RIYADH: Startups across the Middle East and North Africa continued to close funding rounds last week even as investors weighed persistent market uncertainty tied to the conflict involving Iran.
The momentum comes after startup funding in the MENA region in August more than doubled month-on-month, with 27 startups raising a combined $375 million.
TalMal raises fund for local expansion
TalMal, a Saudi-based fintech firm, has closed an undisclosed pre-seed funding round with participation from MM Partners, as it eyes commercial expansion in the Kingdom.
TalMal is using the investment to move beyond product development and business-model validation into commercial expansion, with plans to enlarge its network of employers, merchants and employees, according to a press statement.
The statement added that the company plans to deploy the proceeds to broaden its network of employers and merchants, increase its employee user base and strengthen its technology infrastructure as it expands across Saudi Arabia.
Founded in 2023 by Thamer Faisal Al-Qu’ayshish, TalMal is developing a salary-backed flexible purchasing platform that connects employees, employers and merchants, allowing staff to tap purchasing power linked to their salaries while employers handle repayment.
Paymob raises $35m
Paymob, a payments infrastructure service provider company in the MENA region has raised $35 million in a pre-Series C funding round co-led by Mubadala Investment Co., an Abu Dhabi-based sovereign investor, and the European Bank for Reconstruction and Development.
According to a press statement, the funding round also witnessed the participation of British International Investment, Global Ventures, and DPI Ventures.
The company said the proceeds will fund Paymob’s continued expansion across the MENA region, scaling its core digital payments acceptance business and introducing new product offerings tailored to SME merchants and agentic commerce.
“Paymob’s expansion in the UAE aligns closely with our ambition under our MENA Venture Capital Fund to support companies that strengthen the country’s digital economy and reinforce its position as a leading regional fintech hub,” said Islam Shawky, the company’s co-founder and CEO.
He added: “With a scalable payments platform and strong growth potential across the GCC, Paymob is well positioned to support merchants, advance financial inclusion and contribute to economic diversification. This investment reflects Mubadala’s continued focus on backing innovative businesses that can scale across the region and create long-term value.”
Paymob offers an omnichannel payments platform that enables merchants to accept online and offline payments and access more than 60 payment methods via a single integration. It serves more than 390,000 merchants across Egypt, the UAE, Saudi Arabia and Oman.
AREP raises pre-Seed funding for Saudi expansion
Academic Research and Educational Platform, a Saudi-based education technology and research enablement company has closed an undisclosed pre-Seed funding round led by Golden Assets Investment, as it eyes expansion in the Kingdom.
Founded in 2023 by Hussain Al-Hamami, Ibrahim Asiri, Rayan Ahmed and Alhanouf Alhmammi, AREP is building technology and training products aimed at addressing skills and procurement gaps across educational and research laboratories.
According to a press statement, the company operates through two main offerings, AREP Academy and AREP Marketplace.
AREP Academy provides training in laboratory sciences and research through a combination of digital learning and practical experience, while the market place is focused on the laboratory and research supply chain, providing a digital platform through which educational and research institutions can source scientific equipment and supplies.
The statement added that the newly injected funding will be used to further develop its technology products and expand its operations across Saudi Arabia, while preparing for potential regional expansion at a later stage.
The company said its wider strategy is to build laboratory talent and expand access to the equipment and supplies needed by universities and research institutions, in support of Saudi Arabia’s research, development and innovation ecosystem.
Huspy enters Italy
Huspy, a UAE-based property tech, has entered the Italian market by acquiring Integra Finance, a credit company serving individuals and businesses based in the country.
The transaction marks the first step in Huspy’s strategy for Italy, where the company plans to invest $86 million, with the aim of building one of the country’s leading operators in mortgage finance and real estate, according to a press statement.
Established in Dubai in 2020, Huspy now has operations in 15 cities spanning the UAE, Spain, Saudi Arabia and Italy. The company supplies AI-native technology, services and support to real estate agents and mortgage consultants.
“We are doubling down on Europe, and Italy is central to our next phase of growth. Integra Finance has built a fast-growing business with a high-calibre management team, an established network of advisers and partners, underpinned by a highly efficient operating model,” said Jad Antoun, co-founder and CEO of Huspy.
He added: “By combining this expertise and market presence with our AI-native technology and systems, we aim to accelerate Integra’s growth and help transform the way real estate agents, credit advisers and clients experience the process of buying, selling and financing a home.”
The financial terms of the transaction were not disclosed.
