RIYADH: Startup investment activity across the Middle East and North Africa recovered in April 2026, with startups raising $150 million across 27 deals, according to Wamda’s monthly investment report.
The figure represents a 211 percent increase compared to March, when regional funding activity had slowed sharply amid geopolitical uncertainty and investor caution.
Despite the month-on-month rebound, overall funding remained down 42 percent compared to April 2025, reflecting continued pressure on venture activity across the region.
The report noted that nearly half of the capital deployed during the month came through debt financing, highlighting investor preference for structured capital and lower-risk instruments over traditional equity exposure.
The relative stability that carried into early May appears to have encouraged investors to cautiously resume activity.
However, the report said the market remains selective, with capital concentrated in fewer, larger transactions and sectors viewed as more resilient during periods of uncertainty.
April’s recovery was driven partly by debt transactions, which accounted for $80 million raised across two deals.
According to the report, the dominance of debt financing suggests investors continue to prioritize downside protection and capital-efficient structures as regional market conditions remain uncertain.
At the same time, early-stage startups represented the majority of transactions during the month.
Some 17 startups collectively raised $40.6 million, indicating that investors are still willing to back emerging companies, although with smaller check sizes and tighter deployment strategies.
Only one later-stage transaction was recorded during April, involving Egypt-based fintech Lucky. The limited number of growth-stage deals reflects a broader slowdown in later-stage equity financing across the region.
The UAE continued to lead regional startup funding activity, attracting $78 million across eight deals, accounting for 52 percent of total capital raised during the month.
Saudi Arabia ranked second, with seven startups raising a combined $26.2 million. Egypt followed closely with a similar funding total spread across five transactions, maintaining its position as one of the region’s most active startup markets.
Smaller Gulf markets also recorded increased activity during April. Oman, Bahrain, and Qatar collectively raised $14.5 million across five deals, pointing to broader, although still moderate, investor participation across the region.
Financial technology remained the most funded sector in April for the fourth consecutive month, securing $89.4 million across seven deals. The report attributed the sector’s resilience to sustained demand for financial infrastructure solutions and enterprise-focused products, which tend to perform more consistently during uncertain market conditions.
E-commerce activity also recovered during the month after a slowdown in March. The sector raised $19.3 million across four deals, marking a return of investor interest in digital commerce platforms.
Online services startups raised $15 million across two transactions, while food technology companies attracted $13 million through two deals, reflecting continued interest in operational and consumer-focused digital platforms.
Business-to-business startups continued to dominate investment activity in April, raising $95.8 million across 11 deals. In comparison, B2C startups secured $35.8 million through 12 transactions.
The report said the trend reflects investor preference for startups with predictable revenue models, enterprise contracts, and infrastructure-focused offerings. Investors are increasingly prioritising businesses viewed as more resilient to economic volatility and consumer spending fluctuations.
This shift also reflects broader changes in investor behavior across the MENA venture ecosystem, where capital deployment has become more selective and concentrated around companies with clearer monetization pathways.
Female-led startups returned to the regional funding landscape in April after two consecutive months without recorded transactions. According to the report, female-founded startups raised $1.5 million across five deals during the month.
However, funding disparities remained significant. Male-founded startups secured $138.8 million across 19 transactions, while startups with mixed-gender founding teams raised $10 million across three deals.
The report said the broader investment environment continues to favor companies aligned with institutional demand, financial infrastructure, and AI-adjacent sectors.
While investor activity has resumed, deployment remains cautious, with funding directed toward startups perceived as more defensible and capital-efficient.
Wamda’s report concluded that April’s funding increase signals that the market may have found temporary stability rather than entering a full recovery cycle.
Investors remain active, but are deploying capital selectively and with greater emphasis on risk management and sustainable growth models.
Saudi fintech RiFD partners with Kingsbury
Saudi Arabia-based fintech RiFD has partnered with British-owned private and structured credit specialist Kingsbury & Partners to expand securitization and structured finance solutions.
The partnership combines RiFD’s technology platform with Kingsbury’s transaction structuring and execution capabilities to support institutions seeking access to structured credit markets.
Under the agreement, RiFD will serve as the infrastructure layer for aggregating, analyzing, and managing securitized assets.
The company, led by Abdulrahman Al-Dakheel, Nassir Al-Kassebi, and Paula Tavangar, operates a “securitization-as-a-service” model designed to help institutions structure and package assets across sectors including housing, infrastructure, and small and medium-sized enterprises.
Kingsbury will support transaction structuring, investor alignment, and access to global credit frameworks.
The partnership comes as regional financial institutions increasingly explore alternative financing structures and digital infrastructure to improve capital efficiency and broaden investor participation in private credit markets.
Saudi health tech Metafare raises $1m
Saudi Arabia-based health tech startup Metafare has raised $1 million in its first funding round, backed by Harmonics Ventures and a group of family offices.
The company said the funding will be used to accelerate development of its digital health platform and support regional expansion efforts.
Founded in 2025 by Ibrahim Al-Maghlouth, Metafare develops digital health experiences powered by virtual reality and artificial intelligence.
The startup is focused on building personalized healthcare tools aimed at improving patient engagement and digital wellness experiences.
The company said the new capital will support product development and further investment in AI-driven personalization capabilities.
The funding also positions Metafare to expand its operations across regional healthcare markets as demand for digital health technologies continues to grow in the Gulf.
Saudi health tech Madeed raises additional pre-seed funding
Saudi Arabia-based health tech startup Madeed has secured additional pre-seed funding, bringing its total capital raised to $925,000.
The latest round included participation from SEEDRA Ventures, Unity Investment Partners, and Seen Growth, alongside existing backers and regional angel investors.
Founded in 2025 by Adam Bataineh, Madeed is building a preventive health platform focused on early disease risk detection through advanced biomarkers and laboratory testing.
The company aims to support proactive healthcare management through data-driven diagnostics and preventive screening tools.
Madeed said the funding will be used to advance product development and expand its network of clinical and laboratory partnerships, beginning in Saudi Arabia.
In January, Vision Ventures led the startup’s earlier $400,000 pre-seed round with participation from Saudi angel investors Mashhoor Al-Dubayan, Mazen Al-Darrab, and Abdulla Elyas.
E-commerce platform Siin raises funding to scale
Bahrain-born e-commerce startup Siin has secured new funding, bringing its total capital raised to $3 million. The round was led by VentureSouq and Shift Group, with participation from Plus VC, Oqal, and other regional investors.
Founded in 2024 by Ahmed Al-Lawi, Hesham Al-Saati, and Khaled Al-Balooshi, Siin operates an interactive e-commerce platform that enables users to buy and sell products through live-streamed shopping experiences.
The company currently operates across Saudi Arabia, the UAE, and Kuwait, as well as Bahrain, Qatar, and Oman.
The startup said the funding will be used to support regional expansion, grow its seller ecosystem, and scale its platform infrastructure.
Live commerce platforms have gained traction across the region as retailers and creators increasingly adopt video-driven shopping formats to engage online consumers.
