The fund will focus on key subsectors including payments infrastructure, alternative credit, digital banking, proptech, insurtech, and personal financial management. It will also reportedly work closely with innovative regional entrepreneurs that are disrupting financial services.
VentureSouq’s MENA FinTech Fund I is backed by powerhouses from across the region including Jada Fund of Funds programme and Saudi Venture Capital Company (SVC), Bahrain’s Al Waha Fund of Funds, UAE’s DisruptAD, ADQ’s venture platform, and Mubadala Investment Company, as well as multinational conglomerates such as OFC, the Middle East investment arm of The Olayan Group.
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