RIYADH: Startups across the Middle East and North Africa witnessed multiple funding rounds throughout the past week, as firms across a range of industries seek geographical expansion.
The moves come in the light of a new report from regional venture platform MAGNiTT showing Saudi Arabia led funding activity in the region in the first half of 2025, raising $860 million — a 116 percent annual jump — backed by sovereign support and foreign interest.
The report added that the Kingdom also witnessed 114 deals in the first half of the year, marking a significant 31 percent rise compared to the same period in 2024.
Wittify.ai secures $1.5 million in pre-seed round
Wittify.ai, a Saudi Arabia-based conversational AI startup, raised $1.5 million in a pre-seed funding round, from a syndicate of angel investors from the Kingdom.
The funding will be used to accelerate the company’s product development, as well as expanding its operations in the region.
Headquartered in Riyadh, the firm aims to develop interactive Arabic AI agents that can listen, act, and integrate across systems.
“We’re building Arabic-first, human-level AI to transform customer engagement,” the company said in a statement.
Yasmina closes $2 million seed round
Saudi Arabia-based Yasmina, an embedded insurance platform, has secured $2 million in seed funding to expand insurance tech across the Middle East and North Africa.
The concept of so called insurtech refers to transforming and modernizing the traditional insurance sector, revolutionizing how policies are created, underwritten, and managed.
Saudi Arabia- based Yasmina, an embedded insurance platform, has secured $2 million in seed funding to expand insurance tech. (Supplied)
It also promotes greater customer engagement by offering personalized insurance products based on individual risk profiles and lifestyle choices.
Yasmina’s seed funding round was led by Scene Holding and co-led by Access Bridge Ventures, with participation from Arzan VC and Sanabil Investment Accelerator by 500 MENA.
The financing will be used to expand the team and explore opportunities in other regions, with the company planning to launch operations in the UAE later this year and in Egypt by 2026.
“This round is a strong vote of confidence in our vision to simplify insurance across digital touchpoints. We’re proud to be the first embedded insurance platform in Saudi Arabia, and this funding will help us scale faster, serve more partners, and redefine how protection is offered in the region,” said Masoud Alhelou, CEO and co-founder of Yasmina.
Egypt’s PALM raises 7-figure funding
PALM, an Egypt-based fintech startup offering incentivized goal-based saving, has closed its pre-seed seven-figure funding round, led by 4DX Ventures with participation from Plus VC and several international angel investors.
In a press statement, the company said that the funding will be used to focus on accelerating user acquisition, expanding its product use cases, and strengthening its network of strategic partners.
“We’re incredibly grateful to our investors for their trust and belief in PALM’s vision. Their support empowers us to accelerate our mission of transforming how Egyptians save and achieve their life goals,” said Mazen El-Kerdany, co-founder and CEO of PALM.
He added: “We launched PALM to help Egyptians take control of their financial future by turning gradual saving into a smarter, more rewarding habit.”
PALM is a goal-based saving company that offers personalized saving experience to help users achieve their various goals of life, whether to fund basic needs such as education and healthcare, or afford their funding needs for travel, home appliances and electronics.
Ahmed Ashour, co-founder of PALM, said: “We will offer Egyptians a modern saving experience that caters to their lifestyle needs, aligns with their interests, and helps them along their financial journeys regardless of their income levels or assets.”
Morocco’s Ora Technologies raises $7.5 million
Ora Technologies, a Morocco-based super app, has raised $7.5 million in a series A funding round, led by Azur Innovation Fund and a group of local investors.
Through the funding, the company aims to expand its delivery network and strengthen the firm’s logistics capability.
Morocco-based super app Ora Technologies has raised $7.5 million in a series A funding round. (Supplied)
It will be also used to grow its user base, expansion into new regions, as well as accelerating the adoption of its digital payment solution.
“This is more than funding, it is proof that Morocco is ready to back innovation made by and for its people,” said Omar Alami, founder and CEO of Ora Technologies.
Founded in 2023, the app offers multiple features, including an e-commerce platform, on-demand services, chat functionality, social networking, and a digital platform which is expected to be launched soon.
Telr partners with Peko to support business setup in UAE
Telr, a digital payment gateway and financial solutions provider based in Dubai, has partnered with fintech firm Peko to launch Telr Incepta, a platform aimed at supporting business setup and operations in the UAE.
According to a press statement, Telr Incepta is expected to empower small- and mid-sized businesses with advanced tools that transform the way businesses manage their finances and operations.
Digital payment gateway Telr has partnered with Peko to launch Telr Incepta, a platform aimed at supporting business setup and operations in the UAE. (Supplied)
With over 50 business services, Telr Incepta centralizes essential functions, from enabling investors and entrepreneurs to set up their new companies in the UAE to helping companies streamline operations, manage expenses, and gain full financial visibility.
“At Telr, our mission has always been to simplify digital commerce and equip entrepreneurs with everything they need to succeed,” said Khalil Alami, founder and CEO of Telr.
He added: “With Telr Incepta, we’re taking that mission even further. From secure payments to setting up your business in the UAE to smart business tools, we’re proud to be the one-stop shop for the UAE’s e-commerce ecosystem.”
The platform also offers other features including bill payments, human resources tools, corporate travel arrangements, eSIM services, software subscriptions, license renewals, as well as, WhatsApp for Business integration, and automated financial reporting.
Kashif Khan, founder and CEO of Peko said: “From setting up a company to managing payments, controlling expenses, and streamlining operations, we’re empowering founders with world-class tools to build boldly from day one.”
