Fetchr, Anghami named top startups in Arab world

dubai - Total funding received by startups was $1 billion

Fetchr, Anghami and HolidayMe have been named as the top startups in the Arab World by Forbes Middle East, while UrbanBuz, Boxit and SocialDice have been named among the top startups to watch out for.

Forbes Middle East recently unveiled the region's most successful and most promising startups at an event that brought together the Arab world's most creative and exciting entrepreneurs, as well as its most active investors.

The three annual rankings comprise '100 Startups in the Arab World', '50 Startups to Watch' and '50 Most Active Investors'.

Total funding received by startups was $1 billion with standalone investment of $571 million in Careem. The UAE also has the largest number of startups in the region and the most active investors, followed by Saudi Arabia.

"An active and vibrant startup ecosystem is the backbone of growing economies of the Arab world," said Khuloud Al Omian, editor-in-chief of Forbes Middle East. "Our listings have revealed an interesting aspect of how various nationalities, investors and entrepreneurs are driving growth across the startup space in the Arab world."

Forbes Middle East also found that 92 startups on the list received funding over $1 million each, and that Lebanese, Egyptians and Jordanians comprised the top nationalities for startups.

When it came to the most active investors, Wamda Capital lead the way followed by MEVP and RAED Ventures. Mena Venture Investments placed fourth on the list follwed by Arzan VC.

Other startups listed on Forbes' ranking of top startups included The Luxury Closet and Mumzworld. Meanwhile, Hello World Kids and Helpling Middle East rounded up the top five on Forbes' list of startups to watch.

- business@khaleejtimes.com