On Tuesday, COREangels MEA announced its $10 million fintech fund to accelerate financial technology firms in Africa and the Middle East. This bold initiative is set to transform the fintech scene by providing vital capital and strategic support to innovative companies addressing the unique financial challenges in these regions.
COREangels MEA focuses $10M fund on MEA fintech
The newly launched $10 million fintech fund by COREangels MEA targets early-stage startups developing cutting-edge financial solutions. These startups focus on improving access to credit, payments, insurance, and banking services for underserved populations. The fund aims to back companies that use technology to make financial services more accessible and affordable.
A COREangels MEA spokesperson said, “Our mission is to empower fintech innovators who are reshaping financial inclusion in Africa and the Middle East.” This fund comes at a time when fintech adoption is rapidly increasing in these regions, driven by rising smartphone use and demand for digital financial products.
The fund is designed to provide money, mentorship, and market access. This dual approach will help startups scale faster and navigate the complex regulatory environments common in these markets. By focusing on early-stage companies, COREangels MEA hopes to nurture the next generation of fintech leaders.
Strategic support and partnerships to accelerate fintech Innovation
COREangels MEA is emphasizing that funding alone is not enough. The fintech fund will connect startups with industry experts, investors, and regulators to help overcome market entry challenges. This comprehensive support system aims to create a thriving ecosystem where startups can grow sustainably.
An industry expert commented, “COREangels MEA’s approach of combining capital with strategic support is a smart move. It will help startups not only survive but thrive in the competitive fintech landscape of Africa and the Middle East.” The fund’s launch highlights growing confidence from private investors in the potential of fintech innovation in these regions.
With this $10 million fintech fund, COREangels MEA is positioning itself as a key player in transforming financial services across Africa and the Middle East. The initiative is expected to spark new fintech innovations to redefine how millions of people access and use financial products in these fast-evolving markets.