$329.5M for Barq, $250M for Moove, and $233M for Tabby: MENA Startups Attract Major Funding in Q3 2026

According to Wamda, several startups in the Middle East and North Africa (MENA) region secured significant funding during the third quarter of 2026. These deals highlight investors’ strong appetite for companies capable of scaling effectively. They also reveal that behind every headline funding figure lies a distinct reality: whether it involves new equity investors, debt financing, or support for an already established enterprise.

Six Major Deals Define the Quarter

In the MENA region, six transactions stand out due to their size. Three involve Saudi Arabian companies, two are based in the United Arab Emirates (UAE), and one is an Egyptian company. Together, these deals represent over $1 billion in total funding. While their sectors range from financial services to mobility, they share a common thread: each company has mobilized substantial capital to drive its growth.

1. Barq (Saudi Arabia): $329.5M in Series A

Barq leads the pack with $329.5 million raised in a Series A round. The Saudi fintech achieved a valuation of $1.85 billion following the transaction. This places the company among the most highly valued players in the region, despite being at a relatively early stage in its funding journey.

Key Distinction: It is crucial to differentiate between the amount raised and the valuation. The $329.5 million represents the actual capital injected into the company, while the $1.85 billion reflects the value assigned to the company in this transaction. For executives, this distinction is vital: a high valuation signals investor expectations but does not, on its own, indicate profitability or financial stability.

2. Moove (UAE): $250M in Series C

Moove, based in the UAE, raised $250 million in a Series C round. Operating in the mobility sector, the company focuses on providing drivers with access to vehicles for their work. Its model sits at the intersection of financing and transportation: access to a vehicle enables work, and the revenue generated helps cover the vehicle’s cost.

This substantial funding provides Moove with additional resources to continue its development. However, large funding rounds come with high expectations. Investors typically seek clarity on how the capital will be deployed, which markets the company intends to enter, and how this growth will translate into financial results.

3. Tabby (Saudi Arabia): $233M in Series F

Tabby, another Saudi fintech, raised $233 million in a Series F round, bringing its valuation to $6.5 billion. The company operates in the Buy Now, Pay Later (BNPL) sector, allowing consumers to split their purchases into installments.

A Series F round represents a more advanced stage of financing than Barq’s Series A. Tabby has already passed through several development phases and is now seeking to sustain its growth. These two deals illustrate different scenarios: one company raising funds to accelerate early-stage development, and another seeking new capital after multiple funding cycles.

4. Lendo (Saudi Arabia): $200M in Debt Financing

The third Saudi player in this group, Lendo, secured $200 million in the form of debt. This modality fundamentally changes the nature of the transaction. Unlike an equity raise, debt financing does not necessarily result in the investor taking an equity stake in the company. Instead, it involves repayment according to agreed-upon terms.

For a company, debt can finance operations without diluting existing shareholders’ ownership. However, it requires the ability to meet repayment schedules. The choice between debt and equity depends on funding needs, expected revenues, and the level of risk the company is willing to bear. The amount raised alone is not sufficient to determine which solution is most appropriate.

5. Fasset (UAE): $68M in Series C

Also based in the UAE, Fasset raised $68 million in a Series C round. The fintech develops digital financial services, particularly around digital assets. While smaller than Moove’s deal, it remains one of the region’s top transactions for the quarter.

6. Paymob (Egypt): $35M in Pre-Series C

In Egypt, Paymob secured $35 million in a Pre-Series C round. The company provides payment infrastructure to merchants and businesses, enabling them to accept and manage digital payments. This service addresses a critical need for companies looking to grow their online sales or diversify the payment methods offered to their customers.

Key Takeaways for Executives

These six operations demonstrate that major funding rounds do not all serve the same purpose. Some support the expansion of fintechs, while others finance mobility services or payment infrastructure. The stage of financing also matters: a Series A and a Series F do not correspond to the same level of maturity or the same investor expectations.

For business leaders, these examples serve as a reminder that fundraising is not just about chasing the highest possible amount. It requires:

1. Identifying the specific funding need.
2. Choosing between debt and equity.
3. Evaluating the impact on governance and finances.

Bringing in an investor can provide resources and a network but typically involves sharing part of the capital and decision-making power. Borrowing allows the company to retain ownership but creates a repayment obligation. Understanding these nuances is essential for sustainable growth.