Fintech, HR Tech and AI Lead the Latest Investment Wave in MENA
Riyadh — Investors continued backing Middle Eastern startups this week, with fintech, employment technology, and property tech attracting the largest deals.
Arib, a Saudi digital financing marketplace, raised $23.5 million in a round led by Merak Capital. The company connects users with banks and licensed lenders through a single platform. The funding will expand its technology infrastructure and launch new financing products for consumers and businesses.
RemotePass, a UAE‑founded global payroll platform, secured $17.4 million in a Series B round led by EBRD Venture Capital. The company supports more than 35,000 workers across 150 countries and has facilitated over $800 million in cross‑border payroll. The funds will fuel expansion into Europe and the US.
JCIF launched a $70.5 million scale‑up fund, Manara Ventures, to back Jordanian technology startups. The fund has backing from Abu Dhabi’s Lunate and plans to invest in more than 20 growth‑stage companies.
Other notable deals included: Swedish sports tech firm PlayReplay raised $12 million to expand into Saudi Arabia, the UAE, Qatar, and Egypt. Egyptian mobility startup ARRW secured $4 million from Tasheed Egypt. UAE‑based surplus food marketplace Peekabox raised $1.5 million to grow across the GCC.
The activity underscores sustained investor confidence in the region’s digital economy, despite ongoing geopolitical tensions.
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