Fintech investment in the Europe, Middle East and Africa (EMEA) region reached $39 billion during the first half of 2021, according to KPMG’s Pulse of Fintech report for H1 2021.
As per the report, the fintech sector in the Middle East, especially in the UAE has been growing exponentially. The UAE reached the EMEA top ten fintech deals during the period.
Safwan Khalil, Chief Operating Officer and Co-founder of GoFinance told the media, “The numbers speak for themselves – Fintech is growing exponentially in the UAE and across the region. This has been possible given the UAE government’s constant efforts to foster smart and digital transformation in the country. The launch of Dubai Digital Authority (DDA), launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai is a testament of the same.
“At GoFinance, we understand the importance of this cooperation and truly appreciate the innovative solutions and initiatives launched by the government. Fintech platforms not only help automate and streamline processes, but also help structure data and provide businesses with a roadmap to optimise new and efficient ways of doing business.”
Recently, UAE-based fintech LNDDO raised around $3 million in seed funding to expand in the Kingdom of Saudi Arabia and Egypt. The startup is backed by a network of investors led by H.H Sheikh Tahnoon Bin Shakhboot Al Nahayan.