Top Countries by Total Funding in MENA (ex. Israel) 2021 to 2023
The UAE has consistently witnessed funding over US$ 1 billion for the past three years and has maintained a top 2 position, along with Saudi Arabia.
Saudi Arabia startups received the most funding in 2023 on the back of Tabby, a fintech solution offering customers to make purchases and pay for those in instalments.
Egypt has been consistently ranking 3rd in terms of funding value, with 2023 seeing the lowest in the past three years.
Related Report
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.
