RIYADH: Startup funding in the Middle East and North Africa region posted an annual rise of 395 percent in October, indicating ongoing investor confidence, according to Wamda’s monthly report.
The $784.9 million secured across the month did however mark a 77 percent decline from September’s $3.5 billion high.
Debt financing continued to dominate in October, accounting for $567.8 million— or 72 percent — of total funding through four deals. Equity and other investment instruments collectively raised $217 million.
The figures highlight an increasing reliance on debt capital, particularly among late-stage and capital-intensive startups.
The UAE led in total funding, securing $615.7 million across 15 deals, driven largely by Property Finder’s $525 million debt raise.
