UAE FinTech market set to hit $5.71 bn by 2029
It was previewed at the recent Dubai FinTech Summit 2025, where it was revealed that fintech startups in the UAE attracted around $265 million in 2024 – approximately one-third of total startup funding in the country.
It also highlighted the proliferation of digital adoption, venture capital investment, as well as the widespread integration of AI.
This surge has been powered by widespread consumer adoption, investor confidence, and strong partnerships across public and private sectors, added the report.
Neeraj Makin, group head of strategy, analytics and venture capital at Emirates NBD said, 'The UAE's $265 million of FinTech funding in 2024 signals strong investor confidence. Bolstered by a robust venture capital network, diverse talent, and clear exit paths, the UAE is primed to attract even greater investment and cultivate future FinTech leaders.'
Stephen Anderson, Strategy Leader at PwC Middle East, said, 'This report illuminates the dynamic FinTech landscape within Dubai. We see a region transformed by innovation, driven by technology and visionary strategies,' he was quoted as saying.
The report also highlighted the impact of artificial intelligence in transforming every layer of financial services from personalization to compliance and risk modeling.
In 2024, Dubai's venture-capital-backed FDI soared 39 per cent in 2024, attracting $222 million that flowed into startups based in Dubai – underscoring the city's growing appeal among global venture firms.
Dubai was also recently ranked in the top five cities for fintech in the latest edition of Global Financial Centre Index (GFCI) rankings, with success being attributed to the contributions of the Dubai International Financial Centre (DIFC) over the past 20 years.
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