MENA funding surges on flurry of startup rounds
MENA startup funding increased by 228% in January, reaching $563 million across 42 startups, with fintech and UAE-based companies leading the way.Summary
Investment in Middle East and North Africa (MENA) startups saw a significant surge in January, with a total of $563 million raised across 42 companies – a 228% increase month-on-month, though a 35% decrease year-on-year. The UAE dominated funding, attracting $426.3 million, driven by substantial investments in Mal and Property Finder. Saudi Arabia and Egypt followed, securing $56 million and $22.1 million respectively. Fintech companies received the largest share of funding at $319.7 million, followed by property tech at $189 million.
Early-stage companies were the primary recipients of funding, raising $66 million across 31 deals, while later-stage deals totaled only $11 million. Business-to-consumer (B2C) startups accounted for the majority of capital deployed, with $470.8 million raised. Funding distribution remained uneven by founder gender, with male-founded startups receiving the vast majority of investment.
Several notable funding rounds occurred during the month, including Hydrovest’s $275k raise, Shorooq’s launch of a $200 million late-stage growth fund, HAQQ Legal AI’s $3 million raise, Kitopi securing $50 million, and Qureos closing a $5 million seed round. These investments demonstrate continued investor interest in the MENA startup ecosystem despite global economic headwinds.
(Source：Arab News Pk)
