Türkiye’s leading digital asset platform Paribu announced that it has acquired CoinMENA, the largest local crypto exchange in the Middle East and North Africa (MENA), in a transaction valuing the company at up to USD 240 million.
The deal represents Türkiye’s largest fintech transaction to date and the country’s first cross-border acquisition of a digital asset platform. It also underscores the ongoing consolidation of the global digital asset industry, as established regional players seek greater scale, regulatory strength, and broader market reach.
With this acquisition, Paribu will expand its operations from its home market in Türkiye into a region with high crypto adoption. Through CoinMENA, the local entity licensed by Dubai’s Virtual Assets Regulatory Authority (VARA) and the Central Bank of Bahrain, Paribu will access two active digital asset licenses. This expanded regulatory footprint positions Paribu as one of the region’s few regulated multi-jurisdiction operators and supports its strategy of compliance-driven growth into new markets.
Paribu is among Türkiye’s leading companies in the digital asset and fintech sectors, pursuing a growth roadmap focused on regulatory compliance, product innovation, and geographic expansion. In 2024, Paribu introduced Paribu Custody, Türkiye’s first and only digital asset custody provider powered by its proprietary multi-layered security technology, ColdShield®. In October 2025, the Capital Markets Board (CMB) authorized Paribu to establish a brokerage firm, marking its entry into the capital markets. The acquisition of CoinMENA further strengthens Paribu’s role as a regional fintech leader.
Founded in 2020 by Talal Tabbaa and Dina Sam’an, CoinMENA is a licensed crypto asset service provider operating under Bahrain and Dubai regulatory authorities. CoinMENA has raised nearly 20 million USD in total funding from investors, including BECO, Arab Bank Switzerland, Circle, and Bunat Ventures. The platform now serves more than 1.5 million users across 45 countries, offering access to over 50 cryptocurrencies and supporting multiple local currencies across the MENA region.
Yasin Oral, Founder and CEO of Paribu, said: “This transaction is a turning point not only for Paribu but also for the digital asset and broader finance ecosystem in Türkiye and the MENA region. With this acquisition, we have expanded our licensed operations to a wider geography, becoming a regulated player in one of the world’s most crypto-adoptive markets. We are proud to be leading Türkiye’s largest fintech acquisition and its first international digital asset platform deal.”
“CoinMENA, the leading local crypto exchange in the MENA region, is an ideal partner for our regional expansion,” Oral continued. “With this step, we are opening a new chapter in Paribu’s growth journey, extending our presence into the MENA region and contributing to the ongoing consolidation of the global digital asset industry, building on the strong foundation we have established in Türkiye.”
Talal Tabbaa and Dina Sam’an, Co-Founders of CoinMENA, said in a joint statement: “The MENA digital asset market continues to grow and mature, and joining forces with Paribu will help accelerate that momentum. By combining CoinMENA’s regional expertise with Paribu’s technology, we are poised to develop a comprehensive suite of digital asset products for users across Türkiye and the MENA region. This acquisition is the most transformative milestone in CoinMENA’s history. Paribu’s investment validates the strength of what we have built, and together we aim to set new standards for access and innovation in the region’s digital asset space.”
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Algerian travel-tech startup Völz has successfully raised USD 5 million in a new funding round, marking a significant achievement for both the startup and Algeria’s burgeoning tech ecosystem. The investment comes as Völz expands its footprint in the travel sector, addressing unique challenges within Algeria’s travel market, such as local currency restrictions and the limited availability of online payment methods.
The funding round was led by prominent investors Tell Group and Groupe Industriel Babahoum Algérie (GIBA), with the Algerian Startup Fund (ASF) also playing a critical role. This marks ASF’s first successful exit, further validating the growth potential of Algerian tech startups and attracting attention from investors both locally and internationally.
Founded in 2022 by Mohamed Abdelhadi Mezi and Hacene Seghier, Völz is a travel technology startup designed to tackle long-standing issues in the Algerian travel market. The company has developed a platform that enables Algerians to book international flights while paying in Algerian dinar—a significant innovation in a market where foreign currency payments have traditionally posed a challenge for many consumers.
One of Völz’s key selling points is its ability to allow Algerian users to book international flights using local currency. The challenges around foreign currency payments have long been a bottleneck for Algerians wanting to travel internationally, especially as the country faces strict currency controls that limit access to foreign currency. By enabling local payments in dinar, Völz has effectively removed a major barrier to international travel.
The platform also introduces cash-on-delivery and offline-friendly payment options, targeting Algerians who may not have access to bank accounts or are skeptical about online payments. This move positions Völz as an inclusive and accessible option for a broader segment of the population, particularly those who have been underserved by traditional travel agencies or online platforms.
With the recent funding, Völz plans to automate its operations and reduce booking errors. This move is expected to streamline processes and enhance the user experience, making travel planning more efficient for Algerians. The company also plans to expand its technical team, enabling them to accelerate the development of new features and improve its platform’s capabilities.
In addition, the funding will allow Völz to scale its operations and further its mission of making international travel more accessible for Algerian users. By simplifying the booking process, Völz aims to offer a seamless and user-friendly experience, ensuring that even those with limited technical expertise can easily navigate the system.
A notable development for Völz is its partnership with Turkish Airlines. This collaboration provides Völz with access to corporate rates and entry into Turkish Airlines’ corporate partner ecosystem, which includes significant travel-related benefits for businesses. The partnership with Turkish Airlines is expected to offer Völz competitive pricing, which can further help the platform attract more customers.
Moreover, the partnership’s focus on the B2B travel market opens up new opportunities for Völz to expand its revenue streams by catering to businesses looking for affordable travel options for employees. This is seen as a strategic move to improve profit margins, especially as the platform scales its services to accommodate a broader customer base.
The funds secured by Völz will also support efforts to expand beyond consumer-facing services and into business and corporate sectors, where the company can generate additional revenue streams through business travel and corporate partnerships. This will not only allow Völz to cater to a more diverse audience but also position it as a key player in reshaping Algeria’s travel landscape.
The company’s expansion into automation and error reduction reflects its commitment to delivering high-quality service to users while maintaining cost efficiency. By leveraging cutting-edge technology, Völz is positioning itself as a forward-thinking leader in travel tech innovation, both in Algeria and beyond.
This funding milestone is not only a success for Völz but also a sign of the growing potential within Algeria’s tech ecosystem. With the Algerian Startup Fund’s involvement, the funding serves as a testament to the support for innovative startups in the country, with Völz emerging as a trailblazer in the travel sector.
Looking ahead, Völz is poised to grow its market share and contribute to the digitization of Algeria’s travel industry, with plans for continuous expansion and technological upgrades. As the country’s aviation sector continues to evolve, Völz is ready to meet the rising demand for international travel bookings and support Algeria’s broader economic growth through increased connectivity and accessibility.
The post Völz Lands Five Million Dollars to Redefine Travel Tech in Algeria and Simplify International Flight Bookings appeared first on Travel And Tour World.
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Black Swan, a Mauritius-based FinTech startup, has been named the winner of the MEST Africa Challenge (MAC) 2025, following a high-energy Grand Finale at Innovation City, Cape Town on November 26, 2025.
Led by the Meltwater Entrepreneurial School of Technology (MEST Africa) and powered by Absa Group, the MEST Africa Challenge is one of the continent’s leading Pan-African pitch competitions, providing a platform for early-stage startups to secure funding, mentorship, and global visibility.
The 2025 edition turned its focus to FinTech; spotlighting startups and embedded financial solutions driving inclusion, smarter payments, and digital transformation across Africa’s economies.
Co-founded by Derick Kazimoto, Black Swan is on a mission to “Make Africa Bankable.” Across Africa, millions of consumers and MSMEs remain invisible to formal lenders because their data is fragmented, informal, and difficult to verify; a gap that locks out capable borrowers and limits credit growth. Black Swan tackles this challenge by turning fragmented data into instant credit intelligence that enables precise affordability assessments and inclusive lending at scale. Its platform helps financial institutions see real risk, unlocking new pathways for growth and economic mobility across the continent.
“Africa’s financial system cannot see the true creditworthiness of millions of consumers and Micro, Small, and Medium-sized Enterprises (MSMEs) because their data is fragmented, informal, and invisible to traditional lenders,” said Derick Kazimoto, Co-founder and CEO of Black Swan. “This invisibility locks out capable borrowers, limits credit growth, and slows economic mobility. Our mission is to make Africa bankable.” Kazimoto added, “We believe Africa is shifting from informal, collateral-heavy lending to data-driven credit. A transformation that’s changing how banks and FinTechs trust, lend, and grow.”
MAC 2025 attracted hundreds of applications from eight of Absa priority markets, including Ghana, Kenya, Uganda, Zambia, Botswana, Mozambique, Seychelles, and Mauritius. After a rigorous selection process, ten startups advanced to the Cape Town finale, where they pitched to a panel of judges comprising investors, Absa executives, and industry leaders.
The Grand Finale was a celebration of Africa’s ingenuity; where founders showcased real, scalable solutions tackling challenges across payments, credit, insurance, and trade finance.
“Congratulations to Black Swan and all ten finalists of this year’s MEST Africa Challenge,” said Ashwin Ravichandran, Portfolio Advisor at MEST Africa. “This year showed a clear shift toward building for scale; founders are prioritizing compliance, interoperability, and cross-border readiness from day one. FinTech is now powering real sectors like agriculture, energy, and trade, and that’s where lasting impact will come from. At MEST, we’re inspired to see entrepreneurs building solutions that are deeply local yet globally adaptable. It reflects a new maturity in African innovation; grounded in customer realities, and ambitious enough to scale across borders.”
As the 2025 winner, Black Swan will receive US $50,000 in equity investment, entry into the MEST Portfolio, and the opportunity to pilot commercial solutions with Absa business units across Africa; support that will help the company scale its technology and expand its impact across the continent.
“This year’s Challenge brought forward solutions that reflect how people and businesses want to manage their financial lives in a simpler, more accessible, and more integrated way. Black Swan secured the winning position because their solution meets a clear need and shows potential to complement the services we provide across our markets. The Challenge has revealed just how much opportunity exists to enhance customer experiences through thoughtful innovation,” says Tawanda Chatikobo, Head of Digital for Absa Regional Operations (ARO), Retail and Business Banking.
Now in its seventh year, the MEST Africa Challenge has become a launchpad for early-stage founders across the continent; offering visibility, mentorship, and access to partners who can help them grow. The Challenge continues to serve as a bridge between emerging startups and established industry players, uniting the agility of innovation with the scale of corporate collaboration.
“Congratulations to Blackswan on reaching this milestone. What resonated with us was the technical discipline behind their approach: the architecture, the clarity of the build, and the way they’re thinking about scaling responsibly. For us, the Challenge is about expanding Absa’s view of the technology landscape and identifying where new capabilities or partnerships might emerge.” Tamu Dutuma, Head of Strategy and Transformation for Technology at Absa Regional Operations (ARO).
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