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Fintech, Digital Commerce, Healthtech in Saudi Arabia are Expected to Attract Substantial VC Funding in 2021, Local Sources Reveal
February 7, 2021 @ 7:36 pm By Omar Faridi
Saudi Arabia’s venture capital funds are increasingly looking to tap into Fintech, digital commerce, and healthcare segments this year.
VC activity has increased considerably in the MENA region including Saudi Arabia during the past few years, with local startups recording a 55% year-over-year growth in funds raised in 2020, according to a report from Arab News which cited estimates from
MAGNiTT.
In a post-COVID world, there are a few sectors in Saudi Arabia that have emerged as good candidates for VC funding as the pandemic has accelerated the shift towards all-digital services and technologies.