MENA Startups Raise Millions: Latest Funding Rounds Fuel AI, Gaming, Fintech, and E-Commerce Expansion

Intella Raises $12.5 Million in Series A Funding

Intella, an AI startup headquartered in Saudi Arabia and founded in Egypt, has secured $12.5 million in a Series A funding round. The round was led by Prosus, with contributions from 500 Global, Wa’ed Ventures, Hala Ventures, Idrisi Ventures, and HearstLab. This brings Intella’s total funding to $16.9 million.

Founded in 2021 by Nour Al-Taher and Omar Mansour, Intella focuses on AI models that handle Arabic dialects for transcription, analytics, and customer engagement. The funds will accelerate regional expansion and product development.

Al-Taher stated: “From day one, our vision has been to bridge the gap between global AI advancements and the Arabic-speaking world. This funding from Prosus, a powerhouse investor with deep operational expertise, is a testament to the technology we’ve built and the market leadership we’ve established.”

Sheba Joy Secures $293k Pre-Seed Funding

Sheba Joy, a Saudi mobile gaming studio, raised $293,000 in pre-seed funding led by Merak Capital. Founded in 2021 by Ebrahim Al-Hussam and Faisal Aidaros, the company recently shifted its headquarters from Dubai to Riyadh while keeping offices in Dubai and a creative center in India.

The studio has published two games and plans to release four more in 2025. The new capital will support scaling production, hiring, and developing games aligned with Saudi Arabia’s Vision 2030.

CEO Ebrahim Al-Hussam said: “With Merak Capital’s support, we are scaling our operations in Riyadh to deliver world-class titles that can compete internationally and contribute to Saudi Arabia’s vision of becoming a global gaming powerhouse.”

Seraya Raises $1.8 Million Seed Funding

UAE-based proptech startup Seraya secured $1.8 million in seed funding through equity and debt, bringing its total funding to $2.15 million. The round was led by a Saudi family office and Germany’s DLL.

Founded in 2024 by Pepijn Haima and Ibrahim Shami, Seraya offers design-driven, fully serviced apartments focused on the premium wellness travel market. The startup aims to have 50 units by the end of 2025.

Pepijn Haima commented: “We’re building something intentional. Seraya is designed for the modern traveler seeking calm, comfort, and care. Our model gives us total control over materials and experience, enabling profitable scaling and the creation of a global brand for premium serviced accommodation.”

Munify Raises $3 Million Seed Round

Egypt-based fintech Munify raised $3 million in a seed round led by Y Combinator, with participation from BYLD and Digital Currency Group. Founded in 2024 by Khalid Ashmawy, Munify offers low-cost money transfers to Egypt along with US bank account setup, debit cards, and FX hedging.

The funding will accelerate product development, compliance, and market expansion.

Ashmawy explained: “Remittance flows are critical for Egypt, yet many face costly and slow services. We’re building infrastructure to make global banking and payments more accessible for Egyptians worldwide.”

WheelsOn Secures $12.5 Million in Funding

UAE-based car rental startup WheelsOn raised $12.5 million through a mix of equity and debt. The equity portion includes $2.2 million from MENA-focused investors, $6.5 million is allocated for fleet expansion, and $4 million is bank financing.

Founded in 2023 by Nikolay Melnichuk, Adlet Shagirov, and Maxim Olivson, WheelsOn offers a fully digital, deposit-free car rental platform. Plans include fleet growth, AI-powered features like dynamic pricing and personalized recommendations, plus contactless rental technology.

Olivson, Chief Product Officer, said: “Our mission is to rethink car rentals by offering transparency, digital convenience, and a product that puts users in control.”

Addvocate.AI Gains Investment from 216 Capital

Addvocate.AI, based in Tunisia and France, secured strategic investment from VC firm 216 Capital to scale its AI-driven sales performance platform. Founded in 2024 by Ridha Mami and Sofyan Chekir, the company offers a “Sales Performance OS” that acts as a digital assistant for sales teams, boosting productivity with AI tools, behavioral nudges, and data insights.

The investment will help accelerate product development and international expansion.

Mami noted: “With 216 Capital’s support, we’re breaking through the limits of traditional CRM, delivering a solution built for impact rather than data entry.”

Justyol Secures $1 Million Funding Package

Morocco-based fashion e-commerce platform Justyol secured $1 million in funding, consisting of $400,000 equity from an angel investor and $600,000 inventory financing from Turkish firm Danis Group. Founded in 2022 by Ahmed Badran, Ahmed Rashed, and Anas Ahmed, Justyol connects Turkish fashion brands to MENA markets.

The funds will support expansion in Morocco, deepen market presence, and prepare for a future Series A round.

Basata Plans $7 Million Regional Expansion

Egypt’s Basata Holding for Financial Payments announced a $7 million investment for 2026 aimed at strengthening its market position and regional growth. The company is evaluating acquisition targets, with decisions expected by year-end.

Basata plans to launch new investment services in partnership with affiliates, pending regulatory approvals. Through its stake in Jordan’s Madfoatcom, it aims to enter Saudi Arabia before year-end, with further plans for Morocco and Kurdistan.

Basata, formed in 2009 through the merger of Masary and Bee, specializes in e-payment solutions including bill payments, mobile money, and supply chain services.

QIA Joins Anthropic’s $13 Billion Series F Round

Qatar Investment Authority participated in Anthropic’s $13 billion Series F funding round, alongside ICONIQ, Fidelity, and Lightspeed Venture Partners. The funds will support Anthropic’s enterprise capabilities, international growth, and AI safety research.

Founded in 2021, Anthropic develops Claude, a family of AI models focused on reliability, interpretability, and steerability. Their mission is to build safe, aligned AI systems for large-scale commercial and institutional use.