The Top 10 MEA Countries with the Most Fintech Startups

The fintech industry is a key driver of financial inclusion for both unserved and underserved individuals, as well as SMEs. In Sub-Saharan Africa, fintech contributes a substantial US $150 billion to the region’s GDP. Israel's fintech sector accounts for approximately 11% of the country's GDP, while in Turkey, the industry is valued at US $15 billion, with an annual growth rate of 14%. Similarly, the Arab world’s fintech sector is estimated to be worth at least US $15 billion.

Across the MEA region, more than 40% of the 3,700+ fintech startups are based in Turkey, the UAE, and Israel. Meanwhile, 60% of Africa's fintech activity is concentrated in the "Big 4": Nigeria, Kenya, Egypt, and South Africa.

The top three fintech sectors in MEA are:

1. Payments, money transfers, and remittances
2. Lending solutions
3. Wealthtech and investment platforms