Regional Tech Firms Attract Major Funding as Fintech and Asset Finance Deals Expand

Regional technology companies secured significant equity, debt and institutional funding over the past week, with large fintech transactions accounting for some of the biggest deals. New initiatives also expanded access to recycling services, restaurant delivery, venture debt and private-market investment across the Middle East and Africa.

Egyptian recycling technology startup Bekia raised $765,000 in seed funding in a round led by Madica, with additional investment from Catalyst Fund and Dakar-based Jambaar Capital. Founded in 2019 by Alaa Afifi, Bekia connects households with waste collectors and records transactions through its platform. The company plans to expand its engineering team, launch its business-to-business product Bekia Next and test its model in another African market.

In Saudi Arabia, fintech company Lendo partnered with Austria-based Quantic Financial Solutions on an institutional capital programme worth up to $200 million. The programme will provide working-capital financing to small and medium-sized businesses through Lendo’s Saudi Central Bank-regulated, Shariah-compliant debt crowdfunding platform.

Saudi property technology company Rize also secured a SR187.5 million ($50.4 million) asset-backed Murabaha facility from Jadwa Investment. The financing will support residential rental contracts generated through Rize’s rent now, pay later platform, which allows eligible tenants to split annual rent into monthly payments while landlords receive funds upfront.

Bahrain-based private-markets platform Tanami closed an undisclosed funding round backed by Tali Ventures, Qatar Development Bank, Britain’s 1818 Ventures and other investors. Founded in 2023 by Nawaf Al-Maskati and Faisal Al-Jalahma, the company provides eligible investors with access to private equity, credit, real estate and infrastructure. It plans to enter Qatar and expand its investor base.

Financial infrastructure company Tarabut secured $50 million in strategic financing from Riyad Bank, SAB Invest-managed X-Tech Fund, GIB Saudi Arabia, Zamil Group, Kanoo Ventures and other institutions, subject to regulatory approvals. The Bahrain-founded company plans to expand its Saudi operations and develop embedded-finance services.

One of the largest disclosed transactions came from Saudi fintech barq, which raised $329.5 million in a Series A round at a valuation of $1.85 billion. Investors included Noon Investments, Sohar International Bank and M20 Fund. Founded in 2023 by Ahmed Alenazi, barq operates a Saudi Central Bank-licensed financial application focused on digital payments and money transfers.

Saudi construction technology startup BRKZ raised $31 million through a $13 million Series B and an $18 million debt commitment. Meanwhile, UAE-based Synapse Analytics raised $13 million in Series A funding led by Partech.

Saudi-headquartered fintech Tabby raised $233 million in Series F funding, valuing the company at $6.5 billion. The company said it plans to expand beyond buy now, pay later services into credit and money-management products in Saudi Arabia and the UAE.

Egypt also saw moves to broaden alternative financing, as AMAN Holding, Bokra and Erada Finance joined a GIZ Egypt and enpact initiative to introduce venture debt for growing companies.

Breadfast, meanwhile, launched its restaurant delivery service in Egypt following a beta test, adding another category to its grocery, bakery, coffee and pharmacy platform.