{"id":599781,"date":"2019-01-10T04:43:51","date_gmt":"2019-01-10T04:43:51","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/01\/10\/egypt-fastest-growing-startup-market-in-mena-which-raised-usd-893-mn-in-2018\/"},"modified":"2019-01-10T04:43:51","modified_gmt":"2019-01-10T04:43:51","slug":"egypt-fastest-growing-startup-market-in-mena-which-raised-usd-893-mn-in-2018","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/01\/10\/egypt-fastest-growing-startup-market-in-mena-which-raised-usd-893-mn-in-2018\/","title":{"rendered":"Egypt fastest growing startup market in MENA which raised USD 893 mn in 2018"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <b>Is Egypt the fastest growing startup market in MENA?<\/b> Egypt is the fastest growing startup ecosystem and the second largest after the UAE, according to start-up platform MAGNiTT\u2019s 2018 Mena Venture Investment Report \u2014 <u><a href=\"https:\/\/admin.magnitt.com\/sites\/default\/files\/2018_MENA_Venture_Investment_Summary_MAGNiTT_18.pdf\">summary (pdf)<\/a><\/u> and <u><a href=\"https:\/\/magnitt.com\/research\/2018-mena-venture-investment-report\">full report (paywall)<\/a><\/u>. Egypt\u2019s share of total number of seed funding agreements grew by 7% y-o-y to USD 196.5 mn, representing 22% of all MENA closes in 2018. We came in second to the UAE, who retained the top position with a 30% share and 70% of total funding proceeds. \u201cEgypt is seeing a second wave of entrepreneurs and investors that are more mature and experienced. The population is also starting to embrace technology for everyday activities,\u201d Algebra Ventures Managing Partner Ziad Mokhtar said. Egypt was followed by Lebanon (with a market share of 10%), Jordan (8%) and Saudi Arabia (7%).<\/p>\n<p><b>MENA startups raise USD 893 mn in 2018 seed funding: <\/b>MENA startups attracted some USD 893 mn in seed funding in 2018, up 31% from the previous year, according to the report. A total of 366 funding agreements were inked, up 3% from 2017. The agreements included 14% of which were inked in series A rounds, 3% in series B and 2% in series C and higher. More than 155 different institutions took part \u2014 30% of which were from outside the region and 47% first-ever MENA investors. Our friends at Flat6Labs were among MENA\u2019s most active investors.<\/p>\n<p><b>Ride-hailing app Careem and real estate website <\/b><b><u><a href=\"https:\/\/www.propertyfinder.eg\/en\/search?c=1&l=&q=&t=&pf=&pt=&bf=&bt=&ft=&&mkwid=s4frnpLgq_dc&pcrid=155991187339&pkw=property%20finder&pmt=p&gclid=EAIaIQobChMI9IGT0-Xh3wIVx5QYCh0B2g6dEAAYASAAEgKrSfD_BwE&gclsrc=aw.ds\">Property Finder<\/a><\/u><\/b><b> led the pack<\/b>. The former attracted USD 200 mn in series F funding in October while the latter USD 120 mn in its November \u2018growth\u2019 round. Saudi-based online store <u><a href=\"https:\/\/ar-sa.wadi.com\/\">Wadi.com<\/a><\/u> also attracted a record USD 30 mn in series B investments for Majid Al Futtaim Group. Other notable recipients include mass transit app Swvl, which MAGNiTT estimated raised more than USD 20 mn in a recent <u><a href=\"https:\/\/enterprise.press\/stories\/2018\/11\/25\/swvl-valued-at-usd-100-mn\/\">series B round<\/a><\/u>.<\/p>\n<p><b>Fintech overtook e-commerce as the most active industry<\/b>, accounting for 12% of the total agreements while the latter came in second at 11%. Notable fintech recipients included UAE-based insurance technology company <u><a href=\"https:\/\/www.aqeed.com\/\">Aqeed.com<\/a><\/u>, which attracted USD 18 mn, and robo-advisors <u><a href=\"https:\/\/wahedinvest.com\/\">Wahed Invest<\/a><\/u>, which secured USD 8 mn, in series A rounds. Delivery and transport (8%), IT solutions (8%), food and beverages (7%) and education (6%) were next in line as top industries.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Is Egypt the fastest growing startup market in MENA? Egypt is the fastest growing startup ecosystem and the second largest after the UAE, according to start-up platform MAGNiTT\u2019s 2018 Mena Venture Investment Report \u2014 summary (pdf) and full report (paywall). Egypt\u2019s share of total number of seed funding agreements grew by 7% y-o-y to USD [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":599782,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[199,73,72,203,183,900,125,345,83,328,2380,123,207,200],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-599781","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-e-commerce","tag-education","tag-enterpriseam","tag-entrepreneurship","tag-fintech","tag-food-and-beverage","tag-investment-watch","tag-mena","tag-real-estate","tag-ride-hailing","tag-speed-round","tag-startups","tag-transport","tag-venture-capital","wpautop","entry"],"acf":{"mongo_id":"3e46cea6-b44e-4707-bccd-253f2474e331","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2019\/1\/2835.jpg","photo_position":"above","related_issue":[599776],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Egypt fastest growing startup market in MENA which raised USD 893 mn in 2018 - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2019\/01\/10\/egypt-fastest-growing-startup-market-in-mena-which-raised-usd-893-mn-in-2018\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt fastest growing startup market in MENA which raised USD 893 mn in 2018\" \/>\n<meta property=\"og:description\" content=\"Is Egypt the fastest growing startup market in MENA? Egypt is the fastest growing startup ecosystem and the second largest after the UAE, according to start-up platform MAGNiTT\u2019s 2018 Mena Venture Investment Report \u2014 summary (pdf) and full report (paywall). Egypt\u2019s share of total number of seed funding agreements grew by 7% y-o-y to USD [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2019\/01\/10\/egypt-fastest-growing-startup-market-in-mena-which-raised-usd-893-mn-in-2018\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2019-01-10T04:43:51+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2019\/1\/2835.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/01\/10\/egypt-fastest-growing-startup-market-in-mena-which-raised-usd-893-mn-in-2018\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/01\/10\/egypt-fastest-growing-startup-market-in-mena-which-raised-usd-893-mn-in-2018\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Egypt fastest growing startup market in MENA which raised USD 893 mn in 2018\",\"datePublished\":\"2019-01-10T04:43:51+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/01\/10\/egypt-fastest-growing-startup-market-in-mena-which-raised-usd-893-mn-in-2018\/\"},\"wordCount\":365,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/01\/10\/egypt-fastest-growing-startup-market-in-mena-which-raised-usd-893-mn-in-2018\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2019\/1\/2835.jpg?fit=%2C&ssl=1\",\"keywords\":[\"e-commerce\",\"Education\",\"EnterpriseAM\",\"entrepreneurship\",\"Fintech\",\"food and beverage\",\"investment watch\",\"MENA\",\"real estate\",\"ride-hailing\",\"SPEED ROUND\",\"startups\",\"transport\",\"venture capital\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/01\/10\/egypt-fastest-growing-startup-market-in-mena-which-raised-usd-893-mn-in-2018\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2019\/01\/10\/egypt-fastest-growing-startup-market-in-mena-which-raised-usd-893-mn-in-2018\/\",\"name\":\"Egypt fastest growing startup market in MENA which raised USD 893 mn in 2018 - 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Egypt\u2019s share of total number of seed funding agreements fell 1% y-o-y, but the UAE, which topped the ranking in\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/1\/583.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":592061,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/25\/egypt-tops-african-countries-in-vc-transactions-in-2019-says-venture-burn\/","url_meta":{"origin":599781,"position":1},"title":"Egypt tops African countries in VC transactions in 2019, says Venture Burn","author":"enterpriseam admin","date":"25 December 2019","format":false,"excerpt":"Egypt tops African countries in disclosed VC transactions in 2019: Egyptian startups received the biggest number and funding value of venture capital (VC) transactions that went to early-stage African startups in 2019, according to Venture Burn. Egypt accounted for 27% of disclosed transactions by volume and 25% by value. The\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2019\/12\/1210.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":572737,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/07\/07\/egypt-remains-most-active-vc-market-in-mena-in-1h2020-magnitt\/","url_meta":{"origin":599781,"position":2},"title":"Egypt remains most active VC market in MENA in 1H2020 -Magnitt","author":"enterpriseam admin","date":"7 July 2020","format":false,"excerpt":"Egypt remained the most active venture capital market in MENA during 1H2020 with 25% of all transactions in the region, according to the 1H2020 update to Magnitt\u2019s MENA Venture Investment Report. Egypt\u2019s share remained unchanged from the startup platform\u2019s full-year 2019 data, but edged up 2% from data collected during\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/7\/42.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":594273,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/10\/24\/egypt-is-the-second-most-active-fintech-startup-hub-in-mena-but-still-receives-little-funding-report\/","url_meta":{"origin":599781,"position":3},"title":"Egypt is the second most active FinTech startup hub in MENA, but still receives little funding -report","author":"enterpriseam admin","date":"24 October 2019","format":false,"excerpt":"STARTUP WATCH- Egypt is the second most active FinTech startup hub in MENA, but still receives little funding: Egypt\u2019s share of 51 disclosed fintech startup funding agreements closed in the MENA region in the first nine months of the year grew to 27%, or about 13 agreements, from only 13%\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2019\/10\/55.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":567939,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/13\/egypt-ranks-third-in-november-startup-funding-league-table-wamda\/","url_meta":{"origin":599781,"position":4},"title":"Egypt ranks third in November startup funding league table -Wamda","author":"enterpriseam admin","date":"13 December 2020","format":false,"excerpt":"Egyptian startups raised USD 6.6 mn in venture capital funding last month, putting them in third place in MENA behind the UAE and Saudi Arabia, Wamda said in a recent report. Egypt saw nine transactions in November (tying with the UAE in first place), that included creative tech startup Argineering,\u2026","rel":"","context":"In &quot;Startup watch&quot;","block_context":{"text":"Startup watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/startup-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":559202,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/01\/13\/startup-funding-increases-31-in-egypt-in-2020\/","url_meta":{"origin":599781,"position":5},"title":"Startup funding increases 31% in Egypt in 2020","author":"enterpriseam admin","date":"13 January 2021","format":false,"excerpt":"Egypt held the second-biggest share of venture capital investment in MENA last year, falling behind the UAE, which accounted for a whopping 56% of the total funding amount last year, according to Magnitt\u2019s MENA Venture Investment Report. Egypt\u2019s VC funding inflows jumped 31% y-o-y in 2020, helping it to increase\u2026","rel":"","context":"In &quot;Startup watch&quot;","block_context":{"text":"Startup watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/startup-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/1\/144.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/599781","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=599781"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/599781\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/599776"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/599782"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=599781"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=599781"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=599781"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=599781"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=599781"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}