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Saudi Arabia's startup scene is experiencing rapid growth, fueled by significant investments across various sectors. The country is quickly becoming a major hub for new businesses in the Middle East.
Companies like the payments platform Tamara have raised $2.4B in funding. New national carriers such as Riyadh Air are also launching with substantial backing.
Below is our list of 39 Saudi Arabia 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.
Buy It For $97 $297 →Information about the industries, countries, and cities they generally invest in.
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 builds regenerative tourism destinations that set new standards for sustainable development and luxury travel. The developer is behind two of Saudi Arabia's most ambitious projects, The Red Sea and AMAALA, which focus on protecting and enhancing the natural environment.
Diriyah Company develops and manages the transformation of the historic city of Diriyah into a global cultural and lifestyle destination. Their work encompasses the full project lifecycle, including master planning, construction, residential sales, and asset management.
Foodics builds a restaurant management system for the food and beverage industry, covering sales, transactions, and inventory. The platform helps businesses streamline their operations by managing employee schedules and customer relationships all in one place.
Riyadh Air operates as Saudi Arabia's new national airline, aiming to connect the capital with destinations across the globe. The carrier distinguishes itself with a digitally-native approach, integrating technology throughout the entire passenger journey.
Lean Technologies built a universal API to power financial services throughout the Middle East. Their platform gives developers access to their users' financial accounts for real-time data and secure payments.
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 provides a payments platform that allows customers to split their purchases into multiple installments. The service integrates with both online and in-store retailers, offering shoppers a flexible, interest-free way to pay over time.
D360 bank built one of Saudi Arabia's first Shariah-compliant digital banks. They provide a full suite of modern financial services through a user-friendly mobile platform.
Ninja built a quick commerce app to deliver groceries and other essentials to customers in minutes. The service uses a network of local fulfillment centers to enable on-demand, ultra-fast delivery.
HyperPay built an online payment gateway to serve businesses across the Middle East and North Africa. The platform enables merchants to process transactions using a wide range of local and international payment methods.
Our top picks only scratch the surface of the activity happening across the country. Together, the companies below have raised over $10 billion, with much of that funding going to fintech and real estate.
Some are just getting started, while others are already scaling quickly. Here’s a look at the rest of the startups shaping the Saudi Arabian startup ecosystem.
| 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 | |
| Biotech | 2000 | SAR36.2M | Debt Financing | |
| 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 | |
| Retail | 2016 | $141.3M | Venture Round | |
| Fintech | 2017 | $2B | Debt Financing | |
| Analytics | 2024 | $1.7M | Seed | |
| Energy | 1982 | $500M | Debt Financing | |
| 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 | |
| AI | 2018 | $9.6M | Seed | |
| Fintech | 2024 | $4M | Seed | |
| AI | 2023 | $1.2M | Pre-Seed | |
| Food | 2022 | $1.9M | Venture Round | |
| Fintech | 2018 | $6.9M | Series A | |
| Manufacturing | 2005 | SAR844M | Secondary Market |
