MENAT Startups Which Have Raised More Than US $100 Mil
05 February 2025•
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The MENAT region is home to 26 fintech soonicorns—startups that have raised over US $100 million each, signaling their potential to become unicorns. Collectively, these companies have secured US $9.3 billion in funding, with the largest share going to paytech, money transfers, and remittances (41%). Other well-funded fintech sub-sectors include superapps (15%), wealth and investment startups (13%), and lending (11%), showcasing the region’s appetite for financial innovation.
Israel leads the pack with 14 fintech soonicorns, representing 34% and raising a combined US $3.18 billion. However, Saudi Arabian fintech startups have almost matched the total funding with only four firms securing US $3 billion, reflecting the scale of opportunity in the Kingdom’s market.
The UAE follows closely behind, with four fintech firms raising US $1.67 billion, while Egypt, Bahrain, and Algeria also have high-growth startups in the sector. With a growing focus on digital finance, these soonicorns are well-positioned to drive the next wave of fintech innovation across MENAT.
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We are a team of passionate Researchers, Data Junkies, and Story-Tellers that believe there is not enough quality business insights and compelling data analysis available in the marketplace, told in the formats users want. We want to give an insider's look into the industries, businesses and economies that are changing the world today, so our users can become inspired, empowered and equipped to run their businesses as best they can.
Lucy is a young unicorn passionate about responsible business practices, from Sustainability and ESG performance management to deep-dive investigations of the broad socio-political and macro-economic implications of various government and business strategies. Lucy has a knack for research, data analytics, and understanding the implications of new and disruptive technologies. Prior to becoming a tech news reporter, Lucy spent a few years working for the United Nations, researching and evaluating the socio-economic impact of various programs and the adoption of technological innovations. Lucy studied integrated engineering, and worked on converting her fuel-powered car into an electric vehicle as her final project for graduation. Lucy can still be seen driving her zero-emissions vehicle in and around Dubai, where she grew up. Lucy speaks English and Arabic, and completed her studies in Canada, where she also minored in magic powered technological solutions. Lucy specializes in sustainable development, climate tech, ESG, social impact startups, venture capital, macroeconomics and geopolitics.
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