A fresh wave of investments is propelling startups in the MENA region across various industries, including fintech, e-commerce, healthcare, and sustainability. The latest funding rounds reflect strong investor confidence in innovative business models and emerging technologies that are transforming markets regionally and beyond.
Aya Raises $1.5 Million to Expand Modest Fashion E-Commerce
Saudi e-commerce startup Aya has successfully raised SR6 million ($1.5 million) in seed funding. The investment round was led by Khwarizmi Ventures, with participation from Raed Ventures, Joa Capital, and FENA Holdings, alongside angel investors including Turki Alrajhi.
Aya, founded by Munira Al-Kadi and Abdulrahman Al-Ammar, aims to unify the modest fashion industry with a trend-driven discovery platform. The company utilizes real-time consumer insights to predict fashion trends and streamline on-demand manufacturing.
“This investment is not just about funding; it validates our mission to revolutionize a high-growth, traditional market,” said Al-Kadi. “We are building a transformative platform and seeking entrepreneurial talent to join our journey.”
Homam Meaddawi, a partner at Khwarizmi Ventures, emphasized the potential of Aya in disrupting the fragmented modest fashion sector. “With their experience in e-commerce, the founders of Aya are well-positioned to capture the multi-billion-dollar abaya market,” he noted.
The funding will support platform enhancements, product development, and regional expansion.
Ajras Secures $1.5 Million to Expand Proptech Solutions
Saudi proptech startup Ajras has raised $1.5 million in a pre-Series A funding round led by Veda Holding. Founded in 2022 by Muath Al-Jubailan, Ajras provides innovative financing solutions to simplify rent payments in the commercial and industrial sectors.
The company, licensed by the General Authority for Real Estate, recently launched a “rent now, pay later” service. This follows a substantial SR105.05 million seed funding round in November 2023, led by Madarek International.
Ajras aligns with Saudi Arabia’s initiatives to modernize real estate and improve financial accessibility for businesses.
PayTabs Acquires 51% of PayTabs Egypt
Saudi fintech giant PayTabs Group has acquired a 51% stake in PayTabs Egypt from EFG Finance, a subsidiary of EFG Holding. The move strengthens PayTabs’ presence in Egypt’s digital payments sector.
“Our commitment to Egypt’s digital payments future remains strong, and we will continue driving innovation,” said Abdulaziz Al-Jouf, CEO and founder of PayTabs Group.
EFG Finance CEO Aladdin El-Afifi explained that selling part of its stake aligns with a strategic focus on sustainable growth in core areas.
The acquisition aims to expand PayTabs’ merchant services and enhance financial inclusion in Egypt.
Klaim Raises $10 Million Series A and $16 Million Financing Fund
Healthcare fintech startup Klaim has secured $10 million in Series A funding, along with a $16 million financing fund, to fuel its regional expansion. Founded in 2019, Klaim leverages AI to improve medical insurance claims processing and cash flow management for healthcare providers.
The company’s technology streamlines claim settlements by predicting insurance payment patterns. The funding will accelerate its expansion across the UAE, Saudi Arabia, and Oman while further enhancing its AI-driven platform.
Through a strategic partnership with Tharawat Tuwaiq Financial Co., Klaim has secured regulatory approval for a SR60 million healthcare financing fund, with its first transactions scheduled for March 2025.
Motery Valued at $8 Million Following Seed Round
Kuwait-based fintech startup Motery has completed its seed funding round, securing a valuation of $8 million. The company provides an all-in-one online platform for car purchases and financing.
With the new funding, Motery plans to enhance its technology, expand services, and grow its market share in Kuwait’s automotive sector.
Longevity Wellness Hub Expands with $4 Million Investment
Longevity Wellness Hub has raised $4 million to expand its presence across the Gulf Cooperation Council (GCC). The company integrates quantum diagnostics, precision-designed infusions, and advanced recovery therapies to optimize health outcomes.
A key part of Longevity’s expansion strategy is its investment in quantum scanning technology, which uses biometric analysis to deliver personalized health insights. The company also incorporates alternative therapies like hyperbaric oxygen and red light therapy, merging ancient healing practices with modern biohacking techniques.
Phoenix Venture Partners’ Innovation Fund Attracts Global Investors
Phoenix Venture Partners has successfully completed the second closing of its innovation fund, drawing investors from France, Luxembourg, Mauritius, Kuwait, and Saudi Arabia. The fund focuses on deep tech, AI, and sustainable technologies, reflecting strong global confidence in its strategic vision.
ORA Technologies Secures $1.9 Million for Digital Growth
Moroccan startup ORA Technologies has raised $1.9 million in a pre-Series A round led by Witamax and Azur Innovation Fund. The funding will be used to scale its food delivery platform, Kooul, and expand its digital payment solution, ORA Cash, which has rapidly grown across six cities.
Aramco Ventures Invests in German Direct Air Capture Startup Ucaneo
Aramco Ventures, the investment arm of Saudi Aramco, has invested in German climate tech startup Ucaneo. The company is developing Germany’s largest direct air capture (DAC) facility to remove carbon dioxide from the atmosphere.
Ucaneo previously raised €6.75 million ($7.36 million) in a seed round, though Aramco Ventures has not disclosed the specific amount of its investment.
Aramco’s involvement underscores its commitment to supporting climate tech innovations aligned with global carbon reduction efforts.
Oman Investment Authority Backs US Biotech Firm Tidal Vision
The Oman Investment Authority (OIA) has participated in Tidal Vision’s $140 million Series B round. Tidal Vision specializes in sustainable biopolymer solutions for industries like water treatment and agriculture.
The investment aligns with OIA’s broader sustainability strategy and ongoing efforts to localize advanced technologies.
With this funding, Tidal Vision plans to expand operations in Europe and the U.S., furthering its mission to scale eco-friendly material solutions globally.
The recent funding surge highlights the MENA region’s growing influence in global entrepreneurship. From fintech to sustainability, startups continue to attract major investments, paving the way for innovation and economic growth.
