VC Investments & Number of Startups per Sector in MENA (2023)

In the data reported by Wamda Capital for 2023, the Fintech sector emerged as the leading force in fundraising activities throughout the Middle East and North Africa, amassing the greatest cumulative deal value at approximately US $2.3 billion and boasting the highest startup count with 112.

Despite Fintech's dominance in total sector funding, the average capital raised per startup was just over US $20 million. In stark contrast, super apps, characterized by exceptionally mature startups, secured an average of US $108 million per startup.