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Riyadh is quickly becoming a major center for new businesses in the Middle East. The city's startup scene includes a mix of technology companies and large development projects.
Companies like the payments platform Tamara have raised $2.4B in funding. Meanwhile, regenerative tourism project Red Sea Global secured SAR2B in debt financing.
Below is our list of 32 Riyadh startups worth keeping an eye on.
Everything you need to raise funding for your startup, including 3,500+ investors, 7 tools, 18 templates and 3 learning resources.
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Get the Sheet for $50Information about their valuation, HQ's location, founded year, name of founders, funding amount and number of employees.
Get the Sheet for $50List of startup investors in the BioTech, Health, and Medicine industries, along with their Twitter, LinkedIn, and email addresses.
Get the Sheet for $50List of 250 startup investors in the AI and Machine Learning industries, along with their Twitter, LinkedIn, and email addresses.
Get the Sheet for $50List of 250 startup investors in the FinTech and Finance industries, along with their Twitter, LinkedIn, and email addresses.
Get the Sheet for $50Red Sea Global develops some of the world's most ambitious regenerative tourism destinations along the coast of Saudi Arabia. The company is pioneering a new model of sustainable hospitality through its key projects, The Red Sea and AMAALA.
Diriyah Company spearheads the development of a major cultural and historical destination in Saudi Arabia, turning the ancient city of Diriyah into a modern hub. They handle all aspects of the giga-project, from initial planning and property development to sales, leasing, and investment solutions.
Foodics developed an all-in-one management system that gives restaurants control over sales, transactions, inventory, and staffing. Their platform centralizes daily operations, from employee scheduling to customer relationship management, into a single dashboard.
As Saudi Arabia's newest national airline, Riyadh Air plans to connect the capital to more than 100 destinations worldwide. They are building a digitally-native, full-service carrier with a strong emphasis on the passenger experience.
Lean Technologies builds a fintech API that powers financial products with data and payment tools. The platform allows developers to securely access customer bank data, making it easier to launch new financial services.
Erad built a fintech platform that provides revenue-based financing for small and medium-sized businesses. This non-dilutive funding helps companies access working capital to scale operations without giving up equity.
Tamara created a leading buy-now-pay-later platform for shoppers in the Middle East. Their service allows customers to split payments for online and in-store purchases into multiple interest-free installments.
D360 Bank launched one of the first digital banking platforms in Saudi Arabia, offering Sharia-compliant services for individuals and small businesses. Their mobile-first approach provides users with tools for account management, secure payments, and personal finance.
Ninja developed a quick commerce platform for delivering groceries and other essentials across Saudi Arabia. Their app promises delivery within minutes, bringing a wide range of products directly to a customer's door.
HyperPay has developed an online payment gateway that serves businesses throughout the Middle East and North Africa. Their platform equips merchants with the tools to accept a wide range of digital payments, send payouts, and issue cards.
Our top ten picks are just the beginning of the story in Riyadh. Across the city, founders in fields like fintech and logistics have raised billions of dollars to build their companies.
Some companies are just getting started, while others are already growing quickly. Here’s a look at the other companies shaping Riyadh's startup scene.
| Startup | Industry | Year Founded | Amount Raised | Last Funding Round |
|---|---|---|---|---|
| Analytics | 2017 | $10M | Series A | |
| Travel | 2017 | $85M | Series B | |
| Fintech | 2020 | $16M | Venture Round | |
| Mobility | 2022 | $2.2B | Debt Financing | |
| Fintech | 2016 | $164.1M | Series B | |
| Fintech | 2018 | $8M | Seed | |
| Logistics | 2020 | $9.9M | Convertible Note | |
| Logistics | 2016 | $335.4M | Debt Financing | |
| Fintech | 2019 | $775.2M | Debt Financing | |
| Marketplace | 2021 | $22M | Series A | |
| Fintech | 2022 | $1.9M | Pre-Seed | |
| Fintech | 2017 | $2B | Debt Financing | |
| Analytics | 2024 | $1.7M | Seed | |
| Crypto | 2022 | $2.4M | Seed | |
| AI | 2019 | $1.9B | Series E | |
| SaaS | 2022 | $2.5M | Seed | |
| Real Estate | 2020 | SAR11B | Debt Financing | |
| Cloud | 2006 | $146M | Series B | |
| Fintech | 2023 | SAR11M | Seed | |
| Analytics | 2016 | $5M | Seed | |
| Fintech | 2024 | $4M | Seed | |
| AI | 2023 | $1.2M | Pre-Seed | |
| Fintech | 2018 | $6.9M | Series A |
