HomeFinance NewsFinanceUAE's Fintech Revolution Soars Amidst Global Downturn: 92% Funding Surge Defies the...

UAE’s Fintech Revolution Soars Amidst Global Downturn: 92% Funding Surge Defies the Odds


UAE defies fintech slowdown with a 92% jump in funding — against a global plunge of 48%


Global fintech investment saw a significant drop in 2023, falling by 48% as interest rates and macroeconomic conditions worsened.

The UAE emerged as a standout performer, with investment soaring by 92% due to supportive regulations and digital adoption.

The United Kingdom remained the second-largest fintech hub, attracting $5.1 billion in funding but still experienced a decline.

Seed-stage and early-stage fintechs showed more resilience than their growth-stage counterparts.

The United States, India, Singapore, and China followed the UK in terms of fintech investment.

Top deals globally accounted for 18% of total investment, with Stripe securing the largest funding.

The UK government’s role in promoting effective regulation is crucial for future fintech growth.

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    “Still, despite that drop, there was one standout performer on Innovate Finance’s list when it came to funding: the United Arab Emirates.”

    “According to Innovate Finance, the UAE saw total investment soar 92% in 2023, thanks in part to more fintech-friendly regulations, and as adoption of digital banking and other tools expanded in the region.”


    “The fintech industry saw more pain in 2023, with overall investment falling by half as higher interest rates and worsening macroeconomic conditions caused investors to tighten their belts, according to global investment figures shared exclusively with CNBC.”

    “Financial technology has had its share of gloom over the past 12 months, amid intensifying conflicts between Russia and Ukraine and Israel and Hamas, ongoing geopolitical tensions between the U.S. and China, and broader uncertainties affecting financial markets, such as higher interest rates.”

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