Startup funding across the region more than doubled in the third quarter, yet female-led companies captured under 1% of it.
MENA startups pulled in $1.65 billion over 145 deals in the third quarter of 2026, according to a report by Wamda and Digital Digest released on October 12. That is more than double the previous quarter’s total, with deal count up 39%. Context matters, though: the figure is still about 63% below the $4.5 billion recorded a year earlier.
The gains went overwhelmingly to male-led companies, which took $1.62 billion across 116 deals, or 98.3% of the total. Teams with both male and female founders collected $15.9 million in 13 deals. Female-led startups closed 16 deals worth $12.7 million combined, less than 1% of the quarter’s capital.
Saudi Arabia reclaimed the top spot with roughly $1 billion over 62 deals, and fintech drew $1.03 billion, about 62% of regional funding. Three Saudi transactions did much of the lifting: Barq’s $329.5 million Series A, Tabby’s $233 million Series F and a $200 million debt facility for Lendo, together worth $762.5 million.
Funding by stage shows the same concentration. Just seven later-stage companies raised $606 million, more than the $505.4 million shared among 94 early-stage startups. In a market where capital gravitates to a few large rounds, smaller companies have less room to secure funding.
Support programmes are growing. TiE Women MENA drew more than 250 licensed, women-founded businesses to its 2026 edition, up from nearly 200 last year, and named five regional winners in early October. They will compete for the MENA title at GITEX Global in December, with mentoring and investor access along the way.
Capital is returning to MENA, but unevenly across founders, sectors and countries. Clearer reporting on who receives funding, and more women in investment decisions, would show whether the recovery reaches beyond a narrow circle.
Sources: Wamda and Digital Digest, Q3 2026 MENA startup funding report (October 12, 2026); TiE Dubai, TiE Women MENA 2026 regional winners announcement.
