GroFin Iraq

22/06/2025

𝐄𝐧𝐭𝐫𝐞𝐩𝐫𝐞𝐧𝐞𝐮𝐫𝐬 & 𝐒𝐌𝐄𝐬: 𝐓𝐡𝐞 𝐏𝐨𝐰𝐞𝐫 𝐨𝐟 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐜 𝐁𝐚𝐧𝐤𝐢𝐧𝐠 𝐑𝐞𝐥𝐚𝐭𝐢𝐨𝐧𝐬𝐡𝐢𝐩𝐬
In our latest session, we took a deep dive into how startups and small businesses can move beyond simply opening a bank account — and start building meaningful, strategic partnerships with banks that fuel long-term growth.

From selecting the right business accounts to leveraging credit, corporate cards, POS systems, and digital payment solutions — the right banking tools are essential for financial stability and scalability.

Whether you're just starting out or looking to scale, your relationship with your bank should be a partnership — one that helps you manage operations smoothly and unlock future opportunities.

Whether you're launching your first venture or scaling an existing business, your bank should be more than a service provider — it should be a trusted partner in your journey.

15/01/2025

After the launch in Baghdad, we’re also excited to kick off Phase II of the Orange Corners Innovation Fund (OCIF) in Erbil! 🚀🎉

With a fresh €2.2 million investment for 2025–2030, OCIF is doubling down on empowering startups, fostering innovation and strengthening the entrepreneurial ecosystem in the Kurdistan Region of Iraq. 💡🤝

Here’s what’s in it for YOU, young entrepreneurs:
✨ Funding opportunities: tailored financial support for startups at every stage.
✨ Capacity building: world-class training, mentorship and tools to level up your business.
✨ Networking & market access: a gateway to connect with experts, investors and partners.

🙌 Big thanks to our partners at GroFin Iraq for making this possible. Together, we’re unlocking funding that will help local innovators drive jobs, economic growth, and impactful change in KRI.

03/12/2024

Exciting News for the Entrepreneurial Ecosystem!

We are thrilled to announce that GroFin has been selected as one of the winners of the Orange Corners Innovation Fund (OCIF) Subsidy Round 3, representing the Kurdistan Region of Iraq!

This achievement underscores our unwavering commitment to empowering young entrepreneurs and transforming their bold ideas into impactful, real-world solutions.

From 2025 to 2030, the fund will provide access to finance and business support for startups in Kurdistan Region, Iraq ensuring they have the tools and resources needed to grow and succeed. This initiative aims to foster innovation, create jobs, and drive sustainable economic growth in the region.

At GroFin, we believe in the power of innovation to create meaningful change. By enabling access to finance and fostering opportunities, we aim to help entrepreneurs thrive and contribute to a brighter, more sustainable future. Here’s to unlocking the potential of young innovators and building a thriving entrepreneurial ecosystem!

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28/11/2024

The wait is over! After a thorough review of all proposals, we’re excited to unveil the winning proposals of the Orange Corners Innovation Fund (OCIF) subsidy round 3! These access to finance champions are ready to unlock money, money, money to support young entrepreneurs to turn big ideas into reality. 🌟

🌍 Bangladesh: SAJIDA Foundation and YY Ventures 💵
🌍 Mali: Zira Capital, ForthInvestment (Burkinabé) and Fair & Sustainable Consulting 💡
🌍 South Sudan: Foundation for Youth Initiative 🌞
🌍 Sudan: 249Startups and UCB 💼
🌍 Tunisia: Lab'ess 🏺
🌍 Burundi: Maison de l’entrepreneur (Adisco) ✨
🌍 Iraq proper: Iraq Venture Partners 🤝
🌍 Kurdistan Region of Iraq: GroFin Iraq 💵

Congratulations to all winners, and thank you to both our old and new partners for leading the charge in funding the next generation of entrepreneurs. Let’s make those ideas pay off! 🚀💡

08/09/2024

GroFin is proud to sponsor the participation of Orange Corners Erbil tech alumni at HITEX 2024, Iraq’s premier annual technology and electronics exhibition. The event showcased the exceptional work of three innovative startups supported by Orange Corners Innovation Fund, demonstrating the impact of technology across various industries:

Kevir Entertainment: A Kurdistan-based game development studio blending Mesopotamian heritage into video games and visual solutions. Their prestigious clients include Columbia University, Invader Studios, and USAID.

Exchange programmes: A platform streamlining global education opportunities for students and professionals in Iraq and Kurdistan, helping over 4,500 individuals pursue higher education and international experiences since 2017.

wedonet: An online marketplace connecting freelancers with local and international businesses, offering services such as graphic design, video production, and programming.

The event attracted notable attendees, including the Prime Minister of the Kurdistan Region and representatives from the Dutch Consulate- Acting Consul General Mr. Jort Posthumus and Economic Officer Mr. Nali Yousif, who expressed strong interest in the showcased startups.

17/07/2024

Lanay Natural Products: A Journey of Resilience and Innovation

In Erbil, Iraq, Lanay Natural Products is setting new standards in the beauty industry. Founded by the trailblazing Kurdish entrepreneur Amez Abdullah, this youth-owned and female-led startup offers a wide range of natural cosmetics crafted from pure, renewable resources. Amez's unwavering dedication and innovative spirit shine through, overcoming challenges and driving Lanay towards a bright future.

Supported by GroFin and Orange Corners Erbil, Lanay is now producing 50,000 bottles of shampoo monthly, ensuring a steady supply of high-quality products.

To read the full story, follow the link here:

In the heart of Erbil, Iraq, a dynamic startup is making waves. Lanay Natural Products, a youth-owned enterprise, stands as a testament to the entrepreneurial spirit of its founder, Amez Abdullah. Amez is a Kurdish entrepreneur whose proactive approach to business has led her to establish one of the...

16/10/2023

28/08/2023

Ashur Babil, a prominent company aimed at revolutionizing the way restaurants, hotels, and cafes operate in Iraq through an all-in-one purchasing platform emerged as a beacon of efficiency and has achieved impressive success after receiving investment support from GroFin.

The timely investment played a pivotal role in allowing the company to cater its growing demands and enhance its storage capacities.

GroFin through NII aims to provide financial support to established businesses in Northern Iraq, helping them sustain employment opportunities and livelihoods.

To read the full story, follow the link here:
https://nii.grofin.com/empowering-iraqi-hospitality-ahsur-babil-sumers-journey-from-challenges-to-innovation/

Entrepreneurs Ammar Jamal and Manaf Mohamed established Ahsur Babil Sumer- a platform that aims to create an all-in-one purchasing platform for restaurants, hotels, and cafes in Iraq. Their primary objective is to establish an integrated purchasing platform catering to the needs of restaurants, hote...

21/08/2023

GroFin hosts OCIF Investment Facilitation workshop for Orange Corners Erbil startup entrepreneurs.

The GroFin Iraq team recently hosted Orange Corner startup entrepreneurs at a workshop to highlight OCIF’s investment processes that GroFin offers.

The audience had a chance to learn more about OCIF’s Track II and GroFin’s loan processes and the type of financing it can provide under the program.

Attendees also had the opportunity to interact with the team during a Q&A session.

Stay tuned for more updates on further implementation of OCIF!

11/06/2023

La Dolce Vita, a restaurant in Erbil, Iraq faced its biggest business challenge during the COVID period. Lockdown measures imposed forced the business to close at the time.

Despite that, the business was given a lifeline when it received financing through GroFin's NII COVID-19 SME Support Programme supported by USAID Iraq

The financing allowed La Dolce Vita to cover salaries, rent, and the cost of sales to reopen. “I received this loan at a very critical stage because most likely, I would have had to close my business. This loan brought back my business to life” Says Shadi, Owner of the business.

To read the full story, follow the link here:

Shadi lived in Europe for over a decade. But when she decided to open her restaurant, she knew she had to return home to northern Iraq. “ISIS destroyed Kurdistan’s economy and increased the unemployment rate. That gave me the incentive to go back and to challenge myself, as a woman, to establish...