$190M Floods MENA Startups: Are You Missing Out on the Next Big Tech Revolution?

Startups across the Middle East and North Africa (MENA) are experiencing a surge in investment, particularly in technology sectors such as fintech, artificial intelligence (AI), and cybersecurity. This trend highlights a robust investor appetite for technology-driven growth in the region, evidenced by a range of recent funding activities including early-stage seed rounds, growth credit facilities, and multi-million-dollar series investments.

Notably, Saudi Arabia-based fintech company CASHIN has recently raised $16 million in a Series A funding round led by Impact46. Founded in 2021 by Omar Al-Rammah, Abdulkarim Zrik, and Obay Al-Madi, CASHIN offers an AI-enabled platform that integrates various financial and operational activities for fuel station operators. This centralized system facilitates connections among pumps, tanks, payments, and additional services. The startup had previously secured $1.6 million in a seed round in 2021, with backing from Investor Mine, BIM Ventures, and various angel investors. With this new funding, CASHIN plans to expand fuel station networks across Saudi Arabia, enhance its AI and analytics capabilities, and improve integrations with regulators, suppliers, vehicle operators, and banking institutions.

Meanwhile, the UAE-based AI contact center platform ZIWO has secured a strategic growth credit from Ajeej Capital’s Amplify Growth Fund, although the exact amount was not disclosed. Established in 2010 by Renaud de Gonfreville and Eric Ouisse, ZIWO has developed an Arabic-first, AI-powered Contact Center-as-a-Service platform that enables enterprises to manage diverse customer interactions through a unified system. Following significant revenue growth, the company aims to use the new funds to expand its footprint across the Gulf Cooperation Council (GCC) region and enhance its partnerships and AI technologies.

Another notable investment comes from Saudi Arabia's Madfu, which raised $25.5 million in a pre-Series A round led by Afaq Capital. Founded in 2022 by Abdullah Al-Ibrahim, Ahmed Al-Wusheel, and Anas Al-Shaqir, Madfu specializes in Shariah-compliant buy-now-pay-later solutions, allowing consumers to split purchases into up to six interest-free installments. The funding will facilitate the expansion of its merchant network throughout Saudi Arabia and the development of new products aligned with Islamic finance principles.

In the cybersecurity space, Saudi startup Solidrange has raised $2.4 million in a seed round led by Sharaka Capital. Founded in 2023 by Jamal Labani, Solidrange focuses on AI-powered Governance, Risk, and Compliance automation and cybersecurity awareness solutions. The new funds will support its regional expansion and the integration of AI across its platforms.

Egypt's Breadfast has also made headlines, securing $50 million in a pre-Series C funding round backed by notable investors including Mubadala Investment Co., a prominent Saudi billionaire family, and others. Initially launched in 2017 as a bread delivery service, the platform has evolved into a comprehensive e-commerce provider offering groceries, pharmaceuticals, and more. The funds will be allocated to enhance its infrastructure and scale logistics, preparing for a larger Series C round anticipated in early 2026.

In the proptech sector, UAE-based Stake raised $31 million in an oversubscribed Series B round, led by Emirates NBD and involving multiple investors including Mubadala Investment Company’s MENA Venture Capital Fund. Founded in 2021 by Manar Mahmassani, Rami Tabbara, and Ricardo Brizido, Stake enables users to invest in fractional property ownership. The funding will allow the company to expand its regulated offerings in Saudi Arabia and develop new products, including its StakeOne initiative.

Another Egyptian startup, Flextock, has raised $12.6 million in a Series A funding round led by TLcom Capital. Since its inception in 2021 by Mohamed Mossaad and Enas Siam, Flextock has provided integrated e-commerce infrastructure solutions across Egypt and Saudi Arabia. The funds will be used to enhance its technology systems and accelerate merchant acquisition, promoting small and medium-sized enterprise growth in the region.

On the horizon, Saudi AI startup Deep.SA has announced the participation of Vision Ventures in its pre-seed round, extending a previously secured $1.2 million investment. Founded in 2025 by Mohammed Daggas, the company focuses on developing locally hosted AI platforms tailored for governmental and enterprise clients, aiming to enhance operational efficiency and comply with local regulations.

Lastly, the Egyptian circular economy platform Dawar has acquired a stake in the consumer recycling app BekyaPay, enhancing its capacity for digital oversight at the household level. Since its founding in 2017, Dawar has established itself as a vital player in digital infrastructure for recyclable material flows, connecting various stakeholders and creating a unified traceability system.

In summary, these significant investments across the MENA region indicate a strong commitment to technology-led innovation, as startups leverage funding to expand their operations, improve their offerings, and significantly impact their respective sectors. As the region continues to embrace technological advancements, the potential for growth in these industries remains promising.