Inside MENA’s Fintech Surge: Startups That Raised Big to Disrupt Traditional Finance

Last updated 23-05-2025

6 min

The financial technology (fin-tech) sphere across the Middle East and North Africa (MENA) has witnessed an unprecedented explosion of innovation and investment in recent years. Fueled by rising digital adoption, a tech-savvy younger generation, and increasingly supportive regulations, the region has rapidly turned itself into a global fin-tech hotspot. But which startups are the most promising in their quest to reshape finance and banking throughout MENA?

At Arageek, we closely track the evolution of businesses, startups, and venture capital funding across the Arab world. In this realm, fin-tech startups stand out as dynamic growth-drivers, securing significant investments and introducing groundbreaking solutions across digital payments, lending solutions, savings platforms, and innovative financial services.

Join us to explore the rising MENA fin-tech revolution. Here is a curated list of thriving startups founded in the last two to three years, each of them recently securing substantial funding and setting the stage to redefine the region's financial landscape.

Tarabut Gateway (Bahrain/ UAE) - Open Banking Pioneer
Tarabut Gateway, established in Bahrain and expanded to the UAE, is the first licensed open banking provider in the MENA region. Founded in 2020 by Abdulla Almoayed, this remarkable startup secured $32 million in their recent Series A funding round in 2023. With banks embracing open APIs, Tarabut Gateway is enabling financial institutions to collaborate securely, simplifying transactions and enhancing consumer experience. The company's vision is clear: to accelerate open financial platforms and revolutionize traditional banking relations.

Tabby (UAE) – Revolutionizing MENA Buy Now, Pay Later
Launched in 2020 by Hosam Arab, Tabby has quickly emerged as a leading figure in the region's vibrant Buy Now, Pay Later (BNPL) space. Its accessible and seamless payment solutions resonate strongly with MENA’s younger, digitally-inclined consumers. Impressively, Tabby raised $58 million in equity funding and another $50 million in debt in a Series C round in early 2023. Tabby's success illustrates a broader regional shift toward flexible financing solutions aimed at younger and digitally-native consumers.

Postpay (UAE) – Flexible Payment Solutions at Fingertips
Dubai-based postpay, founded in 2019 by Tariq Sheikh, aims to offer frictionless BNPL solutions to online consumers and merchants across the region. Raising approximately $63.5 million in a recent funding round led by Afterpay and regional investors, postpay is quickly becoming instrumental in transforming online shopping in MENA. Most notably, postpay demonstrates how agile startups can successfully tap into the digital payment ecosystem and capture a substantial market segment swiftly.

YAP (UAE) - Digital Wallet Taking Banking Mobile
Another standout startup driving innovation in digital banking is UAE-based YAP, launched in 2021. YAP secured $41 million Series A financing in 2022, aiming directly at enhancing digital banking accessibility and simplifying money management for everyday consumers. Their app-based financial services platform integrates budgeting tools, spending analytics, instant fund transfers, and solutions designed specifically for digital-first lifestyles. YAP symbolizes a growing appetite among MENA consumers for digital-first financial services platforms.

Lean Technologies (Saudi Arabia/UAE) – Simplifying Fintech APIs
Co-founded in 2021 by Hisham Al-Falih, Lean Technologies is on a mission to empower finance innovators by removing friction around fintech adoption and open-banking APIs. Lean Technologies recently secured a significant $33 million Series A funding round, affirming confidence in their solution for easier banking integration, enabling users across Saudi Arabia and the UAE to enjoy seamless and secure financial data sharing. The startup’s aim is to facilitate further digital finance developments, pushing the region fiercely towards full financial digitization.

Ziina (UAE) – Modernizing the Personal Payments Game
Ziina emerged initially in 2020 as a peer-to-peer (P2P) payments app catering specifically to the UAE market. Founded by Faisal Toukan and his talented team, Ziina raised $17 million in early-stage funding to make its mark in hassle-free money transfers and mobile payments among consumers. Ziina distinctly mirrors the changing societal habit influencing payments: shifting from cash-reliance to digitally-enabled mobile payments.

Pluto (UAE) – Empowering SMEs in Digital Financial Management
Pluto, a fintech platform launched in 2021 by entrepreneur Mo Aziz, addresses a critical market segment: small and medium enterprises (SMEs). The company obtained a fresh $6 million seed round financing in early 2023, targeted explicitly at facilitating SMEs' financial management, invoicing, payments, and payroll through one intuitive platform. Pluto’s comprehensive solution highlights the region’s urgent need—and massive market potential—for SME-centric fintech solutions.

NymCard (Lebanon/UAE) – Simplifying Payments Infrastructure
Founded in Lebanon and now headquartered in UAE, NymCard simplifies complex card issuance processes for fintech startups and financial institutions. Established by fintech veteran Omar Onsi, NymCard's cloud-based, API-driven platform secured $22.5 million Series A funding in 2022. Its novel solutions enable frictionless market entry for fintech startups needing rapid, scalable, and customized payment solutions – unlocking immense opportunities regionally.

Khazna (Egypt) – Financial Inclusion Champion
Khazna financial inclusion in Egypt with a robust digital banking alternative founded in 2020 by Omar Saleh and Fatma Hassanin. The Egyptian startup secured a substantial $38 million Series A fund early in 2022. Khazna is pioneering breakthrough financial solutions empowering unbanked and underserved communities to access digital savings, payments, credit, and insurance. Its focus on underserved segments underpins a shift towards democratizing financial services.

Telr (UAE/Saudi Arabia) - Digital Payments Powerhouse
Telr, founded by Khalil Alami and headquartered in the UAE, offers powerful digital payment gateway services aimed at SMEs and startups across Saudi Arabia and UAE. Recently raising $15 million funding round in 2022, Telr aims to empower merchants across various industries to smoothly handle digital payment transactions, making it a vital enabler for the region’s rapidly expanding digital commerce operations.

Across every facet of finance, innovative MENA startups have secured significant investment rounds and carved pathways toward better financial inclusion, convenience, sustainability, and digitization. Undoubtedly, fintech technology in MENA reflects excitement, promise, and growth opportunities.