2023年埃及金融科技格局 Egypt FinTech LANDSCAPE REPORT

LANDSCAPEREPORT

2023

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CENTRALBANKOFEGYPT

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EgyptFinTech

LANDSCAPEREPORT

2023

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CENTRALBANKOFEGYPT

ABBREVIATIONS&ACRONYMS

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THEJOURNEYTOWARDSDIGITALTRANSFORMATION

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FORWARD

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SCOPE&METHODOLOGY

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EGYPTATAGLANCE

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FINTECHEGYPTMAP2022

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STARTUPS&PSPsDEEP-DIVE

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FINTECHINVESTORSDEEP-DIVE

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BANKS,NATIONALFINANCIALINFRASTRUCTUREPROVIDERS&PSOsDEEP-DIVE

57

REGULATORS&GOVERNMENTDEEP-DIVE

75

CLOSINGREMARKS

100

KEYHIGHLIGHTS

102

TERMSOFUSEANDDISCLAIMER

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EgyptFinTechLandscapeReport2023

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ABBREVIATIONS&ACRONYMS

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AI

•ArtificialIntelligence

B2B2C

•BusinesstoBusinesstoConsumer

B2C

•BusinesstoConsumer

CBE

•CentralBankofEgypt

E-KYC

•ElectronicKnowYourCustomer

eIDV

•ElectronicIdentityVerification

FinTech

•FinancialTechnology

FRA

•FinancialRegulatoryAuthority

GPoS

•GovernmentElectronicPointofSales

IPN

•InstantPaymentNetwork

MCIT

•MinistryofCommunicationsandInformationTechnology

MENA

•MiddleEastandNorthAfrica

MLCU

•MoneyLaunderingCombatingUnit

MNO

•MobileNetworkOperators

MSMEs

•Micro,Small,andMediumEnterprises

NBFS

•Non-bankingfinancialservices

NTRA

•NationalTelecomRegulatoryAuthority

PFM

•PersonalFinanceManagement

PSOs

•PaymentSystemOperators

PSPs

•PaymentServiceProviders

SDS

•SustainableDevelopmentStrategy

SLA

•ServiceLevelAgreement

SMEs

•SmallandMediumEnterprises

RegTech

•RegulatoryTechnology

ROSCA

•RotatingSavingsandCreditAssociation

VC

•VentureCapital

VSLA

•VillageSavingsandLoansAssociation

YoY

•YearoverYear

EgyptFinTechLandscapeReport2023

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THEJOURNEY

TOWARDSDIGITALTRANSFORMATION

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FinancialTechnologyisfundamentalforthemodernizationandadvancementofEgypt’sbankingandfinancialsectors.WithnewinnovativeFinTechandFinTech-enabledstartupsemerginginthemarketeveryyear,EgypthasimmensepotentialfortheadvancementoftheFinTech&FinTechenabledindustryaswellasacatalystforcurrentandfutureinnovation,potentialcollaborationandpolicydevelopment.

Aspartofthecountry’sendeavorstowardsachievingEgypt’sless-cashframeworkandmorebroadlyEgypt’sNationalVision2030,undertheleadershipofHisExcellency,Mr.PresidentAbdElFattahElSisi,Egyptisstrivingtoencourageinnovationanddigitizationofthebankingandfinancialsectors.

OwingtotheregulatorsandgovernmentwhosignificantlyhelpedinpolicydevelopmentandcreatingaFinTechenabledenvironmentaswellasalltheothervitalrolesplayedintheprogressionoftheFinTechecosystembyotherkeystakeholdersasFinTech&FinTechenabledstartups,paymentserviceproviders(PSPs),venturecapitalfirms,angelinvestors,accelerators,incubators,commercialbanksinEgypt,andfinancialinfrastructureproviderswhoareresponsibleforenablingtheFinTech&FinTechenabledstartups’coreofferingstofunction.

ByexpandingtheFinTechecosystemandtheinvolvementofmorekeystakeholders,theEgyptianFinTechindustryhasseenvastadvancementsthroughoutthisyear,keepingthecountryinlinewithitsdeliberateSustainableDevelopmentStrategy(SDS)toachieveacompetitivediversifiedeconomy,andattainoptimumfinancialinclusion.Assuch,thisreportaimstoprovideinsightsontheprogressionoftheFinTechindustryinEgyptinthelastfewyears,inadditiontotheenablingactivitiesandinitiativesdonebytheaforementionedstakeholderstohelpachievethecountry’sstrategicgoals.

EgyptFinTechLandscapeReport2023

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FORWARD

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FollowingonthesuccessofthepreviouseditionsoftheFinTechLandscapeReport,the3rdeditionoftheFinTechLandscapeReportmainlyfocusesonincludingmoreFinTechecosystemplayers,thushighlightingalltheirvitalrolesinhelpingtheFinTechsceneinEgyptgrowatafastpace,astheCentralBankofEgyptrealizesthatnowadaysitisallaboutcollaborationratherthanbeingheadtohead,enablingotherstoenableyourself,therefore

theCentralBankofEgyptbroughttogetherthekeystakeholdersoftheFinTech&FinTechenabledindustrytoestablishacomprehensiveall-inclusivereport.

TheFinTechindustryinEgyptcontinuestorapidlyopenupaworldofpossibilitiesacrosseveryindustrysectorandmultipleaspectsofdailylife,fromcontactlesspaymentstoautomatingthedeliveryanduseoffinancialservicesandstreamliningfinancialoperationsandprocesses.Asperthedeeptechnologicalchangeswitnessed,2022hasshownsignificantprogressintheFinTechindustry,bydintofalltheFinTechecosystemmainplayers’collaborativeeffortsthatsignificantlyhelpedinthemakingofthereport.

Thisreportgivesanoverviewonafive-pillarframeworkwhichmainlyincludestheneedsanddemandsofconsumers,MSMEs,corporationsandfinancialinstitutions,theavailabilityoffundingandaccesstocapitalacrossallFinTechlifecyclestages,availabilityanddevelopmentoftalentpipeline,governanceandeffectivecollaborationsamongecosystemstakeholders,andtheoverallregulatoryenvironment.Moreover,thereportmeasurestheinfluenceofeachofthefivepillarsthroughthelensofeachandeverykeystakeholder,whileprovidingafull-fledgedunderstandingoftheFinTechdevelopmentswitnessedoverthelastyear(s).

InalignmentwiththedirectionsandsupportoftheGovernorofCentralBankofEgypt,Mr.HassanAbdalla,theCentralBankofEgyptwillcontinueindrivinginnovationandcreatinggrowthopportunitiestoreshapeitseconomyintoamorefinanciallyinclusivedigitaleconomy,ensuringpricestability,liftingconstraints,encouraginginnovativeentrepreneursandstartups,buildingcustomertrust,creatingopportunitiesbeyondfinancialservices,andenablingtheecosystemtoachievesustainablegrowthasthejourneycontinues.

EgyptFinTechLandscapeReport2023

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SCOPE

&METHODOLOGY

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ThethirdeditionoftheFinTechLandscapereportisinstrumentedthoroughlybyacombinationofsuitablydesignedonlinesurveys,coveringyear2022anddirectedtoeachkeystakeholderintheFinTechecosystemtobetterunderstandandidentifymarketprogress,needs,areasofimprovementsandpossiblecollaborations,bygoingthrougheachandeverystakeholders’uniqueperspectiveofthe5pillars(Demand,Funding,Talent,Governance,andRegulations).

EachstakeholderintheFinTechecosystemhashisdistinctiveviewpointtowardstheaforementionedpillars,whichwereempiricallyprocuredthroughthewell-tailoredsurveysthatweredirectedandfilledoutbyeachkeystakeholdertomaketheFinTechLandscapeReportmorecomprehensive.

Theanalyticsinthereportarebasedoninformationextractedfrommorethan250organizationsfromtheFinTechecosystem,including177FinTech&FinTechenabledstartupsfrom14differentFinTech&FinTechenabledsub-sectors&paymentserviceproviders(PSPs),36investors,acceleratorsandincubators,36banksand4nationalfinancialinfrastructureprovidersandpaymentsystemoperators(PSOs),andmanyotherkeystakeholderswhoalltookpartinforgingthenewestall-inclusiveFinTechLandscapeReport.GivenEgypt’sleadingpositionintheFinTechindustryintheMENAregionaswellasAfricaregion,thisrapidgrowthisnosurprise,withEgyptianstartupsrisingandexportingtheirproductsandservicesaroundtheworld,drawingtheattentionoflocal,regionalandinternationalinvestors,wecansafelyproclaimthatthisisonlythebeginningofanewera!

Startups&PaymentServiceProviders(PSPs)

VentureCapitals,AngelInvestmentNetwork&Accelerators/Incubators

Banks,NationalFinancial

InfrastructureProviders&PaymentSystemOperators(PSOs)

Regulators&Government

FINTECH

ECOSYSTEM

STAKEHOLDERS

EgyptFinTechLandscapeReport2023

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EGYPTATAGLANCE

EGYPTINNUMBERS

1

.eg/Story/174798/Egypt

’s-population-hit-104.395-million-CAPMAS?lang=en-us2

/country-rankings/mena-countries

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/population/countries-in-africa-by-population/

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.eg/Upcont/Documents/Publications_832023000_ICT_Indicators_Quarterly_Bulletin_Q4_2023.pdf

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/reports/digital-2023-egypt

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/en/Egypt#population

_2023

7CentralBankofEgypt,Dec.2022

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/research/2022-egypt-venture-investment-report-50861

9CentralBankofEgypt,December2022.

10ResearchdonebyTheHarrisPollandMastercardGlobalForesights,InsightsandAnalyticson767consumersinEgypt,June2022

/news/

eemea/en/newsroom/press-releases/press-releases/en/2022/august/mastercard-new-payment-index-2022-consumers-in-egypt-embrace-digital-payments/

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EGYPT’SPOSITIONGLOBALLY

EGYPT’SPOSITIONREGIONALLY

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/edocs/pubdocs/en/wipo_pub_2000_2022/eg.pdf

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/report/gser-fintechedition

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/

~/media/mckinsey/industries/financial%20services/our%20insights/fintech%20in%20africa%20the%20end%20of%20the%20beginning/fintech-in-africa-the-end-of-the-beginning.pdf

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/2022-africa-tech-venture-capital-report/

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/research/2022-mena-fintech-venture-investment-report-50856

EgyptFinTechLandscapeReport202313

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Thismapisbasedonsurveysdonewithmorethan250organizations,including177startups&paymentsservicesprovidersaccordingtotheirprimarysub-sectors,36investors,4NationalFinancialInfrastructureProvidersand

PaymentSystemOperators,andvariousregulatoryandgovernmentalentities.ThismapexcludestheoperatingcommercialbanksinEgypt.Thus;non-exhaustiveofthetotalEgyptianFinTechEcosystemStakeholders.

EgyptFinTechLandscapeReport2023

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STARTUPS&PSPs

EgyptFinTechLandscapeReport2023

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ACLOSERLOOKINTOFINTECH&FINTECH-ENABLEDSTARTUPS&PSPs

ThefirstsectionmainlyrevolvesaroundFinTech&FinTechenabledstartupsandPaymentServiceProviders(PSPs)*,bydeepdivingintoeachofthemainpillarsthroughtheirowndistinctiveperspective,tacklingtheirprimarydemandsandinterestsaswellastheirforemostimportantchallenges.ItalsoprovidesinsightsonthegrowthofFinTech&FinTechenabledstartupsandPSPsinEgyptovertheyearsandtheexpansionoftheFinTechsub-sectors,aswellasthedegreeofdiversitywithinstartupbusinesses,hiringplansalongwiththechallengesfacedinrecruitment,andchallengesthathinderstartups’growthandpotentialcollaborations.

*“Startups&PSPs”mentionedacrossallsectionsofthereportreferstothe177surveyedFinTech&FinTechenabledstartupsandpaymentserviceproviders(PSPs).

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DEMAND

Evolutionofstartupandstartupsubsectorsoveryears,challengesthathinderstartups’growth.

TALENT

EmployeesofFinTechsector,

gender-diversitylens,challengesinrecruitments.

FUNDING

GrowthofFinTechinvestmentscomingfromthestartupscene,revenuemodels&challengesoffunding.

GOVERNANCE&

COLLABORATION

Partnershipsbetweenstartups&FinTechecosystem.

FINTECH&FINTECH-ENABLEDSTARTUPS/PSPs

EgyptFinTechLandscapeReport2023

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STARTUPS&PAYMENTSERVICEPROVIDERS(PSPs)MAP

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EgyptFinTechLandscapeReport2023

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DEMAND

EvolutionofstartupsandPSPsoveryears,theirprimaryFinTechsubsectors,localandinternationaloffices,andchallengesthathinderstartupsandPSPsgrowth.

EgyptIsHometoOver177Startups&PSPs

Currently,thereare177FinTech&FinTech-enabledstartupsandPaymentServiceProviders(PSPs)offeringinnovativesolutionsintheEgyptianmarket.Outofwhich,139startupsprovidepureFinTechsolutions,while38providetechnologicalsolutions,alongwithembeddedfinance.

GrowthofStartups&PSPsintheLast5Years

Withinthelast5years,innovativestartups&PSPshaveincreasedby5.5times,duetotherisingdemandforFinTech&FinTech-enabledsolutionsintheEgyptianmarket.

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Startups&PSPsGeographicalRepresentation

•Startups&PSPsHeadquarters

•Startups&PSPsLocalGeographicalRepresentation

Around67%(113)of168headquarteredinEgyptarebasedinCairo,while30%(50)inGiza,andtherestofthe3%(5)aredistributedacrossothergovernorates.

Additionally,outof113startups&PSPswhoarebasedinCairo,17haveadditionalofficesinothergovernorates.

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EgyptFinTechLandscapeReport2023

•Startups&PSPsGlobalGeographicalRepresentation

46Startups&PSPshaveadditionalofficesoverseas

MorethanhalfofthemarelocatedinUnitedArabEmirates(58%),followedbySaudiArabia(36%).

Additionally,18%haveofficesbeyondtheMENAregion;mainlyintheUnitedStates.

52startups&PSPshavecutomersoverseas

Toptwocountries,wherethese52startups&PSPsareservingtheircustomers,are:UnitedArabofEmirates(57%),followedbySaudiArabia(47%).

102startups&PSPsareplanningtoexpandgloballyinthenext12months

Mostpotentialmarketsthesestartupsareplanningtoexpandatare;MENAregion,Turkey,Pakistan,andAfricanregions.

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PrimarySub-SectorsofStartups&PSPs

Todate,3sub-sectorsaredominatingtheFinTechindustryinEgyptbynearly60%ofthe177startups&PSPs.

Toelaborate,Payments&Remittancearerepresenting36%oftheFinTechscene,followedbyLending&AlternativeFinanceandB2BMarketplacesolutions,with11%and10%consecutively.

Startups&PSPsBusinessModels

EgyptFinTechLandscapeReport2023

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ServedCustomers

•TotalCustomers

Assharedby143startups&PSPs

no

Giventhat25startups&PSPshavecustomersyet.

•FemaleCustomersParticipation

Giventhatonly72startups&PSPshavegender-disaggregateddata,femaleregisteredcustomersrepresentalmostonethird(4.4M)oftheirregisteredcustomers(15.6M).

ActivityLevel

Thereisatotalof1.2Mactivefemalecustomers(27%),assharedbythe72startups&PSPs.

However,whendeep-divingintothecustomers’diversificationforeverystartup,theaverageactivityleveloffemalecustomerstendstobehigherthanactivitylevelofmales.Assuch,foreverystartup,itsactivefemalesrepresentanaverageof55%outofitsfemalecustomers,comparedtoonly47%ofaverageactivemales’customersoutofitsmalecustomers.

CustomersAgeBrackets

Over60%ofcustomersservedarebetween20and40yearsold,giventhatagebracketsbetween31and40yearsoldarethemostdominantby36%.

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FactorsThatCanHelpStartupsandPSPstheMostinCustomerAdoptioninEgypt

Top5ChallengesFacedbyStartups&PSPsThatHinderTheirGrowth

TopFocusAreasforStartupstoGrowintheNearFuture

EgyptFinTechLandscapeReport2023

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TALENT

Talentopportunitiesandchallengesforstartups&PSPswithintheFinTechsector,adeep-diveintofounders’educationalbackgroundsandgender-diversitylens.

Founders’Talents

•Founders’EducationalDegree

Majorityoffounders(69%)completedtheirbachelor’sdegreethenstartedtheirownbusiness.

•Founders’EducationalBackground

Halfofthefoundershavetechnicaleducationalbackground(i.e.graduatedfromComputerScience,Engineering….etc.).

Andtheotherhalfhaveacquirednon-technicaleducation(i.e.graduatedfromBusiness,Entrepreneurship….etc.).

•Founders’Age

Almost50%offoundersarebetweenage31and40yearsold,indicatingthefoundersacquiresomeexperienceinthecorporatelifethenmovetostarttheirownbusiness.

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•FemalesFounders&Co-Founders

Only29%(52)ofstartups&PSPshavefemaleco-founders,whileonly2%(3)startups&PSPshavealltheirfoundersasfemales.

TeamSize

Startups&PSPswithteamrangesof(11-50)employeesarethemostdominant(42%).

EmployeesofStartups&PSPs

Femalesworkinginstartups&PSPsstillrepresentaverysmallportioncomparedtomales(only15%).

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EgyptFinTechLandscapeReport2023

•Employees’Commitment

•Employees’AgeBrackets

Morethanhalfofemployeesworkinginstartups&PSPsarefreshgraduatestoentrylevelwithagebrackets(20-30)yearsold.

Onthecontrary,employeeswithaverageexperience15+yearsarelesslikelytoworkinstartups&PSPs,representingonly10%.

•149startups&PSPsareplanningtorecruitnewteammembers.

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FactorsThatWouldImproveEgypt’sStandingasaTalentHub

AvailabilityofAcceleration&IncubationPrograms

GapsAreasNotFulfilledbyAccelerators&Incubators

*Assharedby90startups

Receivingfunding(56%)&havingdirectaccesstoinvestors(48%)areseenastopneededareastobefulfilledbyaccelerators&incubators.

EgyptFinTechLandscapeReport2023

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FUNDING

GrowthofFinTechinvestmentsclusteredbyFinTechvs.FinTech-enabledsolutions,fundingstages,andprimarysub-sectors,revenuemodels&challengesofraisingfunds.

Egypt’sFinTechInvestmentsGrowth

•VentureCapitalvs.PrivateEquityFintechInvestments

VentureCapital&AngelInvestmentsrepresentagreatshareofoverallFinTechinvestmentsinEgypt,withaverageof65%acrossthelast3years.Yet,PrivateEquitytookaleapin2022–representing55%ofoverallEgypt’sFinTechInvestments.

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•VentureCapital(VC)OvrerallFintech&Fintech-EnabledInvestments

OverallFinTech&FinTech-enabledVCInvestmentshasskyrocketedoverthelast

3years,reachinganewhighof$358.8Min2022,whichis28.7timescomparedto

2019.

•VentureCapital(VC)Investments

ClusteredByFintechvs.Fintech-EnabledInvestments

InvestmentamountsinFinTech-nativesub-sectors’representsanaverageof70%

oftotalinvestmentsacrossthelast3years.

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EgyptFinTechLandscapeReport2023

ClusteredByFundingRoundsTypes

Later-stageinvestmentsstartedtoappearintheEgyptianFinTech&FinTech-enabledindustrystartingin2020.

Eventhough,numberofearly-stagedeals(Pre-seed&Seed)accountsfor72%oftotaldeals,aleaphasbeenseeninlater-stageinvestments’amounts(SeriesA+)accountingfor80%oftotalinvestmentsdonein2022.Year2022witnessedatotalof8MegaDealswithamounts($20M+),whichis60%increasecomparedtonumberofMegadealsin2021.

ClusteredByPrimarySub-Sectors

3sub-sectorsaredominatingFinTechinvestmentsinEgyptacrossthelast3years;Payments&Remittance,B2BMarketplaceandLending&AlternativeFinanceconsecutively.In2022,thelatterrepresent79%ofoverallinvestments.While,therestofthesub-sectorshavereceivedonly21%of2022investments.

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AverageTicketSizesofFinTechinEgyptClusteredbyFundingStages

MostChallengingFundingRound

Early-stageinvestments(Pre-seed&Seed)wereconsideredasthehardestfor55%ofstartups,whichgivesanindicationthereisagapofavailabilityofinvestorswhoarefocusedonearly-stagestartups.

StartupsLookingForwardToRaiseFunds

EgyptFinTechLandscapeReport2023

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WhatCanHelpStartups&PSPsRaiseFundsinaMoreEfficientWay?

Networking&Matchmakingevents(77%)andExhibitionsinGlobal&RegionalEvents(65%)areseenasthemostin-needareasforstartups&PSPstoraisefunds.

ChallengesFacedtoReachInvestors

Assharedby135startups

Lackofindustryevents,followedbystartupsnotfullyawareofactiveinvestorsinthemarketortheycan’tfindformalcommunicationformstoreachinvestorsareseenastheirtophurdles.

GapAreasInvestorsDon’tFulfilltoStartups&PSPs

*Assharedby130startups

Supportareasthatstartups&PSPsneedthemostandnotfulfilledbyinvestorarehelpingthemtohavedirectaccesstoregulators(54%),andhaveaccesstootherinternationalmarkets(50%).

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RevenuesGeneratedbyStartups&PSPsIn2022

StartupsRevenueModel

56.3%(100)ofstartups&PSPstakebothfixedfeesaswellas%oftransactionsfromtheircustomers.While,32.2%(57)take%oftransactions,and11.5%(20)takefixedfees.

EgyptFinTechLandscapeReport2023

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GOVERNANCE

Partnershipsdonebystartups&PSPswiththewholeFinTechecosystemandchallengesthathindersthesepartnerships.

PartnershipsofStartupsWiththeFinTechEcosystem

•OngoingPartnershipsBetweenStartups&PSPs

•OngoingPartnershipswithBanks&FinancialInstitutions

Onaverage,eachstartuphasmorethan2partnershipagreementswithbanksorfinancialinstitutionstoenabletheirsolutioninthemarket.

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ChallengesStartups&PSPsFaceToPartnerwithBanks&FinancialInstitutions

StartupsOfficesTypes

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EgyptFinTechLandscapeReport2023

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FINTECHINVESTORS

EgyptFinTechLandscapeReport2023

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ACLOSERLOOKAT

EGYPT’SFINTECH

VENTURECAPITALS,ANGELINVESTMENTNETWORKS,

ACCELERATORS&INCUBATORS

Thesecondsectionprimarilyexaminesthemainpillarsthroughtheinvestors’lens,thusanalyzingeachofthepillarsthroughtheeyesofventurecapitals,angelinvestmentnetworks,accelerators,andincubators,throughtacklingimportantfactorssuchastheevolutionofFinTechinvestorsintheEgyptianmarket,sizeofcurrentlyactivefundsandchallengesthatinvestorsfacetofindpotentialstartups.

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DEMAND

AvailabilityofalltypesofinvestorsinEgypttosupporttheFinTech&FinTech-enabledstartups.

TALENT

Employeesofinvestors’industry,gender-diversitylens,challengesinrecruitments.

FUNDING

Fundsizes,averageequityandticketsizesbyfunds,shareofFinTech

investmentswithinportfolio.

GOVERNANCE&

COLLABORATION

PartnershipsbetweeninvestorsandthewholeFinTechecosystem,gapareasstartupsneedtoworkon.

VENTURECAPITALS,ANGEL INVESTMENT NETWORKS&ACCELERATORS/INCUBATORS

EgyptFinTechLandscapeReport2023

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b>FINTECHINVESTORSMAP

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EgyptFinTechLandscapeReport2023

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DEMAND

Availabilityofalltypesofinvestorsincludingventurecapitalists,angelinvestmentnetworks,andaccelerators&incubatorsinEgypttosupporttheFinTech&FinTech-enabledstartups.

EgypthasauniquestancewhenitcomestopresenceofVentureCapitals,AngelInvestorsand

Accelerators&Incubators

36investorshavebeensurveyed;whoareinvestingininnovativeandtalentedEgyptianFinTech&FinTech-enabledstartups.Where80%areventurecapitalists;while16%areaccelerators,andonly4%areangelinvestmentnetworks.

FinTechInvestorsHeadquarters

Egyptishometo(53%)ofsurveyedinvestors,followedbyUnitedStates(14%)andUnitedArabEmirates(14%)equally.

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FinTechInvestorsStartYear

Majorityofinvestorsin2010-2015wereEgyptian.However,Egypthaswitnessedmoreregionalinvestorsstartingin2016comingfromMENAregion.

By2020,moreinternationalinvestorshavetappedintotheEgyptianmarket,specificallyfromUnitedStates.

FinTech-focusedFunds&Programs

Halfofaccelerators&incubatorshaveFinTech-specificprograms,whilequarterofVCsandangelinvestmentnetworkshaveFinTech-focusedfunds.

AllFinTechSub-sectorsareviewedequallyBy27Investors

EgyptFinTechLandscapeReport2023

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TALENT

Talentsintheinvestmentindustry,employees’dedicationlevel,age-brackets,gender-diversitylens,andchallengesinrecruitments.

TalentsofFinTechInvestors

•536Employees

Workinginthesurveyedinvestors

•42%OfSurveyedInvestors

Haveprovidedtrainingtotheiremployees

infintech&investmentfieldsinthelast12months.

•Employees’Dedication

Majorityare

Full-TimeEmployees(94%).

•Employees’AgeBrackets

years

Investorsarehometoyoungemployees.79%Ofemployeesagedbetween20-40oldwithlessthan20yearsofexperience.

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•FundManagersofVCs&Angels

Althoughfemalesrepresenthalfofemployeesworkingintheinvestmentscene,only18%workinmanageriallevel(i.e.generalpartners)

•FutureHiringPlans

TypesofCertifications&ProgramsInvestorsViewAsMuchNeeded

•Toadvancestartups’investmentreadiness

•Toadvanceemployeesworkingintheinvestmentrelatedentities

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EgyptFinTechLandscapeReport2023

FUNDING

Fundsizes,averageequityandticketsizesbyfunds,shareofFinTechinvestmentswithinportfolio.

VentureCapitals&AngelInvestmentNetworkDeep-Dive

•FundsSizeRanges

Majorityoffundsarewithinthesizerangeof$10Mn&$50Mn,whichishighlyrepresentedbyEgyptian-basedinvestors.Fundswithsizerangegreaterthan$50Maremostlyrepresentedbyregional&internationalinvestors(75%).

•LargerTicketsGiventoStartupsAreMainlybyRegional&InternationalInvestors

Withaverageof$1.37M,comparedto$700KgivenbyEgyptianinvestors.

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•FintechInvestments’StanceIn2022

EgyptianFinTech&FinTech-enabledstartupsarereceivingthelargestchunkofsurveyedinvestors’overalldeployedfundsamounts(73%oftotalinvestmentsdonein2022).

•FemaleFintechStanceIn2022

ShareofFinTechswithfemaleco-founderswithinportfolio(20%)ishigherthanaveragenumberoftotalportfoliostartupsacrossallsectors(17%).

ShareofamountsdirectedtoFinTechswithfemaleco-founderswithinportfolio(34%)ishigherthanaverageamountsdirectedtostartupswithfemaleco-foundersacrossallsectors(26%).

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EgyptFinTechLandscapeReport2023

•Targetfundingstagesforstartups

SeedisthetopfundingstagetargetedbysurveyedVCs&Angels(87%),followedbySeriesA(67%).

Later-stagesstartupsaretheleastservedbyinvestors,whereonly20%targetsSeriesBandnoinvestortargetsseriesC+.

•Expectationsforinvestments

inEgyptianFinTech&FinTech-enabledstartupsin2023

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Accelerators&IncubatorsDeep-Dive

•67%ofAccelerators&Incubatorsprovidefinancialsupportwithintheirprograms.

•FinTech’sstancewithinprovidedprogramsin2022

ShareofgraduatedFinTechswithfemaleco-founders(14%)islowerthanshareoftotalgraduatedstartupswithfemaleco-foundersacrossallsectors(35%).

EgyptFinTechLandscapeReport2023

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GOVERNANCE

PartnershipsbetweeninvestorsandthewholeFinTechecosystem,supportareasprovidedbyinvestorstostartups,andenhancementareasstartupsneedtoworkon.

SupportAreasProvidedtoStartups

•ByVentureCapitals&Angelsotherthanfunding

•ByAccelerators&Incubators

WhatCanHelpInvestorsFindPotentialStartups?

•ForVentureCapitals&Angels

Referralsseenasthebestwaytofindpotentialstartups.

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•ForAccelerators&Incubators

Allsurveyedaccelerators&incubators

affirmedthatNetworking&Matchmakingevents,FinTechRetreats&RoundtablesandCompetitions/Hackatho