‘Common sense has returned’ to fintech investment market

There was a 31 percent increase in unique investors in the fintech market in Mena during the first half of 2024. But there was a distinct lack of “mega-deals”.

Gautam Jain, head of investments at SC Ventures, told AGBI that he believes this is a good thing for the future of the market.

“People were throwing money at these fintechs at valuations which were actually quite mind-boggling,” he said.

“The industry has self-corrected, and now the focus is more on realistic valuations, which are backed by profitability.”

The focus is now on creating sustainable businesses, Jain said.

“Common sense has returned to the market.”

Watch the video to find out more about a “narrative shift” in the market in the region

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