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The UAE continues to lead MENA in non-mega funding for start-ups, having secured more than $150m across 30 deals in 1Q'23. More than 60% of the total funding in the UAE came from the top three rounds recorded by fintech company Tabby, dine-in payment disrupter Qlub, and online coffee marketplace Cofe.
“After a record year of exits in 2022, we predicted that given the challenges of raising funds in an environment of higher interest rates, start-ups will likely seek acquisitions or consolidations as an alternative to fund-raising.”
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