Why did investments into MENA fintechs boom in 2021? – Arabian Business
- Date: 12-May-2022
- Source: Arabian Business
- Sector:Economy
- Country:Middle East
Why did investments into MENA fintechs boom in 2021? – Arabian Business
Venture capital (VC) investment into fintech companies based in the Middle East and North Africa (MENA) exploded in 2021 and continues to grow this year.
According to a recent Magnitt report, funding for MENA startups more than doubled on an annual basis in Q1 to about $864 million, with fintechs accounting for 41 percent of total funding raised.
That represents a lot of paper money made by founders, employees, venture capitalists and community partners.
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