New Report Highlights the Middle East as a New Global Fintech Contender

By Pierrick Ribes • 04 February 2025

A woman in a hijab smiles as she pays at a restaurant, with friends and delicious dishes visible on the table, representing Lucidity Insights' new report on Fintech in the Middle East.

The Middle East’s Fintech sector is on the rise. With over 1,500 Fintech startups, a staggering US $4.2 billion in funding raised in 2023, and 7 IPOs and 30+ M&A exits since 2022, the Middle East region is emerging as a growing region for Fintech innovation and investments. These achievements are no accident—they mark the culmination of a decade of strategic investments, bold entrepreneurial ventures, and supportive government policies.

Lucidity Insights' latest special report in partnership with SAP, titled "

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Mentioned Startup & VC Profiles

Sarwa

Sarwa is an online platform that makes investing in global markets simple and affordable for investors in the Middle East.

Tamara

Tamara offers a buy now, pay later platform that enables customers to pay in installments.

PayTabs

PayTabs is an online, mobile, social & next-generation payment processing powerhouse for merchants and super merchants.

Tabby

Tabby is a buy now, pay later (BNPL) platform that allows shoppers to split their purchases into multiple installments at no additional cost from various merchants.

Geidea

Geidea is a leading fintech and fully licensed payment service provider offering digital banking technology, smart payment terminals, and business management solutions.

eToro

eToro has emerged as a global Fintech leader, reshaping financial engagement with social trading and crypto innovation. Founded in Tel Aviv in 2007, eToro democratized trading for 38 million users across 75 countries.

Midas

Midas is Turkey’s largest retail investing app, offering Turkish and U.S. equities at low commissions. We provide the most seamless user experience for investing in equities.

Global Ventures

Global Ventures is a UAE-based international venture capital firm investing in founders and ideas across emerging markets.

Y Combinator

Y Combinator is a startup accelerator that invests in a wide range of startups.

Related Report

The State of Fintech in the Middle East

With 1,500+ fintechs, $4.2B in 2023 funding, 7 IPOs, 30+ M&A exits, and the rise of unicorns and superapps, the Middle East’s fintech sector is transforming into a global powerhouse. Discover the key players, emerging trends, and market forces shaping the future of finance in MENAT.