MENA startups raised $172.6 million across 45 deals in July 2026, a 16% increase from June but 78% below the total recorded in July 2025, according to a Wamda and Digital Digest report.
The rebound was driven largely by debt. Debt accounted for 56% of total funding, compared with 11.5% in June and 2% a year earlier, while equity investment remained subdued.
Saudi Arabia returned to the top of the regional rankings, with startups raising $106.6 million across 16 transactions. The UAE recorded the same number of deals but attracted $46.6 million. Syria ranked third after three startups raised $10.16 million, ahead of Egypt’s $7.25 million across eight deals. Saudi Arabia and the UAE together captured almost 89% of the month’s funding.
E-commerce attracted 55% of total investment, while govtech ranked second after Whiteshield raised $15 million. Fintech remained the most active sector, with nine deals worth $10.9 million.
Early-stage startups accounted for 33 deals and $49 million, with no mega or late-stage rounds announced. B2B companies dominated funding, raising $136 million across 33 transactions.
Female-founded startups received just $1.7 million across four deals, less than 1% of the monthly total, highlighting the persistent funding gap for women entrepreneurs in the region.
Source: Wamda
