Financial technology funding across the Middle East and North Africa saw a 650% increase between 2020 and 2023, even amid a global economic downturn driven by the coronavirus pandemic, according to a report released Monday.
The industry raised $186 million across 50 deals in the first half of 2024, representing an almost flat 3% year-on-year decrease in non-mega funding and a 2% year-on-year decline in deals, according to the report released by venture capital data firm MAGNiTT.
The report said fintech is one of the most funded and transacted industries across the MENA region, accounting for 24% of all venture investment in the region in the first…
