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Resal Raises $9M in Funding

FinSMEs

Resal, a Jeddah, Saudi Arabia-based provider of an e-gifting platform, raised $9M in funding. Backers included Derayah Ventures Fund, Al-Wafrah AlThanya Investment Company, Venture Souq FinTech Fund, ADDiriyah Asset Management, Nomad Holdings, Bugshan Investment Group, and several family offices, along with other angel investors.

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Fairlyne Raises $3M in Seed Funding

FinSMEs

Fairlyne, a Paris, France-based Resale-as-a-Service platform for the travel industry, raised $3m in seed funding. The round was led by Speedinvest with participation from Evolem, Kima Ventures, FJ Labs and several business angel investors.

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SuperAngel.Fund x Q4 2023 Recap ?

SuperAngel.Fund

This means that early stage companies which raised money did so primarily with backing from their existing investors as opposed to new ones. More often, it is easier for a company to gain additional support from its existing investor base as compared to net new investors. That is the case with follow ons.