Venture Souq launches $50 million fintech fund

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.

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