UAE Edition 
Egypt Edition 
Saudi Edition 
MENA <> India Corridor 
Logistics (MENA) 
Climate (MENA) 
Share
Read Full Issue 
The UAE led the Mena region in terms of startup investments in 2024 with USD 1.1 bn across 207 transactions, marking a 15.4% y-o-y increase compared to 2023, according to Wamda’s 2024 Year In Review report (pdf). The country’s investments accounted for 47.8% of total startup investments in the region, which amounted to USD 2.3 bn. The UAE’s investor portfolio included 89 foreign investors and 92 regional ones.
Which sectors were the most popular? Fintech was the leading sector for startup investments in the UAE last year with USD 265 mn in investments, followed by Web3 (USD 258 mn) and proptech (USD 197 mn).
MEANWHILE, ON THE REGIONAL FRONT-
The Mena region’s total startup investments declined by 42% y-o-y to USD 2.3 bn in 2024 across 610 transactions. Rounds taking place without debt amounted to USD 2 bn, while debt-enabled transactions reached USD 331 mn.
The most popular sectors in 2024 for venture investors: The fintech sector accounted for 30% of total investments in the region in 2024, with USD 700 mn injected into 119 fintech startups — followed by web3 at USD 260 mn, and e-commerce at USD 253 mn in investments.
Early stage investments accounted for the bulk of investments last year with a total exceeding USD 1.2 bn across 300 startups and ranging from pre-seed to Series A stages. The later stages reached a total of USD 332 mn across 10 transactions, while only two startups secured pre-IPO rounds with a value of USD 143.3 mn.
The B2B model took the lead with USD 1.2 bn in investments across 325 startups, followed by the B2C field with USD 717 mn, with the hybrid model amounting to USD 311.7 mn and direct-to-consumer to USD 25.5 mn.
How do these figures compare? Wamda’s estimates for startup investments in the UAE during the year are higher than Magnitt’s, which had pegged total funding for startups in the country at USD 613 mn during 2024. This figure puts it in second place, following Saudi Arabia’s USD 750 mn startup investments. Wamda’s estimate for total investments in the region was also higher, with Magnitt’s total startup investments amounting to USD 1.5 bn, marking a 29% y-o-y decline in comparison to 2023. Meanwhile, both reports agree that early-stage investments are becoming more appealing to investors than late-stage rounds.
