The year began with a rather respectable amount raised in funding at $43 million, across 37 deals. This is $11.5 million more compared to January 2020 when just 21 startups raised investment. After a year of a hard-hitting pandemic, this is a good start indeed.
Fintech is beginning to dominate investments in the region, with 10 deals amounting to $30.9 million. This was led primarily by Abu Dhabi’s Nymcard, which raised $7.6 million in its Series A round, Bahrain’s cryptocurrency exchange Rain, which raised $6 million in its Series A round too and Tamara, the Saudi Arabia-based buy now pay later startup which raised $6 million in its seed round. Read from source….