Top Well-Funded Fintech Companies in the Middle East and Upcoming 2025 UAE Events

In 2022, technology startups in the Middle East and North Africa (MENA) region continued to attract funding, securing a total of US$1.8 billion in the first half of the year, a sum that represents a 46% year-over-year (YoY) increase, data from Magnitt show. The momentum continued during the second half of 2022 with numerous large sized deals being closed. A new report by Forbes Middle East shows that the top 50 most-funded tech startups in MENA raised a total of US$3.2 billion in 2022, a 6.7% YoY increase compared to 2021’s US$3 billion. This indicates that despite the global funding contraction, MENA tech startups continue to attract the interest of investors.

The 2022 ranking, which lists the region’s most well-funded tech startups, shows that fintech has so far been a favored sector. Of the 50 companies part of the list, 21 are from the fintech industry, attracting a total of US$1.3 billion in funding so far. In addition to these 21 companies, three originate from other segments but have since expanded to banking and financial services. Today, we look at the top fintech companies of the list, looking at what they’ve been up to, their latest moves, and what we can expect from them in the year to come.

Overview of Funding for Leading Fintech Startups

• Tabby: US$275 million (UAE)
• Tamara: US$216 million (Saudi Arabia)
• Yassir: US$193.25 million (Algeria)
• Rain Financial: US$118 million (Bahrain)
• Paymob: US$68.5 million (Egypt)

Tabby – US$275 million (UAE)

Founded in 2019, Tabby is a buy now, pay later (BNPL) startup originally from the UAE that allows shoppers to slip their purchases into four interest-free payments, online and in-store. Over 5,000 global brands and small businesses, including H&M, Adidas, Ikea, Shein, and Bloomingdale’s use Tabby’s technology, and the company claims more than 2 million active users. Tabby is active in the UAE, Saudi Arabia, Kuwait and recently launched in Egypt. The startup has raised more than US$275 million in funding, its latest round being a Series B extension secured earlier this year. The company said it would use the proceeds to expand its consumer product offering and facilitate its international expansion.

Tamara – US$216 million (Saudi Arabia)

Launched in September 2020, Tamara is a BNPL startup from Saudi Arabia allows customers to slip their payments interest-free at leading retailers including Shein, Namshi, Fitness Time, Faces and Swarovski, in addition to local small and medium-sized enterprises (SMEs). Tamara claims it has attracted over 3 million customers and more than 4,000 partner merchants. The startup has raised US$216 million in equity and debt. Its latest round was a US$100 million Series B equity round secured in August 2022, which it said it would use to expand its product offering across payments and shopping in addition to launching in new markets.

Yassir – US$193.25 million (Algeria)

Founded in 2017, Yassir is a super app from Algeria that provides its users with a suite of on-demand services including ride-hailing, food and grocery delivery, as well as financial services to help users pay, save, and borrow digitally. The company operates in six countries and 45 cities throughout the world, and claims it is used by more than 8 million users, with over 100,000 partners part of its ecosystem. Yassir landed one of the continent’s largest raises of 2022 with a US$150 million Series B in November. The startup has raised $193.25 million in funding so far.

Rain Financial – US$118 million (Bahrain)

Founded in 2017, Rain Financial is a licensed crypto-asset service provider originally from Bahrain. The company provides a platform that allows users to buy, sell and store cryptocurrencies at competitive pricing and fees, giving investors access to more than 70 digital assets. Rain Financial operates in six countries and says it has recorded more than US$2 billion worth of transactions and amassed over 200,000 active users. The startup closed a US$110 million Series B round in January, and according to Forbes, Rain Financial has raised a total of US$118 million in funding.

Paymob – US$68.5 million (Egypt)

Founded in 2015, Paymob is an Egyptian omnichannel payments facilitator in the Middle East, North Africa and Pakistan (MENAP) region. The company offers a comprehensive payments infrastructure that includes over 40 online and in-store payment methods, point of sale (POS) terminals, and the Paymob application. Paymob claims to hold a 87% market share of mobile wallets processed volumes in Egypt, and says it serves over 16.5 million registered users.

Top 10 Fintech Events in UAE 2025

The United Arab Emirates (UAE) continues to establish itself as a global hub for financial technology (fintech), with Dubai and Abu Dhabi leading the charge. In 2025, the UAE will host a plethora of fintech events that will bring together industry leaders, innovators, investors, and enthusiasts from around the world. Here’s a look at the top fintech events in the UAE that you should mark on your calendar:

1. FiNext Awards & Conference (Feburary 12-13, 2025, Dubai): A premier event designed to bring together the brightest minds and leading innovators in the financial technology industry.
2. Seamless Middle East (April 15-16, 2025, Dubai): A comprehensive event that covers fintech, payments, e-commerce, retail, and identity with over 300 speakers and hundreds of exhibitors.
3. Dubai FinTech Summit (June 24-25, 2025, Dubai): A premier event that brings together fintech startups, financial institutions, and investors to cover blockchain, digital banking, and regulatory challenges.
4. Middle East Banking Innovation Summit (September 8-9, 2025, Dubai): This summit is dedicated to exploring the latest innovations in banking technology and digital transformation.
5. GITEX Global (October 6-10, 2025, Dubai): As one of the largest technology events in the world, it features a dedicated fintech section that showcases the latest advancements.
6. Future Blockchain Summit (October 20-21, 2025, Dubai): Dedicated to blockchain technology and its applications in fintech, offering a great opportunity to network with industry pioneers.
7. Abu Dhabi Finance Week (November 3-7, 2025, Abu Dhabi): Focuses on the future of finance, featuring discussions on fintech, sustainable finance, and investment trends.
8. World Blockchain Summit (February 18-19, 2025, Dubai): Gathers blockchain experts and enthusiasts to discuss the transformative potential of blockchain technology in various industries.
9. MENA Fintech Association Annual Conference (May 20, 2025, Abu Dhabi): Focused on the regional fintech ecosystem, offering insights into regulatory developments and market trends.
10. Fintech Abu Dhabi (December 1-2, 2025, Abu Dhabi): A flagship event that highlights the latest trends and innovations in the fintech industry through thought-provoking discussions and startup showcases.