Morocco held its fourth place in the Middle East and North Africa (MENA) for startup funding, securing $12.3 million across three deals in October, according to a new report by Wamda, a platform tracking entrepreneurship across the region.
The performance comes at a time when regional funding sharply declined by 77% compared to September.
Startups in the MENA region raised $784.9 million through 43 deals, a massive drop from the $3.5 billion recorded a month earlier.
The report attributes this fall to a slowdown in large, high-value deals that had previously boosted the totals.
Despite the regional slump, Morocco’s startup scene showed stability and maturity, with deals spread across multiple sectors, a sign of diversification that helps reduce risk and maintain investment flow.
Most Moroccan startups remain in their growth stage, focusing on hybrid business models that target consumers directly.
Across the region, the United Arab Emirates maintained its lead, raising $615.7 million, largely driven by a $525 million debt round by Property Finder.
Saudi Arabia came second with $119.3 million, while Egypt followed with $33.3 million from five deals, surpassing its total for the entire third quarter.
The report raises the issue of the rise of debt financing, which made up 72% of all startup funding in October.
Early-stage companies still attracted investor interest, accounting for 32 deals worth $95.2 million, while late-stage funding slowed down significantly.
However, the gender gap in funding remains wide. Startups led by men received 93% of total investment, while female-founded companies secured just $4.5 million through three deals.
Morocco’s main challenge is helping startups reach larger funding rounds that would allow them to expand and tap into new markets.
Still, the country’s consistent performance shows a resilient and evolving startup ecosystem that continues to attract investors even as regional funding tightens.
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