is a prominent pharmaceutical company focused on the development, production, and distribution of generic and specialty medicines. Operating primarily in the MENA region, it manufactures and markets a wide range of generic medications, including injectables for chronic diseases such as cardiovascular, central nervous system, and respiratory conditions. The company emphasizes the creation of improved therapeutic entities through differentiated technologies, offering modified release formulations and other non-conventional dosage forms. These innovations aim to enhance patient convenience, adherence, efficiency, safety, and sustainability in treatment. MS Pharma positions itself as a trusted partner in healthcare solutions, catering to the diverse needs of its markets.

Network International

Venture Round in 2017
Network International is a prominent provider of payment solutions in the Middle East and Africa, established in 1994. The company specializes in delivering a comprehensive suite of technology-enabled services that cater to merchants and financial institutions, including card processing, ATM management, and merchant acquiring. It is recognized for its innovative approach and offers tailored solutions to meet the diverse needs of its clients. As a principal member of Visa and MasterCard in the UAE, Network International has achieved significant certifications, positioning itself as a leading independent vendor in the region. The company's services extend to consultancy for new card products, ensuring clients receive expert guidance in planning and design. By continually evolving its offerings, Network International aims to enhance payment transaction experiences, making them secure, fast, and efficient for all stakeholders involved.

iyzico

Series C in 2017
iyzico is a Turkish online payment services provider that focuses on delivering a secure payment management platform for businesses of various sizes across different sectors. The company offers several key products, including iyziPos, a secure virtual POS solution that features automated fraud prevention and high authorization-rate bank integrations; iyziBazaar, which facilitates marketplace payment management; iyziLink, allowing payments via links without requiring a shopping site; and Buyer Protection, enhancing the secure shopping experience. Additionally, iyzico's platform supports multiple payment options, including recurring payments, bin control, one-click payments, installment payments, and bank transfers. This comprehensive suite enables e-commerce companies to start accepting payments rapidly, often on the same day as integration, by utilizing a single application.

Flat6labs

Seed Round in 2016
Flat6Labs is a startup accelerator based in Cairo, Egypt, founded in 2011. It focuses on seed stage investments and supports entrepreneurs in the critical early development phases of their ventures. Every four months, Flat6Labs selects a number of startups from Egypt and the MENA region, providing them with seed capital, mentorship, and office space. The accelerator emphasizes real-world entrepreneurial challenges through immersive, interactive educational programs developed in collaboration with the American University in Cairo. Flat6Labs has expanded its presence beyond Egypt, with additional offices in Abu Dhabi, Amman, Beirut, Jeddah, Manama, and Tunis. The organization also participates in early-stage venture capital initiatives, including partnerships with Saudi Venture Capital Company to manage funds targeting various sectors such as information technology, transportation, mobile technology, big data, and virtual reality. In 2012, Flat6Labs became the first African member of the Global Accelerator Network.

Lekela Power

Private Equity Round in 2016
Lekela Power B.V. is a renewable energy generation platform that delivers utility scale wind and solar projects into commercial operation in Africa. The company currently develops, constructs, and operates a portfolio of projects in Egypt, Ghana, South Africa, and Senegal. It provides renewable energy to consumers, such as government, utilities, and large-scale industrial consumers. The company was founded in 2015 and is headquartered in Amsterdam, the Netherlands. Lekela Power B.V. operates as a subsidiary of Mainstream Renewable Power Limited.

EMBonds

Series B in 2015
embonds (Emerging Markets Bond Exchange Ltd) is the world’s first electronic trading platform dedicated to trading emerging market bonds. Based in London and with development team located in Istanbul, embonds has started coverage of publicly traded sovereign and corporate fixed income securities in the London timezone covering both domestic and eurobond debt of the countries in Central and Eastern Europe, Middle East and Africa (CEEMEA). In most markets, embonds is able to offer domestic settlement for domestic instruments. embonds offers a transparent, easy to use and easy to access, multi-functional electronic platform. Their aim is to give asset managers, local primary dealers and global banks involved in emerging markets the tightest spreads possible on their trades by pooling liquidity from all participants. What’s more, as liquidity increases, those spreads are bound to narrow further still.

iyzico

Series B in 2015
iyzico is a Turkish online payment services provider that focuses on delivering a secure payment management platform for businesses of various sizes across different sectors. The company offers several key products, including iyziPos, a secure virtual POS solution that features automated fraud prevention and high authorization-rate bank integrations; iyziBazaar, which facilitates marketplace payment management; iyziLink, allowing payments via links without requiring a shopping site; and Buyer Protection, enhancing the secure shopping experience. Additionally, iyzico's platform supports multiple payment options, including recurring payments, bin control, one-click payments, installment payments, and bank transfers. This comprehensive suite enables e-commerce companies to start accepting payments rapidly, often on the same day as integration, by utilizing a single application.

iyzico

Series B in 2015
iyzico is a Turkish online payment services provider that focuses on delivering a secure payment management platform for businesses of various sizes across different sectors. The company offers several key products, including iyziPos, a secure virtual POS solution that features automated fraud prevention and high authorization-rate bank integrations; iyziBazaar, which facilitates marketplace payment management; iyziLink, allowing payments via links without requiring a shopping site; and Buyer Protection, enhancing the secure shopping experience. Additionally, iyzico's platform supports multiple payment options, including recurring payments, bin control, one-click payments, installment payments, and bank transfers. This comprehensive suite enables e-commerce companies to start accepting payments rapidly, often on the same day as integration, by utilizing a single application.

EMBonds

Series A in 2015
embonds (Emerging Markets Bond Exchange Ltd) is the world’s first electronic trading platform dedicated to trading emerging market bonds. Based in London and with development team located in Istanbul, embonds has started coverage of publicly traded sovereign and corporate fixed income securities in the London timezone covering both domestic and eurobond debt of the countries in Central and Eastern Europe, Middle East and Africa (CEEMEA). In most markets, embonds is able to offer domestic settlement for domestic instruments. embonds offers a transparent, easy to use and easy to access, multi-functional electronic platform. Their aim is to give asset managers, local primary dealers and global banks involved in emerging markets the tightest spreads possible on their trades by pooling liquidity from all participants. What’s more, as liquidity increases, those spreads are bound to narrow further still.

Yandex

Post in 2013
Yandex is a multinational technology company based in Russia, recognized for operating the country's leading search engine and the most visited website. It is one of the largest internet companies in Europe, commanding a significant share of the search market in Russia, where it generated over half of all search traffic as of September 2015. In addition to its core search engine services, Yandex offers a range of internet-related services and operates in several countries, including Ukraine, Kazakhstan, Belarus, and Turkey, contributing to its extensive regional presence.

PSL Limited

Post in 2006
With a production capacity in excess of the 1 million ton mark, they are India’s largest producer/manufacturer of HSAW pipes - the line-pipe industry's preferred pipe.But their leadership in the pipe industry is not confined to the domestic market alone, though the market is huge and still growing - global recognition is reflected in the huge orders already in hand from the US even before the commissioning of their 300,000 MT capacity plant in Missisipi not to mention the USD 45 million order of their pipe mills in Sharjah in the UAE. These facilities are backed by sound technology, state-of-the-art infrastructure, technical collaborations with leading Design & Engineering consultancies of Germany and Italy and most importantly, by a human resources pool that is amongst the best in the industry - ensuring that your project is completed on target, time after time.