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  • 21-02-22

    Egypt’s fintech firms’ investment surge by 300 percent

    (MENAFN) Based on a Central Bank of Egypt report, the size of investments in Egyptian fintech firms surged by 300 percent throughout last year, in comparison to the past year.

    The size of investment hit USD159 million in 32 contracts in last year, demonstrating the development and growth of growing fintech firms functioning in this sector, as stated in a report by the bank’s Fintech Egypt platform.

    Fintech unicorn companies have registered a stable rise, from two startup companies in 2014, to 112 firms by the end of 2021, in over 14 pioneering sub-sectors like payments, remittances, as well as business markets, loaning and alternative funding.

    MENAFN21022022000045013568ID1103734096

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