The Middle East has emerged as a dynamic center for technological innovation and entrepreneurship in recent years. As the region’s economy expands quickly and there is a growing demand for digital solutions, many tech firms have emerged as leaders in various industries. The ten Middle Eastern tech businesses with the greatest growth rates will be examined in this article, along with information on their accomplishments, contributions, and the changing nature of the regional tech ecosystem.
Ten Fastest-Growing Middle Eastern Tech and Crypto Companies
Careem (Now part of Uber)
Careem, which was established in 2012 in Dubai, quickly established itself as the top ride-hailing service in the region. Careem earned the moniker “Uber of the Middle East,” and it grew to represent quick, dependable transportation. Its success paved the path for ride-sharing to spread throughout the area. Today, Careem continues to innovate by expanding its services to include ride-hailing, food delivery, bike-sharing, and even payments through its Super App, catering to the evolving needs of the Middle East’s tech-savvy population.
Souq.com (Now Amazon Middle East)
The first online store in the Middle East was Souq.com, which was established in Dubai in 2005. Millions of customers had a platform to shop online through it, which offered a variety of goods from fashion to electronics. Souq.com’s potential was noticed by Amazon in 2017, and the company bought it to make its official foray into the Middle East.
Dinarak is a licensed mobile payment service provider by the Central Bank of Jordan that focuses on customer satisfaction and social effects. More than 400,000 consumers, companies, and governmental organizations are served by Dinarak’s comprehensive offering of cutting-edge digital financial services. Dinarak, which was founded in 2016, has been essential in boosting Jordan’s financial inclusion.
An influencer agency and platform called Brandripplr. To assist clients in executing successful influencer marketing campaigns, its network collaborates with more than 18,000 screened regional producers. Since its introduction, 500 clients have used Brandripplr to help launch more than 2,000 campaigns around the GCC.
Noon.com, a powerful rival to Souq.com (Amazon Middle East), entered the Middle Eastern e-commerce market in 2017. It was formed in the United Arab Emirates. It set itself apart by providing a wide range of products and quick delivery services.
Talabat introduced a user-friendly meal delivery platform and revolutionized the dining experience in the Middle East when it was founded in Kuwait in 2004. Due to the company’s quick growth, it has been easier for locals to get food from their preferred restaurants.
In order to meet the growing need for blockchain and cryptocurrency services in the Middle East, BitOasis was established in the United Arab Emirates in 2015. The website makes it simpler for locals to engage in the global cryptocurrency market by enabling users to buy, sell, and exchange a variety of digital assets.
Anghami, a company based in Beirut, Lebanon, became known as the “Spotify of the Middle East.” Established in 2012, it offers an Arabic-speaking population a music streaming service. Anghami is a preferred platform for music lovers in the area, thanks to its large Arabic and foreign music collection.
Swvl, a company founded in Cairo, Egypt, in 2017, provides a practical and economical app-based solution to the region’s transportation problems. Swvl has improved the effectiveness and accessibility of daily commuting for citizens of various Middle Eastern cities through its ride-sharing service. The company’s expansion has had a significant influence, particularly in heavily populated urban regions, where traffic congestion is a prevalent issue.
Last-mile delivery was a prevalent logistical difficulty in the Middle East until Fetchr was founded in Dubai in 2012. Fetchr improved the efficiency and dependability of package delivery by leveraging cutting-edge GPS technology. This completely changed how e-commerce businesses and other organizations handled delivery, ensuring prompt and precise dispatches.
The Middle East has become a hub for innovative businesses that are reshaping industries, from transportation and e-commerce to music streaming and cryptocurrency services, in the constantly changing world of technology and innovation.