Egyptian start-ups secure $4mln venture debt funding in 2023

Image used for illustrative purpose. Getty Images
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Saudi Arabian startups topped the list in terms of the value of venture debt deals closed last year in the MENA region

Staff Writer, Arab Finance

June 6, 2024

PHOTO
Image used for illustrative purpose. Getty Images

Egyptian start-ups received a total of $4 million in venture debt funding in 2023, representing an 86% year-on-year (YoY) drop, according to Magnitt’s 2023 MENA Venture Debt Investment report.

As per the report, Egypt came in third place in terms of total VD lending in the Middle East and North Africa (MENA) region in 2023.

Saudi Arabian startups topped the list in terms of the value of venture debt deals closed last year in the MENA region, receiving $400 million, followed by UAE-based start-ups, securing $353 million.

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