MENA Startup discovery platform, Magnitt, has released its H1 2019 MENA Venture Investment Report. The positive findings of the report indicate that the MENA region saw
238 investment deals worth a total of $471M in the first half of 2019. This is 66% increase in total funding compared to H1 2018, an all-time record, as the report indicates.
The MENA region also witnessed its first unicorn exit, when Uber acquired the Dubai ride-sharing startup Careem for $3.1B. 14 other MENA startup exited in H1 2019, a 50% increase from H1 2018.
The UAE remains the most active startup ecosystem in MENA with 26% of all deals, followed by Egypt (21%), Lebanon (13%), and Saudi Arabia (11%).
FinTech remains the most attractive industry for investors in the region, retaining its top spot as the most active industry by number of deals, followed by E-Commerce and Delivery & Transport.
A summary of the report is available for download here, and the full report can be purchased at this link.
