MENA’s Top 50
Most Funded-Startups
The 50 most-funded startups in MENA raised a total of $3.2 billion in 2022. Meet the entrepreneurs inspiring investors.
Despite the global economic downturn, startups in MENA have continued to attract significant funding in 2022, with a total of $3.2 billion raised by the 50 most-funded startups, compared to $3 billion in 2021.
Fintechs reign this year, with 21 companies attracting $1.3 billion in total funding, followed by 10 e-commerce players with $576.7 million, four delivery and mobility startups with $299.6 million, and three logistics firms with $292 million.
The U.A.E. is the most represented country, with 18 startups raising $964 million in total funding. Saudi Arabia follows with 12 startups raising $946.7 million, and Egypt with 11 startups raising $508.5 million.
U.A.E.-based agri-tech business Pure Harvest Smart Farms tops the 2022 list, having raised $387 million in total funding, followed by buy now, pay later Fintechs Tabby and Tamara, which secured $275 million and $216 million, respectively. Ride-hailing, delivery and payment platform Yassir became the most-funded startup in North Africa after securing $150 million this year, bringing its total funding to date to $193.25 million.
While new startups emerge amid the global turmoil, others have witnessed downfalls. For example, Egyptian B2B e-commerce platform Capiter, which raised more than $33 million over a year ago, has been hitting headlines in Egypt since the cofounders of the cash-strapped company were dismissed by its investors in September 2022. Other startups have experienced cost-cuts and layoffs, including Brimore—which raised $25 million earlier this year yet said later it will be restructuring and cutting costs—and Swvl.
Sky Kurtz, Mahmoud Adi, Robert Kupstas
Hosam Arab, Daniil Barkalov
Abdulmajeed Alsukhan, Turki Bin Zarah, Abdulmohsen Albabtain
Gaurav Biswas, Pradeep Mallavarapu
Noureddine Tayebi
Abdullah Almoaiqel, Yehia Badawy, Adam Nelson, Joseph Dallago
Mohammed Aldossary, Khaled Alsiari
Belal El Megharbel, Mohamed Ben Halim
Sami Alhelwah
Islam Shawky, Alain El Hajj, Mostafa Menessy
Tariq Sheikh, Dani Molina Carmona
Mazen AlDarrab, Sultan AlAsmi
Manfred Meyer, Philip Johnston
Omar Saleh, Ahmed Wagueeh, Fatma El Shenawy, Omar Salah
Omar Hagrass, Ali El Atrash, Pierre Saad, Muhammad El Garem
Ayman Essawy, Momtaz Moussa, Marwan Kenawy
Vilhelm Hedberg
Jad Antoun, Khalid Ashmawy
Muhammad Talha Ansari, Wahaj Ahmed, Muhammad Nowkhaiz.
Marwan Hachem, Anas Zaidan
Maher Loubieh, Esam Alnahdi
Mahmoud Ibrahim, Ibrahim Mohamed
Rita Huang Zhen, Naveen Joseph, Gao Wenli, Nancy Chen
Antti Arponen, Phil Reynolds
Ahmed Wadi
Abdulaziz AlMousa
Hisham Al-Falih, Aditya Sarkar, Ashu Gupta
Ryan Lefers, Mark Tester, Derya Baran
Omar Onsi
Khaled Zaatarah
Jihad El Eit, Fawaz Al Otaibi
Abdulaziz B. Al Loughani, Mohammed Al Arifi
Waleed Sadek
Amr Sultan, Tarek Elsheikh
Anass Boumediene, Mehdi Oudghiri, Abdullah Al Rugaib
Athbi & Nouri Al Enezi, Ahmed Al Morsy
Hamdi Tabbaa, Sabri Hakim, Hussein AlSarabi
Ahmed Alrawi, Moayed Almoayed
Karim Jouini, Jihed Othmani
Fodhil Benturquia
Feras Jalbout, Kunal Taneja
Mark Chahwan, Nadine Mezher, Jad Sayegh
Abdulla Almoayed
Ahmed Sabbah, Youssef Sholqamy
Moayad Alfallaj, Suliman Alfallaj, Thamer Alfallaj, Ayman Alfallaj
Tamim Khalfa, Nael Halwani
Ahmad Hammouda, Seif Amr
Mohamed Al Fayed, Mohamed Hamedi, Omar Rifai
Tarek Kabrit, Andrew Kabrit
Ali Hashemi, Ihsan Almarzooqi
To qualify for the list, startups had to be no more than seven years old. They had to have raised at least $20 million in total funding. Cut off for funding was November 10, 2022. We excluded startups that were acquired or merged, went public, or didn’t provide sufficient information about funding and investors. New entries are marked with an asterisk (*).
Disclaimer: All data given was provided by the startups. Forbes Middle East holds no responsibility for any investment decisions.
To qualify for the list, startups had to be no more than seven years old. They had to have raised at least $20 million in total funding. Cut off for funding was November 10, 2022. We excluded startups that were acquired or merged, went public, or didn’t provide sufficient information about funding and investors. New entries are marked with an asterisk (*).
Disclaimer: All data given was provided by the startups. Forbes Middle East holds no responsibility for any investment decisions.
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