{"id":91731,"date":"2024-05-07T00:00:00","date_gmt":"2024-05-07T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/uae-startups-led-mena-funding-in-april\/"},"modified":"2024-05-07T00:00:00","modified_gmt":"2024-05-07T00:00:00","slug":"uae-startups-led-mena-funding-in-april","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2024\/05\/07\/uae-startups-led-mena-funding-in-april\/","title":{"rendered":"UAE startups led MENA funding in April"},"content":{"rendered":"

Six UAE <\/strong>startups raised a combined USD 32 mn in April 2024<\/strong>, Wamda<\/a> reports, marking nearly a 1000% y-o-y increase compared to the USD 3 mn three UAE startups raised in April 2023, according to Enterprise calculations based on Wamda figures from last year<\/a>. UAE startups landed the largest sum of investments in MENA during the month, eclipsing Saudi Arabia.<\/p>\n

Who raised money: <\/strong>The largest ticket across the region was UAE fintech outfit Fortis, which raised USD 20 mn<\/a> in Series A funding. Dubai-based e-commerce platform Wee Marketplace also secured USD 10 mn<\/a> in equity and debt from SIG Investment as part of its pre-series A funding, while Shorages closed a USD 1 mn<\/a> pre-series A led by Riyadh-based investment manager Joa Capital. Wamda does not provide further information on the other startups it says raised funding last month. <\/p>\n

THE REGIONAL PICTURE-<\/p>\n

Investments in MENA startups rose 7x y-o-y to USD 55 mn in April<\/strong>, according to our math. Meanwhile, that figure shrank 78% on a monthly basis with startups landing USD 254 mn in March 2024<\/a>.<\/p>\n

Fintech is king: <\/strong>Four fintech companies from the region bagged USD 25.7 mn in April, followed by ecommerce at USD 10.5 mn, AI companies at USD 8 mn, and SaaS providers at USD 3.5 mn. The bulk of funding went to companies that are at stages beyond the seed level.<\/p>\n

Investors are bullish on B2B startups<\/strong>, with USD 42.5 mn raised by B2B companies across 12 transactions, while B2B2C companies landed USD 11 mn, and those with a B2C model bagged USD 1.2 mn.<\/p>\n

Only one female founder was funded in April with a slim USD 100k<\/strong>, while male-founded startups reeled in USD 43 mn during the month. The remaining USD 11.9 mn went towards startups with mixed-gender leadership.<\/p>\n","protected":false},"excerpt":{"rendered":"

The largest ticket across the region was UAE fintech outfit Fortis\u2019 USD 20 mn series A round<\/p>\n","protected":false},"author":1,"featured_media":91732,"comment_status":"","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1548],"tags":[1205,7,79,25,78],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-91731","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-startup-watch","tag-ecommerce","tag-enterpriseam-uae","tag-fintech","tag-investment-watch","tag-startup-watch","wpautop","entry"],"acf":{"mongo_id":"cdab9993-33b6-47fa-afb0-04daa90050d1","order":"6","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/4\/545.jpg","photo_position":"above","homepage_title":"","full_issue_title":"A spotlight on how much capital was raised by UAE, MENA startups in April","related_issue":[91722],"teaser":"The largest ticket across the region was UAE fintech outfit Fortis\u2019 USD 20 mn series A round","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/5\/.a0bd5269-451b-4480-a005-6fc61ffab1a1.mp3"},"yoast_head":"\nUAE startups led MENA funding in April - UAE<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/07\/uae-startups-led-mena-funding-in-april\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"UAE startups led MENA funding in April\" \/>\n<meta property=\"og:description\" content=\"The largest ticket across the region was UAE fintech outfit Fortis\u2019 USD 20 mn series A round\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/uae\/2024\/05\/07\/uae-startups-led-mena-funding-in-april\/\" \/>\n<meta property=\"og:site_name\" content=\"UAE\" \/>\n<meta property=\"article:published_time\" content=\"2024-05-07T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/545.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/05\/07\/uae-startups-led-mena-funding-in-april\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/05\/07\/uae-startups-led-mena-funding-in-april\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"UAE startups led MENA funding in April\",\"datePublished\":\"2024-05-07T00:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/05\/07\/uae-startups-led-mena-funding-in-april\/\"},\"wordCount\":286,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/05\/07\/uae-startups-led-mena-funding-in-april\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/545.jpg?fit=%2C&ssl=1\",\"keywords\":[\"Ecommerce\",\"EnterpriseAM UAE\",\"fintech\",\"INVESTMENT WATCH\",\"STARTUP WATCH\"],\"articleSection\":[\"STARTUP WATCH\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/05\/07\/uae-startups-led-mena-funding-in-april\/\",\"url\":\"https:\/\/enterpriseam.com\/uae\/2024\/05\/07\/uae-startups-led-mena-funding-in-april\/\",\"name\":\"UAE startups led MENA funding in April - 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