
New Delhi, Aug. 8 -- Fundraising activity in the Middle East and North Africa (MENA) region was driven by two big-ticket, late-stage deals this week. Saudi Arabia-based e-commerce fulfillment platform Salasa secured Series B funding, while UAE's B2B fintech Alaan raised a Series A round.
In addition to these eight-digit deals, other startups that secured early-stage capital included Egypt's SaaS platform Wuilt, Cairo-based digital procurement firm Suplyd, Saudi SME receivables securitization company RIFD, Iraq-based logistics aggregator Boxy, and Saudi AI platform Deep.SA.
Wuilt
Egypt's e-commerce enablement platform Wuilt raised $2 million in a round led by Flat6Labs and MTF VC, to scale its operations. The round also saw participation from Hub71, JIMCO (Abdul Latif Jameel's VC arm), Purity Tech, and a group of angel investors.
Founded in 2019 by Ahmed Rostom and Mahmoud Metwaly, Wuilt enables users to create websites and e-stores without complex coding.
This funding comes after Wuilt pivoted in April this year to offer its core platform for free in Egypt, eliminating subscription fees. It now monetizes through value-added services such as Wuilt Shipments, Wuilt Pay, and Wuilt Wallet.
Wuilt plans to launch its free platform in the UAE in Q4 2025, followed by GCC countries and Turkey in Q1 2026.
Previously, the company raised $535,000 in a seed round around five years ago from MENA Technology Fund, DAAL VC, and Flat6Labs.
Salasa
Salasa, a Saudi Arabia-based e-commerce fulfillment platform, secured $30 million in a Series B funding round led by Artal Capital, with participation from Saudi state-owned SVC, Wa'ed Ventures, 500 Global, Alsulaiman Group, and other strategic investors.
Founded in 2017 by Abdulmajeed Alyemni and Hasan Alhazmi, Salasa offers end-to-end logistics services, including warehousing, inventory management, last-mile delivery, bonded zones, and cross-border shipping.
Salasa aims to use the funds to transition into an AI-powered logistics platform to enable predictive and automated operations. It also plans to expand its fulfillment network, bonded zones, and dark stores across Saudi Arabia and the GCC, while boosting international shipping capabilities.
Previously, Salasa closed its Series A round at $8.6 million in 2020. The round was led by AlSulaiman Group, and saw participation from SVC and 500 Global.
Alaan
UAE-based B2B fintech Alaan raised $48 million in a Series A funding round led by Peak XV Partners (formerly Sequoia Capital India & SEA), with participation from Pioneer Fund, 885 Capital, Y Combinator, 468 Capital, and angel investors.
Founded in 2022 by former McKinsey consultants Parthi Duraisamy and Karun Kurien, Alaan helps businesses manage finances through card issuance, and automated data extraction and consolidation.
Alaan expanded to Saudi Arabia earlier this year and plans to use the fresh funds to further scale across the MENA region and enhance its product offerings.
Earlier, Alaan raised a pre-Series A round of $4.5 million in 2023, backed by Presight Capital, Y Combinator, and angel investors.
Suplyd
Cairo-based digital procurement platform Suplyd raised $2 million in a pre-Series A round led by 4DX Ventures, Camel Ventures, and Plus VC, with participation from Seedstars and existing investors.
Founded in 2022 by Gohar Said, Karim Selima, and Ahmed ElMahdy, Suplyd provides procurement solutions for restaurants by directly connecting them with suppliers.
The firm will use the fresh funding to develop new services and deepen its footprint across Egypt. It had previously raised $1.6 million in a pre-seed round in 2022.
RIFD
RIFD, a Saudi Arabian SME receivables securitization platform, raised strategic investment from global early-stage venture capital firm Antler.
Founded in 2024 by Abdulrahman AlDakheel, RIFD facilitates institutional financing for SME suppliers by securitizing receivables from large, creditworthy corporations, unlocking supply chain liquidity, while maintaining a Shariah-compliant structure.
The funding will support its expansion across Saudi Arabia and the MENA region.
Boxy
Iraq-based logistics aggregator Boxy closed a $1.5 million pre-seed round from EQIQ.
Founded in 2024 by Ahmed Baqer and Mehrshad Pezeshk, Boxy aims to streamline Iraq's fragmented last-mile delivery sector by integrating couriers into a unified shipping platform, offering merchants real-time and optimal shipping options.
Deep.SA
Deep.SA, a Saudi-based artificial intelligence startup, raised $1.2 million in a pre-seed funding round led by Tam Development and Raed Ventures, with participation from other investors.
Founded by Mazen A Melibari, Mohammed Daggas, Mazen Alotaibi, Ahmed Al Suhaim, Fatima Alsaeed, and Ahmad Al Aujan, the company is developing advanced AI solutions for Saudi businesses. The funding will be used to expand operations within the kingdom.
Published by HT Digital Content Services with permission from VC Circle.