RIYADH: Startups around the Center East and North Africa persisted attracting investor hobby this week, with corporations running in fintech, employment generation, belongings tech.
Saudi virtual financing market Arib raised $23.5 million in a investment spherical led via Merak Capital as the corporate appears to extend its platform and make stronger its place inside of Saudi Arabia’s rising fintech sector.
The spherical incorporated Shariah-compliant Murabaha financing amenities, highlighting persisted investor urge for food for Islamic fintech merchandise and virtual lending infrastructure around the Kingdom.
Based in 2018 via Omar Al-Hammad, Mohamed Dessouky, and Waleed Talat, Arib operates a financing market that connects customers with banks and certified lenders via a unmarried virtual platform.
The corporate permits consumers to check financing provides and observe on-line in line with their monetary profiles and borrowing necessities.
Arib stated the investment will beef up growth of its generation infrastructure, boost up product construction, make stronger operations, and release new financing merchandise focused on each shoppers and companies.
The corporate is positioning itself to have the benefit of emerging call for for sooner and extra versatile financing answers amongst more youthful shoppers, marketers, and SMEs in Saudi Arabia because the Kingdom continues advancing monetary sector modernization underneath Imaginative and prescient 2030.
RemotePass secures $17.4m sequence B to extend globally
UAE-founded international employment and payroll platform RemotePass raised $17.4 million in sequence B investment led via EBRD Mission Capital, with participation from 500 World and current traders together with Oraseya Capital, 212 VC, Get entry to Bridge Ventures, and Khwarizmi Ventures.
RemotePass, based in 2021, supplies payroll, contractor control, and staff fee infrastructure for firms running throughout a couple of markets. The corporate says it helps greater than 35,000 employees throughout over 150 nations and has facilitated greater than $800 million in cross-border payroll.
“This round is about acceleration,” stated 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 beef up growth around the nation’s transportation sector. (Provided)
RemotePass stated the investment will beef up growth throughout Europe and the United States, make stronger compliance protection, and proceed funding in embedded monetary merchandise and AI functions.
The corporate just lately introduced SpendCards, integrating payroll, contractor bills, and expense control right into a unmarried platform, whilst additionally rolling out AI brokers designed to automate onboarding, compliance, and beef up workflows.
JCIF launches $70.5m Manara Ventures fund for Jordanian startups
Jordan Capital and Funding Fund introduced Manara Ventures, a $70.5 million scale-up fund taken with Jordanian generation and innovation-driven startups.
The fund secured backing from regional institutional traders, together with Abu Dhabi-based funding company Lunate, and used to be established in Abu Dhabi World Marketplace as a completely Shariah-compliant platform.
Manara Ventures plans to spend money on greater than 20 growth-stage Jordanian generation corporations, with cheque sizes starting from $750,000 to $3 million.
The fund additionally reserved further capital to beef up as much as 15 high-performing startups pursuing regional growth alternatives.
Tunisia’s EYST Era raises investment for international growth
Tunisia-based insurance coverage tech startup EYST Era raised a six-figure funding from 216 Capital to beef up product construction and global progress.
Based in 2022 via Marwen Amamou, Antoine Vanoverberghe, and Arnaud Brodzki, EYST evolved a Device-as-a-Carrier platform that permits insurers to settle claims immediately the usage of digital credit cards.
The corporate stated the investment shall be used to extend product options, make stronger gross sales and knowledge groups, and beef up growth throughout Europe, the United States, the Center East, South The us, and Asia.
PlayReplay raises $12m because it goals MENA growth
Swedish sports activities tech corporate PlayReplay raised $12 million in a investment spherical led via Alfven & Didrikson, with participation from Middle Courtroom Capital, ExM Funding Companions, Charbe Companions, Red Sports activities Capital, and a fund controlled via LionTree.
Based in 2019 via Hans Lundstam and Mattias Hanqvist, PlayReplay develops AI-powered methods for racquet sports activities, together with digital line-calling generation, training equipment, and fit analytics.
The corporate stated it plans to extend into the Center East, figuring out Saudi Arabia, the UAE, Qatar, and Egypt as key goal markets.
PlayReplay has partnered with Soderhub to beef up 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 beef up growth around the nation’s transportation sector.
Based via Ahmed Taalab, ARRW describes itself as Egypt’s first authorized ride-hailing platform and is positioning itself as a in the neighborhood centered choice inside the marketplace.
The corporate stated the investment will beef up growth of its driving force community, make stronger technical infrastructure, and reinforce person enjoy around the platform.
Arib operates a financing market that connects customers with banks and certified lenders. (Provided)
GrowthLabs acquires Startup Gate in $657k deal
Egypt-based startup ecosystem builder GrowthLabs received founder and investor community platform Startup Gate for $657,000 in a transaction facilitated via M-Empire.
The purchase targets to create what the firms described as MENA’s first unified virtual infrastructure platform for innovation, entrepreneurship, and startup beef up.
Startup Gate’s founder and investor community shall be built-in with Catalyst OS, GrowthLabs’ running device for incubators and accelerators.
GrowthLabs, based via Islam Mohamed, stated it has supported greater than 5,000 startups via over 60 global techniques and plans to extend into 5 further nations around the Gulf and Africa via the top of 2026.
Startup Gate used to be based via Emmy Tawfik and at first introduced underneath Aria Ventures sooner than spinning off independently with seed backing from M-Empire.
EVoost AI raises $2.2m for proptech growth
UAE-based proptech startup eVoost AI raised $2.2 million in a investment spherical led via First Drop VC, with participation from Qora71, subsidized via Hub71.
Based in 2024 via Cristian Pastrana and Koh Onozawa, eVoost AI develops an AI-powered platform designed to optimize residential belongings gross sales the usage of predictive analytics and automation.
The corporate stated the investment will beef up product construction, global growth, and workforce progress throughout Spain, Portugal, the UAE, and the United States.
The corporate in the past secured a seed funding from Qora71 closing 12 months for an undisclosed quantity.
Peekabox raises $1.5m seed spherical to extend in GCC
UAE-based surplus meals market Peekabox raised an oversubscribed $1.5 million seed spherical subsidized via regional operators and advisers.
Based in 2025 via Hasan and Omair Sarwar, Peekabox permits meals and grocery companies to promote surplus stock at reductions starting from 50 % to 70 %.
The corporate stated the investment will beef up go-to-market growth around the UAE, with plans to scale into wider GCC markets beginning with Saudi Arabia.
