The UAE has a thriving startup scene, with new companies emerging all the time. Here are some of the fastest-growing startups in the UAE in 2023:
- Fenix Games is a mobile game developer that raised $150 million in funding in 2022. The company is behind popular games such as “AFK Arena” and “Lords Mobile.”
- Alaan is a digital insurance platform that raised $50 million in funding in 2022. The company offers a variety of insurance products, including car insurance, home insurance, and travel insurance.
- Tabby is a buy now, pay later platform that raised $55 million in funding in 2022. The company allows users to purchase items online and pay for them in installments.
- The Giving Movement is a social enterprise that sells clothing and accessories to raise money for charity. The company has raised over $10 million since it was founded in 2020.
- Huspy is a mortgage fintech company that raised $47 million in funding in 2022. The company makes it easier for people to get mortgages by offering a digital application process.
Other notable fast-growing startups in the UAE include:
- Ziina is a peer-to-peer payment platform.
- zenda is a digital banking platform for businesses.
- Flare Network is a blockchain platform for smart contracts.
- YallaMarket is an online grocery delivery platform.
- Nümi is a digital wallet for cryptocurrency.
- NymCard is a prepaid debit card that can be used to spend cryptocurrency.
- Tarabut Gateway is a financial technology company that provides payment processing solutions for businesses.
These startups are helping to drive innovation and economic growth in the UAE. They are also creating new jobs and opportunities for people in the region.
The Fastest Growing Startups in the UAE
The United Arab Emirates (UAE) has emerged as a global hub for innovation and entrepreneurship, with a thriving startup ecosystem that has attracted significant investment and talent. From fintech to healthcare, these fast-growing startups are driving digital transformation and economic growth in the region. Here are some of the top startups to watch in the UAE:
- Ziina: Founded in 2020, Ziina is the first peer-to-peer payment software in the UAE, making money exchange easier and faster than ever14. The startup has raised a total funding amount of $8 million and is revolutionizing the way people in the UAE transact and manage their finances.
- Eureeca: This crowdfunding platform connects businesses with investors, allowing them to raise capital and grow their operations3. Eureeca has been recognized as one of the top fintech startups in the UAE and has played a significant role in the growth of the country’s startup ecosystem2.
E-commerce and Retail Startups
- Noon: Launched in 2017, Noon is a leading e-commerce platform in the Middle East, offering a wide range of products and services to customers in the UAE and beyond3. The startup has experienced rapid growth and has attracted significant investment, positioning itself as a key player in the region’s e-commerce industry.
- Washmen: This on-demand laundry and dry-cleaning service has gained popularity in the UAE, providing customers with a convenient and efficient way to take care of their laundry needs2. Washmen’s innovative business model and focus on customer experience have contributed to its success in the region.
- Vezeeta: Founded in 2012, Vezeeta is a leading digital healthcare platform in the Middle East, connecting patients with healthcare providers and enabling them to book appointments online3. The startup has been instrumental in improving access to healthcare services in the UAE and has attracted significant investment from both local and international investors.
- Altibbi: This telehealth platform provides users with access to a network of doctors and healthcare professionals, allowing them to receive medical advice and consultations remotely3. Altibbi has experienced rapid growth in the UAE, driven by the increasing demand for telehealth services in the region.
Transportation and Mobility Startups
- EKar: This car-sharing platform allows users to rent cars on a short-term basis, providing a cost-effective and convenient alternative to traditional car ownership2. EKar has been recognized as one of the top startups to watch in the UAE and has played a significant role in the growth of the country’s sharing economy.
- Carpool Arabia: This carpooling platform connects drivers and passengers, allowing them to share rides and reduce their carbon footprint3. Carpool Arabia has gained popularity in the UAE, providing users with a sustainable and cost-effective transportation solution.
These are just a few examples of the many fast-growing startups in the UAE, driving innovation and economic growth in the region. With a supportive business environment, access to funding, and a talented workforce, the UAE is well-positioned to continue its growth as a global hub for entrepreneurship and innovation.
Here are some of the fastest-growing startups in the UAE:
- PISIQ: A research and development group that focuses on fostering prospective talents and startups to improve people’s lives. They operate in areas such as artificial intelligence, consulting, information technology, internet, and product research. Founded in 2016, PISIQ has received $32,890,000 in funding across 3 rounds from 5 investors1.
- Careem: Known for creating an app that assists Dubai commuters in finding a car to rent, Careem operates in customer service, logistics, public transportation, ride-sharing, and transportation. Founded in 2012, they have raised a total of $771,700,000 across 7 funding rounds from 22 investors1.
- Kitopi: Providing the fuel for the on-demand food industry, Kitopi operates in cloud infrastructure, delivery, food and beverage, food delivery, restaurants, SaaS, and software. Founded in 2018, they have secured $89,000,000 in funding across 3 rounds from 12 investors1.
- Ziina: Introducing the next generation of financial services in the Middle East, Ziina is the first peer-to-peer payment software in the UAE. Founded in 2020 by Andrew Gold, Faisal Toukan, and Sarah Toukan, they operate in financial services and fintech. Ziina has raised a total of $8,475,000 across 5 funding rounds from 15 investors1.
- Opontia: Small e-commerce business owners can use Opontia to sell their businesses quickly and fairly. Founded in 2021 by Manfred Meyer and Philip Johnston, Opontia operates in brand marketing, e-commerce, and retail1.
These startups are contributing significantly to the UAE’s vibrant entrepreneurial ecosystem and attracting investor attention. Their innovative approaches and rapid growth demonstrate the thriving startup landscape in the region.
- LinkedIn’s annual ranking for 2022 included startups like ekar, Postpay, Pure Harvest Smart Farms, The Giving Movement, Right Farm, Tabby, Sarwa, Baraka, Opontia, and Huspy2.
- The UAE has more than 350 VC firms and over 50 accelerators supporting startups3.
- The average Seed Round investment in UAE startups is approximately $1.3 million3, while the average Series A funding stands at around $14 million3.
These startups are shaping various industries within the UAE economy and contributing to its growth.
Please note that this information is based on available data up to a certain point in time (as mentioned in the sources), and there may be additional startups emerging since then.