Startups across the Middle East and North Africa maintained strong momentum in early-stage funding, with August recording a 74 percent year-on-year increase, reaching $337.5 million across 47 deals.
Saudi Arabia led the region for the second consecutive month, attracting $166 million across 19 transactions, followed by the UAE with $154 million raised by 11 startups.
Key highlights included Riyadh-based Spare, an open banking infrastructure provider, which secured $5 million in a pre-Series A round led by anb Seed Fund. Meanwhile, Saudi fintech HALA raised an impressive $157 million in its Series B round, backed by major global and regional investors. The funds will be directed toward expanding embedded financial services, supporting small and medium-sized businesses, and scaling operations across the Kingdom and beyond.
This surge in activity underscores continued investor confidence in the region’s entrepreneurial ecosystem despite global economic headwinds, solidifying Saudi Arabia’s position as a leading hub for venture capital and startup growth in MENA.
