$4.84B YTD: GCC Investors Double Down on Scale

As of December 2025, venture activity across the GCC shows a market becoming more selective, with capital concentrating into larger rounds even as overall deal volume declines.

Year-to-date (YTD) funding reached $4.84 billion in 2025. While this marks a 5.7% decline from 2024’s $5.14 billion, it remains significantly above 2023’s $3.91 billion, highlighting that capital levels are still structurally stronger than two years ago.

The more dramatic shift appears in deal count.

In 2025, the GCC recorded 342 funding rounds, representing a sharp 33.3% drop from 2024 (513 rounds) and well below 2023’s 482 rounds. This divergence, which shows relatively stable capital but far fewer deals, signals a clear change in investor behavior: fewer checks, but larger ones.

Capital Concentration in 2025

The top rounds of the year illustrate this pattern. The five largest YTD 2025 deals include:

• Zelo (UAE) – $715M
• Lendo (Saudi Arabia) – $690M (Debt Financing)
• Optasia (UAE) – $277.5M (Corporate Round)
• Ninja (Saudi Arabia) – $254M
• XPANCEO (UAE) – $250M (Series A)

FinTech stands out as the dominant sector, accounting for multiple mega-rounds, including Zelo and Lendo. However, funding also flowed into delivery platforms (Ninja) and augmented reality (XPANCEO), signaling continued diversification across industries.

December 2025 Snapshot

December alone reinforces the same theme. The top five rounds included:

• Zelo (UAE) – $715M
• Rewaa (Saudi Arabia) – $45M (Series B; AI & E-commerce)
• COGNNA (Saudi Arabia) – $9M (Cybersecurity; Series A)
• Speed (UAE) – $8M (Blockchain; Seed)
• VBooking (UAE) – $5M (TravelTech)

Again, FinTech leads, but artificial intelligence, cybersecurity, blockchain, and travel tech remain active.

The Bigger Picture

Compared to 2024’s 31.3% increase in deal value over 2023, 2025 represents a recalibration rather than a contraction. GCC venture funding in 2025 capital remains resilient, but investors are prioritizing scale, proven models, and later-stage rounds.