RIYADH: Startups across the Middle East and North Africa are raising fresh funding to scale operations, enter new markets, and develop innovative products, signaling strong investor interest in sectors including fintech, AI, gaming, e-commerce, and proptech.
Intella, a Saudi-headquartered AI startup originally founded in Egypt, has raised $12.5 million in a Series A round led by Prosus, with participation from 500 Global, Wa’ed Ventures, Hala Ventures, Idrisi Ventures, and HearstLab.
The latest round brings Intella’s total funding to $16.9 million.
Co-founded in 2021 by Nour Al-Taher and Omar Mansour, Intella develops AI models tailored to Arabic dialects, offering transcription, analytics, and customer engagement tools.
The funding will support both regional expansion and product development.
“From day one, our vision has been to bridge the gap between global AI advancements and the Arabic-speaking world,” said Al-Taher.
“This funding from Prosus, a powerhouse investor with deep operational expertise, is a testament to the technology we’ve built and the market leadership we’ve established.”
Sheba Joy gets $293k pre-seed
Saudi Arabia-based mobile gaming studio Sheba Joy has secured $293,000 in pre-seed funding, led by Merak Capital. Founded in 2021 by Ebrahim Al-Hussam and Faisal Aidaros, the company recently moved its headquarters from Dubai to Riyadh, while maintaining offices in Dubai and a creative hub in India.
The studio has already published two titles and plans to launch four additional games in 2025.
The new capital will support production scale-up, hiring, and development of games that align with Saudi Arabia’s Vision 2030.
“With Merak Capital’s support, we are scaling our operations in Riyadh to deliver world-class titles that can compete internationally and contribute to Saudi Arabia’s vision of becoming a global gaming powerhouse,” said Al-Hussam, CEO of Sheba Joy.
Seraya secures $1.8m seed
UAE-based proptech startup Seraya has raised $1.8 million in seed funding through a mix of equity and debt, bringing its total funding to $2.15 million.
The round was led by a Saudi family office and Germany’s DLL.
Founded in 2024 by Pepijn Haima and Ibrahim Shami, Seraya offers design-focused, fully serviced apartments targeting the premium wellness travel segment.
The startup plans to expand its portfolio to 50 units by the end of 2025. “We’re building something intentional,” said Haima.
“Seraya is designed for the modern traveler, people seeking calm, comfort, and care while on the move. Our model gives us total control, from the materials we use to the experience we deliver,” Haima added.
“That’s how we’ve scaled profitably, and how we’ll build a global brand for premium serviced accommodation.”
Munify raises $3m
Egypt-based fintech Munify has raised a $3 million seed round led by Y Combinator, with participation from BYLD and Digital Currency Group.
The company, founded in 2024 by Khalid Ashmawy, provides low-cost money transfers to Egypt, along with services such as US bank account opening, debit card issuance, and foreign exchange hedging.
Khalid Ashmawy, founder of Munify. Supplied
The funding will accelerate product development, compliance infrastructure, and expansion into new markets.
“Remittance flows are one of the most critical financial lifelines for Egypt, yet millions still face costly, slow, and fragmented services,” said Ashmawy.
“We’re building the infrastructure to make global banking and payments radically more accessible for Egyptians, wherever they live.”
WheelsOn secures funds
UAE-based car rental startup WheelsOn has raised $12.5 million in a mix of equity and debt funding.
The round includes $2.2 million in equity from MENA-focused private investors, $6.5 million for fleet expansion, and $4 million in bank financing.
Founded in 2023 by Nikolay Melnichuk, Adlet Shagirov, and Maxim Olivson, WheelsOn operates a fully digital, deposit-free car rental platform.
The company plans to invest in fleet growth, AI-powered features such as dynamic pricing and personalized recommendations, and contactless rental technologies.
“Our mission is to rethink car rentals by offering full transparency, digital convenience, and a product that puts users in control,” said Olivson, chief product officer.
Addvocate.AI wins 216 Capital backing
Tunisia- and France-based Addvocate.AI has secured a strategic investment from VC firm 216 Capital to scale its AI-driven sales performance platform.
Founded in 2024 by Ridha Mami and Sofyan Chekir, the company offers a “Sales Performance OS” that acts as a digital copilot for sales teams, enhancing productivity with AI-native tools, behavioral nudges, and data insights.
Addvocate.AI aims to address pipeline stagnation, which affects up to half of sales opportunities globally.
With this investment, the company will accelerate product development and pursue international expansion.
“With the support of 216 Capital, we are equipped to stay ahead, breaking through the limits of traditional CRM and delivering a solution built for impact, not for data entry,” said Mami.
Justyol secures $1m
Morocco-based fashion e-commerce platform Justyol has secured a $1 million funding package comprising $400,000 in equity from an angel investor and $600,000 in inventory financing from Turkish firm Danis Group.
Founded in 2022 by Ahmed Badran, Ahmed Rashed, and Anas Ahmed, Justyol connects Turkish fashion brands to MENA markets.
The new capital will support expansion in Morocco, deepen market presence, and prepare for a future series A round.
Basata plans $7m regional expansion
Egypt’s Basata Holding for Financial Payments has announced plans to invest $7 million in 2026 to strengthen its market position and drive regional growth.
The company is currently evaluating acquisition targets, with decisions expected before year-end.
Basata is also preparing to launch new investment services in collaboration with affiliated entities, subject to regulatory approvals.
Through its stake in Jordan’s Madfoatcom, the firm aims to enter Saudi Arabia before year end, with further expansion plans into Morocco and Kurdistan.
Formed through the 2009 merger of Masary and Bee, Basata, formerly Ebtikar, specializes in e-payment solutions, including bill payments, mobile money, and supply chain services.
QIA joins Anthropic’s $13bn Series F
Qatar Investment Authority has joined Anthropic’s $13 billion series F funding round, alongside prominent investors including ICONIQ, Fidelity, and Lightspeed Venture Partners.
The funding will support Anthropic’s enterprise-scale capabilities, expand international operations, and accelerate its research into AI safety.
Founded in 2021, Anthropic is the developer of Claude, a family of AI models designed to prioritize reliability, interpretability, and steerability.
The company’s stated mission is to build safe and aligned AI systems for large-scale commercial and institutional use.
