Saudi Arabia emerged as the leading hub for startup funding activity in the Middle East and North Africa during the latest investment cycle, with companies across fintech, health technology, logistics, and business services securing fresh capital. Several Saudi-based startups announced new funding rounds, highlighting the Kingdom’s growing influence in the regional innovation ecosystem. The week’s activity also reflected increasing interest from international investors looking to expand their presence in the Gulf market. 

One of the largest transactions involved Saudi fintech company Stitch, which raised $25 million in a Series A round led by venture capital firm Andreessen Horowitz (a16z). The investment represents a16z’s first deal in the Gulf Cooperation Council region. Founded in 2022 by Mohamed Oueida, Stitch provides a cloud-based operating system for financial institutions and reported processing more than $5 billion in transactions over the past six months. The company plans to use the new funding to accelerate product development and expand across regional and international markets. 

In the logistics sector, digital freight platform TruKKer secured a trade receivables securitization facility of up to $300 million from Abu Dhabi Commercial Bank. The financing covers receivables across the UAE, Saudi Arabia, and Türkiye and is considered one of the GCC’s first multi-jurisdictional asset-backed securitization structures for a high-growth technology company. TruKKer said the facility will support the continued expansion of its AI-powered freight network across the region. 

Health technology companies also attracted significant investor attention. Saudi-based Aumet raised $12 million in a Series A round led by Emkan Capital to strengthen its AI-driven procurement platform for healthcare providers and pharmacies. Meanwhile, Hakeem Health secured $1.65 million to expand the use of its HakeemDx platform, which provides real-time bilingual clinical guidance for healthcare professionals across GCC markets. 

Other notable deals included a $5.2 million seed extension for fintech startup Stream and a $500,000 pre-seed investment in business management platform Gabster. Beyond Saudi Arabia, startup activity remained strong across the region, with investments flowing into companies in Egypt, Qatar, and the UAE. These developments reflect continued confidence in MENA’s startup sector as entrepreneurs attract both regional and international capital. 

A separate report from MAGNiTT and stc group showed that venture investments in MENA reached $15.4 billion across 3,329 deals over the past five years. Saudi Arabia and the UAE accounted for the majority of corporate-backed startup funding, with Saudi firms representing 57 percent of deployed corporate capital. Industry observers believe the concentration of investment and the presence of large corporations will continue to strengthen startup activity throughout the region.