Startup Wrap: Tabby Cash passes 1m accounts as MENA funding slumps

RIYADH: Fintech stayed active as startup funding across the Middle East and North Africa fell 96 percent in October, as Tabby Cash passed 1 million accounts and Wafr raised pre-seed funding for sukuk.

Startups across the region raised just $40 million across 32 deals in the 10th month of the year, according to Wamda and Digital Digest.

Not only is at a monthly drop of over a $1 billion, it also represents a 95 percent decline from the $784.9 million recorded in October 2025.

The headline fall was magnified by the lack of megadeals.

Whereas September had been lifted by three Saudi fintech deals worth a combined $762.5 million, while October had no later-stage rounds.