The UAE has become known as a hub for entrepreneurship with a cluster of successful startups in nearly every sector imaginable. Technology startups have seen some of the biggest success, taking in incredible amounts of funding over the years. From e-commerce sites to online classifieds, these UAE tech startups have taken in the most funding to date:
Since its debut in 2016, Noon has raised a staggering $1 billion in investment, making it the most well-funded startup in the UAE today. Headquartered in Dubai, the company has built an expansive e-commerce site that caters to customers in the UAE, Saudi Arabia, and Egypt. Noon has over 10,000 brands selling products spanning every category from home necessities to fashion. The site also allows its users to set up online stores through which they can sell their own goods.
Noon employs a fleet of its own delivery vans, which it operates in more than three dozen cities. The startup is also looking to expand its services by collaborating with local malls and franchise operators.
Property Finder, the UAE’s premier site for home listings, first launched as a real estate classifieds business in 2005 under the name Al Bab World. By 2007, the startup had changed its name to Property Finder and migrated its entire business online. To date, it has taken in $140 million in funding from regional and international investors, including the US-based General Atlantic, which invested $120 million in 2018 to support Property Finder’s future product development.
In 2017, Property Finder surpassed 1,000 brokerages and developers to become the top site for property listings in the UAE. From single apartments to entire buildings, users can search for nearly any property on the site. Property Finder’s search feature allows users to find accommodations that fit their exacting specifications. They can look for properties based on standard characteristics like square footage and price or find listings with specific amenities and furnishings.
As of 2019, Fetchr had the third most funding of any tech startup in the UAE, with $52 million in investments. Launched in 2012, the startup has grown into a leading provider of courier services in the MENA region. Though headquartered in the UAE, Fetchr also serves clients in Saudi Arabia, Egypt, Oman, and Jordan.
Leveraging GPS technology, Fetchr uses location services to pick up and deliver items for users. When someone wants to send a package, the Fetchr app uses their mobile device to determine their location. The use of location services not only eliminates the need to provide directions to couriers, but it also allows users to track deliveries as they are happening. Whether you want to sell an item or lend an outfit to a friend, you can use Fetchr to ship nearly any item.
Since launching in 2013, HolidayMe has become the go-to website for people in the Arab world who are looking to book exciting vacations. With over $35 million in funding, the startup has helped more than 1.4 million travelers plan their dream holiday.
HolidayMe offers an array of vacation packages that take its clients to exciting destinations across the globe. Travelers can also use the website to plan their own holiday by individually selecting activities and accommodations. HolidayMe helps travelers secure the best pricing on hotels, flights, and more, so they can focus on enjoying their trips. Additionally, the website includes a travel guide, which provides information on destinations in 56 countries and 800 cities.
With an impressive $20 million in funding, Mumzworld has built the number-one e-commerce site for mothers and children in the Middle East. The site features more than 4,500 brands, which has allowed it to build an inventory of over 250,000 products for families and kids of all ages. New mothers can use Mumzworld to find all of the most important baby essentials as well as maternity clothes, skincare, and other necessities. Moms with older children can find school supplies and the latest in children’s fashion. Mumzworld also stocks home goods, so users can find nearly everything their families need in one place.
The Luxury Closet
Another of the UAE’s biggest e-commerce websites, The Luxury Closet focuses solely on new and used luxury items such as apparel, handbags, watches, and jewelry. The startup serves customers around the globe from its headquarters in Dubai. These customers have access to more than 16,000 luxury items from such brands as Rolex, Chanel, Cartier, and Louis Vuitton. In addition, The Luxury Closet allows users to sell their own products through the site.
Most recently, the startup closed a round of funding worth $11 million, which brought its investment total to $21 million.
Aqeed launched in 2018 with $18 million in series A funding to help scale its insuretech offerings. The startup has developed its own insurance-as-a-service solution for insurance companies looking to modernize their entire business.
The Aqeed platform includes several products that bolster insurance sales, brokerage, and more. With Aqeed Dealers, for example, companies can close sales more quickly and deliver the service that their customers want. The platform also features an artificial intelligence-driven HR solution that allows companies to keep better track of their teams. Aqeed has products optimized for providers that specialize in life insurance, health insurance, and everything in between.