Startups across Africa and the Middle East raised a combined $99.5 million this week, based on disclosed funding rounds tracked by Techloy, with investor capital flowing primarily into electric mobility infrastructure, financial technology platforms, and artificial intelligence solutions. Three large debt facilities accounted for most of the week's funding activity.
The Week's Largest Startup Funding Rounds
Here are the biggest disclosed startup funding rounds across Africa and the Middle East:
/1. Spiro, $50M, E-mobility, Dubai
Spiro operates electric motorcycle networks across six African countries through a battery-swapping model where riders lease bikes and swap depleted batteries for charged ones in minutes at 2,500+ stations. Afreximbank, Nithio, and Africa Go Green Fund provided the debt financing announced February 25.
The funding will expand the battery-swapping network beyond the current 80,000 bikes and 300,000 batteries in circulation, develop automated swap systems and fast-charging technology, and integrate more renewable energy into operations across Kenya, Uganda, Rwanda, Nigeria, Benin, and Togo, with pilots underway in Cameroon and Tanzania.
/2. Klaim, $25M, Fintech/Healthcare, UAE
Klaim operates a healthcare payment acceleration platform that advances cash to providers waiting for delayed insurance reimbursements across GCC markets. The company secured a private credit facility of up to $25 million structured by Amwal Capital Partners, signed February 23 at Dubai International Financial Centre, comprising $15 million committed and $10 million uncommitted.
This debt will allow Klaim to expand its healthcare payment services across GCC countries beyond the $160 million in receivables already accelerated, build new vertical solutions for other delay-prone service industries, and launch Klaim USA to address payment inefficiencies in the $5 trillion U.S. healthcare market.
/3. Angelic Intelligence, $15M, AI, Dubai
Angelic Intelligence builds enterprise AI software helping organizations integrate artificial intelligence into existing systems while aligning automated decision-making with operational priorities and governance requirements. The seed round, announced February 25, will fund the company's official global launch scheduled for April 15, accelerate development of governance-focused AI infrastructure, and expand operations with the Middle East identified.
/4. Fido, $5.5M, Fintech, Ghana
Fido provides AI-powered digital lending for individuals and small businesses traditionally excluded from formal banking across Ghana and Uganda, using its proprietary Fido Score that analyzes alternative data like mobile usage patterns to assess credit risk.
The company secured $5.5 million in debt financing provided by Symbiotics through the REGMIFA fund, announced February 26. Securing this debt will enable Fido to expand it's lending operations across both countries, enhance digital infrastructure, and scale the platform that has already disbursed hundreds of millions of dollars to more than one million customers.
/5. WafR, $4M, Fintech, Morocco
WafR provides last-mile financial services across Moroccan neighborhoods through a network of agents offering cash-in, cash-out, bill payments, and mobile money services. The seed round announced February 24 will expand the agent network beyond current coverage, build technology infrastructure for faster transactions, and scale operations across Morocco's underserved areas where traditional banking remains inaccessible.
Other startups that announced funding this week include Takeem, a UAE PropTech that secured backing from Second Century Ventures through REACH Middle East, and Immensa, which secured DFDF backing to expand its digital supply chain platform, although funding amounts were not disclosed for either deal.
Conclusion
With $99.5 million in disclosed funding this week, most investor money in Africa and the Middle East went to electric mobility infrastructure and healthcare payments. Spiro's $50 million debt facility alone accounted for 50% of total capital. Three of the top four deals came as debt financing rather than equity, showing strong investor confidence in recurring revenue models.
Damilare Odedina
