Wamda – Investments in MENA, 2025

This report analyzes investment trends and ecosystem growth in the Middle East and North Africa (MENA) startup sector during 2025.

A total of 647 startups raised $7.5 billion, marking a 225% year-on-year increase, with equity-led investment growing 77% YoY excluding debt financing. The second half of 2025 saw accelerated momentum, especially in Q3 with $4.5 billion raised. Mega deals like Tamara's $2.4 billion significantly influenced total volume. Regional investors led 64% of deals, with Saudi Arabia as the top source of capital, followed by strong interest from US-based investors. Saudi Arabia, UAE, Egypt, and other GCC countries showed varied but steady investment activity.