Capital raising services in the UAE
The UAE is MENA's most liquid venture market, with cross-border participation from US, European and Asian investors increasingly standard at Series B and above.
Regional and sovereign growth capital from Mubadala, ADQ, Sanabil and Wamda Capital sits alongside global VCs in rounds for companies such as Tabby, Pyypl, Yallow Compare and Bayut - founder visas and Hub71/ADGM residency pathways have made the UAE the default relocation destination for MENA founders raising international rounds.
Flow manages mid- to late-stage VC fundraising processes for UAE-based founders raising growth capital on the best terms available - drawing on an extensive VC investor network, building the operating and financial model, preparing pitch materials and running end-to-end process management from first outreach through to close.
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VC rounds raised in the last 12 months in the UAE
$35M
Median VC valuation (across all stages) in the UAE
17x
Median VC revenue multiple (across all stages) in the UAE
$715M
Largest VC round raised in the UAE in the last 12 months
Raising venture capital in the UAE
The UAE is the most active VC hub in MENA, with Dubai and Abu Dhabi anchoring most regional rounds. DIFC and ADGM free zone structures dominate venture-backed startups; round documentation typically uses English-law influenced templates adapted for the local frameworks.
International documentation
UAE venture rounds typically use English-law-style documentation (often based on BVCA or NVCA templates) adapted for the DIFC or ADGM company-law framework. The free zone common-law-influenced courts (DIFC Courts, ADGM Courts) make UAE rounds unusually familiar to international counsel and investors.
Convertible notes and SAFEs
Convertible loan notes and Y Combinator SAFEs are both used in UAE venture rounds. The choice typically reflects the lead investor's preference; DIFC/ADGM structures accommodate either format cleanly. Conversion typically at the next priced round at a discount or capped valuation.
Round structure norms
Priced rounds use 1x non-participating liquidation preference with broad-based weighted average anti-dilution. Founder vesting (4-year, 1-year cliff) is increasingly standard. DIFC and ADGM company structures support venture-stage rounds well with flexible share class structuring.
Sovereign and quasi-sovereign participation
Many material UAE rounds at Series B+ include participation from sovereign-backed or quasi-sovereign investors (Mubadala, ADQ, Sanabil, ADIA-adjacent vehicles). Their preference structures, information rights and reporting requirements are well-defined and routinely accommodated.
Regulatory considerations
Specific sectors (financial services, telecoms, energy, defence) require approvals from sector-specific regulators (DFSA in DIFC, FSRA in ADGM, Central Bank, TDRA). Most pure-tech and SaaS rounds operate without sector-specific clearance, but fintech, payments and regulated activities materially complicate round structuring.
Closing mechanics
Closings are typically same-day signing and funding with documents executed via DocuSign. Share-allotment and shareholder updates require notarisation in some structures and free zone registry filings. The DIFC and ADGM Registrars provide relatively efficient registry mechanics by global standards.
Largest private tech companies in the UAE
Khazna valued at $5.5B is the largest still privately-owned company in the UAE.
See all large tech companies in the UAE| Logo | HQ | Description | ||||
|---|---|---|---|---|---|---|
Khazna | | Khazna is a Dubai-headquartered operator of wholesale data centers across the UAE. It designs, builds, and manages Tier III-certified facilities in locations including Abu Dhabi, Dubai, and Sharjah, delivering carrier-neutral colocation, cloud connectivity, and managed hosting services. The company supports hyperscale deployments with capacities exceeding 100 MW, emphasizing seismic-resistant structures, advanced cooling systems, and 100% uptime SLAs. Khazna serves telecom operators, financial institutions, and government entities, expanding to Saudi Arabia with a 30 MW facility launched in 2023. | - | - | $5.5B | |
VFS Global Group | | VFS Global Group is a Dubai-headquartered outsourcing specialist for visa and consular services, operating in 155 countries. Founded in 2001, it manages 3,400 application centers processing 100,000 daily submissions for 67 client governments including the U.S., UK, and Schengen states. The firm employs 65,000 staff and uses biometric enrollment and digital tracking to streamline immigration processes globally. | Oct-24 | $950M | $5.0B | |
Aleph Group | | Aleph 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. | Aug-21 | $25M strategic inv. | $2.0B | |
Kitopi | | Kitopi 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. | May-22 | $300M Series C | $1.6B | |
XPANCEO | | XPANCEO 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. | Jul-25 | $250M Series A | $1.4B | |
Brands for Less | | Brands for Less is an online retailer of discounted apparel and accessories headquartered in Dubai. Founded in 2004, the store offers jackets, jeans, footwear, t-shirts, and toys from brands like Levi's and Adidas at up to 70 percent off. It ships across the Middle East from warehouses in Jebel Ali Free Zone. The platform features categories for kids' clothing and women's leggings, with frequent flash sales on bleeding-edge sportswear. Brands for Less serves over 1 million annual orders to customers in UAE, Saudi Arabia, and Qatar. | Aug-24 | $360M strategic inv. | $1.2B | |
The Open Platform | | The 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. | Jun-25 | $29M Series A | $1.0B | |
Advanced Digital Gaming Technology | | Advanced Digital Gaming Technology (ADGT) is a UAE-based fintech platform offering payments and data intelligence for regulated digital markets, including commercial gaming. | Mar-26 | $250M | $1.0B |
Startups who recently raised money in the UAE
Largest VC round raised recently in the UAE was a $715M Undisclosed stage of Zelo in December 2025.
See all VC rounds in the UAE| Logo | HQ | Description | Investors | |||||
|---|---|---|---|---|---|---|---|---|
Dec-25 | Zelo | | Zelo is a Dubai-based digital financing platform regulated by the DFSA, offering invoice discounting and revenue-based funding to SMEs in the UAE and GCC. Approved invoices unlock capital within 24 hours via ACH transfers, with repayments tied to daily revenue shares through integrations with Xero and QuickBooks. Launched in 2021, Zelo has disbursed over AED 100 million to e-commerce and services firms. | IHC | $715M | - | Undisclosed stage | |
Mar-26 | Advanced Digital Gaming Technology | | Advanced Digital Gaming Technology (ADGT) is a UAE-based fintech platform offering payments and data intelligence for regulated digital markets, including commercial gaming. | BlackstoneNRT Technology Corp+2 | $250M | $1.0B | Undisclosed stage | |
Jan-26 | Mal | | Mal is an AI-powered digital banking platform tailored for Islamic finance users seeking compliant, efficient services. | BlueFive Capital | $230M | - | Seed | |
Mar-26 | A1R WATER | | A1R WATER is a provider of atmospheric water generators that extract pure drinking water from ambient humidity using renewable energy. Singapore-headquartered, the company deploys units for residential, commercial, and disaster relief applications in water-scarce regions like the Middle East and Southeast Asia. A1R WATER's systems produce up to 5,000 liters daily per unit, incorporating UV filtration and mineralization for WHO-compliant water quality. | - | $84M | - | Undisclosed stage | |
Apr-26 | Comfi | | Comfi is a UAE-based embedded finance platform for B2B trade in MENA that lets suppliers, manufacturers, and distributors extend 30–90 day payment terms to buyers while securing upfront payments. The company takes on credit risk and collections, embedding into tools like Wafeq, Zoho Books, and ERPs via AI underwriting based on transaction data and payment behavior. Comfi has financed over $25M in transactions for 300+ suppliers and 1,000 SMEs, backed by $25M venture debt with integrations to AECB and UAEPass, and plans Saudi expansion in 2026. | Iliad PartnersRaw Ventures+1 | $65M | - | Seed | |
May-26 | Fasset | | Fasset is a Dubai-headquartered Islamic digital bank utilizing blockchain technology. It allows users worldwide to save, invest, send, and spend via a mobile app compliant with Sharia principles. Backed by investors like Liberty City Ventures and Fatima Gobi Ventures, Fasset launched in 2021 to serve Muslim communities globally. | Arz PortfolioInvestcorp Capital+1 | $51M | $510M | Series B | |
Apr-26 | AICChain | | AICChain is a platform that tokenizes AI-driven real world assets, with a focus on GPU compute power. | Gulf-Legacy Alpha PartnersSilicon Horizon Ventures | $25M | - | Series A | |
Nov-25 | Revibe | | Revibe is a Dubai-headquartered B2C platform specializing in refurbished electronics for consumers in the UAE and Saudi Arabia. It offers certified pre-owned smartphones, laptops, tablets, and accessories from brands like Apple, Samsung, and Huawei, backed by a 12-month warranty and 14-day returns. Revibe sources devices through trade-ins and partnerships with repair centers, ensuring quality via rigorous testing protocols. The marketplace operates via its app and website, catering to budget-conscious buyers seeking sustainable alternatives to new gadgets. | Burda Principal Investmentse& capital+2 | $17M | - | Series A | |
May-26 | CredibleX | | - | Further VenturesMubadala Capital Ventures | $15M | - | Series A | |
Mar-26 | TruDoc | | TruDoc is a telehealth provider offering 24/7 access to doctors, psychologists, and wellness experts via voice, video calls, and chat. | Al-Ketbi familyAl Nahyan Abu Dhabi royal family+1 | $15M | - | Series B | |
May-26 | Global Settlement Network | | Global Settlement Network operates a blockchain platform delivering regulatory compliance, liquidity, and interoperability services. | Andreessen HorowitzEdge Case Capital Partners+4 | $11M | $100M | Pre-seed | |
Apr-26 | Udora | | Udora is a gifting platform linking customers with local florists, confectioners, and artisan makers in over 50 countries and 1,500 cities including MENA, UK, Spain, and LATAM. Same-day delivery, pre-delivery photos, date reminders, and curated collections from local shops serve buyers while tools aid sellers in reaching global audiences. | - | $10M | - | Undisclosed stage | |
Jan-26 | eat | | Eat App is a Bahrain-headquartered cloud platform for restaurant reservations and table management. It automates bookings, guest CRM, and host operations for chains like Four Seasons, Ritz-Carlton, and Maine Group. Founded in 2014, the system integrates real-time data to boost revenue and loyalty in the Middle East and beyond. | Zenchef | $10M | - | Series B | |
Nov-25 | Mastiṣka AI | | Mastiṣka AI is a hardware company designing high-performance GPUs optimized for artificial intelligence workloads. Its processors support training and inference for large language models and computer vision tasks. Based in the United States, Mastiṣka focuses on scalable architectures that deliver competitive performance against established market leaders like NVIDIA. | - | $10M | - | Seed | |
Dec-25 | Speed | | Speed is a Bitcoin payment processor supporting on-chain and Lightning Network transactions for merchants with seamless wallet integrations and fraud protection. | ego death capitalTether | $8.0M | - | Seed |
Top VCs and strategic investors in the UAE
FasterCapital, Plus Venture Capital, Sanabil 500 MENA Seed Accelerator and COTU Ventures funded the most startups in the UAE in the last 12 months.
See all VCs in the UAE| Logo | HQ | Description | Key portfolio | |||
|---|---|---|---|---|---|---|
Plus Venture Capital | | Plus Venture Capital is a Dubai-headquartered early-stage fund investing in MENA tech startups from seed to Series A. Portfolio spans fintech like Tabby and healthtech such as Altibbi, with 20 investments across UAE, Saudi Arabia, and Egypt. It provides follow-on funding up to $5 million per deal alongside mentorship from Google and Microsoft alumni. Active since 2016, Plus VC manages $100 million across two funds targeting B2B SaaS. | estaieyozo.aiMantas+2 | 13 | Pre-seed | |
FasterCapital | | FasterCapital is an online incubator and accelerator connecting startups worldwide with angel investors, VCs, and micro-VCs through equity-for-services models in technical development and business growth. The platform offers mentorship, pitch deck reviews, and funding matchmaking for over 10,000 entrepreneurs annually. FasterCapital facilitates deals in sectors like fintech, healthtech, and edtech from its global network. | Global Hardware ProAI-Based Personalized Skincare SystemMoviedom+2 | 11 | Pre-seed | |
Oryx Fund | | Oryx Fund is a London-based venture capital firm investing in late seed and Series A technology startups across the Middle East and North Africa. The fund targets fintech, healthtech, enterprise software, logistics, and edtech companies in UAE, Saudi Arabia, and Egypt. Oryx Fund led investments in payment gateways and telemedicine platforms. Launched in 2021 by Hambro Perks, it draws on sector expertise for portfolio support. | CoralyQanooniValeo+2 | 9 | Series B | |
Dubai Future District Fund | | Dubai Future District Fund is a Dubai-based venture capital fund of funds investing in emerging companies to fuel regional growth. The fund targets new economy sectors to boost startup activity, diversify GDP, and create jobs, while expanding ecosystem initiatives in the UAE. | ImmensaHoloNymCard+2 | 7 | Seed | |
Sanabil 500 MENA Seed Accelerator | | Sanabil 500 MENA Seed Accelerator is a Riyadh-based program jointly run by Sanabil Investments and 500 Global to fund early-stage startups in the Middle East and North Africa. The accelerator provides $150,000 investments, mentorship, and demo days for tech ventures in fintech, e-commerce, and healthtech. Past cohorts include companies like Tamara and Tamara, fostering over 50 startups since launch with a focus on Saudi Vision 2030 alignment. | HakeemLocalCADO Gifting+2 | 6 | Seed | |
Oraseya Capital | | Oraseya Capital is the venture capital division of Dubai Integrated Economic Zones Authority based in the United Arab Emirates. It invests in early-stage startups across technology, logistics, healthcare, and manufacturing sectors within Dubai's free zones. The firm supports companies leveraging Dubai's strategic position as a global trade hub, providing capital alongside access to regulatory sandboxes and infrastructure in zones like Dubai Multi Commodities Centre and Jebel Ali Free Zone. Oraseya Capital backs ventures such as robotics firm Asyad and healthtech innovator Altibbi, aiming to foster innovation ecosystems that contribute to Dubai's Vision 2030 economic goals. | yozo.aiProp-AINymCard+2 | 6 | Pre-seed | |
Y Combinator | | Y Combinator is a San Francisco-headquartered startup accelerator that funds and mentors early-stage technology companies across sectors like software, biotechnology, and fintech. Since its inception in 2005, it has propelled alumni including Airbnb, Dropbox, and Stripe through intensive three-month programs featuring Demo Days and investor networks. | CercliAlaanZiina+2 | 6 | Series A | |
COTU Ventures | | COTU Ventures is a Dubai-based seed-stage venture capital firm backing technology startups in the Middle East and North Africa. It invests from pre-seed to Series A in fintech, healthtech, edtech, and logistics companies including Bayzat and Fetchr. The firm manages a $100 million fund and provides operational support through its network of mentors and corporates. Launched in 2020, COTU Ventures operates from the UAE with regional presence. | KingpinCercliHuspy+2 | 5 | Seed | |
Merak Capital | | Merak Capital is a Riyadh-licensed asset manager under CMA license 18194-32 focusing on technology investments since 2020. The firm handles private equity and venture capital in KSA and MENA alongside global public equities. Targeting fintech and SaaS, Merak deploys funds into 15 startups including cybersecurity firms in Dubai and AI platforms in Jeddah. | HakeemKhosouf StudioSheba Joy+2 | 4 | Seed | |
Arcanum Capital |  | Arcanum Capital is a venture capital firm investing in early-stage blockchain, cryptocurrency, and Web3 projects. It focuses on protocols, decentralized finance platforms, and NFT marketplaces, providing seed and pre-seed funding. Operating from the United States, the firm supports teams building scalable infrastructure across Ethereum, Solana, and layer-2 networks. | OP_NETUtexoTR8DE.AI | 3 | Seed |
What if not VC? Non-equity funding in the UAE
The UAE non-dilutive funding stack is moderate but growing - Hub71, Mohammed bin Rashid Innovation Fund and sovereign-backed grants combine with the broader tax advantages (no personal income tax, 0% corporate tax in qualifying free zones for qualifying activities) to provide meaningful capital-light operating economics.
Hub71 incentives
Hub71 provides subsidised office, housing, healthcare and direct grant funding (AED 200k–500k+) for qualifying founders setting up in Abu Dhabi. Material non-dilutive package particularly for international founders relocating.
Mohammed bin Rashid Innovation Fund
Dubai's MBRIF and adjacent DET, DIFC FinTech Hive, Dubai Future Foundation and Dubai Future Accelerators programmes provide grants and acceleration support. Programmes vary by call and sector focus.
Tax advantages
The UAE imposes no personal income tax. Federal corporate tax (introduced 2023) is 0% on profits up to AED 375k and 9% above. Qualifying free zone activities can remain at 0% corporate tax. While not a 'funding source' in the traditional sense, the cumulative effect materially improves the cash position of UAE-based operations.
Sovereign-backed grant programmes
Various Emirate-level innovation funds and sector-specific programmes (ADIO, ADGM RegLab grants, RAKIA, KIZAD) provide grants and incentives for qualifying companies. Worth checking the specific Emirate of incorporation for available programmes.
Regional angel ecosystem
MENA's most active angel scene sits in the UAE, with networks like Angel Investors Network, Dubai Angel Investors, AngelMethod and sector-specific syndicates. Tickets typically USD 25k-250k per investor; structured rounds often syndicated across 5-15 angels.
Venture debt
Less developed than UK/US markets but growing. Shorooq Partners credit, regional banks (Mashreq, Emirates NBD, FAB) and cross-border providers (Partners for Growth, Trifecta) provide ARR-backed lending. Typically deployed from Series A onwards.
Why Flow Partners as your capital raising advisor?
Kraft KPI-driven narrative
High-growth companies require thorough understanding to accurately capture their value potential. We build compelling, data-driven equity stories that resonate with investors and minimize due diligence intensity.
Move fast and cut the BS
We have a strong appreciation for the power of speed and efficiency when fundraising. Expect a rigorously efficient deal process with minimized management distraction. Founders run the business, we pick up the heavy lifting.
Access relevant investors
Our close relationships with leading late-stage VC and growth equity investors as well as non-traditional capital providers, like family offices and sovereign wealth funds, enable us to find best-fit partners for a given scenario.
Valuation is only one part of the equation
When it comes to growth capital, valuation is only one side of the medal. We help to bridge incentive gaps between founders and investors and make sure you raise money on best possible terms.
We provide capital raising services across the UAE and beyond
Sector expertise
Explore our VC fundraising offering across a variety of tech sectors in the UAE.
Software
Vertical and horizontal SaaS, AI-native software products, infrastructure SaaS, cybersecurity
AI & ML
Foundation models, AI applications, AI infrastructure, semiconductors, AI consulting
Fintech
Neobanking, online payments, fintech infrastructure, lending platforms, wealth tech, online brokerage, vertical FS software
Consumer internet
Consumer software subscription platforms, edutech, online content, social networks, online dating
Digital media
Streaming platforms, mobile and console gaming, content distribution, digital publishing, VR & AR
E-commerce & marketplaces
Consumer and B2B marketplaces, inventory-based e-commerce, classifieds, lead generation platforms
Consumer products
Direct-to-consumer (D2C) brands, consumer electronics, smart home devices, lifestyle products
Mobility
Ridesharing, micromobility, food delivery, logistics tech, autonomous tech, EV charging infrastructure
Digital health
Digital therapeutics, telemedicine, mental health solutions, EHR and practice management, vertical healthcare SaaS
Industrial technology
Industry 4.0 solutions, 3D printing, climate tech, industrial IoT, robotics, smart manufacturing
Digital infrastructure
Data centers, cloud infrastructure, edge computing, network security, vertical infrastructure SaaS
IT services
Software development and testing, digital transformation, cloud services, advertising agencies, IT support services
Selected case studies
We've advised companies from series A to series D and beyond.
Our capital raising experience spans across various tech sectors and geographies.
We advised Elysian Fields on its investment into Orka, a Reykjavik-based portfolio of online consumer lending platforms, supporting deal structuring and growth-capital deployment in the Icelandic fintech market.
Recently completed VC fundraising projects
Selected capital-raising mandates and prior investment experience.
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