The UAE has continued to establish itself as a key player in the global startup ecosystem in 2024, with an impressive array of startups securing significant funding across various sectors. From fintech to SaaS solutions, these ventures are revolutionizing industries and driving innovation within the country. This article highlights some of the most prominent investment rounds in the UAE in 2024, focusing on the dynamic growth of companies that are shaping the future of the nation’s business landscape.

Eyewa

Founded in 2017 by Mehdi Oudghiri and Anass Boumedien, Eyewa is a UAE-based eyewear retailer that offers a wide range of eyewear products through both online and physical stores. In 2024, the company raised $100 million in its Series C funding round, led by General Atlantic, with participation from Badwa Capital and Turmeric Capital. The funding will support Eyewa’s expansion plans, including the opening of 100 new stores in 2025 and the launch of a production hub in Riyadh, solidifying its position as the region's largest online eyewear retailer.

Lean Technologies

Founded in 2019 by Hisham Al-Falih, Ashu Gupta, and Aditya Sarkar, Lean Technologies is a Saudi Arabia-based fintech platform offering open banking solutions that enable companies to access bank data and make payments. In 2024, the company raised $67.5 million in its Series B funding round, led by General Catalyst, with participation from Bain Capital Ventures, Duquesne Family Office, and Arbor Ventures. The funds will help Lean scale its pay-by-bank and open banking offerings, expand its product range, and deepen partnerships, solidifying its position as a leading fintech infrastructure provider in the MENA region.

Keyper

Founded in 2022 by Omar Abu Innab and Walid Shihabi, Keyper is a UAE-based proptech company offering a platform that digitizes property management and rental processes. The platform enables tenants to track expenses and make online payments, while investors gain access to real estate portfolios and data-driven insights. In 2024, Keyper raised $4 million in equity in a pre-Series A round, led by BECO Capital and Middle East Venture Partners (MEVP), with participation from existing investors and new investors such as Annex Investments and Al Qahtani Investment. The company also secured $30 million in Shariah-compliant Sukuk financing from Franklin Templeton Investments (ME) Ltd., bringing its total capital raised to over $34 million. These funds will be used to scale Keyper's Rent Now, Pay Later (RNPL) solution and digitize the rental experience in the UAE.

FlapKap

In 2024, UAE-based fintech FlapKap raised $34 million in a pre-Series A funding round, combining both debt and equity financing. The round was led by BECO Capital and saw significant new investment from Pact VC, with follow-on contributions from A15, Nclude, QED Investors, and debt financing from Channel Capital. Founded in 2022 by Ahmad Coucha, Khaled Nassef, Sherif Bichara, and Kunal Harisinghani, FlapKap plans to use the new capital to expand its SME financing services across the GCC and the Middle East, as well as optimize its technology infrastructure to launch new trade finance products.

Yuze Digital

Yuze, a UAE-based fintech founded in 2022 by Rabih Sfeir, offers business accounts and financial services to startups, micro, and small businesses in emerging markets, aiming to enhance financial inclusion. In 2024, the company raised $30 million in a funding round led by Osten Investments. This investment will support Yuze’s expansion into new markets and help it reach one million SME and professional customers over the next five years, further solidifying its position as a key player in financial services for underserved businesses.

Tenderd

Tenderd, a UAE-based contech company founded in 2018 by Arjun Mohan, leverages AI to optimize asset utilization and reduce emissions in heavy industries like construction and logistics. In 2024, the company raised $30 million in a Series A funding round, led by A.P. Moller Holding, with new investments from Quadri Ventures and Saurya Prakash, alongside existing backers such as Wa’ed Ventures, Nakhla Ventures, SOMA Capital, and Liquid 2 Ventures. This funding will enable Tenderd to fuel technological innovations, expand its global presence, and integrate AI with physical operations across the construction, mining, and industrial sectors.

Klickl International

Klickl, a UAE-based Web3 banking startup founded in 2017 by Michael Zhao, offers a comprehensive platform that includes banking, digital payments, and crypto trading to facilitate seamless entry into the Web3 ecosystem. In 2024, the company successfully closed a $25 million Series A funding round, bringing its valuation to $125 million. The round was co-led by Web3Port Foundation and Aptos Labs, with participation from Summer Ventures, Heritage Horizon Capital, V2 Capital, Alpha Square Group, Heng Feng Group, Trend Investment, and Bond Group.

Ziina

In 2024, Ziina, the UAE-based fintech founded in 2020 by Faisal and Sarah Toukan, continues to expand its offerings beyond a simple payment solution. Having raised $22 million in a Series A funding round, co-led by US-based Altos Ventures, Ziina is positioning itself as a comprehensive financial platform for both businesses and consumers. The new funding will support the rollout of the ZiiCard, which will offer enhanced features for businesses and individuals to manage their payments, expenses, and digital wallet balances. With a strong focus on SMEs in the UAE, Ziina aims to transform financial services in the region and address the growing demand for digital payment solutions.

UnifyApps

In 2024, UAE-based SaaS solutions provider UnifyApps continues its rapid growth after closing a $20 million Series A funding round, led by ICONIQ Growth and joined by Elevation Capital. This new funding brings the company's total investment to $31 million and will support its expansion across the Middle East. Founded in 2023 by Pavitar Singh, Abhishek Khurana, Rachit Mittal, Sumeet Nandal, Haitham Elkhatib, and others, UnifyApps helps enterprises automate workflows and integrate disparate applications using AI. With a strong presence in Dubai, UnifyApps is well-positioned to capitalize on the region’s increasing demand for AI-driven solutions, offering businesses scalable, code-free automation of their operations.

Fortis

Fortis, a UAE-based fintech startup founded in 2023 by Alberto Caruso, offers a comprehensive POS and CRM solution for small businesses to manage both offline and online transactions. Relocating its headquarters to Dubai in 2024, the company has quickly gained attention for its innovative approach to streamlining business operations. In 2024, Fortis secured $20 million in a Series A funding round led by Opportunity Venture, bringing its total funding to $20 million. The investment will support the company's expansion across the MENA region, with a focus on developing customer-centric services, forming strategic partnerships, enhancing omnichannel capabilities, and expanding its team to meet growing demand.

The successful funding rounds in the UAE in 2024 underscore the country’s growing prominence as a hub for entrepreneurial activity and investment. These startups are not only accelerating their growth but also contributing to the diversification and modernization of the UAE’s economy. With the continued backing of investors, these companies are poised to make lasting impacts on the regional and global markets in the years to come.