The UAE led the MENA region in investment growth in the number of deals and funding for start-ups in H1 2021, according to Magnitt’s H1 2021 MENA Venture Report.

Fintech start-ups claimed the largest amount of deals closed in H1 2021.

“Fintech investments have already been growing steadily, but we’re about to see a gold rush with VCs focusing almost exclusively on fintech,” said Marwan Saab, CEO of Opaala, a cloud-based platform.

The second half of 2021 will likely see an acceleration of venture capital deployed in the region, said Walid Mansour of venture capital firm Middle East Venture Partners (MEVP).

Saab said that the post-pandemic economic boom combined with the tech talent entering the UAE through the National Programme for Coders will likely lead to dramatic growth in the start-up ecosystem.

Saab said he was excited about the rise of crowdfunding in the region, as he described it as a lifesaver for start-ups.


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