The Fintech Q2 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 2022 within the venture capital and startup ecosystems in the Middle East, Africa Turkey and Pakistan.
FinTech remains the industry of choice for investors across MEAPT as the sector observed funding overflow in Q1 2022. Both funding deployed into the industry and the number of deals closed by Fintech startups scaled significantly QoQ, growing by 243% and 52% increases respectively.
The FinTech sector was the leading industry across MEAPT driving 28% of total transactions and 29% of total funding in Q1 2022. The sector was championed by Nigeria, driving 27% of total FinTech deals and 36% of capital investment, followed by the UAE and Kenya.
Take a look at some of the top-level geography-specific insight from the report below.
Access this and many data-driven reports like it. Subscribe to our platform today
Key highlights - Fintech Q1 2022 Venture Investment Report
MENA
• Fintech startups recorded a 540% quarter-on-quarter growth in funding in Q1 2022 to reach a new all-time high quarterly record.
• Most of the Fintech deals (41%) and funding (35%) across MENA in Q1 2022 were focused in the UAE
• 1 Mega Deal ($100M+) was recorded in MENA over Q1’22 with a $110M Series B closed by Cryptocurrency platform Rain (Bahrain)
AFRICA
• Funding poured into Fintech startups in Africa over Q1 2022 recorded a 197% growth compared to Q1’21
• Most of the Fintech deals (43%) and funding (54%) across Africa in Q1 2022 were raised in Nigeria
• 1 Mega Deal ($100M+) was recorded in Africa over Q1’22 with a $250M Series D closed by Nigerian digital payment solutions provider Flutterwave
PAKISTAN
• The 4 FinTech deals closed in Pakistan over Q1 2022 resulted in a 200% QoQ growth in funding
• Investments in alternative payment and financing providers NayaPay($13M) and MyTm ($6.9M) accounted for 83% of total investment in the sector
• Fintech ranked 1st in Pakistan by deal count and 2nd by total funding over Q1 2022
TURKEY
• The FinTech market in Turkey raised twice the amount of funding compared to Q1’21despite closing the same amount of deals over Q1 2022
• 1 Deal closed by Investment & Capital markets Tech startup Midas ($11M) accounted for 70% total capital invested in the sector over Q1’22
• One Fintech startup announced its acquisition in Q1 2022
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
Sign-up for a demo to learn more about how our platform can help you make data-driven decisions