Top Funding Rounds in MENA 2024

This year has seen some of MENA’s largest-ever funding rounds. Here’s a look at five standout deals. Only startups that were founded less than 10 years ago and had disclosed their funding rounds as of November 27, 2024, were considered.

- SARA JUNAID

1. MNT-Halan

Funding amount: $157.5 million

Sector: Fintech

Headquarters: Egypt

Established: 2018

In July 2024, MNT-Halan secured a total of $157.5 million in funding, including $40 million from the International Finance Corporation, with other investments by Development Partners International, Lorax Capital Partners, funds managed by Apis Partners LLP, Lunate, and GB Corp. It achieved unicorn status in February 2023 after raising $400 million in equity and debt financing from local and global investors. In July 2024, it acquired Tam Finans, a Türkiyebased commercial finance company, with a loan book exceeding $300 million. Mounir Nakhla and Ahmed Mohsen launched the company in 2018.

2. Salla

Funding amount: $130 million

Sector: E-commerce

Headquarters: Saudi Arabia

Established: 2016