Startup Wrap: MENA startups attract fresh funding across fintech, HR tech and AI sectors - Arab News PK

RIYADH: Startups across the Middle East and North Africa continued attracting investor interest this week, with companies operating in fintech, employment technology, property tech.

Saudi digital financing marketplace Arib raised $23.5 million in a funding round led by Merak Capital as the company looks to expand its platform and strengthen its position within Saudi Arabia’s growing fintech sector. 

The round included Shariah-compliant Murabaha financing facilities, highlighting continued investor appetite for Islamic fintech products and digital lending infrastructure across the Kingdom. 

Founded in 2018 by Omar Al-Hammad, Mohamed Dessouky, and Waleed Talat, Arib operates a financing marketplace that connects users with banks and licensed lenders through a single digital platform. 

The company enables customers to compare financing offers and apply online based on their financial profiles and borrowing requirements. 

Arib said the funding will support expansion of its technology infrastructure, accelerate product development, strengthen operations, and launch new financing products targeting both consumers and businesses. 

The company is positioning itself to benefit from rising demand for faster and more flexible financing solutions among younger consumers, entrepreneurs, and SMEs in Saudi Arabia as the Kingdom continues advancing financial sector modernization under Vision 2030. 

RemotePass secures $17.4m series B to expand globally 

UAE-founded global employment and payroll platform RemotePass raised $17.4 million in series B funding led by EBRD Venture Capital, with participation from 500 Global and existing investors including Oraseya Capital, 212 VC, Access Bridge Ventures, and Khwarizmi Ventures. 

RemotePass, founded in 2021, provides payroll, contractor management, and workforce payment infrastructure for companies operating across multiple markets. The company says it supports more than 35,000 workers across over 150 countries and has facilitated more than $800 million in cross-border payroll. 

“This round is about acceleration,” said 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.” 

RemotePass said the funding will support expansion across Europe and the US, strengthen compliance coverage, and continue investment in embedded financial products and AI capabilities. 

The company recently launched SpendCards, integrating payroll, contractor payments, and expense management into a single platform, while also rolling out AI agents designed to automate onboarding, compliance, and support workflows. 

JCIF launches $70.5m Manara Ventures fund for Jordanian startups 

Jordan Capital and Investment Fund launched Manara Ventures, a $70.5 million scale-up fund focused on Jordanian technology and innovation-driven startups. 

The fund secured backing from regional institutional investors, including Abu Dhabi-based investment firm Lunate, and was established in Abu Dhabi Global Market as a fully Shariah-compliant platform. 

Manara Ventures plans to invest in more than 20 growth-stage Jordanian technology companies, with cheque sizes ranging from $750,000 to $3 million. 

The fund also reserved additional capital to support up to 15 high-performing startups pursuing regional expansion opportunities. 

Tunisia’s EYST Technology raises funding for global expansion 

Tunisia-based insurance tech startup EYST Technology raised a six-figure investment from 216 Capital to support product development and international growth. 

Founded in 2022 by Marwen Amamou, Antoine Vanoverberghe, and Arnaud Brodzki, EYST developed a Software-as-a-Service platform that enables insurers to settle claims instantly using virtual bank cards. 

The company said the funding will be used to expand product features, strengthen sales and data teams, and support expansion across Europe, the US, the Middle East, South America, and Asia. 

PlayReplay raises $12m as it targets MENA expansion 

Swedish sports tech company PlayReplay raised $12 million in a funding round led by Alfven & Didrikson, with participation from Center Court Capital, ExM Investment Partners, Charbe Partners, Crimson Sports Capital, and a fund managed by LionTree. 

Founded in 2019 by Hans Lundstam and Mattias Hanqvist, PlayReplay develops AI-powered systems for racquet sports, including electronic line-calling technology, coaching tools, and match analytics. 

The company said it plans to expand into the Middle East, identifying Saudi Arabia, the UAE, Qatar, and Egypt as key target markets. 

PlayReplay has partnered with Soderhub to support regional partnerships and investment opportunities across MENA. 

Egypt’s ARRW secures $4m from Tasheed Egypt 

Egypt-based mobility startup ARRW secured a $4 million investment from Tasheed Egypt to support expansion across the country’s transportation sector. 

Founded by Ahmed Taalab, ARRW describes itself as Egypt’s first licensed ride-hailing platform and is positioning itself as a locally focused alternative within the market. 

The company said the funding will support expansion of its driver network, strengthen technical infrastructure, and improve user experience across the platform. 

GrowthLabs acquires Startup Gate in $657k deal 

Egypt-based startup ecosystem builder GrowthLabs acquired founder and investor network platform Startup Gate for $657,000 in a transaction facilitated by M-Empire. 

The acquisition aims to create what the companies described as MENA’s first unified digital infrastructure platform for innovation, entrepreneurship, and startup support. 

Startup Gate’s founder and investor network will be integrated with Catalyst OS, GrowthLabs’ operating system for incubators and accelerators. 

GrowthLabs, founded by Islam Mohamed, said it has supported more than 5,000 startups through over 60 international programs and plans to expand into five additional countries across the Gulf and Africa by the end of 2026. 

Startup Gate was founded by Emmy Tawfik and originally launched under Aria Ventures before spinning off independently with seed backing from M-Empire. 

EVoost AI raises $2.2m for proptech expansion 

UAE-based proptech startup eVoost AI raised $2.2 million in a funding round led by First Drop VC, with participation from Qora71, backed by Hub71. 

Founded in 2024 by Cristian Pastrana and Koh Onozawa, eVoost AI develops an AI-powered platform designed to optimize residential property sales using predictive analytics and automation. 

The company said the funding will support product development, international expansion, and team growth across Spain, Portugal, the UAE, and the US. 

The company previously secured a seed investment from Qora71 last year for an undisclosed amount. 

Peekabox raises $1.5m seed round to expand in GCC 

UAE-based surplus food marketplace Peekabox raised an oversubscribed $1.5 million seed round backed by regional operators and advisers. 

Founded in 2025 by Hasan and Omair Sarwar, Peekabox enables food and grocery businesses to sell surplus inventory at discounts ranging from 50 percent to 70 percent. 

The company said the funding will support go-to-market expansion across the UAE, with plans to scale into wider GCC markets starting with Saudi Arabia.