MENA's Serial Startup Founders

Startups in MENA raised a total of $2 billion across 376 deals in the first 10 months of 2023, according to Wamda, spanning various sectors. Here are some founders who have founded two or more, attracting both direct foreign investments and regional investors.

- RAWAN HASSAN

• Hosam Arab

Startups founded: Tabby, Namshi

Nationality: Canadian

In 2019, Arab cofounded. Tabby, a buy-now-pay-later solutions provider with an annual transaction volume exceeding $6 billion, serving 10 million shoppers across Saudi Arabia, the U.A.E., and Kuwait. On November 1, 2023, Tabby became the fintech unicorn in the region with a $200 million Series D round led by Wellington Management, valuing the company at over $1.5 billion ahead of its planned IPO in Saudi Arabia. Arab previously co-founded online fashion retailer Namshi in 2011, which was fully acquired by Emaar Malls in 2019, to be later sold to Noon for a reported $335.2 million.

• Sami Alhelwah

Startups founded: Nana, Sadeem, Matajer, EXA Group

Nationality: Saudi

With more than 22 years of experience in technology-driven startups and businesses, Alhelwah cofounded the Riyadh-based online grocery platform Nana, where he currently serves as its CEO. Nana raised over $212.2 million in seven funding rounds as of 2023. Alhelwah also founded Exa Information Technology in January 2002, a Saudi private equity firm and a cloud service provider in MENA, which is currently known as EXA Group. The group has been investing in software and technology companies for over 20 years.

• Abdallah Abu Sheikh

Startups founded: Astra Tech, Rizek, Barq

Nationality: Jordanian