RIYADH: Venture Souq, the venture capital firm, has launched the first sector-specific fund focused on fintech in the Middle East, North Africa, Afghanistan and Pakistan region, Asharq Business reported.
The Middle East and North Africa Fintech Fund I is a $50 million fund that invests in fintech and software as a service startups; It focuses on sub-sectors including payments infrastructure, alternative credit, digital banking, real estate technology, insurance technology, and personal financial management along with its close collaboration with innovative entrepreneurs.