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MENA Fintech Sector Set To Reach $2.4B By 2029

by THEFUTURE.TEAM

March 25, 2025

The fintech sector in the MENA region remained a dominant force in 2024, accounting for 30% of total investments. Despite an overall 42% drop in startup funding, MENA’s fintech ecosystem proved resilient, securing $2.3 billion in investments, according to Wamda. The UAE led the region with $1.1 billion across 207 startups, followed by Saudi Arabia ($700 million), Egypt ($334 million), and Oman ($41.5 million).

Key Investment Trends And Funding Breakdown

Fintech not only led in funding but also in deal count, raising $700 million across 119 startups. In Egypt and the UAE, fintech topped the funding charts, while in Saudi Arabia, software-as-a-service (SaaS) secured the largest share. Investor interest varied by country, with fintech leading in the UAE ($265 million for 47 deals), Web 3.0 second ($255 million), and proptech third ($197 million). In Saudi Arabia, SaaS attracted $177 million, followed by fintech at $171 million. Egypt’s fintech sector secured $237 million, fueled by the country’s large, underserved population of 112 million people. The late 2024 launch of Apple Pay and Google Pay further accelerated digital payment adoption in Egypt.

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Government Support And Regulatory Growth

Regulatory support has been crucial in fostering fintech growth across the region. A Visa report noted that 71% of fintech firms in the GCC and Levant credit government initiatives, including regulatory sandboxes, financial inclusion programs, and investments in digital infrastructure.

AI And Future Growth Areas

AI is becoming an increasingly critical component, with 73% of fintech companies considering it essential for future development. Payments remain the most promising segment, followed by Buy Now, Pay Later (BNPL), AI, Web3, stablecoins, CBDCs, crypto, and open banking.

Funding Highlights And Projections

Notable funding rounds in 2024 include Egypt’s MNT-Halan securing $157.5 million, Saudi Arabia’s Lean Technologies raising $67.5 million, and the UAE’s CredibleX securing $55 million in seed funding. Additionally, Tabby raised $160 million in February 2025, bringing its valuation to $3.3 billion.

Looking ahead, MENA’s fintech funding is projected to reach $2.4 billion by 2029, with the UAE, Saudi Arabia, Bahrain, and Egypt leading the charge. Regional growth is a top priority, with 90% of fintech firms targeting the UAE and Saudi Arabia due to their large market sizes, favorable regulations, and funding support.

With continued regulatory reforms, investment, and cross-border expansion, MENA’s fintech sector is poised to redefine the global financial landscape, becoming a leader in innovation and digital finance.

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Robinhood Cuts Workforce Without Blaming AI

As the tech sector recalibrates its workforce strategies, the narrative that artificial intelligence justifies sweeping job cuts is rapidly losing credibility. Notably, Robinhood’s CEO, Vlad Tenev, made a deliberate choice to sidestep AI as a scapegoat in his recent announcement to reduce the company’s full-time headcount by 10%, or roughly 290 employees.

Lean Structures For Maximum Impact

Instead, Tenev described the move as part of a broader effort to simplify the company’s organizational structure and reduce layers of management. He said Robinhood is focused on building a smaller and more focused team, with employees expected to have greater responsibility and influence over the company’s direction.

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The approach reflects a broader trend among technology firms seeking to streamline operations and improve execution through flatter organizational structures.

Evolving Industry Narratives And Workforce Strategies

Several technology companies have pointed to artificial intelligence when explaining workforce reductions, often citing the need to offset rising investments in data centers and improve productivity. Against that backdrop, Robinhood’s decision not to explicitly attribute the layoffs to AI represents a different approach. At the same time, public sentiment toward artificial intelligence has become more cautious, even as companies continue to invest heavily in the technology.

Strong Financial Performance Amid Strategic Adjustments

Robinhood’s recalibration comes on the heels of impressive financial signals and robust market performance. While companies such as Amazon, Block, Coinbase, GitLab, and Intuit have communicated similar messages of tightening organizational structures, the industry at large is channeling record revenues, improved profit margins, and surging demand for cloud services into a future defined by strategic agility.

Setting A New Course For The Tech Industry

By deliberately avoiding the conventional AI cover story, Robinhood is not only redefining its own strategic direction but is also signaling a shift in the tech industry toward operational excellence and fiscal efficiency. As companies continue to navigate the intersection of cutting-edge technology and traditional business imperatives, the emphasis on lean, empowered teams may well become the blueprint for achieving long-term growth and innovation.