RIYADH: Startups throughout the Center East and North Africa continued attracting investor curiosity this week, with corporations working in fintech, employment expertise, property tech.
Saudi digital financing market Arib raised $23.5 million in a funding spherical led by Merak Capital as the corporate seems to develop its platform and strengthen its place inside Saudi Arabia’s rising fintech sector.
The spherical included Shariah-compliant Murabaha financing amenities, highlighting continued investor urge for food for Islamic fintech merchandise and digital lending infrastructure throughout the Kingdom.
Based in 2018 by Omar Al-Hammad, Mohamed Dessouky, and Waleed Talat, Arib operates a financing market that connects customers with banks and licensed lenders by way of a single digital platform.
The corporate allows clients to check financing gives and apply on-line primarily based on their monetary profiles and borrowing necessities.
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Arib mentioned the funding will assist enlargement of its expertise infrastructure, speed up product improvement, strengthen operations, and launch new financing merchandise focusing on each shoppers and companies.
The corporate is positioning itself to learn from rising demand for quicker and extra versatile financing options amongst youthful shoppers, entrepreneurs, and SMEs in Saudi Arabia because the Kingdom continues advancing monetary sector modernization beneath Imaginative and prescient 2030.
RemotePass secures $17.4m collection B to develop globally
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UAE-founded world employment and payroll platform RemotePass raised $17.4 million in collection B funding led by EBRD Enterprise Capital, with participation from 500 International and present traders together with Oraseya Capital, 212 VC, Entry Bridge Ventures, and Khwarizmi Ventures.
RemotePass, based in 2021, gives payroll, contractor administration, and workforce cost infrastructure for corporations working throughout a number of markets. The corporate says it helps greater than 35,000 employees throughout over 150 international locations and has facilitated greater than $800 million in cross-border payroll.
“This round is about acceleration,” mentioned Kamal Reggad, CEO and co-founder of RemotePass. “Building a globally competitive platform from the region, in a market that incumbents underestimated, is something we are incredibly proud of.”
Egypt’s ARRW has secured a $4 million funding from Tasheed Egypt to assist enlargement throughout the nation’s transportation sector. (Provided)
RemotePass mentioned the funding will assist enlargement throughout Europe and the US, strengthen compliance protection, and proceed funding in embedded monetary merchandise and AI capabilities.
The corporate lately launched SpendCards, integrating payroll, contractor funds, and expense administration right into a single platform, whereas additionally rolling out AI brokers designed to automate onboarding, compliance, and assist workflows.
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JCIF launches $70.5m Manara Ventures fund for Jordanian startups
Jordan Capital and Funding Fund launched Manara Ventures, a $70.5 million scale-up fund centered on Jordanian expertise and innovation-driven startups.
The fund secured backing from regional institutional traders, together with Abu Dhabi-based funding agency Lunate, and was established in Abu Dhabi International Market as a completely Shariah-compliant platform.
Manara Ventures plans to put money into greater than 20 growth-stage Jordanian expertise corporations, with cheque sizes starting from $750,000 to $3 million.
The fund additionally reserved extra capital to assist as much as 15 high-performing startups pursuing regional enlargement alternatives.
Tunisia’s EYST Know-how raises funding for world enlargement
Tunisia-based insurance coverage tech startup EYST Know-how raised a six-figure funding from 216 Capital to assist product improvement and worldwide progress.
Based in 2022 by Marwen Amamou, Antoine Vanoverberghe, and Arnaud Brodzki, EYST developed a Software program-as-a-Service platform that allows insurers to settle claims immediately utilizing digital financial institution playing cards.
The corporate mentioned the funding will likely be used to develop product options, strengthen gross sales and knowledge groups, and assist enlargement throughout Europe, the US, the Center East, South America, and Asia.
PlayReplay raises $12m because it targets MENA enlargement
Swedish sports activities tech firm PlayReplay raised $12 million in a funding spherical led by Alfven & Didrikson, with participation from Middle Courtroom Capital, ExM Funding Companions, Charbe Companions, Crimson Sports activities Capital, and a fund managed by LionTree.
Based in 2019 by Hans Lundstam and Mattias Hanqvist, PlayReplay develops AI-powered programs for racquet sports activities, together with digital line-calling expertise, teaching instruments, and match analytics.
The corporate mentioned it plans to develop into the Center East, figuring out Saudi Arabia, the UAE, Qatar, and Egypt as key goal markets.
PlayReplay has partnered with Soderhub to assist regional partnerships and funding alternatives throughout MENA.
Egypt’s ARRW secures $4m from Tasheed Egypt
Egypt-based mobility startup ARRW secured a $4 million funding from Tasheed Egypt to assist enlargement throughout the nation’s transportation sector.
Based by Ahmed Taalab, ARRW describes itself as Egypt’s first licensed ride-hailing platform and is positioning itself as a regionally centered various inside the market.
The corporate mentioned the funding will assist enlargement of its driver community, strengthen technical infrastructure, and enhance person expertise throughout the platform.
Arib operates a financing market that connects customers with banks and licensed lenders. (Provided)
GrowthLabs acquires Startup Gate in $657k deal
Egypt-based startup ecosystem builder GrowthLabs acquired founder and investor community platform Startup Gate for $657,000 in a transaction facilitated by M-Empire.
The acquisition goals to create what the businesses described as MENA’s first unified digital infrastructure platform for innovation, entrepreneurship, and startup assist.
Startup Gate’s founder and investor community will likely be built-in with Catalyst OS, GrowthLabs’ working system for incubators and accelerators.
GrowthLabs, based by Islam Mohamed, mentioned it has supported greater than 5,000 startups by way of over 60 worldwide packages and plans to develop into 5 extra international locations throughout the Gulf and Africa by the tip of 2026.
Startup Gate was based by Emmy Tawfik and initially launched beneath Aria Ventures earlier than spinning off independently with seed backing from M-Empire.
EVoost AI raises $2.2m for proptech enlargement
UAE-based proptech startup eVoost AI raised $2.2 million in a funding spherical led by First Drop VC, with participation from Qora71, backed by Hub71.
Based in 2024 by Cristian Pastrana and Koh Onozawa, eVoost AI develops an AI-powered platform designed to optimize residential property gross sales utilizing predictive analytics and automation.
The corporate mentioned the funding will assist product improvement, worldwide enlargement, and staff progress throughout Spain, Portugal, the UAE, and the US.
The corporate beforehand secured a seed funding from Qora71 final 12 months for an undisclosed quantity.
Peekabox raises $1.5m seed spherical to develop in GCC
UAE-based surplus meals market Peekabox raised an oversubscribed $1.5 million seed spherical backed by regional operators and advisers.
Based in 2025 by Hasan and Omair Sarwar, Peekabox allows meals and grocery companies to promote surplus stock at reductions starting from 50 p.c to 70 p.c.
The corporate mentioned the funding will assist go-to-market enlargement throughout the UAE, with plans to scale into wider GCC markets beginning with Saudi Arabia.
