Saudi startups have experienced explosive development in recent years. During the first quarter of 2022, venture capital financing quadrupled, with grocery delivery and financial businesses taking the lead. The monarchy has prioritized enterprise as part of its 2030 ambition to broaden the economy away from crude oil.
The second annual LinkedIn Top Startups list is the resource to identify the startups to watch currently, with 10 Saudi firms responding to the difficulties of the time and striving to grow and garner attention in 2022.
LinkedIn's second consecutive leading startups category contains five fintech businesses and ten businesses in the UAE that are attracting notice.
The rating was created by analyzing LinkedIn data in four categories: personnel growth, skilled worker awareness, employee satisfaction, and their capacity to recruit people from other successful organizations.
Postpay provides financial assistance by enabling internet consumers to divide their purchases into installments. The firm has also revealed aspirations to grow far beyond UAE into other Gulf regions.
Sarwa (Abu Dhabi):
Sarwa is a monetary platform that enables customers to engage in global equities and ETFs. In August 2021, the firm secured a $15 million Series B investment round.
Tabby is a Buy Now Pay Later (BNPL) application available in the United Arab Emirates, Saudi Arabia, Kuwait, and Egypt. The business recently completed financial leverage of $150 million, increasing its total to $275 million.
Baraka is a commission-free trading software that teaches people about trading and provides youthful investors with early market access. The application was released in 2021, following a preliminary round of $4 million raised by the firm.
Huspy is a real estate technology firm that enables brokers to market homes for free while providing buyers with financing options for home purchases. In June 2022, the firm received US$37 million in a funding round headed by Seqouia India.