The latest in the LFP’s coverage of Fintech in geographical regions and this fascinating balance between the bottom-up and the top-down, between localisation and globalisation of Fintech.
Said, a partner at Global Ventures, is well-placed to give us a tour d’horizon as not just is his day job being a VC specialising in the region but he was previously a CEO, COO and consultant so he is someone who really understands business in the round as well as being born in Jordan and living in Dubai.
Topics discussed include:
- working on a bid for Liverpool Football Club
- valuing football clubs
- intangibles and goodwill
- Said’s career journey
- the Japanese spiral staircase model of career progression
- where is the Middle East/MENA? Where does it end?
- geography versus practicality from an investment perspective – the latter often including Turkey and Pakistan eg which is a long way away, whilst eg not including Iran
- general background to the region/subregions
- 2022 Tech space VC funding was ~$3.2bn of which just under $1bn went into Fintech
- historically roots in Levant and Egypt where the older tech companies were born
- cross-border as an ancient background
- 400m population in MENA of which 100m in Egypt
- early stage companies often focus on Egypt/Saudi/UAE as their heartland
- Etihad and Emirates as GCC exemplars of quality
- the relevance of geography and historical trading patterns
- general needs across the region and how they vary
- Fintech in the GCC
- trends in the subtypes of Fintech
- affinity to partner with Fintechs to lower cost to serve
- GV’s Fintech in MENA 2020 Report (main bones of which still apply)
- when did Fintech take off in the region?
- a VC community per se in the region emerged roughly 2010 onwards
- some key regional Fintechs
- Fintech in the Levant and North America
- what leads to differences
- key exemplars
- the development of Fintech in North Africa is further ahead the further east
- Fintech and Islamic Banking – some Fintechs offer one or the other or both
- going forwards unique opportuniti9es in the region and “leapfrogging”
- shoutouts for Global Ventures
- what GV are looking for in terms of founders
And much much more 🙂
Share and enjoy!