Kuwait's Mobile Telecommunications Company opens Zain Ventures

(MENAFN) Zain Ventures was inaugurated by Kuwait's Mobile Telecommunications Company (Zain) to explore future investment offers in the venture capital, financial technology (fintech), and the technology world, with a focus on digital innovations in the electronic services and startup ecosystem.

Zain further declared that the Kuwaiti firm reported that the closing of investments and signing of a memorandum of understanding (MoU) with both Pipe and Swvl to support them increase their expansion regionally and globally.

The world’s first trading platform for recurring revenues, Pipe, is a US-based fintech that was given a worth USD2 billion in less than a year since its public inauguration in June 2020.

The ridesharing app is transforming the USD1 trillion global mass transit markets as it entered into a deal with Queen's Gambit Growth Capital for a business combination that is going to result in Swvl being the first USD1.5 billion unicorn in the Middle East to list on Nasdaq.

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