UAE-based fintech Wafeq raised $7.5 million in a Series A funding round. The round was led by 9900 Capital, wi ..Read More

UAE-based fintech Wafeq raised $7.5 million in a Series A funding round. The round was led by 9900 Capital, with participation from Gary Turner, former CEO of Xero’s operations in EMEA, and existing investors Raed Ventures and Wamda Capital. The funds will support Wafeq’s expansion, particularly in Saudi Arabia, where 90% of its business originates, and in the UAE.
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Tunisia-based fintech, Konnect secured a funding round from Renew Capital for an undisclosed amount. Founded i ..Read More

Tunisia-based fintech, Konnect secured a funding round from Renew Capital for an undisclosed amount. Founded in 2021 by Amin Ben Abderrahman, Konnect specializes in payment links, e-commerce plugins, and APIs tailored for businesses of all sizes. The investment was aimed at supporting Konnect in scaling its operations.
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Riyadh-based fintech infrastructure provider, Lean Technologies raised $67.5M in a Series B funding round led ..Read More

Riyadh-based fintech infrastructure provider, Lean Technologies raised $67.5M in a Series B funding round led by General Catalyst, marking the firm’s first investment in a Saudi startup. Additional investors included Bain Capital Ventures, Duquesne Family Office, and Arbor Ventures, bringing Lean’s total funding to over $100 million.
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Kuwait-based Arzan Venture Capital invested $M alongside Arzan Financial Group (AFG) to establish Revenya Capi ..Read More

Kuwait-based Arzan Venture Capital invested $M alongside Arzan Financial Group (AFG) to establish Revenya Capital, a Saudi Arabia-based revenue-based financing (RBF) firm. Supported by a credit facility from AFG’s network, Revenya Capital aims to address the demand for non-dilutive financing solutions in the MENA region, focusing on empowering tech startups.
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Saudi Arabia-based fintech, Mala has raised $7 million in a pre-Seed round led by VentureSouq and Shorooq Part ..Read More

Saudi Arabia-based fintech, Mala has raised $7 million in a pre-Seed round led by VentureSouq and Shorooq Partners, with participation from M Capital, BECO Capital, and Silicon Valley’s D Global Ventures. Founded by Musaab Hakami in 2024, Mala offers SMEs a B2B procure-now-pay-later (PNPL) platform that provides flexible credit terms while ensuring immediate payments to suppliers. This funding will support Mala’s official launch in Saudi Arabia in Q4 2024.
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UAE-based fintech Abhi has secured $15 million in debt financing led by Shorooq Partners and Amplify Growth Pa ..Read More

UAE-based fintech Abhi has secured $15 million in debt financing led by Shorooq Partners and Amplify Growth Partnership. Founded in Pakistan in 2021 by Ali Ladhubhai and Omair Ansari, Abhi focuses on financial inclusion for employees and SMEs in the MENAP region. The new funds will help Abhi scale operations and expand its earned wage access (EWA) services for blue- and white-collar workers.
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Egypt-based fintech Paymob has secured additional funding led by EBRD Venture Capital, with participation from ..Read More

Egypt-based fintech Paymob has secured additional funding led by EBRD Venture Capital, with participation from Endeavor Catalyst and existing investors like PayPal Ventures, BII, FMO, A15, Nclude, and Helios Digital Ventures, bringing its total Series B funding to $72 million. This will support Paymob's growth strategy across MENA.
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UAE-based fintech FlapKap has secured new funding led by BECO Capital, with notable investment from Pact VC an ..Read More

UAE-based fintech FlapKap has secured new funding led by BECO Capital, with notable investment from Pact VC and follow-on contributions from A15, Nclude, QED Investors, along with debt financing from Channel Capital. This brings FlapKap's total funding to $37.6 million.
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