Fahy, a growing game development studio in Saudi Arabia has raised $1.75 million in funding from Impact46 and Merak Capital. The investment highlights Fahy’s potential and its role in shaping the future of mobile gaming while supporting Saudi Arabia’s fast-growing gaming industry.
The studio was founded in early 2023 by Hani Hashem, Owis Alsaour and Fahad Alshibl. It gained strong momentum after joining NEOM’s LevelUp accelerator, where it grew from a small indie team into a scalable studio. Fahy also formed a publishing partnership with Kwalee, giving it access to global expertise in user growth, monetization, and game publishing.
Fahy’s strategy revolves around the hybrid casual genre, building games that blend accessibility with depth. Hani Hashem, CEO and Co-founder of Fahy, explains, “Today’s mobile gamers want more than fleeting experiences. They seek games that are easy to pick up but offer meaningful progression. Our goal is to create games that are instantly fun yet endlessly rewarding.”
Fahy has an exciting lineup of new games in development. One of them is RAWR, a monster-collecting RPG featuring unique battle mechanics, deep gameplay, and a rich storyline. Another is Footy Traps, a fast-paced PvP football game where players use strategy to outsmart opponents and climb the ranks.
The studio is also working on Heist Party, a fun multiplayer heist game where players can either team up or betray each other while competing to grab the biggest loot.
“This investment fuels our mission to push the boundaries of mobile gaming, expand our production capabilities, and attract top talent to the Kingdom.” Hani continues. “We started with a love for gaming and a big dream- to build global hit games from Saudi Arabia, for the world. While our journey is still in its early stages, the backing from Impact46 and Merak Capital is yet another testament to Saudi’s growing ecosystem that is empowering us to compete on the world stage.”
Impact46, a leading Saudi investment firm, emphasised the potential of the Saudi gaming market and the role of local studios in driving growth. Basmah Al Sinaidi Managing Partner at Impact46, stated, “Fahy is one of the unique Saudi studios that possesses great potential. We are looking forward to backing the team and their visionary approach to create exceptional games and experiences.” Abdulelah Alshareef, VP of Venture Capital at Merak Capital, highlighted the investment’s significance in shaping Saudi Arabia’s gaming industry: “The gaming industry in Saudi Arabia is evolving rapidly, and we see tremendous potential in homegrown studios like Fahy. Mobile gaming, in particular is a high-growth sector and Fahy Studios is uniquely positioned to create experiences that engage players worldwide. Our investment reflects our belief in their vision and our commitment to fostering the growth of Saudi Arabia’s gaming sector. At Merak Capital, we aim to empower startups that combine creativity with strong business models, and Fahy Studios embodies this approach. We are excited to support their journey in building a globally competitive mobile gaming company and contributing to the Kingdom’s ambition of becoming a gaming powerhouse.”
Saudi Arabia has more than 24 million gamers, which is about 67% of its population. Players in the Kingdom also spend more on games compared to the global average. With the global gaming industry expected to grow significantly by 2030, investing in game development and publishing is key to making Saudi Arabia a leading player in the gaming world.
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