Startup Wrap: Saudi startups dominate MENA funding week as a16z makes first GCC bet 

AI Summary

Saudi Arabia has demonstrated strong performance in startup funding, particularly in fintech, health tech, and business operations, with five companies receiving investment in a week. The largest funding round was led by Andreessen Horowitz for $25 million.

RIYADH: Saudi Arabia emerged as this week’s main mover in startup activity across the region, with five firms announcing new funding across fintech, health tech, and business operations. The largest deal in the sector from the Kingdom came from fintech Stitch, which raised $25 million in series A funding led by Andreessen Horowitz — also known as a16z — marking the US-based firm’s first investment in the Gulf Cooperation Council region.