The Middle East-Africa (MEA) region is ripe for a new breed of complex fintech startups, in our view, as the industry becomes more prominent — including Islamic Fintech, InsurTech, RegTech and blockchain-based solutions. Moreover, changes in technological advances, regulation and customer preferences are forcing the region’s large banks to take a lead in digital transformation.
MEA fintech startups are expected to more than double between 2020-22, albeit from a low base, given limited funding, talent and tailored regulation. Foundations for a stronger growth outlook were nevertheless made in 2018, given new regulatory frameworks, government support, more venture-capital investment and banking partnerships.
Investment into Middle East