Page 72 - HYPERPAY PR REPORT - SEPTEMBER 2025

Fintech 50

Fintech companies in MENA have continued their growth trajectory over the last year, with 119
fintech startups raising $700 million in 2024, according to Wamda. This significant investment
accounted for 30% of the total funding for MENA startups during the year, underscoring strong
investor interest in the thriving sector.

Payment solutions and buy-now, pay-later services remained the hottest space, with Saudi-based
shopping and financial services app, Tabby, snatching $160 million in a Series E funding round in
February 2025. This boosted its valuation to $3.3 billion, making it the region’s most valuable
fintech startup, and bagging it the top spot in our Fintech 50 list 2025.

Egyptian e-payment company Fawry comes in second, boosted by its 53.1 million customers,
followed by Saudi fintech and Insurtech company Rasan, which went public on the Saudi Exchange
(Tadawul) in 2024, with its market cap hitting nearly $1.9 billion on February 20, 2025.

Our 2025 list features companies from 11 countries and 12 newcomers, including the digital assets
platform CoinMENA, the U.A.E.’s Ziina, and Egypt’s Sahl. The U.A.E. is the most represented country
on the list with 13 companies, followed by Egypt and Saudi Arabia with 12 and 10 companies,
respectively. The 50 companies on this year’s list have processed a total of over $240 billion in
transactions, having secured more than $3.8 billion in total funding.

https://www.forbesmiddleeast.com/lists/the-middle-easts-fintech-50-2025/