Weekly Market Highlights

9th of April 2026

Egypt-based consumer credit fintech Lucky raised USD 23 million in a Series B, backing its expansion across North Africa and infrastructure investment to build towards a broader financial services platform. This round was supported by Disruptech Ventures, DPI (via Nclude), Suez Canal Bank and OneStop, and highlights continued investor confidence in fintech scaling across regulated markets.

Via Separations, a leader in process solutions for industrial separations, today announced $36 million in new funding with significant participation from new investors, including Climate Investment, Aramco Ventures, and Marathon Petroleum Corporation, alongside participation from existing backers, including Embark Ventures, The Grantham Foundation for the Protection of the Environment, Massachusetts Clean Energy Center (MassCEC), and Safar Partners.

Riyadh-based Maison Safqa raised USD 620 thousand in pre-seed funding, with participation from 500 Global via the Sanabil MENA 500 Accelerator Fund and regional angel investors. The platform aims to structure GCC luxury overstock sales without diluting brand equity — an emerging niche in regional e-commerce.

Saudi sports gaming startup ElGoat has announced the close of a $266,000 Seed funding round via Trigon, reaching a valuation of $2.66 million.

Falak Startups recorded one of the largest exits in the Egyptian venture capital market after selling its stake in Delta Oil, achieving a return of 25.5x on its investment.

ZSystems has announced the successful close of its $1.65 million Seed funding round, led by Azur Innovation Management, with continued backing from existing investors MNF Ventures and Witamax and participation from Harambeans Prosperity Fund as its first international institutional investor.

Prosperity7 Ventures participated in a new funding round for the U.S.-based company NeuBird AI, which develops artificial intelligence solutions designed to support enterprise IT and technical operations. The round amounted to $19.3 million and was led by Xora Innovation, with participation from several investors, including Mayfield Fund, StepStone Group, and M12.

Egyptian business & startup media platform WAYA Media secured a strategic investment from Foras.ai, aimed at expanding its newsroom, enhancing data-driven content, and building video formats across the MENA region. This underscores growing interest in deep business journalism tailored to founders, investors, and operators.

According to Wamda data, total disclosed funding in the MENA region dropped to USD 48.3 million across 17 deals in March, marking an 85% MoM decline and a significant slowdown compared with March 2025. Investors appear to be in a wait-and-see mode amid geopolitical uncertainty, though fintech and healthtech continued to attract capital.

Saudi retailer BinDawood is acquiring a 51% stake in the fast-growing food manufacturer Vaza Food as part of its strategy to expand into higher-margin segments and gain greater control over its supply chain.

Paramount is in advanced talks to secure nearly USD 24 billion in equity commitments from three sovereign wealth funds led by Saudi Arabia’s Public Investment Fund. PIF alone is expected to contribute around USD 10 billion, with additional backing from Qatar Investment Authority and Abu Dhabi’s L’imad Holding.

Saudi investment firm Kingdom Holding has acquired a stake in Bill Gates’ Breakthrough Energy Ventures at a roughly 30% discount, boosting its exposure to climate tech investment ahead of broader market interest.

SpaceX is reportedly preparing for a potential $75B IPO, with Saudi Arabia’s Public Investment Fund in early talks to take a major stake, potentially committing up to $5B as Gulf capital continues to position itself in high-profile global investments.

OpenAI reportedly raised a record financing round of ~USD 122 billion, boosting its valuation to approximately USD 852 billion. While outside MENA, this milestone reflects the scale and competitive pressure shaping AI investments globally

King Street Capital Management and Saudi Arabia’s Public Investment Fund agreed a non-binding MoU to launch a private credit fund for KSA and MENA. PIF will act as anchor investor, with the vehicle providing bespoke capital solutions to corporates and conducting private financings across the region.

Zein Zone and GAIA Culture introduced a tokenized artist financing model in the UAE to help emerging creators build long-term brand value. The art–tech–finance approach leverages web3 to align funding with artist growth, opening new financing rails for the region’s creative economy.

Abu Dhabi will host the Global Entrepreneurship Festival 2026, convening founders, investors, and policymakers for free panels, workshops, and consultations. The event targets startup support and dealmaking opportunities, reinforcing the UAE’s role as a regional hub.

Kick Connect launched as a UAE-based platform helping young footballers showcase talent directly to global coaches and scouts. Founded by 17-year-old Nirmay Teckchandani, the sports-tech app targets a scalable talent discovery pathway from the UAE to international clubs.

Saudi's Capital Market Authority (CMA) approved a regulatory framework for offering Special Purpose Acquisition Companies (SPACs) in the Nomu Parallel Market, effective immediately. SPACs must complete an acquisition or merger within 24 months of listing, with a possible 12-month extension. Minimum post-offering capital is set at $26.7M (100M SAR), and the target company's value must represent at least 80% of amounts in escrow.