Top 7 UAE Investors Fueling the Fintech Revolution

Top 7 UAE Investors Fueling the Fintech Revolution

Investors from the United Arab Emirates (UAE) are actively backing promising tech startups in the Middle East and North Africa (MENA), opening their wallets to innovative ventures and contributing to

The post Top 7 UAE Investors Fueling the Fintech Revolution appeared first on Fintechnews Middle East.Investors from the United Arab Emirates (UAE) are actively backing promising tech startups in the Middle East and North Africa (MENA), opening their wallets to innovative ventures and contributing to the region’s entrepreneurial growth.

Between 2018 and H1 2023, a total of 346 UAE investors have funded startups in the region, a new report by Magnitt, a data platform for investors, founders and corporates in the Middle East, says. 2022, in particular, was a record-breaking year for startup funding activity with an impressive 81 UAE-based investors contributing to the region’s startup ecosystem.

2018-H1 2023: Market Map of UAE-based Investors in MENA, Source: Magnitt and Expand North Star, Oct 2023

Among the top ten UAE-based investors, 41% of total deals during the period were orchestrated by the top five. These five venture capital (VC) firms, namely Shorooq Partners, Global Ventures, Wamda Capital, VentureSouq and Middle East Venture Capital (MEVP), are leading the market by holding top-5 ranks in both deal