RIYADH: Saudi Arabia led startup activity across the Middle East and North Africa this week, with several companies securing fresh investments in fintech, healthcare technology, logistics, and AI-powered business solutions. The wave of funding highlights the Kingdom’s growing influence as a regional innovation and venture capital hub.
The largest investment came from Saudi fintech startup Stitch, which raised $25 million in a Series A funding round led by Andreessen Horowitz (a16z). The deal marked the first investment by the Silicon Valley venture capital giant in the Gulf Cooperation Council region.
Founded in 2022 by Mohamed Oueida, Stitch develops a cloud-native operating system for financial institutions, offering services that include lending, card issuance, payments, and digital ledgers. The company reported processing more than $5 billion in transactions during the last six months while expanding its customer base tenfold in 2025.
The funding round also attracted participation from Arbor Ventures, COTU Ventures, Raed Ventures, and SVC. Stitch plans to use the new capital to enhance its product offerings, accelerate expansion across the MENA region, and strengthen its international market presence. The latest round follows the company’s earlier $10 million seed funding secured last year.
TruKKer Secures Major Financing Facility
Digital freight platform TruKKer announced one of the region’s most significant logistics financing deals after securing a trade receivables securitization facility worth up to $300 million from Abu Dhabi Commercial Bank.
Founded in 2016 by Gaurav Biswas, TruKKer operates an AI-powered freight and logistics network across the Middle East and Central Asia. The financing structure, backed by trade receivables in the UAE, Saudi Arabia, and Turkiye, represents one of the GCC’s first multi-country asset-backed securitization deals designed for a fast-growing technology startup.
The company stated that the facility will help expand its freight network, improve carrier optimization, and support continued regional growth.
Health Tech Firms Continue to Attract Investors
Saudi-based health tech company Aumet raised $12 million in a Series A round led by Emkan Capital. Investors including Qatar Development Bank, SABAH VC, AAIC, Shorooq Partners, and Right Side Capital Management also participated in the deal.
Established in 2016 by Yahya Aqel, Adel Haddad, and Shahed Jaber, Aumet provides an AI-driven procurement operating system for pharmacies and healthcare providers. The startup intends to use the funding to scale its AI technologies, expand enterprise deployments, and grow across GCC and global markets.
Meanwhile, Hakeem Health secured $1.65 million in a funding round led by Merak Capital with support from Sanabil 500. Founded in 2022 by Bilal Adi and Mohammed Ayyad, the company offers SaaS healthcare solutions through its HakeemDx platform, which delivers bilingual clinical guidance integrated directly into hospital systems.
The company said the investment will help expand the adoption of its technology throughout GCC healthcare institutions.
Stream and Gabster Expand Saudi Fintech and AI Ecosystem
Saudi fintech startup Stream raised a $5.2 million seed extension round led by BECO Capital, alongside investors including STV, Flourish Ventures, Arab Bank, Outliers, and BYLD.
Founded in 2024 by Ibrahim Al-Dlaigan, Stream provides payment and billing infrastructure services for businesses operating across MENA markets. The latest investment increases the company’s total seed funding to $9.2 million in less than six months.
In the business operations sector, Saudi startup Gabster secured a $500,000 pre-seed investment from RAI and T2. Founded in 2024 by Ibrahim Ali, the company is building an AI-powered management platform that combines more than 10 communication channels, including WhatsApp, Instagram, Telegram, email, and live chat into a unified system.
Gabster plans to use the funding to enhance AI integration and improve operational efficiency for businesses across Saudi Arabia.
Regional Startup Ecosystem Continues to Expand
Beyond Saudi Arabia, several regional startups also announced significant developments.
Qatar-based accounting SaaS startup HASIF received backing from Snoonu Startup Factory to accelerate its AI-powered accounting and compliance solutions for SMEs.
In the UAE, cybersecurity startup Lyrie.ai emerged from stealth mode after raising $2 million in pre-seed funding. Developed by OTT Cybersecurity LLC, the platform focuses on protecting autonomous AI agents used in enterprise and government environments.
Egypt-born property technology company Byit expanded into the UAE market following a $1.1 million funding round supported by A15, Beltone Holding, and angel investors. The company also confirmed plans to enter Saudi Arabia as part of its Gulf expansion strategy.
Additionally, Egypt’s Beltone Venture Capital and the UAE’s Citadel International Holdings announced a successful exit from logistics platform Bosta, generating a 75 percent internal rate of return through their joint investment fund.
Saudi Arabia Strengthens Corporate Venture Leadership
A new report by MAGNiTT and stc group revealed that venture investments in the MENA region reached $15.4 billion across 3,329 deals over the past five years. Corporate investors accounted for 12 percent of both total funding value and deal volume.
Saudi Arabia and the UAE dominated corporate-backed investments, representing 86 percent of all corporate venture activity in the region. Saudi Arabia alone accounted for 57 percent of deployed corporate capital, while nearly half of active corporate investors were Saudi-based.
The report emphasized that the concentration of capital in Saudi Arabia and the UAE continues to strengthen the startup ecosystem by supporting stronger deal flow, large-scale innovation, and the growth of regional technology champions.
FAQS
What was the biggest startup funding deal announced this week in Saudi Arabia?
The largest deal was secured by fintech startup Stitch, which raised $25 million in a Series A funding round led by Andreessen Horowitz (a16z).
What does Stitch specialize in?
Stitch develops a cloud-native operating system for financial institutions, offering solutions for payments, lending, cards, and digital ledgers.
How much financing did TruKKer secure?
TruKKer secured a trade receivables securitization facility worth up to $300 million from Abu Dhabi Commercial Bank.
Which sectors attracted the most investments in the region?
Fintech, health tech, logistics, AI-powered business platforms, and cybersecurity were among the most funded sectors.
What is Aumet’s business model?
Aumet provides an AI-powered procurement operating system for healthcare providers and pharmacies.
Why is Saudi Arabia becoming a startup hub in MENA?
Saudi Arabia is attracting major venture capital investments, supporting innovation through policy initiatives, and fostering a rapidly growing digital economy.
What did the MAGNiTT and stc group report reveal?
The report showed that MENA venture investments reached $15.4 billion over five years, with Saudi Arabia and the UAE leading corporate-backed startup activity.
Which Saudi startup focuses on AI-powered business communication management?
Gabster is developing a unified AI-driven platform that integrates multiple communication channels into a single management system.
Conclusion
Saudi Arabia is rapidly cementing its position as one of the leading startup and venture capital destinations in the MENA region. From fintech and logistics to healthcare and AI-driven platforms, the Kingdom is attracting global investors and nurturing innovative startups capable of scaling internationally. The latest funding rounds and strategic expansions reflect growing investor confidence in Saudi Arabia’s digital economy and entrepreneurial ecosystem. As venture activity continues to rise, the country is expected to play an even greater role in shaping the future of technology and innovation across the Middle East.
