Saudi Arabia's LEAP 2025 Tech Conference Highlights Startup Growth
The LEAP 2025 conference in Riyadh showcased significant investment rounds and acquisitions, reinforcing the Kingdom's position as a regional startup hub.
The LEAP 2025 tech conference, held from February 9 to 12 in Saudi Arabia, displayed the Kingdom's increasing prominence in the global startup ecosystem, featuring numerous funding announcements and acquisitions.
The conference served as a vital platform for innovation and investment, contributing to the Kingdom's aspirations of becoming a leading hub for fintech, e-commerce, logistics, and emerging technologies in the region.
Among the notable announcements, Saudi Arabia-based construction technology startup BRKZ disclosed the completion of a $17 million Series A extension, comprising $8 million raised in March 2023 and $1 million in venture debt.
The investment round included contributions from Capifly, BECO Capital, Aramco’s Waed, and others, bringing BRKZ's total capital raised to $22.5 million since its inception in 2023.
Additionally, the fintech sector witnessed a significant boost, with Saudi-based Tabby raising $160 million in a Series E funding round that valued the company at $3.3 billion.
The round was supported by existing investors, including Blue Pool Capital and Hassana Investment Company, and aims to further enhance Tabby's operational capacity, particularly as the company prepares for an initial public offering (IPO).
Another key funding achievement was the $4.8 million secured by RasMal, a fintech start-up focused on digital spending accounts and payment solutions.
The funding round was led by Syndicate Element Holding Group and highlights the ongoing investment interests in digital financial services within the Kingdom.
In the construction sector, Buildnow raised $9.7 million in a funding round led by STV and Arbah Capital.
This investment will assist in expanding Buildnow’s operations, which focus on providing construction materials to small and medium-sized enterprises on flexible credit terms.
Social e-commerce also marked a significant milestone, with Taager securing $6.75 million in a pre-Series B funding round led by Norrsken22.
This funding will support Taager’s operations across the Middle East as it aims to enhance its offerings for entrepreneurs.
Logistics startup PIESHIP announced a $2.1 million seed round led by Nama Ventures to bolster its presence in the Saudi logistics market.
The investment reflects the increasing emphasis on logistics tech solutions as e-commerce continues to grow in the region.
In terms of corporate activity, Mush Social acquired the social media application Pubbles to augment its digital platform, enhancing user engagement within virtual communities.
Meanwhile, Salla, a key player in Saudi e-commerce, announced its acquisition of digital advertising platform Sweply, which will be rebranded as 'Salla Ads' as part of its strategy to integrate advertising solutions into its offerings.
Saudi Arabia’s startup ecosystem also experienced an influx of funding in the wider context.
In January of this year, MENA startup funding reached $863 million, with Saudi Arabia leading the regional figures, securing $839.5 million across 21 deals, predominantly in the fintech sector.
The LEAP 2025 conference has underscored Saudi Arabia’s growing potential as an innovation and investment hub in the Middle East, driven by government initiatives and a favorable economic landscape for startups.
The conference served as a vital platform for innovation and investment, contributing to the Kingdom's aspirations of becoming a leading hub for fintech, e-commerce, logistics, and emerging technologies in the region.
Among the notable announcements, Saudi Arabia-based construction technology startup BRKZ disclosed the completion of a $17 million Series A extension, comprising $8 million raised in March 2023 and $1 million in venture debt.
The investment round included contributions from Capifly, BECO Capital, Aramco’s Waed, and others, bringing BRKZ's total capital raised to $22.5 million since its inception in 2023.
Additionally, the fintech sector witnessed a significant boost, with Saudi-based Tabby raising $160 million in a Series E funding round that valued the company at $3.3 billion.
The round was supported by existing investors, including Blue Pool Capital and Hassana Investment Company, and aims to further enhance Tabby's operational capacity, particularly as the company prepares for an initial public offering (IPO).
Another key funding achievement was the $4.8 million secured by RasMal, a fintech start-up focused on digital spending accounts and payment solutions.
The funding round was led by Syndicate Element Holding Group and highlights the ongoing investment interests in digital financial services within the Kingdom.
In the construction sector, Buildnow raised $9.7 million in a funding round led by STV and Arbah Capital.
This investment will assist in expanding Buildnow’s operations, which focus on providing construction materials to small and medium-sized enterprises on flexible credit terms.
Social e-commerce also marked a significant milestone, with Taager securing $6.75 million in a pre-Series B funding round led by Norrsken22.
This funding will support Taager’s operations across the Middle East as it aims to enhance its offerings for entrepreneurs.
Logistics startup PIESHIP announced a $2.1 million seed round led by Nama Ventures to bolster its presence in the Saudi logistics market.
The investment reflects the increasing emphasis on logistics tech solutions as e-commerce continues to grow in the region.
In terms of corporate activity, Mush Social acquired the social media application Pubbles to augment its digital platform, enhancing user engagement within virtual communities.
Meanwhile, Salla, a key player in Saudi e-commerce, announced its acquisition of digital advertising platform Sweply, which will be rebranded as 'Salla Ads' as part of its strategy to integrate advertising solutions into its offerings.
Saudi Arabia’s startup ecosystem also experienced an influx of funding in the wider context.
In January of this year, MENA startup funding reached $863 million, with Saudi Arabia leading the regional figures, securing $839.5 million across 21 deals, predominantly in the fintech sector.
The LEAP 2025 conference has underscored Saudi Arabia’s growing potential as an innovation and investment hub in the Middle East, driven by government initiatives and a favorable economic landscape for startups.
