Riyadh – Sharikat Mubasher: 63 startups from the Middle East and North Africa (MENA) region managed to secure $282 million collectively, a 234 percent increase month-on-month and a 607% rise year-on-year.

Saudi Arabia’s startup ecosystem came at the forefront accounting for 60% of the MENA region’s funding in September, with $170.8 million raised across 23 deals, according to The Digital Digest's monthly report.

The UAE ranked second with $73.8 million raised by 12 startups, while Egypt trailed, with 13 startups raising $25 million.

UAE-based fintech ABHI raised $15 million in debt financing in a round led by Shorooq Partners and Amplify Growth Partnership, meanwhile, Egyptian micromobility startup Rabbit Mobility closed a $1.3 million investment round led by 500 Global and Untapped Global.

Fintech continued to capture investor attention in the MENA region for the fourth consecutive month, attracting $102.5 million across 14 startups.

Saudi edtech startup AILA closed a $1.15 million pre-seed round led by Sabah Hub, with participation from White Hill Capital and three other angel investors, while Saudi-based investment community Tawaref acquired local AI company Amaana.ai for an undisclosed amount.

Mobility followed closely, driven by a substantial funding round for SHIFT. E-commerce and educational tech sectors showed strong activity, raising $63 million and $4.35 million, respectively, each with nine deals.

Saudi mobility startup SHIFT led the month’s funding rounds by raising $82.8 million, followed by online car marketplace Syarah, which secured $60 million in a series C round, including $20 million in debt financing.

The software-as-a-service sector saw $10 million in investments across eight startups.

Accelerator programs had a notable impact on deal volume, with Flat6Labs’ demo days in Jordan and Saudi Arabia accounting for 17 deals valued at a combined $2 million.