A total of 40 MENA startups raised $282 million in May 2024 marking a remarkable 413% increase from April’s $55 million. This growth was primarily fueled by debt financing which contributed nearly $140 million to the total amount raised. Overall, the proptech (property technology) sector took the lead as the top-funded sector, garnering $167.2 million over seven rounds. The fintech sector notably lagged behind attracting $32.7 million in investments across 12 startups positioning it as the second highest-funded sector. Additionally, three startups in the logistics industry secured substantial funding totalling $25.3 million.

Source: The North Africa Journal June 10, 2024 07:09 UTC