Cairo - Sharikat Mubasher: The fintech ecosystem in Egypt has witnessed significant growth in recent years, driven by increasing digital adoption, supportive regulations, and rising investors' interest. The sector has seen a surge in digital payments, lending, insurtech, and pay now, pay later (BNPL) solutions, backed by government efforts to accelerate financial inclusion.

Egypt was the second most represented country on Forbes Middle East’s Fintech 50 list, with 12 companies, following the UAE, which had 13 companies.

Leading e-payment company Fawry ranked second on the list, following Saudi Arabia’s Tabby, boosted by its 53.1 million customers.

Along with Fawry, the list included MNT-Halan, Thndr, Valu, AMAN Holding, MDP, Paysky, Paymob, Sahl, Contact Financial Holding, Khazna, and Klivvr.

The 50 companies on this year’s list have processed a total of over $240 billion in transactions, having secured more than $3.8 billion in total funding.