--- url: 'https://qubit.capital/blog/weekly-funding-roundup-seed-funding-mena-feb-2026-week-3' title: 'MENA Region Seed Weekly Funding Roundup (Feb 16-21, 2026): Raised $11.4M Across 3 Deals' author: name: Sagar Agrawal url: 'https://qubit.capital/blog/author/sagar' date: '2026-02-23T18:54:16+05:30' modified: '2026-02-23T19:13:01+05:30' type: post categories: - Weekly Funding Roundup image: 'https://qubit.capital/wp-content/uploads/2026/02/weekly-funding-roundup-seed-funding-MENA-region-1.webp' published: true --- # MENA Region Seed Weekly Funding Roundup (Feb 16-21, 2026): Raised $11.4M Across 3 Deals This week, early-stage rounds highlight strong investor interest across fintech, cybersecurity, and digital banking sectors in the MENA region. The deals focus on digital transformation and expanding financial services, addressing both inclusion and security challenges across diverse markets. ![](https://qubit.capital/wp-content/uploads/2026/02/weekly-funding-roundup-seed-funding-MENA-feb-2026-week-3-1.webp) Table of Contents - [1. WafR Secures 4M Seed Round](#1-wafr-secures-4m-seed-round) [Deal overview](#deal-overview) - [Funding](#funding) - [Company Background and Leadership](#company-background-and-leadership) - [Product/Tech](#product-tech) - [Data advantage](#data-advantage) - [Vision/Positioning](#vision-positioning) - [Use of proceeds](#use-of-proceeds) - [Market context](#market-context) - [2. Solidrange Closes 2.4M Seed Round](#2-solidrange-closes-2-4m-seed-round) [Deal overview](#deal-overview-1) - [Funding](#funding-1) - [Company Background and Leadership](#company-background-and-leadership-1) - [Product/Tech](#product-tech-1) - [Data advantage](#data-advantage-1) - [Vision/Positioning](#vision-positioning-1) - [Use of proceeds](#use-of-proceeds-1) - [Market context](#market-context-1) - [3. Telda Raises 5M Pre-Seed Round](#3-telda-raises-5m-pre-seed-round) [Deal overview](#deal-overview-2) - [Funding](#funding-2) - [Company Background and Leadership](#company-background-and-leadership-2) - [Product/Tech](#product-tech-2) - [Data advantage](#data-advantage-2) - [Vision/Positioning](#vision-positioning-2) - [Use of proceeds](#use-of-proceeds-2) - [Market context](#market-context-2) - [Lessons for Founders](#lessons-for-founders) ## 1. WafR Secures 4M Seed Round ### Deal overview Deal stage: Seed | Sector: Fintech | Location: Morocco [WafR](https://www.wafr.co/) is a fintech startup transforming small neighborhood stores into digital financial hubs in Morocco. The company raised USD 4M in a Seed round backed by experienced fintech investors. ### Funding Seed round raising USD 4M, co-led by LoftyInc Capital and Attijariwafa Ventures with participation from Almada Ventures. This follows a previous raise of USD 278K in 2022. ### Company Background and Leadership WafR enables small retailers to offer digital financial services and recently bolstered its leadership with a new CTO. ### Product/Tech The startup converts local stores into hubs offering mobile top-ups, remittances, and cash-in/cash-out services, with plans to expand into micro-insurance and credit scoring. ### Data advantage With nearly 20,000 active merchants and 29% month-on-month transaction growth, the company benefits from endorsements by notable industry players and strong customer reviews. ### Vision/Positioning It aims to unlock essential financial services for underserved Moroccans and extend its embedded finance model across Africa. ### Use of proceeds Funds will be used to expand the retailer network to 100,000 outlets and diversify the product suite beyond basic transactions. ### Market context Operating in Morocco’s USD 16.5B financial services market, the deal reflects a move towards mobile-first finance and integrated digital services. - Expands digital finance through embedded retail models - Demonstrates strong merchant growth and industry endorsements - Targets network expansion and product diversification ## 2. Solidrange Closes 2.4M Seed Round ### Deal overview Deal stage: Seed | Sector: Cybersecurity | Location: Saudi Arabia [Solidrange](https://www.solidrange.com/) is a Riyadh-based cybersecurity startup that leverages AI for GRC automation and cybersecurity awareness. The company raised $2.4M in a Seed round led by Sharaka Capital, aimed at accelerating regional growth. ### Funding The Seed round of $2.4M was led by Sharaka Capital with participation from Sadu Capital, SEEDRA Ventures, and Tali Ventures, and was announced in February 2026. ### Company Background and Leadership Founded in 2023 and headquartered in Riyadh, Solidrange focuses on AI-powered cybersecurity solutions under the leadership of CEO Jamal M. Labani, serving over 50 enterprise clients including key government entities. ### Product/Tech The startup offers two flagship platforms, EasyCompliance and Awareness10, which use AI to streamline regulatory and cybersecurity training processes. ### Data advantage With a broad portfolio of enterprise clients, its dual-platform approach and advanced AI capabilities provide a competitive edge in the cybersecurity market. ### Vision/Positioning Solidrange plans to deepen AI integration and accelerate its regional expansion through continued product development. ### Use of proceeds The investment will boost regional growth, enhance product development, and support further AI integration. ### Market context The deal underscores growing momentum in the MENA cybersecurity market where companies are leveraging AI to tackle compliance and security challenges. - Emphasizes advanced AI for regulatory and cybersecurity solutions - Investment supports product development and regional market expansion - Strong enterprise and government clientele underpins its competitive stance ## 3. Telda Raises 5M Pre-Seed Round ### Deal overview Deal stage: Pre-seed | Sector: Digital banking | Geography: Egypt [Telda](https://telda.app/) is a one-month-old digital bank based in Cairo that secured $5M in a pre-seed round led by Sequoia Capital, with participation from Global Founders Capital and Class 5 Global. The funding is geared towards digitizing financial services for Egypt’s underbanked population. ### Funding The pre-seed round raised $5M, setting a new MENA record by surpassing a previous $3.25M raise. It was led by Sequoia Capital with co-investments from Global Founders Capital and Class 5 Global. ### Company Background and Leadership Telda, founded by CEO Ahmed Sabbah and CTO Youssef Sholqamy, offers a customer-centric approach to digital banking for Egypt’s underbanked customers. ### Product/Tech The platform enables quick digital account creation, issuance of a Telda card for both online and in-store transactions, and facilitates instant money transfers. ### Data advantage Early traction is evident with over 30,000 signups and significant card requests, reinforced by an exclusive regulatory license from the Central Bank of Egypt. ### Vision/Positioning Telda aims to revolutionize financial services in Egypt by digitizing saving, spending, and money transfers, tapping into the large unbanked market. ### Use of proceeds Funds will drive card production, enhance platform technology, and scale customer acquisition efforts. ### Market context Egypt’s predominantly cash-based economy, with only 4% cashless GDP and a high unbanked population, provides significant growth opportunities for digital banking solutions. - Over 30,000 early signups indicate strong market interest - Funding supports rapid scale-up of digital banking infrastructure - Regulatory endorsement offers a competitive advantage in the evolving market ## Lessons for Founders - Investor focus on early-stage rounds underscores appetite for innovation in digital finance and cybersecurity - Diverse sectors spanning fintech, cybersecurity, and digital banking reflect varied opportunities within the MENA region - Strategic fundraising is aimed at expanding digital infrastructure and addressing regional market gaps - Robust investor backing and clear use of proceeds signal strong market confidence