Technology news and insights in the Middle East, South Asia, and Africa
Technology News and insights in the Middle East, South Asia, and Africa
Munify has raised $3M in seed funding led by Y Combinator to expand its cross-border digital banking services for Egyptians abroad. The fintech aims to reduce remittance costs, improve access to global banking, and strengthen financial inclusion for expatriates.
Cairo-based fintech Munify has raised $3M in a Y Combinator–led seed round to expand its cross-border digital banking platform for Egyptians abroad. Offering instant remittances, U.S. bank accounts, debit cards, and currency-hedging tools, Munify plans to scale teams, partnerships, and market presence after graduating from YC’s Summer 2025 batch.
Sheba Joy, a Riyadh-based gaming studio, has raised $293K in pre-seed funding led by Merak Capital. The funds will fuel expansion, new game launches, and talent acquisition as the company aligns with Saudi Arabia’s Vision 2030 goal of becoming a global gaming hub.
MENA startup funding hit $783M in July 2025, surpassing last year’s total in just seven months. Saudi Arabia and the UAE dominated with two unicorns—Ninja and XPANCEO—while Iraq and Morocco surprised with breakout deals. Deeptech and e-commerce led sector growth, but the gender funding gap remains severe.
Holo has raised $22M in Series A funding, led by Impact46 and backed by Mubadala and others, to expand its mortgage fintech platform in the UAE and Saudi Arabia. The company aims to simplify homeownership with 500+ mortgage products, regional talent growth, and stronger product innovation.
Jahez has secured a USD 40 million Shariah-compliant facility from NBB to finance its new headquarters. The company’s Q2 2025 profit fell 22% due to weaker EBITDA and higher depreciation. Meanwhile, Jahez expanded its regional footprint with a USD 245 million acquisition of Qatar’s Snoonu.
Saudi’s Gathern raised $72M in Series B funding led by PIF-owned Sanabil Investments, reaching a $266M valuation. The platform manages 72,000 units across 200+ Saudi cities, contributing SAR 2B to the local economy. The funds will drive regional expansion, inbound tourism, long-term stays, and AI solutions, with a Tadawul listing on the horizon.
Suplyd has raised $2M in pre-Series A funding to accelerate its restaurant procurement platform in Egypt. The startup, now serving 5,000+ restaurants, streamlines fragmented supply chains with tech-driven solutions. Investors see Suplyd as a category-defining player in Egypt’s $10B+ HORECA market.
Fahy Studios has secured $1.75 million from Impact46 and Merak Capital to expand its hybrid-casual mobile game development pipeline, including titles RAWR, Footy Traps, and Heist Party. Backed by Saudi’s booming gaming ecosystem, the studio aims to deliver globally competitive games while positioning the Kingdom as a gaming powerhouse.
Impact46 invests $6.6M in diverse MENA gaming studios, supporting Saudi Arabia’s vision to become a global gaming leader through culturally rich and innovative digital content.