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Egypt leads Middle East in Forbes fintech ranking with 13 companies

Egypt leads Middle East in Forbes fintech ranking with 13 companies
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Fawry
FWRY
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Cairo – Mubasher: Egypt led the Middle East as the most represented country in the Forbes ranking list of the region’s top companies in the financial technology (fintech) sector.

The 13 Egyptian companies represented in the list include Fawry for Banking Technology and Electronic Payments which ranked second after the UAE-based Wio Bank, according to a press release.

Egyptian fintech in the Forbes list also comprises MNT-Halan (8th), AMAN Holding (11th), Valu (15th), Thndr (18th), Paymob (20th), Contact Financial Holding (22nd), Paysky (26th), Masria Digital Payments (29th), Money Fellows (31st), Lucky ONE (39th), Telda (44th), and Klickit (50th).

Furthermore, the UAE and Saudi Arabia were represented by 11 companies each.

The Forbes Middle East Fintech 50 List was curated using criteria such as external funding, digital transaction volume, app downloads, active users, consumer impact, geographic reach, and achievements in innovation, growth, and expansion over the past year.

Fintech ventures associated with exchange houses, traditional banks, and governments were not considered for inclusion.