MEAPT VC Funding October 2025: Q4 2025 Kicks Off with Nearly USD 13 Billion Raised YTD Despite Continuously Shrinking Deal Count

As Q4 2025 begins, the venture capital year across the MEAPT region (Middle East, Africa, Pakistan, and Turkey) is nearing its close with a sharp contrast between funding value and deal volume. MEAPT startups had raised nearly USD 13 billion by the end of October this year, up 56.2% from the USD 8.33 billion raised over the same period in 2024. Deal activity continues its downward trend we've seen since the beginning of the year, falling from 1,836 deals in 2023 to 1,485 in 2024, and just 911 deals in 2025 - less than half of what it was this time 2 years ago! 

Geographic and Sectoral Spotlight 

After a sluggish 2024, the 2025 surge in VC capital reflects a sharp rebound in investor confidence across select MEAPT markets, most notably Saudi Arabia and the UAE. This jump in VC activity is even more striking when placed against the continued decline in deal count, underscoring how capital is becoming increasingly concentrated in fewer, larger transactions. October 2025 alone recorded 3 mega‑deals (tickets > USD 100 million), including 2 rounds above USD 250 million from the UAE’s Optasia and Property Finder. This stands in stark contrast to October 2024, which recorded a single USD 100 million mega‑round, and October 2023, which had none.

Optasia and Property Finder both made their way into 2025's top 10 biggest funding rounds to date, reaffirming this month’s outsized role contributing to the year’s total. These deals underscore continued investor confidence in FinTech and PropTech, sectors closely tied to digital transformation and infrastructure modernization across the Gulf.

Benin made a surprising appearance this month with Spironet raising a USD 100 million series round, highlighting West African innovation and climate-aligned transport through EVs. Egypt also made the top 5 this month through MNT‑Halan, signaling continued investor interest in the country's tech-enabled finance ecosystems even amidst currency depreciation and foreign-exchange instability of recent years.

Saudi Arabia had a quieter month compared to its stellar performance throughout 2025 thus far. From its largest October deal, Astra Nova’s USD 41.6 million Web3 Gaming round to smaller rounds from BRKZ (Construction Tech) and Arsann (Autotech), the Kingdom remains known for its sector diversification as a central node in the region’s investment landscape.

Macroeconomic & Investor Context

Global financial conditions continue to shape VC behavior across MEAPT. According to the IMF’s Global Financial Stability Report (April 2025), emerging markets are under pressure from both high borrowing costs and tighter access to global funding, with interest rates still elevated even after peaking in late 2024. This environment pushes investors to be more selective, putting more money into fewer deals, and mostly backing later-stage startups with strong revenue or ties to large national projects like those of Saudi Arabia's Vision 2030.

As we move into the final stretch of 2025, MEAPT is on track to post its highest annual funding total since 2023 at the least with a strong, albeit concentrated, pipeline. Are we witnessing the contours of a new normal - fewer bets, bigger deals - or is this a shift back toward high-value funding cycles no matter the number?

Let’s take a look at the top 10 funding rounds of October 2025 across MEAPT.

#1 - Optasia (UAE), FinTech, USD 277.5 Million Corporate Round

Launched in 2012 by Bassim Haidar, Optasia offers micro‑finance, mobile airtime credit, and data‑driven financial‑services products to underserved and under‑banked populations across Africa, the Middle East, and Asia. As of 2024, Optasia has reported over 120 million monthly active users per month, serving 860+ million subscribers in 38 countries. Optasia has also forged partnerships with major telecom operators such as MTN Group, Vodacom and Airtel to reach remote markets and build scalable infrastructure.

In October 2025, Optasia raised ZAR 4.8 billion (~USD 277.5 million), bringing its cumulative funds raised to nearly USD 332 million. The transaction was under‑written in part by major strategic investors including FirstRand taking a ~20 % stake in the company shortly thereafter. Optasia and FirstRand will use the new funds to strengthen their presence in Africa’s rapidly growing digital finance sector. Optasia also plans to list on the Johannesburg Stock Exchange (JSE), targeting up to  ZAR 6.3 billion (~USD 375 million) via a combination of new share issuance and private‑placement stock.

#2 - Property Finder (UAE), PropTech, USD 250 Million Debt Financing

Founded in 2007 by Michael Lahyani and Renan Bourdeau, Property Finder provides a platform for property listings, real estate search, and property management to help users find, buy, sell, and rent properties in MENA. Competing with platforms like Dubizzle and Bayut, Property Finder has expanded across the region, including Qatar, Bahrain, and Egypt, with a focus on Saudi Arabia and Turkey. Property Finder is the largest property portal in the MENA region by revenue, and has delivered consistently strong financial performance across its markets, with a 40%+ group revenue CAGR from 2020–2024. In the UAE alone, the company’s core real estate revenues grew from $30 million in 2021 to $117 million in 2024, and $73 million in 1H 2025, while UAE EBITDA margin expanded to above 60% in 1H 2025. This track record reflects the scalability and efficiency of Property Finder´s one-brand, one-tech-stack model, and its ability to generate superior ROI for its customers.

In October 2025, Property Finder secured a USD 250 million debt financing commitment from Ares Management, bringing Property Finder to unicorn status with its cumulative funds raised over USD 1 billion. The transaction follows recent strategic investments from Permira and Blackstone, and underscores global investor confidence in Property Finder´s leadership and growth potential, as well as the UAE’s dynamic technology ecosystem. The company plans to use the new funding to accelerate their growth in the region through investments in product innovation, AI-driven solutions, marketing & branding and strategic partnerships.

#3 - Spiro (Benin), E-Mobility, USD 100 Million Unknown Series Round

Founded in 2019 by the Dubai-based Equitane, Spiro is Africa’s largest and fastest‑growing electric‑mobility player on a mission to introduce electric alternatives to auto-rickshaw vehicles in Africa with a focus on the rapidly growing electric two-wheeler market. Spiro is committed to sustainable socio-economic development in Africa by creating jobs, reducing trade deficits and lowering carbon emissions across the continent. Spiro has completed more than 15 million battery swaps and logged over 340 million kilometers driven on its electric two‑wheelers. The company is now building its own manufacturing and assembly facilities, which will make Spiro the first company to produce e‑bikes and batteries in Africa.

In October 2025, Spiro announced a landmark USD 100 million funding round led by Fund for Export Development in Africa (FEDA). As Africa’s largest investment ever in electric mobility two‑wheelers, this deal brough Spiro's total cumulative fundraising to over USD 230 million. Spiro will use the new capital to scale its market‑leading battery‑swapping network across both current and upcoming markets, while also enhancing its core technology platform. The company aims to exceed 100,000 deployed electric vehicles by the end of 2025, solidifying its dominance in Africa and placing it among the top battery‑swapping operators globally.

#4 - MNT-Halan (Egypt), FinTech, USD 71.3 Million Unknown Series Round

Founded by CEO Mounir Nakhla in 2017, MNT-Halan began as a mobility platform offering two- and three-wheeled ride-hailing services tailored to Egypt’s mass transportation needs. Over time, the company evolved into a comprehensive super-app that integrates digital lending, e-commerce, payments, and logistics. Today, MNT-Halan serves more than 5 million users, providing microfinance, buy-now-pay-later (BNPL) solutions, and SME lending services to Egypt’s unbanked and underbanked populations. According to its financial statement for the closing year 2024, MNT-Halan operates 24 branches and had adopted a low-cost model.

In October 2025, MNT-Halan raised EGP 3.4 billion (~USD 71.8 million) through its seventh securitized bond issuance arranged by Commercial International Bank (CIB) and CI Capital. The funds are part of a broader EGP 8 billion (USD 168 million) program that enables the company to recycle loan receivables into fresh capital in its strategy to fuel loan‑portfolio growth amid a tight venture‑funding environment.

#5 - Astra Nova (KSA), Web3 Gaming, USD 41.6 Million Unknown Series Round

Founded in 2020 by Muhamed Ashhar and Faizy Ahmed, Astra Nova is a Riyadh‑based Web3 gaming and AI entertainment startup that merges blockchain, tokenisation and creator‑economy tools into a unified ecosystem. Astra Nova describes itself as the first AI Entertainment Ecosystem and develops tools that allow creators to launch blockchain-based entertainment experiences without needing technical skills. TokenPlay AI, its flagship product, acts as a no-code launchpad for mini-apps. Powered by Alibaba Cloud, it enables token-based communities to spin up interactive utilities within minutes. Other live products include NovaToon, a Web3 webtoon platform that allows fans to co-create stories with NFTs, and Deviants: Fight Club, a Telegram-based PvP game that integrates Astra Nova’s RVV token for in-game rewards. BlackPass, the firm’s onchain engagement and loyalty program, has drawn over 250,000 users to date.

In October 2025, Astra Nova announced USD  41.6 million in funding as part of a larger total raise of USD 48.3 million, building on earlier investments led by Outlier Ventures as well as family offices and institutional investors in Saudi Arabia, the United Arab Emirates, and Bahrain. The company says it will use the new funds to grow its suite of tokenized content tools and creator platforms as it expands into new markets across the Middle East, Europe and Asia while preparing for regulatory compliance. Strategic partners include NEOM, NVIDIA Inception and Alibaba Cloud.

#6 - BRKZ (KSA), ConstructionTech, USD 30 Million Debt Financing

Founded in 2022 by CEO Ibrahim Manna, BRKZ is a construction tech startup aiming to revolutionize the construction industry in over 40 cities across Saudi Arabia. Designed to streamline the procurement of construction materials, its app is a B2B marketplace which connects contractors with a wide range of suppliers, ensuring competitive pricing and quality assurance while facilitating bulk order customization and negotiation. Through its digital platform, contractors can access over 7,000 SKUs from more than 1,100 local suppliers, receiving competitive quotes within 20 minutes. The platform's built-in financing options align with construction cash flow cycles, addressing a critical pain point in the industry. BRKZ now serves more than 850 unique contractors and factories across flagship projects like King Salman Park, Neom, and Red Sea.

In October 2025, BRKZ secured USD 30 million in growth debt from Stride Ventures, bringing its total cumulative fundraising to over USD 52 million. BRKZ will use the funds to strengthen its position as one of the key innovators in tailored embedded financing for the Kingdom’s building materials market while expanding its supplier network into global markets, focusing on China and India. The company will continue enhancing its technology platform and financing solutions, positioning itself as the comprehensive solution for construction procurement in the MENA region.

#7 - Prisma Photonics (Israel), Industrial IoT, USD 30 Million Unknown Series Round

Founded in 2017 by CEO Dr Eran Inbar, Prisma Photonics is a deep‑tech startup that is transforming existing optical fiber into the world's most advanced infrastructure monitoring platform. Its flagship platform, Hyper‑Scan Fiber‑Sensing™, uses optical backscatter and advanced artificial‑intelligence models to detect strain, temperature changes, vibrations and security events across hundreds of kilometers of transmission infrastructure. The company’s technology is already deployed across thousands of kilometers of power‑grid and perimeter‑security assets, including engagements with 15 Tier‑1 utilities in the US and Europe.

In October 2025, Prisma Photonics announced the closing of an oversubscribed USD 30 million growth round led by Protego Ventures, bringing its total capital raised to USD 80 million. The raise will accelerate Prisma Photonics' scale-up journey and growth in the U.S. and Europe and fuel its expansion into Latin America, where utilities are racing to integrate renewable energy while addressing aging transmission systems.

#8 - Arsann (KSA), AutoTech, USD 26.7 Million Unknown Series Round

Founded in 2017 by Mahmoud Ghulman, Arsann is the KSA’s leading operator of smart parking and mobility infrastructure. Arsann operates over 270 active sites and has managed more than 10 million parked vehicles across Saudi Arabia, the largest smart-parking footprint in the Kingdom. Its IoT-enabled systems and digital payments optimize parking flow, reduce congestion, and enhance accessibility across sectors such as retail, healthcare, aviation, and hospitality. Beyond its role in national infrastructure, Arsann creates value for both businesses and users. Its platform turns parking assets into data-driven revenue centers for property owners and delivers seamless, cashless access for drivers—making mobility simpler and more reliable. Arsann’s ecosystem has also created new economic opportunities across the kingdom’s growing gig economy. By leveraging its matching and management technologies, the company has enabled a network of on-ground operators and mobility service providers to participate in Saudi Arabia’s evolving smart-mobility sector—supporting job creation and local value generation in line with Vision 2030.

In October 2025, Arsann announced a SAR 100 million ($26.7 million) strategic investment from Merak Capital. The investment marks a major step in modernising Saudi Arabia’s urban infrastructure and optimising city mobility through data and automation, supporting Vision 2030’s goals of smarter, more sustainable cities.

#9 - CyberRidge (Israel), Cybersecurity, USD 26 Million Seed & Series A

Founded by Dan Sadot, CyberRidge is a deep-tech cybersecurity startup that protects sensitive data through patented photonic-layer encryption, rendering transmissions over optical fiber into untraceable optical noise and eliminating the risk of offline interception, even in the quantum era. CyberRidge was recently awarded a flagship grant from the European Innovation Council (EIC), selected from over 1,400 companies for its transformative potential in secure communications.

In October 2025, CyberRidge announced a USD 10 million seed round led by Awz Ventures and an additional USD 16 million extension involving investors such as Arkin Capital. The company reached USD 26 million in total funding to expand deployment of its photonic-layer security (PLS) solution for post quantum protection.

#10 - Cercli (UAE), Business Development Software, USD 12 Million Series A

Founded by Akeed Azmi and David Reche in 2024, Cercli is a unified modern platform for MENA businesses to hire, manage, and pay their global workforce. Cercli’s platform is designed and engineered around the customer’s needs while being localised to be compliant with market-specific regulatory changes and labour law revisions. The company’s technology team has built integrations across HR, finance, accounting, legal and IT software, allowing customers to seamlessly plug into the Cercli platform, which acts as their primary source of truth. Over the past 12 months, Cercli has achieved 10x revenue growth with its customer base ranging from startups to large multinational corporations, including Vision Bank, Backlite Media (part of Abu Dhabi-listed Multiply Group), Global Climate Finance Centre, Huspy, Lean Technologies and Ziina.  The company has processed payroll distributions across 50 countries, totaling over USD 100 million in employee salaries as it services enterprises that range from 25 to 1,000 employees in the MENA region and beyond.

In October 2025, Cercli announced a USD 12 million Series A round led by Germany-headquartered Picus Capital, bringing its total cumulative funding to USD 16 million. This investment marks the first in MENA for Picus Capital, which manages assets over USD 1 billion across its portfolio. As part of the investment strategy, Cercli aims to develop new AI-driven tools and expand its presence within MENA’s USD 5.8 billion HR software market.