MENA Startups Secure Fresh Funding for Expansion and Innovation

Startups across the Middle East and North Africa (MENA) region continue to attract significant investor attention, with new funding rounds announced across sectors including fintech, mobility, e-commerce, and artificial intelligence.

WheelsOn raises $12.5m
UAE-based car rental platform WheelsOn has secured $12.5 million in a mix of equity and debt financing to drive its next growth phase. The round includes $2.2 million in equity from private regional investors, $6.5 million earmarked for fleet expansion, and $4 million in bank financing.

Founded in 2023 by Nikolay Melnichuk, Adlet Shagirov, and Maxim Olivson, WheelsOn operates a fully digital, deposit-free car rental service. The company plans to channel the new capital into expanding its fleet and introducing AI-powered features such as dynamic pricing, personalized recommendations, and contactless rental technologies. “Our mission is to rethink car rentals by offering full transparency, digital convenience, and a product that puts users in control,” said Olivson, chief product officer.

Addvocate.AI secures backing from 216 Capital
In Tunisia and France, Addvocate.AI announced a strategic investment from venture capital firm 216 Capital to accelerate the development of its “Sales Performance OS.” Founded earlier this year by Ridha Mami and Sofyan Chekir, the platform acts as a digital copilot for sales teams, using AI-native tools, behavioral nudges, and data-driven insights to tackle pipeline stagnation. “With the support of 216 Capital, we are equipped to stay ahead, breaking through the limits of traditional CRM and delivering a solution built for impact, not for data entry,” said Mami.

Justyol raises $1m to expand fashion e-commerce
Moroccan startup Justyol, a fashion e-commerce platform connecting Turkish brands to MENA markets, has secured $1 million in new funding. The package comprises $400,000 in equity from an angel investor and $600,000 in inventory financing from Turkey’s Danis Group. Founded in 2022, the company plans to use the fresh capital to strengthen its market position in Morocco and prepare for a Series A round.

Basata announces $7m regional growth plan
Egypt’s Basata Holding for Financial Payments has unveiled plans to invest $7 million in regional expansion by 2026. The company is exploring acquisitions to boost its footprint and intends to enter Saudi Arabia through its stake in Jordan’s Madfoatcom before the end of this year. Additional expansion into Morocco and Kurdistan is also under consideration. Formed in 2009 through the merger of Masary and Bee, Basata specializes in e-payment services including mobile money, bill payments, and supply chain solutions.

QIA joins Anthropic’s $13bn round
In a global development, the Qatar Investment Authority (QIA) has joined the $13 billion Series F funding round of U.S.-based Anthropic. The round, which also included ICONIQ, Fidelity, and Lightspeed Venture Partners, will support Anthropic’s international growth and research into AI safety. Founded in 2021, Anthropic is known for its Claude family of models, developed to prioritize reliability and interpretability in enterprise-scale applications.