Top funding rounds in MENA's main startup hubs

MAGNiTT's 2021 MENA Venture Investment Report provides a holistic comparison of the top 5 countries in MENA (based on the number of deals registered in 2020). As we get closer to Q2 and further 2021 investment rounds are announced, we're saying goodbye to 2020 by looking back on the top funding rounds in each of these countries last year.

The report revealed the countries that ranked in the top 5, which are: UAE, Egypt, Saudi Arabia, Jordan, and Oman.

In terms of deals, due to COVID-19 and a shift in investor priority, a higher proportion of investment was provided towards these hubs (84%), which was up from 73% of all deals in MENA in 2019. 


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MAGNiTT has predicted that the KSA startup ecosystem will overtake Egypt and rank in 2nd place for capital invested. What countries do you think will make the top 5 this year? Connect with me and share your thoughts.

The top 5 disclosed deals represented a significant 50%+ of all funding registered in the top 5 countries. Check out the highest round in each top hub below:


1. UAE

Emerging Markets Property Group$150, Series E

EMPG owns and operates bespoke classifieds portals in emerging markets, primarily in the MENA, South Asia, and Southeast Asia regions. The group’s flagship ventures are Bayut.com in the UAE, Saudi Arabia and Jordan, Zameen in Pakistan, Bproperty.com in Bangladesh, Mubawab in Morocco and Tunisia, and Kaidee in Thailand. 

Discover all 2020 funding rounds in UAE-based startups


2. Egypt

Vezeeta$40M, Series D

Vezeeta is a digital healthcare platform in MENA. Emerging in Cairo, Egypt, the company is pioneering the shift to automated physician, clinic, and hospital bookings. It provides comprehensive access to healthcare providers of every discipline across a multitude of insurance purveyor and specialist networks using proprietary digital cloud-based solutions. 

Its Series D round was announced in February 2020, to help boost product innovation and fund global expansion plans in the same year. 

Discover all 2020 funding rounds in Egypt-based startups


3. Saudi Arabia

Jahez - $36.5M, Series A

Jahez facilitates an online food delivery platform to unite stakeholders from restaurants, logistics fleets, and customers’ meal orders into a mobile app. The startup has managed design and in-house program development features and functions, since 2014, which aims to match customers’ expectations for a perfect experience. 

The Series A round was closed back in June to invest in building differentiated offerings, expanding in new verticals and developing in-house technology.

Discover all 2020 funding rounds in KSA-based startups


4. Jordan

Liwwa, Inc - $6M, Series A

Fintech Liwwa is a peer-to-peer (P2P) lending platform in the region, connecting small and medium businesses who need capital with fixed-income investors. Investors earn 10-15% returns while small businesses get access to much-needed financing. 

Liwwa secured its Series A round early last year to continue its rapid growth in the country as well as in Egypt. 

Discover all 2020 funding rounds in Jordan-based startups


5. Oman

eMushrif - $2.3M, Series A

eMushrif brings IoT technology to school buses enabling automatic attendance marking, a visual child check system, and a detection system to ensure no child is left in the school bus. The system also includes a mobile app to track buses and kids along with important notifications. It also provides IoT for assets/people monitoring employees in Oil and Gas companies.

The startup raised its Series A round late last year to support its expansion to other markets and verticals across the region.

Discover all 2020 funding rounds in Oman-based startups


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