The Saudi Startups That Scored Big in 2025

Saudi Arabia’s startup scene hit a new level in 2025 as mega-rounds and headline-grabbing investments poured into the Kingdom’s most ambitious companies. Powered by sovereign capital, deep-pocketed regional funds, and rising global interest, Saudi startups pulled in billions of dollars across AI, fintech, quick commerce, foodtech, and enterprise tech- often at unprecedented scale. From AI infrastructure bets to fintech giants and fast-moving consumer platforms, here are the 10 biggest startup funding rounds tied to Saudi Arabia this year.

Tamara ($2.4 billion)

Founded in 2020 by Abdulmajeed Al-Saikhan (Alsukhan), Turki Bin Zarah, and Abdul Mohsen al-Babtain, Saudi fintech Tamara has grown into one of the region’s leading Buy Now Pay Later platforms. In September 2025, the company secured a $2.4 billion shariah-compliant debt facility, the largest funding round ever for a MENA startup, backed by global investors including Goldman Sachs, Citi, and Apollo. The capital will be used to expand Tamara’s credit and payment offerings and scale its platform beyond its current 20 million users, further strengthening its position across Saudi Arabia and the wider region.

Ninja ($250 million)

Saudi quick-commerce startup Ninja raised approximately $250 million in one of the largest venture capital rounds in the MENA region in 2025, cementing its status as a unicorn. Closed in July 2025, the Saudi Arabia–based q-commerce round was led by Riyad Capital and marked a major vote of confidence in the company’s hyper-local, rapid-delivery model. Founded by Saud Al Qahtani and Canberk Donmez, Ninja has rapidly scaled its operations across the Kingdom, and the funding is set to accelerate network expansion, logistics infrastructure, and market leadership in Saudi Arabia’s highly competitive on-demand commerce sector.

Tabby ($160 million)

Buy Now Pay Later platform Tabby raised $160 million in a Series E funding round in early 2025. Tabby was founded in 2019 by Hosam Arab and Daniil Barkalov, and has grown into a regional leader in the industry. After the February funding round (which was led by Blue Pool Capital and Hassana Investment Company, with support from Wellington Management and STV) raised Tabby’s valuation to $3.3 billion, its value later rose to $4.5 billion after a secondary share sale was issued in October ahead of a potential public listing.

HALA ($157 million)

Since being founded by Esam AlNahdi and Maher Loubieh, HALA has grown into one of Saudi Arabia’s leading fintech platforms serving micro, small, and medium enterprises. In September 2025, the company announced a $157 million Series B round, officially ranking among the largest fintech Series B investments ever completed in the Middle East. The round was led by TPG’s The Rise Funds, with participation from Sanabil’s MENA investment platform. While valuation details were not disclosed, the capital will enable HALA to expand its embedded financial services offering, scale across Saudi Arabia and the wider region, and deepen its role in powering the Kingdom’s fast-growing SME economy.

iMENA Group ($135 million)

Founded in 2012 by Nasir Alsharif, Khaldoon Tabaza, and Adey Salamin, Saudi‑based digital platform operator iMENA Group raised $135 million in a pre‑IPO funding round in April 2025. The round, consisting of a private placement and in‑kind contributions, was led by Sanabil Investments (a unit of the Public Investment Fund) with participation from FJ Labs, entrepreneur Saygin Yalcin (founder and CEO of SellAnyCar), and other Saudi investors. The capital will be used to increase iMENA’s shareholding in its three high‑performing platforms - OpenSooq, SellAnyCar and Jeeny - while driving vertical and geographic expansion and improving integration across the group’s portfolio. As part of the financing, iMENA restructured into a Saudi Closed Joint Stock Company (iMENA Holding) as it positions itself for a potential future public offering.

Erad ($125 million)

Erad, a Riyadh-headquartered fintech startup focused on SME financing, secured a $125 million credit facility in November 2025, led by global investment bank Jefferies with co-investment from Channel Capital. Founded by Salem Abu-Hammour, Youssef Said, and Faris Yaghmour, Erad provides flexible, data-driven funding solutions designed to help small and medium-sized businesses manage cash flow and scale sustainably. The new facility will be used to expand Erad’s financing capacity and accelerate its growth across Saudi Arabia and the wider GCC, as demand for alternative SME funding continues to rise.

Calo ($39 million)

Saudi Arabia-headquartered foodtech startup Calo secured $39 million in a Series B extension round in July, led by AlJazira Capital. This brings Calo’s total Series B funding to $64 million, following a $25 million round in 2024 led by Nuwa Capital. Founded in 2019 by Ahmed Al Rawi and Moayed Al Moayed and originally launched in Bahrain, Calo offers personalized, subscription-based meal plans using AI to help users achieve specific health goals such as weight loss or muscle gain. The new funding will support international expansion and the company’s ambitions to go public by 2027, while scaling its platform to reach more customers across the Gulf region and beyond.

Lucidya ($30 million)

Founded in 2016 by Abdullah Asiri, Saudi enterprise SaaS and AI analytics startup Lucidya helps businesses unlock insights into customer behavior and sentiment. In July, the company closed a $30 million Series B round, setting a record for AI-focused funding in the MENA region. The round was led by Impact46, with participation from Wa’ed Ventures (Aramco), Takamol Ventures, SparkLabs, Rua Growth Fund, and ARG. The funding will support platform expansion, deeper enterprise adoption, and growth across Saudi Arabia and regional markets, strengthening Lucidya’s position as a leading customer intelligence solution provider.

Rize ($35 million)

In a $35 million Series A funding round led by Raed Ventures, Saudi proptech startup Rize is expanding its rent-now-pay-later (RNPL) platform to provide tenants and businesses with more flexible leasing and rent payment solutions. Founded in 2021 by Ibrahim Balilah and Mohammed AlFraihi, the company leverages digital tools to make property rental and payment processes easier and more accessible. The funding will support platform development, market expansion across Saudi Arabia, and partnerships with landlords and real-estate operators, aiming to transform the leasing experience for both tenants and businesses.

BRKZ ($30 million)

Saudi contech startup BRKZ secured up to $30 million in growth debt from Stride Ventures in October. The new capital will support the expansion of BRKZ’s flexible payment and embedded financing solutions, helping contractors and factories better manage cash-flow cycles and scale operations. Founded in 2023 by Ibrahim Manna, BRKZ operates a B2B platform offering access to a wide network of suppliers and construction materials, alongside multiple delivery and payment options. Recently selected for the Saudi Unicorns Programme, BRKZ follows this debt raise after completing a $17 million Series A extension in February 2025.