Startup Wrap: Fresh capital flows into MENA gaming, fintech and AI startups 

RIYADH: The latest wave of startup activity across the Middle East and North Africa spanned new funding rounds, regulatory approvals and product launches in construction technology, gaming, financial services, insurance, education and digital healthcare. 

Companies are directing fresh capital toward technology development, market expansion and new products across the region and internationally. 

Saudi-based construction technology platform Fitting raised $1.1 million in its second seed round, with participation from an undisclosed strategic investor from the contracting and real estate development sector. 

Founded in 2025 by Mohammed Al-Mubayed and Abdulaziz Al-Mubayad, Fitting develops digital tools to automate construction supply chains and streamline procurement among suppliers, contractors and real estate developers. 

The company will use the funding to expand across key Saudi markets, develop its technology infrastructure, and strengthen its technical and operational capabilities. 

Saudi game studio Majestic Mind Games raises $1.45m

Game development studio Majestic Mind Games has raised $1.45 million in a funding round co-led by Merak Capital and Impact46. 

Founded in 2023 by Lujain Al-Bukhari and Majed Anbar, the Neom-backed, Jeddah-based studio develops original games primarily for personal computers, with selected titles also released on consoles and mobile platforms. 

The funding will support the development of new titles for international markets as the company seeks to expand Saudi Arabia’s presence in the global gaming industry. 

Investment platform OORI secures CMA license ahead of launch 

Saudi-based private markets investment platform OORI has received a license from the Capital Market Authority to conduct arranging and advising activities and is preparing to commence operations. 

Founded in 2023 by Elie Nasr and Naif Al-Ajmi, OORI provides qualified investors in the Kingdom with regulated access to Shariah-compliant private market opportunities, initially targeting technology companies from pre-seed to pre-initial public offering stages. 

The company raised a seven-figure dollar pre-seed round in 2024 from strategic investors, family offices and angel investors across Saudi Arabia, the Gulf Cooperation Council and Europe. 

Participants included Bunat Ventures and RZM Investments. 

The funding was used to develop OORI’s technology platform, complete the licensing process and prepare for its operational launch. 

The company plans to expand into additional alternative asset classes, with its longer-term roadmap including tokenization, smart contracts and digital investment infrastructure. 

Qatar’s Rasmal Ventures joins Yuno’s $45m series B 

Qatar-based Rasmal Ventures has invested in Colombia-headquartered payments infrastructure company Yuno as part of its $45 million series B round, as the fintech establishes Qatar as its Gulf Cooperation Council hub. 

Rasmal joined GrowthX Capital and Further Ventures in the round, which was led by Global PayTech Ventures and included participation from Andreessen Horowitz, Tiger Global and other investors. 

Founded in 2022 by Juan Pablo Ortega and Julian Nunez, Yuno connects businesses to more than 1,000 payment methods across 190 countries through a single application programming interface. 

The company has expanded its Gulf presence through regulatory certification in Saudi Arabia and partnerships with Tap Payments and Tabby. 

UAE mobility fintech Naran raises $10m

Mobility fintech Naran has raised $10 million in equity and debt financing from UAE investment firm Landel to expand its fleet and enter new markets, including the Middle East and North Africa. 

Founded in 2025 by Bayaskhalan Alexeev and Alexander Gubarev,  the UAE-based Naran provides rent-to-own financing for cars and motorcycles to ride-hailing and delivery drivers. 

The company operates in Colombia, Peru, Senegal and Cote d’Ivoire and plans to enter Paraguay in September. It will also use the funding to introduce new financial technology products. 

Naran plans to offer its fleet management technology to third-party operators as a Software-as-a-Service product and provide asset-backed financing for fleet expansion. 

Bahrain-based Soor secures pre-seed funding 

Insurance technology startup Soor has secured an undisclosed pre-seed investment from Spring, a venture studio and ecosystem builder backed by London-based Salica and Bahrain’s Al Waha Fund of Funds. 

Founded in 2024 by Mahmood Dhaif and Qasim Al-Baqali and based in Bahrain, Soor operates a digital platform that allows users to compare and purchase policies from multiple insurers through a single application. 

The startup is licensed by the Central Bank of Bahrain and seeks to provide greater transparency around available policies, pricing and coverage options. 

Soor will use the investment to develop its platform, expand partnerships with insurance providers and improve the customer experience while strengthening its presence in Bahrain. It is also exploring expansion into other regional markets. 

UMAMI launches AI learning system backed by $1m plan 

Egypt-based education technology company UMAMI E-Learning Solutions has launched its Learning Operating System, backed by a phased investment plan exceeding 50 million Egyptian pounds ($1 million). 

Founded in 2019 by Ahmed Seif El-Din, UMAMI develops digital learning and workforce development solutions for governments, educational institutions and enterprises. 

The artificial intelligence-powered system connects learning, skills, workforce readiness, performance and institutional decision-making within a single platform. 

The investment will support the system’s development and rollout as UMAMI expands its learning infrastructure offering across Egypt and the wider MENA region. 

UAE customer intelligence startup Cobi raises $1m 

Customer intelligence startup Cobi has raised $1 million in a pre-seed round led by Lunara Partners, with participation from Plug and Play, Annex Investments and Spring. 

Founded in 2024 by Darren Edmund and Botlhale Mosoane, Cobi develops an AI-powered platform that analyzes behavioral, transactional, product and engagement data to identify changes in customer activity and recommend business actions. 

The funding will support enterprise deployments across the Middle East and international markets, strengthen the platform’s customer intelligence and recommendation capabilities, and further automate workflows connecting customer data with business decisions. 

Arab Therapy raises $2m to expand in Saudi Arabia and Middle East 

Berlin-based, Jordanian-founded digital mental health startup Arab Therapy has raised $2 million in a pre-series A round led by Manara Ventures, with participation from Anara Impact Fund and Value Makers Studio. 

Founded in 2021 by Jordanian entrepreneurs Tareq Dalbah and Hekmat Al-Hasi, Arab Therapy provides Arabic-language mental health care through online sessions with licensed specialists, mental health content and artificial intelligence-powered tools. 

The startup serves individual users and corporate customers and will use the funding to expand in Saudi Arabia and across the wider Middle East while scaling its AI-enabled services. 

Arab Therapy previously closed a $1 million seed round in April 2024, led by Flat6Labs and Vision Health Pioneers.