MENA Unicorns - October 2025
Last updated on 06 October 2025
π¦ MENA unicorn update: there are now 27 tech companies valued above $1B in the Middle East (excluding Israel).
β‘οΈ 44% (12) of MENA unicorns are still private (like Tabby, Ninja, Insider, or Papara)
β‘οΈ Most private unicorns is based in π¦πͺ the UAE (42%), πΈπ¦ Saudi and (25%) πΉπ· Turkey (25%)
Methodology: this ranking includes both exited and still-private tech companies in the MENA region. It excludes government-owned consulting institutions like Elm or solutions by stc. It also excludes Israel-HQ companies (which is a large tech ecosystem on its own). Most valuations are last reported or recently rumoured. On ZIRP-era valuations: we exclude companies whose latest reported valuation would be most likely enough to hit the list, but which are expected to be now valued significantly lower.
Company | HQ | Valuation ($ billions) | Revenue ($ billions) | Revenue multiple | Description | Ownership |
---|---|---|---|---|---|---|
Trendyol | :tr: | 16.5 | 4.3 | 3.9 | Turkey's largest e-commerce platform, Trendyol connects millions of shoppers with fashion, electronics, home goods, and various other product categories through its digital marketplace and logistics infrastructure across the region. | π€ Acquired |
Dream Games | :tr: | 5.0 | 1.5 | 3.3 | Turkish mobile gaming studio that develops and publishes puzzle-based titles with a focus on match-3 mechanics, having built a portfolio of casual games that attract millions of daily active users worldwide. | π€ Acquired |
Presight.ai | :ae: | 4.8 | 0.8 | 6.4 | G42 company, delivers AI solutions and big data analytics for government entities and enterprises across the Middle East, specializing in smart city applications, security intelligence, and decision-making platforms powered by advanced data processing capabilities. | π Public |
Tabby | :sa: | 3.3 | BNPL fintech company serving the Middle East and North Africa region, Tabby enables consumers to split purchases into interest-free installments while partnering with thousands of retail merchants across Saudi Arabia, UAE, Kuwait, and other markets. | π Private | ||
Careem | :ae: | 3.1 | 0.4 | 7.8 | Careem provides ride-hailing services, food delivery, and digital payment solutions throughout the Middle East, North Africa, and South Asia, operating as a super app that has expanded beyond transportation into multiple everyday services since its acquisition by Uber. | π€ Acquired |
Network International | :ae: | 2.8 | 0.5 | 5.7 | Network International processes electronic payment transactions for banks, merchants, and financial institutions across the Middle East and Africa, operating one of the region's largest payment processing infrastructures with acquiring and issuing capabilities. | π€ Acquired |
Getir | :tr: | 2.5 | 0.8 | 3.1 | This Turkish rapid delivery startup fulfills grocery and essential goods orders within minutes through a network of dark stores positioned in urban neighborhoods, having expanded its ultra-fast delivery model to multiple countries before scaling back operations. | π Private |
Phoenix Group | :ae: | 2.3 | 0.0 | 61.5 | Phoenix Group operates as a holding company with investments spanning technology, logistics, and consumer businesses in the Middle East, with particular focus on e-commerce enablement and digital transformation initiatives. | π Public |
Property Finder | :ae: | 2 | Property Finder runs a leading real estate portal in the United Arab Emirates and broader Middle East region, connecting property seekers with listings for sale and rent while providing market data, valuation tools, and advertising solutions for brokers and developers. | π€ Acquired | ||
Insider | :tr: | 2.0 | 0.2 | 10.0 | Insider builds a cross-channel marketing platform that enables enterprises to personalize customer experiences through AI-driven segmentation, automation, and orchestration across web, mobile, email, messaging, and other digital touchpoints, serving clients globally from its base in Turkey. | π Private |
Alef Education | :ae: | 1.9 | 0.2 | 9.2 | Focused on educational technology for K-12 students, Alef Education develops AI-powered learning platforms that deliver personalized curriculum content aligned with national education standards, primarily serving schools and ministries across the United Arab Emirates and other Middle Eastern countries. | π Public |
Peak Games | :tr: | 1.8 | 0.6 | 3.0 | Peak Games created popular mobile games with strong social and competitive elements before being acquired by Zynga, having built franchises like Toon Blast and Toy Blast that generated substantial revenue through in-app purchases and attracted hundreds of millions of downloads. | π€ Acquired |
Kitopi | :ae: | 1.6 | 0.3 | 4.8 | Kitopi operates cloud kitchen facilities that prepare food for delivery-only restaurant brands and existing restaurant partners, managing the cooking, packaging, and order fulfillment process across multiple Middle Eastern cities to support the food delivery ecosystem. | π Private |
Ninja | :sa: | 1.5 | Ninja provides last-mile delivery and logistics technology throughout Southeast Asia and the Middle East, offering parcel shipping, warehousing, and supply chain solutions for e-commerce merchants and businesses requiring flexible distribution networks. | π Private | ||
stc pay | :sa: | 1.3 | 0.3 | 4.1 | STC Pay functions as a digital wallet and financial services platform owned by Saudi Telecom Company, allowing users to transfer money, pay bills, make purchases, and access various banking services through a mobile application licensed as a fintech provider in Saudi Arabia. | ποΈ Part of stc |
Huda Beauty | :ae: | 1.2 | 0.3 | 4.0 | Founded by makeup artist Huda Kattan, Huda Beauty manufactures and sells cosmetics including false eyelashes, eyeshadow palettes, foundations, and skincare products, building a global beauty brand through social media influence and distribution across major retailers worldwide. | π€ Acquired |
Magnati | :ae: | 1.2 | Magnati delivers payment acceptance solutions and merchant services across the United Arab Emirates, providing point-of-sale terminals, e-commerce gateways, and transaction processing for businesses of all sizes as a payment technology provider spun off from First Abu Dhabi Bank. | π€ Acquired | ||
Yalla Group | :ae: | 1.1 | 0.3 | 3.2 | Yalla Group operates social networking and gaming applications targeting Arabic-speaking users in the Middle East and North Africa, with its flagship voice chat platform Yalla and casual gaming app Yalla Ludo attracting millions of monthly active users seeking entertainment and social connection. | π Public |
Jahez | :sa: | 1.1 | 0.6 | 1.8 | Jahez operates a food delivery platform focused on the Saudi Arabian market, connecting customers with restaurants through its mobile application and managing the logistics of order fulfillment with its own fleet of delivery drivers across multiple cities in the Kingdom. | π Public |
The Open Platform | :ae: | 1.0 | The Open Platform develops augmented reality smart glasses and wearable technology aimed at creating next-generation computing interfaces, working on hardware and software solutions that blend digital content with the physical world for both consumer and enterprise applications. | π Private | ||
Dubizzle Group | :ae: | 1.0 | Dubizzle Group manages classified advertising platforms across the Middle East and South Asia, operating property, automotive, and general classifieds websites that facilitate peer-to-peer commerce and connect buyers with sellers in markets including UAE, Pakistan, Lebanon, and others. | π Private | ||
Fawry | :eg: | 1.0 | 0.2 | 4.2 | Fawry provides electronic payment and banking services throughout Egypt, operating a network of retail agents and digital channels that enable bill payments, mobile top-ups, money transfers, and various financial transactions for consumers and businesses without requiring traditional bank accounts. | π Public |
MNT-Halan | :eg: | 1.0 | 0.3 | 3.3 | MNT-Halan offers digital financial services and microfinance solutions in Egypt, combining consumer lending, buy now pay later options, payment processing, and e-commerce capabilities through a super app platform that serves millions of underbanked customers and small businesses. | π Private |
Tamara | :sa: | 1.0 | 0.3 | 3.3 | Tamara enables shoppers across Saudi Arabia, UAE, and Kuwait to split online and in-store purchases into installment payments without interest or fees, partnering with thousands of merchants as a fast-growing buy now pay later provider in the Gulf region. | π Private |
Papara | :tr: | 1.0 | Papara operates a digital banking and payment platform in Turkey, providing users with mobile accounts, prepaid cards, peer-to-peer transfers, bill payments, and shopping capabilities while serving millions of customers who use it as an alternative to traditional banking services. | π Private | ||
XPANCEO | :ae: | 1.4 | XPANCEO develops bionic vision technology and smart contact lenses embedded with microelectronics, working toward augmented reality displays that sit directly on the eye to provide seamless digital information overlay without external hardware. | π Private | ||
Andalusia Labs | :ae: | 1.0 | Andalusia Labs builds healthcare technology solutions for the Middle East region, developing digital health platforms, telemedicine services, and medical software applications designed to improve patient care and operational efficiency for hospitals and healthcare providers. | π Private |