{"id":650435,"date":"2017-03-23T04:12:44","date_gmt":"2017-03-23T04:12:44","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/23\/prospects-looking-good-for-fintech-startups-in-mena\/"},"modified":"2017-03-23T04:12:44","modified_gmt":"2017-03-23T04:12:44","slug":"prospects-looking-good-for-fintech-startups-in-mena","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/23\/prospects-looking-good-for-fintech-startups-in-mena\/","title":{"rendered":"Prospects looking good for fintech startups in MENA"},"content":{"rendered":"

Prospects for fintech startups in MENA are apparently looking good,<\/strong> with their numbers growing 50% between 2013 and 2015 to 105 companies from a 46, according to a report form Payfort and Wamda released this week. That number is expected to grow to 250 startups by 2020. Egypt is home to 16% of all fintech companies in the MENA region, but comes a far second to the UAE with 29% of all companies. The sector has managed to raise USD 100 mn in investments over the past decade, and expects to attract USD 50 mn in 2017 alone. Fintech investments globally have reached were estimated at USD 16.1 bn in 2016, down from USD 22.3 bn in 2015, though that downside doesn\u2019t appear to be reflected in the region. It is projected that e-commerce will grow to a USD 29 bn industry by 2020 in MENA. You can catch the full report here<\/a>, or the video summary of the report (watch<\/a>, runtime: 2:03).<\/p>\n","protected":false},"excerpt":{"rendered":"

Prospects for fintech startups in MENA are apparently looking good, with their numbers growing 50% between 2013 and 2015 to 105 companies from a 46, according to a report form Payfort and Wamda released this week. That number is expected to grow to 250 startups by 2020. Egypt is home to 16% of all fintech […]<\/p>\n","protected":false},"author":1,"featured_media":650436,"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":[9004],"tags":[72,2388],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-650435","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-worth-watching","tag-enterpriseam","tag-worth-watching","wpautop","entry"],"acf":{"mongo_id":"6b141f9d-80a0-411d-b864-625d00f6dac3","order":"0","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2017\/3\/1628.jpg","photo_position":"above","related_issue":[650409],"teaser":"","voice_url":""},"yoast_head":"\nProspects looking good for fintech startups in MENA - 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\/2017\/03\/23\/prospects-looking-good-for-fintech-startups-in-mena\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Prospects looking good for fintech startups in MENA\" \/>\n<meta property=\"og:description\" content=\"Prospects for fintech startups in MENA are apparently looking good, with their numbers growing 50% between 2013 and 2015 to 105 companies from a 46, according to a report form Payfort and Wamda released this week. That number is expected to grow to 250 startups by 2020. Egypt is home to 16% of all fintech […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2017\/03\/23\/prospects-looking-good-for-fintech-startups-in-mena\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2017-03-23T04:12:44+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2017\/3\/1628.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=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/03\/23\/prospects-looking-good-for-fintech-startups-in-mena\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/03\/23\/prospects-looking-good-for-fintech-startups-in-mena\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Prospects looking good for fintech startups in MENA\",\"datePublished\":\"2017-03-23T04:12:44+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/03\/23\/prospects-looking-good-for-fintech-startups-in-mena\/\"},\"wordCount\":153,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/03\/23\/prospects-looking-good-for-fintech-startups-in-mena\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2017\/3\/1628.jpg?fit=%2C&ssl=1\",\"keywords\":[\"EnterpriseAM\",\"worth watching\"],\"articleSection\":[\"Worth watching\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/03\/23\/prospects-looking-good-for-fintech-startups-in-mena\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2017\/03\/23\/prospects-looking-good-for-fintech-startups-in-mena\/\",\"name\":\"Prospects looking good for fintech startups in MENA - 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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 "Speed Round"","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":565115,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/21\/egypt-fuels-2020-mena-e-commerce-boom\/","url_meta":{"origin":650435,"position":1},"title":"Egypt fuels 2020 MENA e-commerce boom","author":"enterpriseam admin","date":"21 March 2021","format":false,"excerpt":"Egypt, Saudi Arabia and the UAE led a boom in e-commerce in the MENA region last year, as the covid-19 pandemic forced consumers online, according to a new study published last week. The value of the region\u2019s e-commerce sector surged 52% to reach USD 22 bn by the end of\u2026","rel":"","context":"In "SPEED ROUND: E-COMMERCE"","block_context":{"text":"SPEED ROUND: E-COMMERCE","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-e-commerce\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/3\/508.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":555643,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/22\/venturesouq-launches-usd-50-mn-mena-fintech-fund\/","url_meta":{"origin":650435,"position":2},"title":"VentureSouq launches USD 50 mn MENA fintech fund","author":"enterpriseam admin","date":"22 November 2021","format":false,"excerpt":"Dubai-headquartered Venture capital firm VentureSouq has formally launched a USD 50 mn fintech fund that has already made several investments in Egyptian startups this year, it said in a statement (pdf). The MENA Fintech Fund I has deployed capital in Egyptian digital trucking platform Trella, which this year closed a\u2026","rel":"","context":"In "Startup watch"","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\/11\/546.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":543298,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/23\/2021-was-a-bumper-year-for-emerging-market-venture-capital-funding\/","url_meta":{"origin":650435,"position":3},"title":"2021 was a bumper year for emerging market venture capital funding","author":"enterpriseam admin","date":"23 January 2022","format":false,"excerpt":"2021 was a bumper year for EM VC funding: Among emerging markets, 2021 saw soaring increases in the number of venture capital agreements signed and the sheer scale of funding channeled into startups, according to Magnitt\u2019s recently-released 2022 State of Startup Funding Report for Emerging Markets (pdf). Records were smashed\u2026","rel":"","context":"In "PLANET STARTUP"","block_context":{"text":"PLANET STARTUP","link":"https:\/\/enterpriseam.com\/egypt\/category\/planet-startup\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/1\/493.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":650435,"position":4},"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 "Speed Round"","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":566712,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/08\/eight-egyptian-startups-raise-usd-52-mn-in-june\/","url_meta":{"origin":650435,"position":5},"title":"Eight Egyptian startups raise USD 52 mn in June","author":"enterpriseam admin","date":"8 July 2021","format":false,"excerpt":"Egyptian startups were the second highest recipients of funding in MENA in June, with eight businesses raising USD 52 mn, according to Wamda. 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