RIYADH, Saudi Arabia (MNTV) — Startups across the Middle East and North Africa have drawn a new wave of investor interest, securing funding across fintech, employment technology, proptech and artificial intelligence sectors.
In Saudi Arabia, digital financing marketplace Arib raised $23.5 million in a round led by Merak Capital, combining equity and Shariah-compliant Murabaha financing.
Founded in 2018, the platform connects users with banks and licensed lenders, allowing customers to compare and apply for financing through a single digital interface. The company said the capital will support technology upgrades, product expansion and new lending solutions.
UAE-based RemotePass secured $17.4 million in Series B funding led by EBRD Venture Capital, with backing from global and regional investors.
The workforce platform, which manages payroll and contractor payments across more than 150 countries, plans to expand into Europe and the United States while investing further in AI-driven compliance and automation tools.
In Jordan, the Jordan Capital and Investment Fund launched Manara Ventures, a $70.5 million Shariah-compliant growth fund targeting more than 20 technology startups. The fund will provide investments ranging from $750,000 to $3 million and support regional expansion for high-growth companies.
Tunisia’s EYST Technology raised a six-figure investment from 216 Capital to scale its insurance technology platform, which enables insurers to settle claims instantly through virtual bank cards.
The funding will support product development and expansion into markets across Europe, the Americas, Asia and the Middle East.
Swedish sports tech firm PlayReplay also secured $12 million in funding, with plans to expand into key MENA markets including Saudi Arabia, the UAE, Qatar and Egypt. The company develops AI-powered systems for racquet sports, including analytics and electronic line-calling technology.
Egyptian mobility startup ARRW raised $4 million from Tasheed Egypt to expand its ride-hailing operations and strengthen its driver network and technical infrastructure.
Egypt-based GrowthLabs acquired Startup Gate in a $657,000 deal aimed at building a unified regional ecosystem platform for startups and investors. The integration will combine Startup Gate’s network with GrowthLabs’ Catalyst OS platform.
UAE proptech firm eVoost AI secured $2.2 million in funding to expand its AI-driven property sales platform across Europe, the Gulf region and the United States.
UAE-based Peekabox also raised $1.5 million in seed funding to scale its surplus food marketplace across the UAE and expand into wider GCC markets, beginning with Saudi Arabia.
Analysts say the continued flow of capital reflects sustained investor confidence in the region’s digital economy and its growing role in global technology innovation.
Reported by: SR
