VC React Podcast (E39): Valu IPO Twist, Fixing SME Cashflow, Boring Startups, A Nation of AI Coders!

VC React Podcast:

Every week, we bring you insights and reactions from top VCs, LPs, and Angel Investors, reacting to the latest news on MENA startups, VCs, and investment rounds. Stay tuned for: expert analysis, independent opinions, and maybe some heated conversations!

Hosts:

• Ahmad Takatkah, VCpreneur.
  Sign up to VCpreneur Newsletter on https://www.vcpreneur.com/

• Jamie Lane, FWDstart.
  Sign up to FWDstart Newsletter on https://www.fwdstart.me/

Available on:

• Youtube: VC React Podcast

• Spotify: VC React Podcast

• Apple: VC React Podcast

Guests:

1. Karima El Hakim, Country Director for Egypt and Co-Director Africa @ Plug and Play Tech Center
- LinkedIn Profile: https://www.linkedin.com/in/karimaelhakim/
- VC Firm Website: https://www.plugandplaytechcenter.com/

2. Mo Salah, Founding Partner @ Pitlane Ventures
- LinkedIn Profile: https://www.linkedin.com/in/thisismosalah/
- VC Firm Website: https://pitlane.ventures/

3. Waleed Al Ballaa, Managing Partner @ Sukna Ventures
- LinkedIn Profile: https://www.linkedin.com/in/ballaa/
- VC Firm Website: https://suknaventures.com/

In Today's Episode:

News of the week brought to you by FWDstart:

• Valu prepares EGX debut after securing 25% market share in consumer finance
  Summary: Egypt's buy now pay later (BNPL) fintech Valu has announced its intention to list on the Egyptian Exchange (EGX) following an in-kind dividend distribution by parent company EFG Holding. Valu's shares were officially listed on 21 May 2025, and trading is expected to commence the week of 22 June 2025, pending regulatory approvals. valU, founded in 2017, is a subsidiary of EFG Hermes Holding that provides a buy now pay later (BNPL) service with a presence in Egypt and Saudi Arabia. Valu claims to have recorded EGP 3.1 billion in gross revenue and EGP 423 million in net profit for FY 2024.

• Sukna Fund provides $20 million credit facility to OCTA
  Summary: UAE-based fintech Octa has raised $20 million in a credit facility from Sukna Fund for Direct Financing (SFDF). Co-founded by Jon Santillan, Andrey Korchak, and Nupur Mittal in 2024, OCTA automates financial operations for SMEs — covering invoicing, payments, collections, and now embedded credit. The new funding will accelerate OCTA’s mission to become a foundational layer for contract-to-cash automation in Saudi Arabia and the wider region. In October 2024, OCTA closed a $2.25 million pre-Seed round, co-led by Quona Capital and Sadu Capital, with participation from Sukna Ventures, Plus VC, 500 Global, and other angel investors.

• Egypt’s Octane raises $5.2 million to digitize fleet payments across MENA
  Summary: Egyptian fintech Octane has raised $5.2 million in a funding round led by Shorooq Partners, Algebra Ventures, and SC Holding. The Cairo-based startup, co-founded by Amr Gamal and Ziad Eladawy in 2022, provides a digital platform that consolidates all fleet-related expenses—including fuel, maintenance, and petty cash—into a single closed-loop wallet. The new funding will be used to expand Octane’s regional footprint, acceptance network, and AI capabilities, including fraud detection and route optimisation.

• HUMAIN and Replit Enable a Nation of AI Coders
  Summary: Replit and HUMAIN, the PIF-backed AI company, have partnered to make AI-powered coding tools accessible across Saudi Arabia. The collaboration includes a localised version of Replit hosted on HUMAIN Cloud for sovereign data residency, integration of HUMAIN’s Arabic-first LLM (ALLAM), and co-developed education programs to bring AI coding agents to students, professionals, and government teams.

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