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Top 10 Most Funded Companies in Egypt
Eight Egyptian fintech startups have made Forbes Middle East’s “Top 30 Fintech Companies” for 2023, overshadowing regional heavyweights like Saudi Arabia, which had six entries, as well as the UAE and Kuwait, both of which came in with five.
Among these are Egyptian unicorns, Fawry, who ranked first, and MNT-Halan, fourth, as well as several of the country’s most promising “soonicorns”.
FinTech also dominates the overall Egyptian tech landscape as Fintech companies comprise half of the top ten most funded companies from Egypt.
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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.
