MENA Startups Gain Momentum with Significant Investments

Startups across the Middle East and North Africa (MENA) region are thriving, attracting significant investments, particularly in Saudi Arabia, the UAE, and Egypt.

Here's a clear overview of recent developments and investment highlights in the region:

Saudi Cybersecurity Firm CQR Raises $3 Million

Saudi cybersecurity startup CQR secured $3 million in new funding. Founded by Naser Al-Dossary, CQR uses artificial intelligence (AI) to deliver practical and powerful cybersecurity solutions for industrial companies. Al-Dossary emphasized that traditional cybersecurity methods are insufficient for industrial systems. This funding will help CQR expand operations and enhance AI capabilities.

Al Madinah Angels Supports Saudi Entrepreneurs

A new investor group, Al Madinah Angels, has launched in Saudi Arabia to support local startups. It is part of Al Madinah Ventures, a $10 million fund designed to encourage entrepreneurship. Their goal is to help entrepreneurs transform innovative ideas into successful businesses.

DHL Strengthens Logistics Presence by Acquiring AJEX

Global logistics giant DHL eCommerce has acquired Saudi logistics firm AJEX. AJEX specializes in express delivery and e-commerce logistics across Saudi Arabia, the UAE, Bahrain, and internationally. This acquisition positions DHL to enhance its logistics capabilities and expand regional operations.

UAE-Based Flow48 Raises $69 Million for SME Financing

Flow48, a UAE fintech company, recently raised $69 million in Series A funding. Founded by Idriss Al-Rifai, Flow48 supports small and medium-sized businesses by offering upfront financing based on their future revenue. This new funding will enable Flow48 to grow its presence significantly in Saudi Arabia and the UAE.

Pinewood.AI Acquires UAE Startup Seez for $46.2 Million

UK automotive intelligence company Pinewood.AI has acquired UAE-founded automotive tech firm Seez for $46.2 million. Established by Tarek and Andrew Kabrit, Seez helps car dealerships improve customer experiences and currently operates in 16 international markets.

Omnispay Raises $1.5 Million to Enhance SME Financial Management

UAE-based fintech Omnispay has secured $1.5 million in funding to expand its services. Omnispay provides small businesses with an integrated platform for managing payments, collections, and lending. The company currently serves over 1,600 SMEs.

Disrupt.com Commits $100 Million to AI Tech Ventures

UAE-based venture builder Disrupt.com has pledged $100 million to invest in AI-driven technology startups. Led by the Gadit brothers, Disrupt.com aims to boost innovation in sectors like AI, cybersecurity, Web 3.0, automotive tech, and retail.

UAE Startup Journify Secures $4 Million to Optimize Customer Data

Journify, a UAE-based startup, raised $4 million to help businesses maximize their use of customer data. Founded by Taoufik El-Jamali and Amine Chouki, the funding supports the company's growth and market expansion plans.

Egyptian Fintech Giant Fawry Invests in Local Startups

Egypt's leading fintech platform, Fawry, invested $1.6 million across three local startups, enhancing Egypt’s rapidly growing fintech sector. This aligns with government initiatives aimed at accelerating digital transformation and financial inclusion.

Basata Expands Digital Payments Footprint in Jordan

Egyptian fintech company Basata has increased its stake in Jordan’s payment solutions provider MadfoatCom to 25%, strengthening digital payment infrastructure in Jordan.

Lola Raises $1.3 Million to Expand Food Tech in the GCC

Bahrain-based food tech startup Lola secured $1.3 million to expand its online customizable cake ordering platform further into Saudi Arabia and the GCC region.

Qatar’s Lillia Secures $1.7 Million Grant to Expand Health Tech

Qatar’s health-tech startup Lillia received a $1.7 million grant to expand its AI-driven healthcare platform, helping healthcare providers better manage chronic illnesses. Lillia aims to grow its services across MENA and Southeast Asia.

India’s Cashfree Payments Raises $53 Million to Expand in MENA

Cashfree Payments, an India-based fintech, secured $53 million to strengthen its presence in the MENA region. Already successful in India, Cashfree aims to leverage its expertise to support businesses with digital payment solutions throughout the Middle East.

Interested in growing your business in these thriving sectors? Get in touch—we're here to support your successful expansion in the MENA region.