‘State of FinTech’ Report Reveals Trends in MENA, 250 Startups to Launch Soon

[kreslik.news]

PayFort, an online payment service provider, and Wamda, an entrepreneurship platform in the Middle East and North Africa (MENA), have just released the “State of FinTech” report, which offers fresh data and insights on the region’s home-grown fintech industry.

According to the report, fintech start-ups in MENA now employ between 1,000-2,000 professionals, which is impressive for an industry that almost did not exist half a decade ago. In addition, the sector is set to quadruple in the next 5 years after the region has already seen a 43% rise in fintech investments from 2015 to 2016.

Specifically, the number of start-ups offering ... (read more)