News Analysis

VC funds flow to UAE, fintech startups, but COVID-19 curbs deals

The coronavirus has dampened the number of venture capital deals in the Middle East, but funds nevertheless flowed to Gulf states including the UAE, Saudi Arabia and Egypt in the first few months of the year, with fintech and e-commerce grabbing a big share, according to online startup platform Magnitt.
digital abstract financial numbers floating on screen
Thinkstock