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fintech boom in mena drives innovation and investment in 2024

Valu, Egypt's leading financial super-app, boasts over 700,000 active users and has launched co-branded credit and prepaid cards, achieving 1.2 million transactions in a year. The fintech ecosystem is expanding with new products like Ulter and Shift, alongside a growing merchant network of 7,000 retailers and 2,000 online stores. In the MENA region, fintech is evolving beyond payments and lending, with a focus on wealth management and AI-driven services, while companies like MyFatoorah and MNT-Halan are making significant strides in payment solutions and lending, respectively.
ArabFounders
United States Dollar Value Line, Inc. TUR OMN ARE SAU PAK PSE KWT JOR EGY Ahmed Mohsen Moayad Alfallaj Jayesh Patel Mounir Ikram Nakhla Abdullah Aldabbous Ahmad Hammouda Seif Amraoui Daniil Barkalov Walid Hassouna Nasser Al-Saleh Ashraf Sabry Hosam Arab Show more
Business & Industry, Market Report
20:23 16.03.2025

fintech growth in mena highlights emerging players and innovative solutions

Valu, Egypt's leading financial super-app, boasts over 700,000 active users and has launched co-branded credit and prepaid cards, achieving 1.2 million transactions in a year. The fintech ecosystem is expanding with new products like Ulter and Shift, alongside a growing merchant network of 7,000 retailers and 2,000 online stores. In the MENA region, fintech is evolving beyond payments and lending, with a focus on wealth management and AI-driven services, while companies like MyFatoorah and MNT-Halan are making significant strides in payment solutions and lending, respectively.
ArabFounders
United States Dollar TUR JOR EGY PAK KWT PSE OMN SAU Mounir Ikram Nakhla Daniil Barkalov Hosam Arab Seif Amraoui Jayesh Patel Ahmed Mohsen Walid Hassouna Abdullah Aldabbous Moayad Alfallaj Ahmad Hammouda Ashraf Sabry Nasser Al-Saleh Show more
Business & Industry, Market Report
20:23 16.03.2025

fintech revolution in mena accelerates with record funding and innovative startups

Binance has secured a historic $2 billion investment from UAE-based MGX, highlighting the fintech boom in the MENA region, where 119 startups raised $700 million in 2024. Key players like Tabby, Fawry, and Rasan are leading the charge, with significant growth in digital payments, BNPL services, and insurtech, setting new benchmarks in the financial technology landscape. The future looks promising, with expectations of more unicorns and cross-border expansions as MENA solidifies its status as a fintech hub.
ArabFounders
United States Dollar Value Line, Inc. TUR ARE OMN SAU PSE KWT JOR EGY Ahmed Mohsen Jayesh Patel Moayad Alfallaj Mounir Ikram Nakhla Abdullah Aldabbous Ahmad Hammouda Seif Amraoui Daniil Barkalov Walid Hassouna Nasser Al-Saleh Ashraf Sabry Hosam Arab Show more
Business & Industry, Market Report
19:42 16.03.2025

fintech growth in mena highlights emerging players and investment opportunities

Binance has secured a historic $2 billion investment from UAE-based MGX, highlighting the fintech boom in the MENA region, where 119 startups raised $700 million in 2024. Key players like Tabby, Fawry, and Rasan are leading the charge, with significant growth in digital payments, BNPL services, and insurtech, setting new benchmarks in the global fintech landscape. The future looks promising, with expectations of more unicorns and international expansions on the horizon.
ArabFounders
United States Dollar TUR JOR EGY PAK KWT ARE PSE OMN SAU Mounir Ikram Nakhla Daniil Barkalov Hosam Arab Seif Amraoui Jayesh Patel Ahmed Mohsen Walid Hassouna Abdullah Aldabbous Moayad Alfallaj Ahmad Hammouda Ashraf Sabry Nasser Al-Saleh Show more
Business & Industry, Market Report
19:42 16.03.2025

fintech revolution in mena drives growth and innovation in 2024

Valu has emerged as Egypt's leading financial super-app, boasting over 700,000 active users and launching co-branded credit and prepaid cards that achieved 1.2 million transactions in a year. The fintech ecosystem is expanding with new products like Ulter and Shift, alongside a growing merchant network of 7,000 retailers and 2,000 online stores.In the MENA region, fintech is evolving beyond payments and lending, with a focus on wealth management and AI-driven services. Companies like MyFatoorah and MNT-Halan are making significant strides, while cross-border expansion is anticipated, positioning the region for a robust financial future.
ArabFounders
United States Dollar TUR JOR EGY PAK KWT ARE PSE OMN SAU Mounir Ikram Nakhla Daniil Barkalov Hosam Arab Seif Amraoui Jayesh Patel Ahmed Mohsen Walid Hassouna Abdullah Aldabbous Moayad Alfallaj Ahmad Hammouda Ashraf Sabry Nasser Al-Saleh Show more
Business & Industry, Market Report
00:50 15.03.2025

fintech revolution in mena drives growth and innovation in 2024

Valu has emerged as Egypt's leading financial super-app, boasting over 700,000 active users and launching co-branded credit and prepaid cards that achieved 1.2 million transactions in a year. The fintech ecosystem is expanding with new products like Ulter and Shift, alongside a growing merchant network of 7,000 retailers and 2,000 online stores.In the MENA region, fintech is evolving beyond payments and lending, with a focus on wealth management and AI-driven services. Companies like MyFatoorah and MNT-Halan are making significant strides, while cross-border expansion is anticipated, positioning the region for a robust future in the global fintech landscape.
ArabFounders
United States Dollar Value Line, Inc. TUR ARE OMN SAU PAK PSE KWT JOR EGY Ahmed Mohsen Moayad Alfallaj Jayesh Patel Mounir Ikram Nakhla Abdullah Aldabbous Ahmad Hammouda Seif Amraoui Daniil Barkalov Walid Hassouna Nasser Al-Saleh Ashraf Sabry Hosam Arab Show more
Business & Industry, Market Report
00:50 15.03.2025

Fawry invests in three Egyptian startups to enhance digital business solutions

Fawry, Egypt's leading fintech company, has invested EGP80 million (US$1.6 million) in three local startups—Dirac Systems, Virtual CFO, and Code Zone—to enhance its "Fawry Business" ecosystem. This strategic move aims to expand digital solutions in ERP, financial management, and payment integrations, supporting Egypt's digital transformation and cashless economy initiatives. CEOs from the invested companies expressed enthusiasm about the partnership, highlighting the potential for improved operational efficiency and growth in the digital economy.
Disrupt Africa
Egyptian Pound EGY Ashraf Sabry Mohamed Salah
Business & Industry, Press Release
07:00 05.03.2025

Fawry reports record revenue and profit growth in 2024 financial results

Fawry reported a remarkable 68% revenue increase to EGP 5.51 billion ($121.6 million) for 2024, with net profit soaring 125% to EGP 1.61 billion ($35.5 million), achieving a net profit margin of 29.2%. The growth was primarily driven by Banking Services, which contributed 46.9% to revenue, and a significant expansion in its Financial Services segment, which saw a 137.7% revenue increase. The company plans to launch "Fawry Business" to offer integrated digital solutions for various business sizes.
MENAbytes
Egyptian Pound EGY Ashraf Sabry
Business & Industry, Market Report
04:25 04.03.2025

Fawry invests 1.6 million in Egyptian fintech startups to enhance digital solutions

Fawry has invested $1.6 million in three Egyptian fintech startups—Dirac Systems, Virtual CFO, and Code Zone—to enhance its digital solutions ecosystem. This strategic move, acquiring significant equity stakes, aims to strengthen Fawry's offerings in ERP, financial management, and business automation, fostering growth in Egypt's fintech sector.
Rasmal
United States Dollar EGY Mohamed Salah Ahmed Farouk Bassem Youssef Ashraf Sabry Show more
Business & Industry, Press Release
10:22 27.02.2025

Fawry invests 1.5 million dollars to enhance business solutions in Egypt

Fawry has invested $1.5 million in three Egyptian tech firms—Dirac Systems, Virtual CFO, and Code Zone—acquiring majority stakes to enhance its “Fawry Business” suite. This strategic move aims to strengthen its offerings in enterprise resource planning, financial management, and business automation, supporting the digital transformation and cashless economy in Egypt. The CEOs of the acquired companies view this partnership as a significant opportunity to scale their services and improve efficiency.
WAYA
United States Dollar Egyptian Pound EGY Ashraf Sabry
Business & Industry, Press Release
10:12 26.02.2025
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