VentureSouq Closes $50M FinTech Fund II, Fuels MENA Innovation
September 17, 2025, 3:34 am
Location: United Arab Emirates, Abu Dhabi Emirate, Abu Dhabi
Employees: 501-1000
Founded date: 2002
Location: United Arab Emirates, Dubai
Employees: 51-200
Founded date: 2019
Total raised: $1.4B
VentureSouq, a prominent MENA venture capital firm, has successfully closed its second FinTech Fund, securing $50 million. This significant raise solidifies its role in accelerating the region's rapidly expanding FinTech and adjacent SaaS sectors. The fund draws support from leading sovereign and institutional investors. It targets early-stage companies in critical areas like payments, digital banking, and AI-driven solutions. This move marks a crucial step for MENA's tech ecosystem, leveraging projected high growth rates. VentureSouq continues its mission to back transformative startups, reinforcing the region's position as a global innovation hub.
VentureSouq marks a major milestone. The GCC-based venture capital firm announced the final close of its FinTech Fund II. It secured $50 million. This fund closure signals strong confidence in the Middle East and North Africa (MENA) innovation landscape. It targets early-stage financial technology and adjacent SaaS companies.
The successful raise strengthens VentureSouq's position. It remains a leading early-stage investor across the MENA region. The firm focuses on high-growth potential. Its strategic vision guides capital deployment.
Fund II launched in 2023. Its focus spans critical FinTech sub-sectors. These include payments infrastructure, alternative credit, and digital banking. InsurTech and PropTech also fall within its scope. Personal financial management solutions are key targets. The fund seeks companies leveraging emerging technologies.
Strategic limited partners (LPs) backed the fund. These include Jada Fund of Funds, a PIF-owned entity. Saudi Venture Capital Company (SVC) is another key investor. Mubadala Investment Company joined the ranks. Saudi Awwal Bank (SAB) provided support. Takamol Holding and Krafton committed capital. Jordan's Innovative Startups and SMEs Fund (ISSF) also participated. Additional major backers include ADQ’s DisruptAD. Bahrain’s Al Waha Fund of Funds contributed. Olayan Group’s Middle East investment arm, OFC, also invested. This diverse LP base underscores broad institutional confidence.
MENA's FinTech sector is booming. It projects as the fastest-growing market globally. Industry reports predict 35% annual net revenue growth through 2028. This significantly outpaces the 15% global average. VentureSouq positions itself at the forefront of this expansion. It understands the region's unique dynamics.
Artificial intelligence drives new opportunities. FinTech serves as a primary entry point for AI deployment in MENA. This integration promises transformative impacts. The new fund prepares for this technological evolution. It supports ventures ready to innovate with AI.
VentureSouq offers more than just capital. It provides critical regulatory insight. Operational support helps portfolio companies scale. Its approach is founder-first. It connects public and private capital sources. This ecosystem approach drives innovation at scale.
The firm boasts a strong track record. VentureSouq was founded in 2016. Its founders include Suneel Gokhale, Maan Eshgi, Sonia Gokhale, Tammer Qaddumi, and Sonia Weymuller. It has invested in over 100 FinTech startups globally. Its global reach is extensive.
The firm’s portfolio includes diverse geographies. Twelve India-based entities have received investment. Nearly 40 FinTech startups operate within the broader MENAP region. Twenty-six FinTech entities hail from North America. This global perspective enriches its regional strategy.
Its first FinTech-focused fund, FinTech Fund I, set a precedent. It was the first vertical fund of its kind in MENA. This fund backed over 40 early-stage startups. These companies spanned the UAE, Saudi Arabia, Egypt, Jordan, and Pakistan. Many secured follow-on rounds from global investors. They scaled successfully across markets.
Notable portfolio companies from Fund I include Tabby. It is a leading buy-now, pay-later platform. Huspy offers an innovative digital real estate platform. Sary is a Saudi Arabian B2B marketplace. Yassir operates as a super app across Algeria, Morocco, and Tunisia. Mozn, a Saudi AI company, specializes in risk and compliance. These success stories validate VentureSouq’s investment thesis.
Beyond FinTech, VentureSouq champions other themes. ClimateTech is a significant focus. The firm has deployed capital in about 14 ClimateTech startups. This includes Indian EV charging network Statiq. Its commitment to sustainable innovation is clear.
VentureSouq's operations extend across key regional hubs. It maintains presence in the UAE, Egypt, and Saudi Arabia. This localized approach allows deep market understanding. It facilitates navigation of complex regulatory environments. Unlocking cross-border opportunities is a core strength.
Recent accolades highlight the firm's standing. Forbes recognized VentureSouq. It named the firm one of the Top Venture Capital Firms in the Middle East for 2024. This recognition underscores growing institutional confidence. It validates VentureSouq’s integrated approach to innovation investment.
FinTech Fund II builds on this strong foundation. It leverages established relationships and deep market expertise. The fund aims to accelerate the next generation of category-defining startups. Its mission is to enable long-term growth.
The firm remains a cornerstone investor. It plays a pivotal role in the MENA startup ecosystem. Its commitment to shaping the region's innovation economy is unwavering. It supports today’s entrepreneurs. It builds foundations for tomorrow’s society.
VentureSouq's latest fund close is more than a financial event. It signifies a strategic push. It empowers regional innovators. It drives economic diversification. The firm continues to advance innovation across the MENA region. It fuels a dynamic and evolving tech landscape. This solidifies MENA's future as a global FinTech powerhouse.
VentureSouq marks a major milestone. The GCC-based venture capital firm announced the final close of its FinTech Fund II. It secured $50 million. This fund closure signals strong confidence in the Middle East and North Africa (MENA) innovation landscape. It targets early-stage financial technology and adjacent SaaS companies.
The successful raise strengthens VentureSouq's position. It remains a leading early-stage investor across the MENA region. The firm focuses on high-growth potential. Its strategic vision guides capital deployment.
Fund II launched in 2023. Its focus spans critical FinTech sub-sectors. These include payments infrastructure, alternative credit, and digital banking. InsurTech and PropTech also fall within its scope. Personal financial management solutions are key targets. The fund seeks companies leveraging emerging technologies.
Strategic limited partners (LPs) backed the fund. These include Jada Fund of Funds, a PIF-owned entity. Saudi Venture Capital Company (SVC) is another key investor. Mubadala Investment Company joined the ranks. Saudi Awwal Bank (SAB) provided support. Takamol Holding and Krafton committed capital. Jordan's Innovative Startups and SMEs Fund (ISSF) also participated. Additional major backers include ADQ’s DisruptAD. Bahrain’s Al Waha Fund of Funds contributed. Olayan Group’s Middle East investment arm, OFC, also invested. This diverse LP base underscores broad institutional confidence.
MENA's FinTech sector is booming. It projects as the fastest-growing market globally. Industry reports predict 35% annual net revenue growth through 2028. This significantly outpaces the 15% global average. VentureSouq positions itself at the forefront of this expansion. It understands the region's unique dynamics.
Artificial intelligence drives new opportunities. FinTech serves as a primary entry point for AI deployment in MENA. This integration promises transformative impacts. The new fund prepares for this technological evolution. It supports ventures ready to innovate with AI.
VentureSouq offers more than just capital. It provides critical regulatory insight. Operational support helps portfolio companies scale. Its approach is founder-first. It connects public and private capital sources. This ecosystem approach drives innovation at scale.
The firm boasts a strong track record. VentureSouq was founded in 2016. Its founders include Suneel Gokhale, Maan Eshgi, Sonia Gokhale, Tammer Qaddumi, and Sonia Weymuller. It has invested in over 100 FinTech startups globally. Its global reach is extensive.
The firm’s portfolio includes diverse geographies. Twelve India-based entities have received investment. Nearly 40 FinTech startups operate within the broader MENAP region. Twenty-six FinTech entities hail from North America. This global perspective enriches its regional strategy.
Its first FinTech-focused fund, FinTech Fund I, set a precedent. It was the first vertical fund of its kind in MENA. This fund backed over 40 early-stage startups. These companies spanned the UAE, Saudi Arabia, Egypt, Jordan, and Pakistan. Many secured follow-on rounds from global investors. They scaled successfully across markets.
Notable portfolio companies from Fund I include Tabby. It is a leading buy-now, pay-later platform. Huspy offers an innovative digital real estate platform. Sary is a Saudi Arabian B2B marketplace. Yassir operates as a super app across Algeria, Morocco, and Tunisia. Mozn, a Saudi AI company, specializes in risk and compliance. These success stories validate VentureSouq’s investment thesis.
Beyond FinTech, VentureSouq champions other themes. ClimateTech is a significant focus. The firm has deployed capital in about 14 ClimateTech startups. This includes Indian EV charging network Statiq. Its commitment to sustainable innovation is clear.
VentureSouq's operations extend across key regional hubs. It maintains presence in the UAE, Egypt, and Saudi Arabia. This localized approach allows deep market understanding. It facilitates navigation of complex regulatory environments. Unlocking cross-border opportunities is a core strength.
Recent accolades highlight the firm's standing. Forbes recognized VentureSouq. It named the firm one of the Top Venture Capital Firms in the Middle East for 2024. This recognition underscores growing institutional confidence. It validates VentureSouq’s integrated approach to innovation investment.
FinTech Fund II builds on this strong foundation. It leverages established relationships and deep market expertise. The fund aims to accelerate the next generation of category-defining startups. Its mission is to enable long-term growth.
The firm remains a cornerstone investor. It plays a pivotal role in the MENA startup ecosystem. Its commitment to shaping the region's innovation economy is unwavering. It supports today’s entrepreneurs. It builds foundations for tomorrow’s society.
VentureSouq's latest fund close is more than a financial event. It signifies a strategic push. It empowers regional innovators. It drives economic diversification. The firm continues to advance innovation across the MENA region. It fuels a dynamic and evolving tech landscape. This solidifies MENA's future as a global FinTech powerhouse.