11 Egyptian startups secure $508.5M financing in 2022
Forbes MENA's Top 50 Most Funded-Startups 2022 list included 11 Egyptian startups that secured $508.5 million in 2022, the Middle East News Agency reported on December 27th, citing an infographic by the Information and Decision Support Center (IDSC).
Forbes list included 50 startups in MENA that collected $3.2 billion in finance during 2022, up from $3 billion in 2022.
Egypt ranked third on the list after the UAE and Saudi Arabia in terms of the number of startups and the value of funding.
The fintech and e-commerce sectors topped the list on the basis of both the number of companies and the value of finance in 2022.