The Fintech 2022 Emerging Venture Markets (EVM) Venture Investment Report is one of MAGNiTT's flagship industry reports that takes a comprehensive look at the sector’s full-year performance in 2021 within the venture capital and startup ecosystems in the Middle East, Africa Turkey and Pakistan.


Fintech has been a prominent beneficiary of the return of a risk-on approach by investors globally in 2021. Both funding deployed into the industry and the number of deals closed by Fintech startups scaled to a record-high in 2021, growing by 550% and 56% YoY repectively. 

Fintech ranked in the top 3 industries by both funding and deals across the Middle East, Africa and Pakistan. Across all Emerging Venture Markets (including Turkey), the industry accounted for one-fifth of all VC deals (21%) and 31% of all venture capital deployed into startups.

Take a look at some high-level geography-specific insights from the report below. 


                         To keep track of real-time data on Fintech funding and deals, contact our sales team here 


Key highlights - Fintech 2022 Venture Investment Report

 

MENA:

• Fintech startups recorded a 183% year-over-year growth in funding in 2021 - the highest yearly growth rate over the past five years. 
• Most of the Fintech deals (32%) and funding (49%) across MENA in 2021 was focused in the UAE 
• Four exits were announced by Fintech startups in 2021- highets in a single year

 

 



AFRICA

• Funding poured into Fintech startups in Africa grew by 852% between 2020 and 2021
• Fintech startups raised a total of five mega deals ($100M+ rounds) in Africa in 20211
• Eleven Fintech startups announced exits across Africa in 2021

 

 

 


 

PAKISTAN:

• In a record 2021, the YoY growth in both funding (+2,571%) and deals (+300%) noted by Pakistan’s Fintech startups was the highest across all Emerging Venture Markets 
• 15 times more investors backed Pakistan’s fintech startups in 2021 than in 2020
• Fintech ranked 1st in Pakistan by deal count in 2021

 

 


 

TURKEY:

• 2021 was a record year for Fintech deals and funding in Turkey
• The highest ever Fintech round in Turkey was closed in 2021
• One Fintech startup announced its acquisition in 2021

 

 

 


 

 

 

What’s In The Report?

This report provides a comprehensive overview and a deep dive into the Middle East, Africa, Pakistan and Turkey Fintech venture capital and funding investment space and includes the following: 

• A 5-year analysis of Fintech venture funding evolution, with a focus on country and industry performance benchmarks
• A 2-year quarterly Fintech funding breakdown and comparison of all Emerging Venture Markets

Top 10 investor ranking, together with the business type and HQ analysis of all investment firms 

Top 10 startup Fintech funding rounds that were closed during the analyzed period, as well as the ticket size split of the entire deal flow

• Fintech exit evolution across all Emerging Venture Markets


This report was created with data from MAGNiTT, a comprehensive directory of technology innovation trends. The platform provides the following analytics tools:

Investment directories, a comprehensive list of all startup venture funding across the Middle East, Africa, Pakistan, and Turkey

Market Sizing Tools to visualize investment growth and trends across industries, geographies, and stage

Startup Resources including a deal flow tool for applications to leading Venture Capitalists for investment

Exit comparisons, looking at Mergers & Acquisitions from across the region

 

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