#84 This week In MENA's Startup Scene!
Dive into the latest Startup News, Trends & Opportunities shaping the MENA region
Welcome back to MENA Startup Digest!
We are bringing you the latest round-up of startup news, updates, and opportunities in the MENA region.
Fundraising Roulette
HALA (KSA/Fintech) secured $157M in a landmark Series B to expand its digital payments and SME banking solutions
Lendo (KSA/Fintech) entered a $50M facility agreement with Jadwa Investment’s GCC Private Credit Fund to expand SME financing capacity
LDUN (KSA/Fintech) secured $4.8M in a seed round led by Sadu Capital to scale its SAMA-licensed trade finance platform for MSMEs
Wadaie (KSA/Fintech) closed a seed round led by VentureSouq to scale its Sharia-compliant savings and investment platform
Spare (KSA/Fintech) closed a $5M pre-Series A led by anb Seed Fund to scale its open banking APIs across the GCC
Zahib (KSA/Laundry Services) closed a seed round to modernize laundry operations across the Kingdom
Hesstak (KSA/Proptech) secured a strategic investment from Prime Estates, signaling confidence from a leading Saudi real estate family in its fractional ownership model for income-generating properties
Oumla (KSA/Fintech) raised $2.4M in a seed round led by Core Vision with Avalanche to build digital asset infrastructure and tokenization platforms for corporates, banks, and government bodies
Sindbad.Tech (KSA/B2B Tech) raised SAR 18M ($4.8M) in a seed round led by Alkhabeer Capital to scale its procurement automation and supply chain management platform
Moneymoon (KSA/Fintech) secured SAR 11M ($2.9M) in a pre-Series A led by Core Vision Investment to scale its SAMA-regulated peer-to-peer micro-financing platform for short-term, Shariah-compliant loans
Bwatech (KSA/Fintech) raised $16M (SAR 60M) led by Sharaka Financial to expand its integrated corporate finance platform offering digital bank guarantees, multi-bank management, and open banking services
Bynow (KSA/Fintech) secured $1.2M from Merak Capital to scale its B2B Buy Now Pay Later platform and develop automation tools for accounts receivable and payable processes
Qashio (UAE/KSA Fintech) received a strategic investment from Alinma Bank to expand its corporate spend management platform and deliver advanced digital financial solutions
Value Makers Studio (KSA) announced strategic investments in Arab Therapy and Ballurh, backing regional founders in digital mental health and restaurant technology to drive innovation across key sectors
Amaani (UAE/Beauty) raised $3M in a seed round led by Peak XV’s Surge to launch AÏZA, an Arab beauty brand blending regional heritage with global cosmetic innovation and already surpassing $2M in early annualized revenue
Oncount (UAE/Accounting Tech) raised $1.5M in a seed round to launch its AI-powered accounting and tax compliance platform for SMBs across MENA
Armoir (UAE/Travel) secured $500K in a seed round led by Salica Oryx Fund, to scale its design-driven premium luggage brand inspired by French wardrobe trunks
Nucleon Security (Morocco/Cybersecurity) raised €3M led by NewFund Capital, to scale its agentic AI-powered Zero Trust platform across Europe and Africa
Done (Morocco/Super App) raised $2.1M from local investors and business angels to build Morocco’s first super app, integrating food delivery, e-commerce, payments, and BNPL services into one platform
LRNOVA (Egypt/EdTech) secured funding from EdVentures, the CVC arm of Nahdet Misr Group, to accelerate regional expansion of its AI-powered platform for interactive digital learning content
Clarity (Global/AI) raised $12M with participation from Saudi and UAE VCs, including STV, Sukna Ventures, Oraseya Capital, Phaze Ventures, and Wamda Capital
Main Headlines
UAE Government launched The Emirates: The Startup Capital of the World campaign, aiming to train 10,000 Emirati entrepreneurs, create 30,000 jobs by 2030, and unite 50+ incubators and accelerators under a national entrepreneurship platform
BlueFive Capital (UAE) launched a $1B Asia-focused fund backed by Middle Eastern family offices to target aviation, mining, and transport infrastructure
PIF (KSA) finalized a $1.99B acquisition of a 54 percent majority stake in MBC Group
Duaya (Egypt) acquired pharmacy SaaS provider EXMGO in a six-figure deal, relaunching it as Duaya Go to digitize pharmacy operations and expand its healthcare e-commerce solutions across Egypt and the GCC
SILQFi (KSA) acquired OXO to launch Omni, an embedded finance platform integrating POS, payments, procurement, and instant credit for SMEs
ANAVA Fund of Funds (Tunisia) committed $4M to Rasmal Innovation Fund I, attracting international capital to Tunisian startups and backing Aqua Development, a biotech aquaculture venture
QIA invested $54M in Japanese semiconductor firm Tekscend ahead of its IPO, securing exposure to critical chipmaking components
Nadrah Trading Co. (KSA) invested in US defense tech firm UNION Technologies as part of its $51.3M seed round
UAE and Morocco co-launched the Future of Investment and Trade (FIT) Partnership with 12 other nations to champion open and fair trade, strengthen supply chains, and boost cross-border investment
MSMEDA announced plans to establish permanent African markets for Egyptian SMEs to expand exports
MGX (UAE) joined Silver Lake in acquiring a majority stake in Intel’s spun-out Altera business
Saudi’s Ministry of Investment and Fasanara Capital signed an MoU to boost SME fintech lending, committing over SAR 3B to enable $8B in cumulative SME financing
Kuwait announced plans to regulate the delivery sector under New Kuwait 2035, while expanding digital government services through the Sahel app and biometric systems that have already processed 30M+ transactions
Al Rawaj Foundation (Morocco) secured a €10M loan from the EBRD under the Youth in Business program to finance youth-led SMEs
Algeria launched a National Tech Hub through its sovereign wealth fund, FNI, and four ICT partners to modernize finance, foster startups, and position the country as a regional digital powerhouse
Iraq signed an agreement with Nokia to build its first national data centers in Baghdad, strengthening data sovereignty, e-government services, and the foundation of its digital economy
Oman launched 15 new government platforms and signed six strategic agreements at COMEX 2025 to accelerate Vision 2040 digital goals
Ecosystem Updates
Startup Grind Doha highlighted AI innovation in its All-Star Pitch Battle, crowning Be My Sense as winner, with PitchPro.me second, paintit.ai third, and Meta Souq earning Most Creative Pitch
Fintech Saudi launched the Financial Innovation Lab with Riyadh Bank’s Jeel and SAB’s Xperiment to provide a testing environment for fintech solutions and help founders scale regionally
1957 Ventures × Lean Node (KSA) partnered to launch a Fintech and AI Foundry offering programs, direct funding, and AI tools for founders
E3.Ventures × Groq partnered to give AI startups access to high-performance processors and expert support aligned with Vision 2030, accelerating compliant, scalable solutions
AstroLabs × Al Rajhi Bank (KSA) deepened collaboration to streamline market entry by coordinating bank touchpoints and clarifying milestones for global clients entering KSA
Trusity × ENOC (UAE) launched a nationwide initiative to scout, upskill, and incubate Emirati student ventures, funneling the top 10 ideas into Trusity’s TruPreneurs program and TruNext incubator with investor pitches
Berytech × Zaka AI (Lebanon) hosted the Clyntech Hackathon, bringing together 25 innovators in nine teams to co-create AI-powered cleantech solutions, with three winning teams earning cash prizes and fast-tracks to the accelerator program
Warba Bank launched the sixth Rowad program with DIFC Innovation Hub, an eight-week AI and fintech talent track for GCC students
Leancubator × Algeria FinLab partnered to accelerate fintech and insurtech through the Algeria Startup Challenge under UAR patronage, fostering sector digitalization
Scale Up 2025 awarded soft loans and technical grants to top Syrian startups after a competitive cohort from 527 applicants, with ongoing Aga Khan Foundation mentorship
Women in Tech Futuremakers awarded $75K to three women-led Bahraini startups after an eight-week incubation with mentorship and pitch training
Hub71 launched a Startup Immersion Program in Hong Kong to fast-track later-stage startups into Abu Dhabi
UAE Delegation (UAE) will join 4,000 professionals at the Moscow Startup Summit on Oct 1 to 2 to tap BRICS and SCO capital with AI awards assessed using Sberbank GigaChat
Flow Accelerator × SPARK will convene the Green Forward Conference in Palestine to build BSO networks and scale green and circular economy solutions under an EU-funded program
Young Arab Pioneers concluded its fourth edition in Abu Dhabi, bringing 40 innovators from 13 countries for business model training, storytelling practice, and field visits to Athar Plus and G42
Ministry of Digital Economy and Entrepreneurship launched the Jahiz program in Jordan to ready MVP and scaling startups with training, mentorship, networking, and grants up to $10,000
Bank Albilad concluded a FinTech hackathon in Riyadh selecting 28 finalist projects from 180-plus student ideas with support from SAMA, Fintech Saudi, and Monsha’at
NeuroNexus Hackathon awarded top teams in HealthTech and GreenTech in Egypt with a 60,000 EGP prize pool run by ITIDA and EME Innovation Labs
Startups Highlights
Talabat (Qatar/Commerce) resumed operations after a one-week suspension, following compliance with consumer protection regulations, payment of QAR 1.14M in fines, and corrective measures, including a new call center
Tamara (KSA/Fintech) entered talks to secure a landmark $1.4B+ debt facility from Goldman Sachs, Citi, Apollo, and others, potentially scaling to $2.4B
Holo (UAE/Proptech) launched an AED 500K property giveaway, offering homebuyers extra incentives as Dubai’s real estate transactions hit AED 431B in H1 2025
Jisr (KSA/HR Tech & Fintech) introduced Jisr Spend, Saudi Arabia’s first locally developed expense management platform, integrating HR and finance data with VAT and ZATCA compliance to automate workflows, cut fraud risk, and save finance teams hours weekly
Foodics × Lean Technologies (KSA/F&B & Fintech) partnered to embed open banking into its platform, unifying financial dashboards and enabling data-driven credit access for restaurants and retailers, advancing Saudi Arabia’s fintech ecosystem
inDrive (Global/Mobility) launched ride-hailing in Riyadh, its second Saudi city, bringing a fare-negotiation Realtime Deals model and lower service fees to intensify competition in the Kingdom’s transport sector
Farid (Egypt/Edtech) expanded to Saudi Arabia with a $1.3M partnership with Amad Association, establishing a Riyadh office to train 500 local graduates as certified coaches and deliver character-building programs to 4,000+ children
Digital Zone (Iraq/E-commerce) entered the Saudi market, marking one of the first major regional expansions by an Iraqi startup.
Valu × noon (Egypt/Fintech) launched Egypt’s first licensed in-app BNPL service under the FRA’s new FinTech License. Noon users can now self-onboard digitally with eKYC, receive instant credit limits, and complete purchases without leaving the app
Kamel Pay (UAE/Fintech) received in-principle approval from the UAE Central Bank to offer payment services
MNT-Halan (Egypt/Fintech) expanded into the GCC to serve underserved and low-income consumers
Ceer (KSA/E-mobility) unveiled a new brand identity ahead of its global EV debut, featuring the world’s first bilingual Arabic-English automotive logotype and a 32-light design signature
Techy Bytes
Abu Dhabi launched an AI-powered MRI technique to accelerate multiple sclerosis diagnosis, developed by NYUAD, Yas Clinic, and ADSCC
UAE’s Tajmeel launched SmileVerse, an AI and robotics-powered dental hub in Abu Dhabi offering precision care, same-day restorations, and digital smile design
Saudi Arabia accelerated its cashless economy, launching Google Pay and signing a deal to integrate Alipay+ by 2026 through the Saudi Central Bank’s Mada network
Oman rolled out a large-scale AI education initiative, deploying 4,000 Microsoft 365 Copilot licenses across public schools to modernize classrooms and align with Oman Vision 2040
Bahrain launched a national cyber awareness program, training 75 specialists across 55 organizations under the NCSC’s “Lamea” initiative to strengthen digital resilience
ADNOC deployed an AI smart port system, cutting vessel turnaround time by 90 percent across key petroleum ports and projecting $950K in annual savings by 2028
Bahrain Polytechnic partnered with SICO to launch a cybersecurity research lab, strengthening higher education and developing a skilled national workforce
Tunisian engineers developed an AI-powered medical device for remote diagnostics, already undergoing trials in Canada and the UK after winning international awards
CONCAT Tech celebrated the graduation of 63 interns in web development in Lebanon, empowering refugee and female developers through hands-on projects and training
Nvidia announced a $5B stake in Intel, forging a landmark partnership to co-develop next-generation AI chips for data centers and PCs
Meta unveiled new Ray-Ban smart glasses , featuring a built-in display and a neural wristband controller that translates subtle hand gestures into commands
OpenAI introduced stricter safety measures for minors, adding parental controls and restrictions on sensitive topics to protect ChatGPT users under 18
That’s a wrap for this week!
We hope this week's digest of the latest funding, insights, and ecosystem news helps you stay ahead in the fast-paced MENA region.
Stay tuned for more insights next week