Today's Edition
MAYS IBRAHIM (ABU DHABI)
UAE startups raised $362 million across 13 deals in August, reclaiming the top spot for startup funding in the Middle East and North Africa, according to Wamda, a regional entrepreneurship and venture capital platform.
The UAE overtook Saudi Arabia, which led the regional rankings in July, after MENA startups collectively raised $375 million across 27 deals during the month.
The regional total more than doubled from July and was 11% higher than August 2025, despite the number of deals falling 40% month-on-month.
Two major transactions drove the UAE’s funding total: mobility fintech company Moove’s $250 million Series C round and Fasset’s $68 million Series C.
Moove’s funding round alone accounted for nearly two-thirds of all capital raised across MENA in August, propelling the mobility sector to the top of the regional funding rankings.
Saudi Arabia ranked second, with six startups raising a combined $10.25 million, while Jordan placed third with $2 million from a single transaction. Egypt recorded no startup funding rounds during the month.
The August figures also showed a marked change in the composition of regional funding.
Debt accounted for only about 2% of total capital, down sharply from 56% in July, indicating that the rebound was driven overwhelmingly by equity investment.
The return of large later-stage rounds was another feature of the month, with Moove and Fasset’s Series C transactions together accounting for almost 85% of all capital deployed across MENA.
Early-stage companies continued to account for the majority of deals, with 22 pre-seed, seed and Series A startups raising a combined $38 million across the region.
Business-focused startups remained the largest recipients of capital, attracting $282.5 million across 15 transactions, while business-to-consumer companies raised $87 million across six deals.
