Riyadh – Sharikat Mubasher: VentureSouq, a GCC-based venture capital firm, closed its second FinTech Fund (FinTech Fund II), further cementing its role as a leading early-stage investor in the MENA region.

The fund is backed by top institutional 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), according to a recent press release.

The new fund will focus on early-stage investments in fintech and adjacent SaaS companies, targeting payments infrastructure, alternative credit, digital banking, PropTech, InsurTech, and personal financial management.

VentureSouq said the close reflects both the depth of opportunities in the region and growing institutional confidence in fintech as a driver of AI adoption and digital transformation. The firm has already backed several high-growth startups, including Tabby, Huspy, Yassir, Salla, and Saudi AI firm Mozn.

With MENA projected to be the fastest-growing fintech market globally—expected to post 35% annual revenue growth through 2028—VentureSouq’s second sector-specific fund builds on the success of its first, which invested in over 40 early-stage companies across Saudi Arabia, the UAE, Egypt, Jordan, and Pakistan.