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The most profitable startups in MENA right now

Startups are increasingly growing in MENA as talent and education are developing rapidly, and the tech holds a vast potential to turn the economic situation in the region completely. This article will discuss the most profitable startups in MENA right now.

Tech startups

North Africa, as well as the Middle East, puts a lot of energy into bringing completely new technologies to the market, or developing existing one by offering new ways to people. They are very profitable, because in the era of technologies and the Internet if you have a decent service, which offers users a good experience, you will most likely earn huge profits. 

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Currently, Stripe, for instance, has become one of the most popular startups in MENA. It offers a wide variety of payments and also supports a unique payment processing network which is the Middle East and North Africa. Other companies try to provide digital services to companies, including website-creation, graphic design, IT, developing, etc.

Casinos

We cannot talk about startups without mentioning casinos, which play an integral part in profits. Gambling is slowly gaining a foothold in North Africa, and plenty of companies are starting to emerge. North Africa is particularly affected most, as companies from Malta are looking forward to expanding southwards and you know, that Malta is perhaps the most famous country in the world who is prominent in a regulatory framework. The most active of those companies has been Spinia casino Norway, which in spite of its primary focus on the Nordic countries is gradually shifting its attention to the East and looks forward to finding high rollers for additional income. Though gambling is technically still illegal in North Africa people are finding ways to play online casino games.

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eCommerce

More and more startups are emerging and become quite profitable in the eCommerce industry. One of the most notable ones we can mention is called Jamalon, which has total funding of $4.2MM, and it currently carries over 10 million titles in Arabic and English. It is one of the most popular online book retailers. 

Medical industry

UDENZ has recently purchased approximately 500 Dental clinics and more than 600 professional teams of Dental specialists into their application. So far, they’ve brought on Dental clinics from the UAE, Saudi Arabia, Lebanon, Egypt, and Israel.

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If we take into account their rapid expansion, it does not look very far when they expand into other medical services or announce a partnership with other companies such as Vezeeta who have already made a breakthrough in the wider medical field.

Conclusion

These are currently the most profitable startup industries in MENA you should pay attention to. Also, we must point out that religion, regimes and culture in some cases play a pivotal role in hampering the active development of other industries. Many countries have an unstable political situation, so at some point, startups may become a subject of collapsing. 

Val Lukhanyu
Val Lukhanyu
I cover technology news, startups, business and gadget reviews

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