Top Saudi Startups Secure 8 Million in Funding in March 2024

Saudi Arabian startups were the frontrunners in fundraising within the MENA region in March 2024, securing a total of 8 million across 25 deals. A notable chunk of this investment, amounting to 0 million, was channeled into Salla, a Saudi-based SaaS company, during its pre-IPO funding round.

After Saudi Arabia, the United Arab Emirates emerged as the second-highest recipient of investments in the region, raking in million through 12 transactions. Egypt followed closely in third place, with eight startups collectively raising million.

The collective funding for startups in the MENA region throughout March reached an impressive 4 million, boosting the total for the first quarter of 2024 to 9 million. SaaS providers were the clear favorites among investors, accumulating 0.6 million in funding. Fintech startups also saw significant support with million in investments, while e-commerce businesses attracted million.

The growing trend in fundraising for startups in the MENA region reflects the increasing confidence and interest from investors in the region’s burgeoning tech and business landscape.