Discover the Top 10 Most Funded Startups in Saudi Arabia: A 2023 Overview of Innovation in Riyadh
06 August 2024•
%2Fuploads%2Farticles%2F2024%2F0802_10-ksa-startups%2F01.jpg&w=3840&q=75)
In 2023, Saudi Arabia emerged as a dynamic hub for startup growth, with half of the ten most funded startups in the MENA region originating from the Kingdom. This surge highlights Saudi Arabia's diverse and vibrant entrepreneurial landscape. Notably, the FinTech sector leads this growth, accompanied by significant advancements in e-commerce and digital platforms.
Tabby raised US $700 million and US $350 million in Debt Financing from JP Morgan and Partners for Growth respectively, as well as US $58 million series C round from Partners for Growth and a US $50 million series D round from Wellington Management, achieving unicorn status with its funds raised totaling up to US $1.7 billion.
The top 10 most funded startups are headquartered in Riyadh, underscoring the city's role as the epicenter of innovation and business development in Saudi Arabia:
Related: The Top 10 Most Funded Saudi Arabia Startups for H1 2024
Author
.jpg&w=3840&q=75)
We are a team of passionate Researchers, Data Junkies, and Story-Tellers that believe there is not enough quality business insights and compelling data analysis available in the marketplace, told in the formats users want. We want to give an insider's look into the industries, businesses and economies that are changing the world today, so our users can become inspired, empowered and equipped to run their businesses as best they can.
%2Fuploads%2Fsaudi-venture%2Fcover2.jpg&w=3840&q=75)
