10 Most Funded MENA Startups (2023)

In 2023, the MENA region attracted over US $2.3 billion in funding across various types such as equity and debt financing. Despite a decline in overall funding compared to 2021 and 2022, certain sectors demonstrated robust resilience. Fintech emerged as a leading sector, with seven out of the ten most-funded startups belonging to this category. Notably, Tabby led the pack by securing over US $1.4 billion—double the amount raised by Tamara, which ranked second on the list.

Below are the top 10 most funded startups in MENA for 2023:

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Investing in Egypt’s Startup Ecosystem

Micro, Small and Medium Enterprises contribute over 40% to Egypt’s economy, and account for over 75% of the country’s total employment. Entrepreneurship is critical to Egypt’s future. Today, Egypt consistently ranks as a top 3 tech startup ecosystem in both the MENA and Africa regions, based on funds raised by local startups. In this special report, we speak to the most active investors in Egypt and cover some of the country’s most successful startups to give you an inside scoop on how they are navigating the current VC winter, inflationary pressures and currency devaluation woes.

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