MAGNiTT's Q3 2023 MENA FinTech Venture Investment Report is out! The report analyzes how global macroeconomic conditions and regional developments have impacted FinTech investment in the MENA region. Read it now for all the latest data and highlights!
In the first nine months of 2023, FinTech continued to reign over MENA’s industries. The industry showed resilience amid a challenging global financial environment marked by rising interest rates and evolving technological disruptions in the MENA region. The global FinTech sector faced difficulties due to the Federal Reserve's sustained high-rate direction, impacting borrowing dynamics and operational margins. The global decline was also reflected in the MENA’s FinTech sector. However, despite a 47% year-on-year reduction in total funding to $484M, the industry’s SEED valuations remained stable.
Within the FinTech venture capital landscape, the MENA FinTech scene saw deals and deployed capital retreat by over 40% year-on-year. This decline left a gap of 80 deals and $622M to 2022 numbers as of Q3. Compared to Q2 2023, funding and deals in Q3 remained essentially unchanged. While Q3 marked the second consecutive quarter of no MEGA deals for the sector, Q4 has already witnessed $200M for Buy Now, Pay Later startup Tabby.
Pro Tip: Subscribers can access the Platform's Advanced Analytics tools to make customized cuts by country, industry, stage, and many more spanning MENA, Africa, South East Asia, Turkey, and Pakistan: Contact our sales team to learn more.
What’s in the Report?
The report highlights the performance of the FinTech VC ecosystem in the past nine months of the year. It includes,
Market Map of Funded FinTech Startups in MENA
Funding and Deals Overview
Deal Share Breakdown by Round Size
Sub-Industry Funding and Deals Evolution
SEED and Series “A” Mean & Median Valuation Evolution
Funding and Deals Evolution by Country
Investor Evolution by Region
Investor Evolution by Investor Type
Top 10 Deals in 2023
Top 10 Investors in 2023 by Deals and Estimated Capital Deployed
If you'd like to access the report, contact [email protected].
Things to Consider in Q4
As we step into the final quarter of the year, we have already witnessed one MEGA deal that went towards BNPL startup Tabby, which is likely to affect the trajectory of funding positively. Whether or not this could rival last year’s Q4 performance remains uncertain. Moreover, there have been significant fund announcements throughout the year from key players like SVC, KAUST, and Chimera Capital, among others. The transformation of these funds into concrete investments, whether in Q4 or the upcoming year, is yet to be seen.
What is in the report?
The latest quarterly report offers strategic insights into the performance of the FinTech VC ecosystem in MENA. This report covers a 5-year analysis of FinTech's venture funding evolution, specifically focusing on the country comparison and subindustries' performance in 2023. You will get access to vital information such as:
FinTech Venture Funding Evolution: Get a detailed analysis of the past five years, highlighting the growth and development of venture funding in the country, focusing on performance in Q3 2023.
Key rankings include the Top 10 investors, Top 10 funding rounds, and 5-year exit evolution of FinTech.
Who is it for?
Whether you’re a private investor, a VC, an investment company, a CVC, or working in corporate, this report gives an overview of the ecosystem. It caters to a diverse audience, including any curious minds who want to use this report's yearly, quarterly, and monthly charts to track investment activity.
You can also see which country and industry the investment activity focused on deals and capital deployed, allowing you to leverage insights and make wise choices.
The report can also be used by consultants looking to identify technology innovation trends and who will find it valuable to look at the evolution of M&A activity and concentration of acquirers/acquired startups.
Last but not least, government entities searching for investment opportunities will also find valuable information to make informed decisions.
Where is this information from?
The report was 100% created using data from MAGNiTT. MAGNiTT is the leading VC-verified data platform and offers a comprehensive directory of technology innovation trends. Our unique SaaS solution includes investment directories listing startup venture funding across the Middle East, Africa, Pakistan, Turkey, and now Singapore. By using MAGNiTT, you will also get access to market sizing tools to visualize investment growth and trends across various industries, geographies, and stages, as well as comparison tools for benchmarking geographies, industries, and investor performance. Furthermore, MAGNiTT offers exit comparisons by examining mergers and acquisitions.