Startup Wrap: MENA startups attract fresh funding across fintech, HR tech and AI sectors

Startups across the Middle East and North Africa continued to secure fresh capital this week, with notable raises in fintech, human-resources technology and sports tech. Saudi digital financing marketplace Arib closed a $23.5 million round led by Merak Capital that included Shariah‑compliant Murabaha financing facilities, while UAE‑founded RemotePass raised $17.4 million in a Series B led by EBRD Venture Capital. Other deals included a $70.5 million Jordan-focused scale‑up fund, a $12 million raise for Swedish sports tech PlayReplay, a $4 million investment into Egyptian ride‑hailer ARRW, a six‑figure injection into Tunisian insurtech EYST, and the $657,000 acquisition of Startup Gate by GrowthLabs.

“This round is about acceleration,” said Kamal Reggad, CEO and co‑founder of RemotePass, summing up the company’s ambitions after its Series B.

Details

• Arib — $23.5 million: Founded in 2018 by Omar Al‑Hammad, Mohamed Dessouky and Waleed Talat, Arib operates a financing marketplace that connects customers with banks and licensed lenders through a single digital platform. The company said the funding, led by Merak Capital, will support expansion of its technology infrastructure, accelerate product development, strengthen operations and launch new financing products for consumers and businesses amid rising demand for faster, flexible financing solutions in Saudi Arabia.
• RemotePass — $17.4 million Series B: Led by EBRD Venture Capital with participation from 500 Global and existing backers including Oraseya Capital, 212 VC, Access Bridge Ventures and Khwarizmi Ventures, RemotePass — founded in 2021 — provides payroll, contractor management and workforce payments across markets. The company supports more than 35,000 workers across over 150 countries and has facilitated more than $800 million in cross‑border payroll. RemotePass said the funds will drive expansion into Europe and the US, bolster compliance coverage and continue investment in embedded financial products and AI capabilities, including its recently launched SpendCards and AI agents for onboarding and support.
• Manara Ventures (JCIF) — $70.5 million: Jordan Capital and Investment Fund launched Manara Ventures, a $70.5 million scale‑up fund focused on Jordanian technology and innovation‑driven startups. Backed by regional institutional investors including Abu Dhabi’s Lunate and established as a fully Shariah‑compliant platform in Abu Dhabi Global Market, Manara plans cheque sizes from $750,000 to $3 million and has reserved capital to support up to 15 high‑performing startups pursuing regional expansion.
• PlayReplay — $12 million: Swedish sports tech PlayReplay, founded by Hans Lundstam and Mattias Hanqvist, raised $12 million in a round led by Alfven & Didrikson with a syndicate including Center Court Capital and others. The company, which builds AI systems for racquet sports, plans to expand into MENA with Saudi Arabia, the UAE, Qatar and Egypt identified as priority markets and has partnered with Soderhub for regional partnerships.
• ARRW — $4 million: Egypt’s ARRW, founded by Ahmed Taalab and described as the country’s first licensed ride‑hailing platform, secured $4 million from Tasheed Egypt to expand its driver network, strengthen technical infrastructure and improve user experience.
• EYST Technology — six‑figure investment: Tunisian insurtech EYST, founded in 2022 by Marwen Amamou, Antoine Vanoverberghe and Arnaud Brodzki, raised a six‑figure investment from 216 Capital. EYST’s SaaS platform enables insurers to settle claims instantly using virtual bank cards; the funding will support product development, sales and data hires and international expansion across Europe, the US, the Middle East, South America and Asia.
• GrowthLabs acquires Startup Gate — $657,000: Egypt‑based GrowthLabs, founded by Islam Mohamed, acquired founder and investor network Startup Gate for $657,000 in a deal facilitated by M‑Empire. The acquisition will integrate Startup Gate’s network into GrowthLabs’ Catalyst OS to create a unified digital infrastructure for entrepreneurship and startup support; GrowthLabs says it has supported more than 5,000 startups to date.

Outlook: The wave of deals highlights targeted capital deployment across niches from digital lending and payroll infrastructure to insurtech and mobility. Investors signaled appetite for both regional scale plays and sector‑specific technologies — with several companies earmarking funds to accelerate product development, geographic expansion and compliance and AI capabilities that underpin cross‑border operations.