FWDstart

@QanooniAI , a UAE-based legal tech startup, raised $2M in a pre-seed round from Salica Investments, Village Global, Oryx Fund, TA Ventures, and angel investors. Founded in 2024, Qanooni uses AI to enhance legal workflows. Funds will support expansion into the UAE & UK. 🚀 #legaltech #mena #startupfunding #uaeinnovation #legalinnovation

South Korea’s AI semiconductor startup Rebellions has established a new unit in Riyadh to expand its operations and supply Aramco’s AI data centres, deepening ties with the Kingdom as demand for sovereign AI infrastructure accelerates. The move follows a $14.4 million investment from Wa’ed Ventures, the venture arm of Aramco, and ongoing collaborations on customised semiconductor solutions tailored to Saudi needs. The Riyadh hub will act as an operational base to deliver Rebellions’ 5nm neural processing unit (NPU) products while also exploring partnerships with Saudi telecom and IT firms. “The establishment of a Saudi unit will be the starting point for our vision to keep up with rising demand for sovereign AI in the region,” said Rebellions CEO Park Sung-hyun. 📌 Full store here: fwdstart.me/p/rebellions-e…

Riyadh-based @FahyStudios has secured $1.75 million in investment from @impact_46 and @MerakCapital to accelerate production of hybrid-casual mobile titles and expand its pipeline of global-facing games. Founded in 2023 by Hani Hashem, Owis Alsaour, and Fahad Al-Shibl, Fahy has quickly emerged from NEOM’s LevelUp accelerator program and inked a publishing partnership with UK-based Kwalee. The studio is currently developing multiple titles, including RAWR, a monster-collecting RPG; Footy Traps, a PvP football strategy game; and Heist Party, a multiplayer heist action game. 📌 Read the full story here: lnkd.in/gvTm7WYT

.@RobinhoodApp is preparing to launch operations in Dubai, with filings showing the U.S. neobroker has applied for a Category 4 license from the Dubai Financial Services Authority (DFSA). The move will allow it to onboard clients in the UAE and across the wider MENA region from offices in the Dubai International Financial Centre (DIFC). The company has begun hiring locally, bringing on former Equiti Group and Saxo Bank executive Mario A. Camara as Senior Executive Officer of its new MENA unit. A formal announcement is expected in the coming weeks. Robinhood’s entry adds to an increasingly competitive regional wealth-tech landscape, where homegrown platforms such as Sarwa, baraka, and Egypt’s Thndr have built strong positions with millions of users and regulatory footholds. 📌 Read the full story here: lnkd.in/gPqPzXq4

The Dubai Virtual Assets Regulatory Authority [@varadubai] has fined Morpheus Software Technology FZE, better known as @fuzefinance, for shortcomings in its anti-money laundering program and for conducting unlicensed virtual asset activity. According to a notice on VARA’s website, the regulator found that Fuze’s AML governance, compliance systems, and internal controls were deficient. VARA also said the company breached its license conditions by intentionally carrying out unlicensed activity and failing to disclose those facts. Backed by ADQ-linked Further Ventures Fuze has been one of the fastest-growing digital asset infrastructure firms in the region. It raised a $14 million seed round in 2023 and a $12.2 million Series A in May 2025 led by Galaxy, making it one of the best-funded startups in the Middle East crypto sector. 📌 Read the full story here: fwdstart.me/p/dubai-s-vara…

Pakistani fintech @abhikaropk has launched its earned wage access platform in Saudi Arabia, its second Middle Eastern market after the UAE, per MENABytes. The rollout follows a strategic partnership announced last year with Alraedah Digital Solutions that committed $200 million over three years to develop localised financial products for the Kingdom. Abhi’s app lets employees access already earned wages in about 30 seconds, removing the monthly salary cycle. Workers can withdraw portions of accrued pay any day of the month, with funds sent to bank accounts or digital wallets. Founded in 2021 by Omair Ansari and Ali Ladhubhai, the Y Combinator-backed startup says it has processed hundreds of millions of dollars in loan value and serves more than 750,000 employees through partnerships with over 1,000 companies across markets. 📌 Read the full story here: fwdstart.me/p/pakistan-abh…

Dubai‑based spend management platform Alaan الآن has raised $48M in a heavily oversubscribed Series A, one of the largest early‑stage fintech rounds in the MENA region to date. The round was led by Peak XV Partners (formerly Sequoia Capital India & SEA) with participation from 885 Capital founders Sudeep R. and Jai Mahtani, Y Combinator, 468 Capital, and Pioneer Fund. As well as a roster of prominent regional founders and operators, including: Hosam Arab (Founder, Tabby), Mudassir Sheikha (Founder, Careem), Jeppe Rindom (Founder, Pleo), Khalid Al Ameri (Founder & Creator), Abdallah Abu-Sheikh (Founder, Astra Tech), Yi-Wei Ang (CPO, talabat), Parth Garg, Omar Kassim, Shail Kaveti, and others. Both primary and secondary components were included in the raise. Founded in 2022 by ex‑McKinsey consultants Parthi Duraisamy and Karun Kurien, Alaan is positioning itself as the MENA category leader in AI‑powered corporate spend and finance automation. Its platform combines corporate cards with embedded AI finance agents that automate reconciliation, VAT extraction, receipt matching, and expense categorisation. The company says it has already saved finance teams 1.5M+ hours of manual work, processed over 2.5M transactions, and is used by 1,500+ companies including G42, Careem, Lulu Group, Rivoli, and Tabby. 📌 Read the full story: fwdstart.me/p/dubai-based-…

Jadwa Investment has committed $45 million to PetroApp | بتروآب, a Saudi digital fuel payment and fleet management platform, as part of a $50 million round that also included Abu Dhabi-based Bunat Ventures. Founded in 2018 by Abdulaziz Alsenan, PetroApp offers digital fuel payment and fleet management solutions that eliminate cash transactions, reduce fraud, and improve cost control for corporate and government fleets. Beyond fuel payments, the platform provides services such as car washes, oil changes, and tire and battery replacements. It now manages more than 500,000 vehicles for over 10,000 corporate clients, operating across 5,000 fuel stations in Saudi Arabia, Egypt, Thailand, and Nigeria. PetroApp previously raised an undisclosed Seed round in 2019 from Riyadh-based RZM Investment, a family-owned Saudi firm founded in 2008 that backs early-stage ventures across healthcare, education and information-technology sectors. PetroApp recently received accreditation from Saudi Arabia’s Expenditure and Projects Efficiency Authority (EXPRO) as a qualified provider for government sector services, and plans to expand into retail offerings within Saudi Arabia. The company is targeting a public listing on the Saudi Exchange’s Main Market by 2028.

@InovatApp, a France-based fintech company, has secured investment from Emirati VC firm AngelSpark to simplify VAT refunds for travelers. With digital solutions integrated into banking and travel apps, users can now claim VAT refunds quickly by uploading receipts. This investment will fuel Inovat's global expansion and enhance the travel experience. #Fintech #MENA #Investment #TravelTech #VC

Super Capital, a top European business angel network, is expanding into the Middle East and Africa (MEA). In partnership with Axel Peyriere, co-founder of AUTO24.africa, Super Capital aims to mirror its success by investing €100k-€250k in up to 10 startups annually across sectors like fintech, logistics, SaaS, healthtech, and mobility. Since 2019, the network has invested over €30M in 150+ European startups.🚀 #MENAstartups #VentureCapital #TechInvesting #FintechGrowth #SaaSInnovation

@NovaTalent_, a European HR tech platform founded in 2020 by Andrea Marino, Ramon Rodriguez, and Lars Henrik Friis Molin, has raised $3.65 million in a round led by MENA-based BY Venture Partners and CDP Venture Capital, with participation from Doha Tech Angels. The funds will support its expansion into European capitals, improve its matching algorithm, and enhance Nova Recruiter as a LinkedIn alternative. 🚀 #HRTech #TalentAcquisition #StartupFunding #TechInnovation #RecruitmentSolutions

UAE's MealPlanet, a foodtech platform aggregating 100+ meal plan providers, raised $6M in Seed funding! 🚀 Led by MEVP, AlTouq Group, 500 Global & more. Founded by Khalid Baareh, MealPlanet aims to expand across MENA, starting with Saudi in Q1 2025. #uae #foodtech #vcfunding

📈 VD facilities were 50 times their 2020 level, with Saudi Arabia, the UAE, and Egypt leading. 🇸🇦 SA captured $400M, 53% of the region's VD. FinTech startups like Tabby and Tamara drove this growth. 🐢 Get more at: archives.fwdstart.me/subscribe

🌍 ASF has partnered with national energy companies to launch the “Future of Energy Fund” to support and co-finance projects by Algerian startups in the energy and mining sectors. 🐢 Get more MENA start-up and tech stories, direct to your inbox: lnkd.in/e6ihCpQr

UAE based private equity firm TVM Capital Healthcare has closed a $250m Saudi Afiyah Fund LP led by JADA fund of funds with Saudi, GCC, and European investors. 🐢 Sign up to get more MENA startup, VC, and tech stories, interviews, and deep-dives at archives.fwdstart.me/subscribe

⛓️ Heard of @TakafulDao yet - the unique Saudi fintech startup? Well Silicon Valley investor @TimDraper (Baidu, Skype, and Hotmail) has and led the $1.6m pre-seed round! 🐢 Read more here and make sure to subscribe: fwdstart.me/news/saudi-fin…  #mena #fintech #blockchain #VC

Zest Equity are providing a digital solution that streamlines the once-tedious realm of private market investment processes. 🐢 Read the article here and subscribe for more: fwdstart.me/news/3-8m-for-… #mena #tech #privatemarketinvestments #VC