In a record-breaking September 2025, startup investment in the Middle East and North Africa (MENA) surged to $3.5 billion across 74 deals, marking a significant rebound from the previous month. Even excluding $2.6 billion in debt financing, equity funding alone saw impressive growth. Saudi Arabia was at the forefront, driven by major fintech deals, including Tamara’s $2.4 billion debt facility and Hala’s $157 million Series B. The UAE followed with $704.3 million raised by 26 startups, while Oman and Morocco trailed behind. Fintech dominated the sector, with $2.8 billion in investments, while proptech and AI also saw substantial funding. Early-stage startups led in deal volume, though later-stage ventures attracted more capital. B2B2C models emerged as the most successful, capturing $2.4 billion. However, a gender gap persisted, with male-founded startups receiving the majority of funding. The third quarter of 2025 closed with $4.5 billion raised, highlighting the region’s growing appeal to investors despite ongoing challenges. If this trend continues, 2025 could set a new funding record for MENA.
How did MENA startup funding reach $3.5 billion in September 2025?
