Is This UAE Startup Rethinking Access to Capital?
In a region where access to capital often remains a hurdle for small businesses, one UAE-based fintech startup is setting its sights on making alternative, Shariah-compliant financing more accessible—and inclusive. Gainz, founded just months ago in December 2024, has announced the closing of its 7-figure USD pre-seed investment round, combining both equity and debt financing.
The round drew support from regional heavyweights, including Antler MENAP, Lithium Holdings, and Eleventh Invest Inc. A number of high-net-worth individuals from across the Middle East also participated in the round, showing a broad base of early confidence in Gainz’s potential.
The startup’s mission is clear: to reshape how SMEs across the GCC access working capital—one of the most persistent and unresolved challenges in the region. Despite contributing significantly to job creation and GDP, many SMEs in the Middle East still struggle to secure financing from traditional lenders. The result? A regional funding gap estimated at over US$200 billion.
Gainz is looking to change that, starting with a model that blends Shariah-compliant alternative financing solutions with a crowdfunding element that allows individuals to invest small amounts for potentially attractive returns. It's a way of rethinking access—on both sides of the equation.
The company is the brainchild of Egyptian serial entrepreneurs Shehab Mokhtar and Sherif Abdelaty. With a combined two decades of experience building, scaling, and successfully exiting multiple ventures across various industries, the duo is no stranger to identifying market gaps and tackling them with practical, technology-driven solutions.
Their journey with Antler MENAP, the global early-stage VC, began when they joined the Riyadh cohort in October 2024. According to Romain Assuncao, Partner at Antler MENAP, the Gainz founding team stood out from the start.
“When the Gainz founding team joined our Riyadh-based cohort in October 2024, and as they successfully navigated our rigorous qualification, vetting, and assessment processes. From the outset, it was clear they were a standout team—highly aligned, mission-driven, and committed to solving a critical challenge for SMEs across the MENA region,” said Assuncao. “As we watched them progress and shape their vision, we saw not only strong potential but also the capacity for real regional impact.”
The latest round gives Gainz the financial room to begin testing and scaling its model. And while the startup is still in its early days, its timing—and intent—may be aligned with a broader shift across the region, where regulators and financial institutions are warming up to more flexible, tech-driven financing solutions for small businesses.
For now, all eyes will be on how Gainz deploys its funding and whether its model can gain traction among the thousands of SMEs still looking for reliable, accessible ways to fund their growth.
