Telegram is the most valuable tech company across the Middle East
There are now over 40 tech companies valued above $1B in the Middle East (excluding Israel which is a global tech ecosystem on its own).
Telegram valued at $30.0B is the most valuable tech company in the region, followed by Trendyol Group and Elm
20 of all MENA unicorns are still private (like Tabby, Ninja, or Insider), 10 got acquired, and 13 is public.
44% of companies originated in the UAE, followed by Saudi Arabia (28%) and Turkey (21%).
What are the largest tech companies in the Middle East?
This ranking includes both exited and still-private tech companies in the MENA region, as of July 2026. For complete picture it includes government-owned institutions like Elm or solutions by stc. Ranking excludes Israel-HQ companies (which is a large tech ecosystem on its own). Most valuations are last reported or recently rumoured.
On ZIRP-era valuations: we exclude companies whose latest reported valuation would be most likely enough to hit the list, but which are expected to be now valued significantly lower.
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1
TelegramTelegram is a cloud-based instant messaging platform supporting text, voice, video calls, file sharing up to 2GB, and channels for broadcasts to unlimited subscribers. Available on iOS, Android, Windows, macOS, and Linux, it offers end-to-end encrypted Secret Chats, self-destructing messages, and bot APIs for automation. Telegram operates servers in multiple data centers worldwide, serving users across 200 countries with synchronization across unlimited devices.
$30.0B
–
–
Private
2
Trendyol GroupTrendyol Group is an Istanbul-headquartered e-commerce marketplace dominating online retail in Turkey. The platform offers fashion, electronics, beauty, and groceries from over 250,000 vendors, with same-day delivery in major cities via Trendyol Express logistics. Features include personalized recommendations, live shopping streams, and buy-now-pay-later options. Backed by Alibaba Group since 2018, Trendyol expanded into Europe with operations in Germany, Netherlands, and Poland. Founded in 2010, it processes millions of daily orders through mobile apps and web interfaces.
$16.5B
$3.2B
5.1x
Acquired
3
ElmELM Co is engaged in providing ready-made and customized digital solutions in many areas. Its ready-made solutions serve a broad segment of customers, who can subscribe to different packages of their choosing to meet their needs and suffice business requirements. The services offered by the company include Consulting, Data Analysis and Technical solutions. The segments are Digital Business, Business Process Outsourcing and Professional Services, out of which the majority are from the Digital Business segment.
$14.2B
$2.6B
5.3x
Public
4
NoonNoon is a digital ecosystem powering e-commerce in the Middle East. Dubai-headquartered and launched in 2017, it operates noon.com as the primary online shopping destination alongside noon Daily for groceries, noon Food delivery, NowNow one-hour service, SIVVI fashion, noon VIP membership, and payment gateways. Noon serves Saudi Arabia, UAE, and Egypt with localized logistics. The platform accelerates regional digital economy growth through talent empowerment and consumer-focused services.
$10.0B
–
–
Private
5
TalabatTalabat Holding PLC is engaged in the on-demand online food ordering, delivery, takeaway and groceries and convenience retail marketplace in the MENA region, with operations in the UAE, Kuwait, Qatar, Bahrain, Egypt, Oman, Jordan, and Iraq.
$7.7B
$1.7B
4.2x
Public
6
solutions by stcArabian Internet and Communications Services Co is an information and communication company. The company's revenue mainly comprises of Core ICT Services, IT Managed and Operational Services, and Digital Services. It derives the majority of its revenue from Core ICT Services.
$6.6B
$3.5B
1.7x
Public
7
Presight AIPresight AI Holding PLC provides digital transformation services through big data analytics powered by artificial intelligence. It combines analytics, big data and AI expertise to serve every sector of every scale, to create business and societal value. The group’s world-class omni-analytics platform, TAQ, leverages big data and analytics to deliver cutting-edge Al technology, enabling forecasting and the anticipation of outcomes to support insight-driven, decision making that shapes policy and delivers societal impact.
$5.3B
$825M
5.8x
Public
8
Dream GamesDream Games is an Istanbul-based mobile gaming studio that develops and publishes casual games such as Royal Match. The company focuses on long-lasting titles blending technology and creativity for global audiences across iOS and Android platforms.
$5.0B
$1.5B
3.3x
Acquired
9
OdineOdine Solutions Teknoloji Ticaret ve Sanayi AS is a company whose systems integration and software technology expertise delivers revolutionary solutions for Tier 1 SDN, virtualization, and cloudification. It is a communication solutions company that enables international telecoms companies to evolve with a sustainable approach. With market technology, holistic solutions, and collaborative partnership, It will support the clients to reinvent its value creation formula.
$4.7B
$40M
115.8x
Public
10
TabbyTabby is a Dubai-headquartered buy-now-pay-later provider operating in UAE, Saudi Arabia, and Kuwait. Founded in 2020 as a unicorn valued at $3.5 billion, it partners with 20,000 retailers like IKEA and Adidas for interest-free installments over four payments. The platform serves 5 million users with virtual cards and credit limits up to AED 20,000.
$4.5B
$378M
11.9x
Private
11
DeribitDeribit is an UAE-headquartered derivatives exchange for cryptocurrencies. The platform lists European-style options and futures on Bitcoin, Ethereum, Solana, and altcoins with expiries weekly to quarterly. Deribit dominates crypto options liquidity, offering delta hedging, straddle strategies, and portfolio margin across accounts. Institutional features include API trading, subaccounts, and OTC desk for large blocks. Spot markets for BTC, ETH carry zero maker fees with seamless fiat onramps via bank wires.
$2.9B
$300M
9.7x
Acquired
12
RasanRasan Information Technology Co is engaged in online wholesale, electronic publishing, ready software publishing, systems analysis, design and customization of program software, software maintenance, web page design, setting up of web page hosting infrastructure, providing SMS design, and website design. Currently, it is engaged in providing insurance aggregator, online auto auction, and online leasing insurance services. The company's operating segments include Tameeni-Motors, Tameeni-Health, Leasing, Awal Mazad, and R Solutions. Maximum revenue is derived from the Tameeni Motors segment which offers a B2C digital platform providing vehicle owners access to motor insurers.
$2.9B
$180M
14.9x
Public
13
Network InternationalNetwork International is a Dubai-headquartered provider of digital payment solutions across the Middle East and Africa. Established in 1994, the company offers merchant acquiring, processing for credit and debit cards, ATM management, and consumer finance applications as a principal member of Visa and MasterCard in the UAE. Network International supports banks, retailers, and financial institutions with tailored consultancy for card programs.
$2.8B
$438M
6.3x
Acquired
14
InsiderInsider is a Turkey-founded growth management platform serving over 1,200 brands worldwide. Founded in 2012, it uses AI-driven personalization across web, apps, and ads to optimize customer journeys from acquisition to revenue. Notable clients include Samsung, IKEA, and McDonald's, with operations in 28 countries.
$2.5B
$200M
12.5x
Private
15
GetirGetir is an Istanbul-headquartered ultrafast delivery service operating in urban markets across Turkey, Europe, and beyond since 2015. Users order groceries, essentials, and pharmacy items via mobile app with credit card payments, receiving deliveries in 10-15 minutes tracked live. The network employs dark stores for rapid fulfillment, serving millions through localized warehouses in cities like London, Berlin, and Milan before scaling back some international operations.
$2.5B
$800M
3.1x
Acquired
16
1inch1inch is a decentralized exchange aggregator operating across 10 blockchains including Ethereum, BNB Chain, Polygon, and Arbitrum. Headquartered in DIFC, UAE, and operated by Degensoft Ltd in BVI, it offers smart routing for optimal swaps, a non-custodial wallet, fusion mode for gasless trades, and institutional APIs for high-volume liquidity access.
$2.3B
–
–
Private
17
Space42Space42 PLC offers geospatial and data analytics/artificial intelligence (AI), The company combines and creates opportunities for synergies across data analytics, geospatial intelligence, and satellite communications to unlock value for customers, partners, and shareholders. Its operating segments involve Yahsat Space Services (YSS); and Bayanat Smart Solutions (BSS). Bayanat Smart Solutions (BSS) segment derives maximum revenue. It provides earth observation and geospatial solutions using a multi-sensor system, advanced data analytics using GIQ platform, and industry-specific solutions using advanced Artificial Intelligence (AI). Geographically, the company operates in United Arab Emirates, Asia, Europe, Africa, North America, and Others.
$2.2B
$577M
2.6x
Public
18
Aleph GroupAleph Group is a global infrastructure provider accelerating digital advertising and fintech in over 130 high-growth markets. Operating from 90 offices with exclusive partnerships to more than 55 platforms like Google and Meta, it integrates media and payments for compliant transactions. Its Digital Ad Expert program, endorsed by UNESCO, has trained 850,000 learners across 140 countries since inception.
$2.0B
–
–
Private
19
Property FinderProperty Finder is a Dubai-headquartered digital real estate marketplace operating in the UAE, Saudi Arabia, Egypt, Qatar, Bahrain, and Turkey. The platform lists verified residential and commercial properties via web and mobile apps, enabling searches for apartments in Dubai Marina or villas in Riyadh suburbs. Professionals use tools like myCRM Pro for lead management with API support, Data Finder for market analytics, Lead Tracker for engagement monitoring, Mortgage Finder for financing options, and Online Masterclass for training.
$2.0B
$117M
17.1x
Acquired
20
Al Moammar InformationAl Moammar Information Systems Co is an Information Technology(IT) company. It offers operating systems, system analysis, software designing and programming, software maintenance, web design, web hosting, data processing, and other related services. The company's segments include a Business Services Management unit, a Solutions unit, a Systems unit, an IT security unit, a Networking unit, an Operations and maintenance unit, and a Data center unit.
$1.9B
$350M
6.1x
Public
21
Alef EducationAlef Education Holding Plc is an EdTech company that designs impactful learning experiences for students customized to different curriculums. The company operates in three segments: The Education solution segment, which provides customers the right of access to the Group’s learning platform. The Support and services segment includes ancillary services such as IT infrastructure setup and maintenance support and services, and the Financial investments segment pertains to the maintenance of the investment portfolio for returns based on market dynamics. The majority of its revenue is generated from the Education solution segment.
$1.9B
$210M
8.1x
Public
22
Peak GamesPeak Games is an Istanbul-based mobile gaming studio founded in 2010, specializing in casual puzzle and match-three titles. Flagship games Toon Blast and Toy Blast generate over 12 million daily active users, consistently ranking in the top U.S. iPhone grossing charts. The company emphasizes autonomous teams for rapid development and global monetization.
$1.8B
$600M
3.0x
Acquired
23
D360 bank
$1.6B
–
–
Private
24
eFinanceE-Finance For Digital And Financial Investments SAE is developing integrated platforms in Egypt's digital revolution. It is a fintech platform and developer of digital payments infrastructures. The company invests in platforms and solutions that serve everyone from government agencies to ordinary consumers. The business has seven operating segments; Services and operation of cards, Integrated solutions, installation, and technical support services, card center services, hosting services, maintenance and network contracts, and others. It derives a majority of its revenue from the Services and operation of the cards segment.
$1.6B
$137M
11.0x
Public
25
KitopiKitopi is a Kitchen as a Service platform enabling restaurants to launch delivery-only venues with managed kitchens and software infrastructure. Operating in the United Arab Emirates, Saudi Arabia, Kuwait, and Bahrain since 2018, it supports rapid expansion for food brands minimizing upfront investments. The model facilitates virtual restaurant concepts across the Gulf region.
$1.6B
–
–
Private
26
NinjaNinja is an Abu Dhabi-based quick commerce operator delivering groceries and daily essentials within 10 minutes. Launched in UAE, it operates dark stores in major cities and expands through hyperlocal fulfillment networks.
$1.5B
–
–
Private
27
XPANCEOXPANCEO is a deep tech firm developing smart contact lenses as interfaces for AI-powered XR computing. The invisible, weightless lenses enable XR experiences merging real and digital worlds for social media, content, gaming, health monitoring, night vision, and zoom. Features include privacy and security protocols. Detailed at xpanceo.com.
$1.4B
–
–
Private
28
AIQAIQ is an Abu Dhabi-headquartered provider of cloud infrastructure solutions tailored for energy and utilities sectors in the Middle East. The company delivers high-performance computing for oil and gas simulations, partnering with ADNOC for AI-accelerated seismic data processing. Established in 2019 as a joint venture with G42, AIQ operates data centers in the UAE supporting petabyte-scale workloads.
$1.3B
$72M
18.7x
Acquired
29
FawryFawry For Banking Technology And Electronic Payment is engaged in providing operations services specialized in systems and communications, management, operating and maintenance of equipment's and computers networks services and internal systems of banks, networks, and centralized systems, establish operating systems for banking services through the internet, phone and e-payment services and circulation of secured documents electronically, and renting properties.
$1.3B
$181M
6.7x
Public
30
stc paystc pay is a Riyadh-headquartered digital wallet application and subsidiary of stc Group in Saudi Arabia. Aligned with Vision 2030, it enables secure mobile payments, money transfers, and merchant connections using stc's telecom network. The platform covers daily transactions for consumers and businesses, including bill payments and QR code scanning.
$1.3B
$278M
4.8x
Private
31
OptasiaOptasia is a B2B2X AI-powered fintech platform covering scoring, financial decisioning, disbursement and collection. The company operates across Africa, the Middle East, Asia, Europe, and Latin America. Its services include: Micro Lending, Airtime Advance, and Data Monetization.
$1.2B
$265M
4.5x
Public
32
MagnatiMagnati is a UAE-based payment solutions provider serving retail, hospitality, government, and e-commerce sectors. Founded in 2021 and headquartered in Abu Dhabi, it processes transactions through POS terminals, online gateways, and mobile apps supporting contactless and NFC payments. The company integrates with over 100 acquirers and issues virtual cards for B2B payments across the Middle East.
$1.1B
–
–
Acquired
33
Electric Vehicle Infrastructure CompanyElectric Vehicle Infrastructure is a supplier of AC and DC fast-charging stations for electric vehicles in Saudi Arabia. Headquartered in Riyadh, the company deploys charging networks at highways, malls, and residential areas supporting CHAdeMO, CCS, and Tesla protocols. Launched in 2021, it operates over 200 stations nationwide and collaborates with Aramco and Public Investment Fund initiatives to expand EV adoption in the Kingdom.
$1.1B
–
–
Private
34
HepsiburadaD-MARKET Electronic Services & Trading offers an e-commerce platform in Turkey and the surrounding region. The company is comprised of one reportable segment, namely e-commerce operations. The Group derives revenue from the sales of goods, marketplace revenues and other revenues.
$1.1B
$1.9B
0.5x
Public
35
CadenaCadena is a Dubai-based international business development firm featuring a Discovery Portal with over 2 million global prospects. AI tools BuyBeacon and IntelliConnect prioritize leads using machine learning for GCC, North America, and APAC markets. An accredited Enterprise Sales Team navigates local regulations and cultures. CadenaPay employs predictive analytics for B2B payment risk assessment and invoice factoring services.
$1.1B
–
–
Private
36
MidasMidas is a Mumbai-headquartered digital brokerage platform offering commission-free trading in U.S. equities, Indian stocks, mutual funds, and cryptocurrencies. Regulated by SEBI, the app provides access to NYSE, NASDAQ, and NSE exchanges with real-time quotes, zero custody fees, and margin trading facilities. Founded in 2021, it serves Indian investors through a mobile-first interface supporting U.S. options and IPO access alongside demat accounts for domestic markets.
$1.0B
–
–
Private
37
Andalusia LabsAndalusia Labs is a blockchain infrastructure provider building tools for decentralized economic systems. The company develops protocols for token issuance, liquidity management, and cross-chain interoperability, supporting web3 applications in DeFi and digital asset markets.
$1.0B
–
–
Private
38
Loom GamesLoom Games is a mobile studio crafting hybrid-casual puzzle games with innovative mechanics for broad player engagement.
$1.0B
–
–
Acquired
39
MNT-HalanCairo-based MNT-Halan provides microfinance lending, digital payments, and banking services in Egypt. The company offers mobile wallets, debit cards, installment plans, and e-commerce financing through its app, targeting unbanked populations. MNT-Halan operates across urban and rural areas, partnering with merchants for cashless transactions and expanding into insurance products.
$1.0B
$300M
3.3x
Private
40
Advanced Digital Gaming TechnologyAdvanced Digital Gaming Technology (ADGT) is a UAE-based fintech platform offering payments and data intelligence for regulated digital markets, including commercial gaming.
$1.0B
–
–
Private
41
The Open PlatformThe Open Platform is an UAE-headquartered venture studio building Web3 consumer applications. It co-founds startups in decentralized social networks and gaming, providing product development and go-to-market expertise. Since 2021, it has launched five projects including NFT platforms and has raised $20 million for its portfolio, partnering with founders to scale on Ethereum and Polygon.
$1.0B
–
–
Private
42
TamaraTamara is a buy-now-pay-later platform that enables installment payments for online shopping across Saudi Arabia and the GCC region. Headquartered in Riyadh with additional offices in the United Arab Emirates, Egypt, Germany, and Vietnam, the company launched operations in September 2020. Tamara partners with major retailers such as SHEIN, Jarir, Noon, IKEA, and H&M alongside thousands of local merchants to facilitate flexible payment options for consumers.
$1.0B
$360M
2.8x
Private
43
SallaSalla is a Riyadh-headquartered e-commerce platform tailored for Saudi Arabia and Arabic-speaking markets. Merchants build branded online stores with custom domains, manage inventory via web and mobile apps, generate automatic invoices, integrate with Instagram shopping, access customer databases, apply discounts, and utilize analytics reports for sales optimization.
$1.0B
–
–
Private
Data and methodology
Underlying data
Public markets data is powered by FactSet (consensus analyst estimates), and Morningstar (historical data). Data points are calendarized to December where relevant: retrieved data on financial year ends (e.g. FY, FY+1 etc.) are mapped to calendar years (2025A, 2026E etc.) before the appropriate month weights are then applied to prior/future fundamentals.
Private transaction data is multi-sourced, aggregated from harvesting public information, 3rd party APIs, and data engineering. All data is verified and provided with an extensive manual process. If data permits, we apply our own logic to get to the EV. For example, for a large M&A deal with available information on the target's net debt, we might adjust a valuation to fully reflect an accurate EV. In all other cases, we take the reported valuation as the numerator. Financials: we source LTM revenue and LTM EBITDA data from company filings, press releases, or other verified sources. If LTM data is unavailable, we take the 'next best-fit' period (run-rate or calendar year), provided it makes sense in a given case. For example, if a deal closed in November 2025, we might take full-year 2025 revenue as a revenue benchmark.
Any raw figures are harmonised to USD for comparison purposes.
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