19 newcomers join Forbes Middle East’s Top 50 most-funded startups 2022

19 newcomers join Forbes Middle East’s Top 50 most-funded startups 2022

- The 50 most-funded startups in MENA have raised nearly $3.2 billion in combined funding.

- The U.A.E. has 18 startups on the list, followed by Saudi Arabia with 12 and Egypt with 11.

- Fintech firms made up 42% of the list, with 21 startups attracting $1.3 billion in funding.

Amman Jordan: Forbes Middle East has released its annual list of MENA's Top 50 Most-Funded Startups, celebrating the mission-driven young businesses attracting investor attention. Combined, the 50 startups on the 2022 list have raised $3.2 billion in funding, up from $3 billion in 2021.

The startups had to have been founded no earlier than 2015 and have raised a minimum of $20 million in total funding to be considered for the list. Startups that were acquired, merged, went public on stock markets, or didn't provide sufficient data on funding and investors, were excluded. Cut off for funding was November 10, 2022.

Agri-tech business Pure Harvest Smart Farms climbed from second place in 2021 to secure the top spot this year, having raised $387 million in total funding. In June 2022, the U.A.E.-based startup formed an alliance with Al Dahra Group, increasing the total operating capacity under its management to over 22 hectares. Buy-now-pay-later Fintechs