Startup Wrap: MENA startups attract fresh funding across fintech, HR tech and AI sectors
RIYADH: Startups across the Middle East and North Africa continued attracting investor interest this week, with companies operating in fintech, employment technology, property tech.
Saudi digital financing marketplace Arib raised $23.5 million in a funding round led by Merak Capital as the company looks to expand its platform and strengthen its position within Saudi Arabia’s growing fintech sector.
The round included Shariah-compliant Murabaha financing facilities, highlighting continued investor appetite for Islamic fintech products and digital lending infrastructure across the Kingdom.
Founded in 2018 by Omar Al-Hammad, Mohamed Dessouky, and Waleed Talat, Arib operates a financing marketplace that connects users with banks and licensed lenders through a single digital platform.
