Fahy, a rising game development studio in Saudi Arabia, has secured strategic investment of 1.75mn USD from Impact46 and Merak Capital. This milestone reflects the studio’s potential and its commitment to shaping the future of mobile gaming while contributing to Saudi Arabia’s expanding gaming ecosystem.
Last week, Saudi VC Impact46 invested $6.6m in five studios, and Fahy was among those studios.
Founded in early 2023 by Hani Hashem, Owis Alsaour, and Fahad Alshibl, Fahy rapidly gained momentum upon their enrollment in NEOM’s exclusive LevelUp accelerator, where they transformed from an indie team into a scalable studio. The studio further expanded its reach through a publishing partnership with Kwalee, gaining access to world-class expertise in user acquisition, monetization, and global game publishing.
Fahy’s strategy revolves around the hybrid casual genre, building games that blend accessibility with depth.
“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.
This investment fuels our mission to push the boundaries of mobile gaming, expand our production capabilities, and attract top talent to the Kingdom.
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.”
Hani Hashem, CEO and Co-founder of Fahy
Fahy’s ambitious pipeline features multiple titles including RAWR, an expansive monster-collecting RPG with unique battle mechanics, deep meta elements, and an immersive storyline; Footy Traps, a fast-paced PvP football game where strategy is key to outsmarting opponents and climbing the ranks; and Heist Party, a chaotic multiplayer heist game where players can team up or betray each other in a race for the biggest loot.
Impact46, a leading Saudi investment firm, emphasized 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 possess great potential. We are looking forward to backing the team and their visionary approach to create exceptional games and experiences.”
Basmah Al Sinaidi, Managing Partner at Impact46
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.”
Abdulelah Alshareef, VP of Venture Capital at Merak Capital
