Founding MENA #37
Welcome to the Founding MENA newsletter, bringing you the top stories from across the region every week.
I hope you find the newsletter insightful, but I’m always open to feedback and suggestions. Let’s get into it!
How does $50k to finally launch your startup sound?
Founding MENA has partnered with Replit so that on Saturday, 31st October, 100 of MENA’s most ambitious builders will come to Dubai to achieve one goal:
Launch a real business.
The prize:
- $25,000 in cash to the winning team from 21 Ventures.
- $50,000 total prize pool. Partner-backed support to get the business off the ground: infrastructure, credits, and the introductions that matter.
Partners to be announced over the coming weeks.
The room: 100 people. That’s it.
Anyone can apply, but we’re looking for people who’ve been sitting on an idea and are ready to move on it.
Solo builders and pairs only; teams of 2 max.
If you’re already running a revenue-generating business, this isn’t for you.
The judges: Some of the most respected entrepreneurs and investors in MENA. Names announced closer to the day.
Applications close Saturday, 17th October. Decisions will be shared 2 weeks before the event.
Apply here.
💰 Investment Rounds
- 🇪🇬 EFG Holding secured $40M in a four-year senior unsecured EBRD loan to expand MSME financing. See more here.
- 🇪🇬 Paymob raised $35M in pre-Series C co-led by Mubadala Investment Company and EBRD. See more here.
- 🇸🇦 TalMal secured undisclosed pre-seed investment from MM Partners. See more here.
- 🇸🇦 AREP raised undisclosed pre-seed funding led by Golden Assets Investment. See more here.
📰 Startup News
Another acquisition by Huspy?!
Huspy just made its fifth acquisition and this one opens an entirely new country.
The company has been quietly building one of the most acquisition-driven growth strategies in MENA proptech.
LuxuryX in Dubai earlier this year. Now Integra Finance in Italy, backed by an $86 million investment plan.
Huspy now operates in 15 cities across the UAE, Spain, Saudi Arabia, and Italy.
It handles approximately 25% of residential mortgages in the UAE. It facilitates around $1 billion in transactions every month.
Integra Finance has 160+ advisors, 50+ banking and insurance partners, and an established mortgage, loan, and personal finance book.
Huspy brings the technology, the infrastructure, and an $86 million capital commitment to scale it.
Italy is the right market for this bet. A vast network of real estate professionals. A transaction volume that makes technology-driven efficiency valuable. A market that has been slow to digitise. And a UAE-Italy economic relationship that is deepening.
Read more here.
That’s all for this week, thanks! Sam.
First published 28 Sep 2026 on Substack
The week in MENA tech, every Monday. Free.
Keep pulling this thread
