Fintech companies raised $1.03 billion in the Middle East and North Africa in the third quarter of 2026, 62% of the $1.65 billion raised by startups across the region, according to data from Wamda and Digital Digest.
Total MENA startup funding across 145 deals was up 108% in the second quarter, and deal numbers rose 39%. It was still about 63% below the $4.5 billion raised in the third quarter of 2025.
That comparison is distorted by a one-month difference. Wamda’s figures show September 2025 alone brought in $3.5 billion, $2.6 billion of it in debt, led by a $2.4 billion facility for Saudi buy now, pay later company Tamara. Without that September debt, last year’s third quarter was about $1.9 billion, against $1.65 billion this year.
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Three Saudi deals carried the quarter
Saudi Arabia raised about $1 billion across 62 deals, up from $102 million in the second quarter, and retook the top spot from the UAE.
Most of that came from three fintech companies. Payments app barq raised a $329.5 million Series A at a $1.85 billion valuation in September, making it Saudi Arabia’s newest unicorn. Buy now, pay later company Tabby raised $233 million at a $6.5 billion valuation the same month.
Lendo, a debt crowdfunding platform regulated by the Saudi Central Bank, secured a SAR 750 million ($200 million) programme from Vienna-based asset manager Quantic Financial Solutions to fund working capital for small businesses. Without those three deals, Saudi funding was about $237 million.
The UAE raised $507 million across 41 deals, down 14% from $591.3 million in the second quarter. Most of it came from mobility company Moove’s $250 million Series C and crypto platform Fasset’s $68 million Series C, which was led by Japan’s SBI and valued it at $1 billion. Without those two, the UAE total was $189 million.
Egypt raised $56.4 million across 15 deals, down 22%. Paymob’s $35 million pre-Series C made up most of it.
Less debt, more equity
Debt made up $441 million across 10 deals, or 26.8% of the quarter’s total, compared with almost 59% in 2025. Equity and other non-debt funding came to $1.21 billion.
Later-stage rounds took $606 million across seven deals. Early-stage companies raised $505.4 million across 94 deals. Business-facing companies raised $876.2 million, more than half the total.
Female-led startups raised $12.7 million across 16 deals, less than 1% of the quarter’s money.
Wamda said, “The third quarter offered evidence of resilience, but not yet of a comprehensive recovery. The recovery was far from evenly distributed.”
