GCC-based VC firm VentureSouq closes Fintech Fund II with backing from leading investors including Jada, SVC, Mubadala, and SAB to support early-stage fintech and SaaS startups in MENA.
VentureSouq, a leading venture capital firm headquartered in the GCC, has announced the closing of its second Fintech Fund (Fintech Fund II), aimed at fueling the growth of early-stage fintech and SaaS companies across the Middle East and North Africa (MENA) region.
The fund has secured support from a strong group of institutional limited partners, including Jada Fund of Funds, Saudi Venture Capital Company (SVC), Saudi Awwal Bank (SAB), Mubadala Investment Company, Takamol Holding, Krafton, and Jordan’s Innovative Startups and SMEs Fund (ISSF).
Investing in Next-Gen Fintech and SaaS
Fintech Fund II will target innovation-driven startups in areas such as:
- Payments infrastructure
- Alternative credit solutions
- Digital banking
- Proptech
- Insurtech
- Personal financial management
The fund builds on the success of VentureSouq’s first sector-specific fintech fund launched in 2021. Since then, the firm has invested in over 40 early-stage startups across the UAE, Saudi Arabia, Egypt, Jordan, and Pakistan — many of which have raised follow-on rounds and expanded internationally. Notable portfolio companies include Tabby, Huspy, Yassir, Salla, and Mozn.
Driving Fintech Innovation in MENA
“Since launching our first Fintech fund in 2021, we’ve seen significant traction across markets. Fintech continues to be the entry point for AI adoption in the region, and its impact is only beginning,” said Suneel Gokhale, General Partner at VentureSouq.
“With Fintech Fund II, we’re doubling down on this momentum, backed by partners who understand the regulatory and market dynamics needed to scale ventures here.”
Bridging Capital and Market Growth
VentureSouq takes a hands-on approach, offering portfolio companies regulatory insight, operational support, and strategic connections to both public and private capital. By aligning its investment strategy with regional growth trends, the firm is set to play a key role in driving the next wave of fintech and SaaS innovation in MENA.
