Inspiring Entrepreneurs Leading the Fintech Scene in the MENA Region

Last updated 5-02-2025

13 min

The financial landscape of the MENA region is undergoing a seismic shift, driven by a new generation of trailblazing entrepreneurs redefining the way businesses and individuals interact with money. These visionaries are not just building companies; they are crafting the infrastructure of a digital-first economy—one that prioritizes accessibility, efficiency, and financial inclusion.

From revolutionizing payments and SME financing to democratizing financial services through AI and embedded finance, these leaders are breaking barriers, unlocking new opportunities, and challenging the status quo. Their startups are securing record-breaking investments, expanding across borders, and reshaping the fintech ecosystem with disruptive solutions.

In this feature, we spotlight the minds behind the most influential fintech startups in MENA—innovators who are not only driving technological advancements but also empowering businesses, fostering inclusion, and paving the way for a cashless future.

Anand Nagaraj is a prominent figure in the MENA fintech landscape, renowned for his innovative contributions to SME financing. He co-founded Invoice Bazaar in 2016, a Dubai-based supply chain finance platform that facilitated early receivables for underserved SMEs, enhancing their working capital. The platform's success led to its acquisition by Triterras in May 2021.

In February 2024, Nagaraj launched CredibleX, an embedded finance platform designed to provide instant lending solutions to SMEs through partnerships with businesses. Under his leadership, CredibleX secured a $55 million seed round to expand its services, aiming to empower SMEs across the MENA region.

Before his entrepreneurial ventures, Nagaraj held significant roles in the banking sector, including Senior Vice President at Citi's Commercial Banking division in the Middle East and Assistant Vice President at ICICI Bank. His extensive experience in banking and fintech has been instrumental in addressing the financing challenges faced by SMEs in the region.

Mounir Nakhla is a pioneering Egyptian entrepreneur renowned for advancing financial inclusion in the MENA region. He co-founded MNT-Halan in 2018, a fintech ecosystem offering services such as microloans, consumer finance, and digital payments to unbanked and underbanked populations. Under his leadership, MNT-Halan became Egypt's first private tech firm to surpass a $1 billion valuation, marking it as Africa's first unicorn in 2023.

Before MNT-Halan, Nakhla founded several microfinance ventures. In 2009, he established Mashroey, an asset-based microfinance company providing financing for utility vehicles and later expanding to electronics and affordable housing. In 2015, he launched Tasaheel, focusing on microloans for skilled working women. Both companies have significantly contributed to financial inclusion in Egypt.

Soulaimane Lahrech is a Moroccan entrepreneur specializing in data technologies and artificial intelligence (AI). He is the Founding Partner and Chief Operating Officer at AIOX Labs, an AI studio and venture builder dedicated to leveraging data science to address critical business challenges.

In December 2022, Lahrech founded Talaty, where he serves as Chief Executive Officer. Talaty utilizes deep AI-powered behavioral finance models to provide instant loans for small and medium-sized businesses, aiming to reduce costs and default rates.

Lahrech's career includes co-founding Akumen IA, a joint venture between Valyans Consulting and AIOX Labs, specializing in artificial intelligence and big data solutions. He has also served as an advisor for startups like Deepecho and ToumAI, focusing on AI applications in medical imaging and speech-to-insight technologies, respectively.

His academic background includes studies at the London School of Economics and Political Science, where he earned a Master of Science in Development. Through his ventures, Lahrech is at the forefront of integrating AI and data science into business solutions, contributing significantly to technological innovation in the MENA region.

Islam Shawky is the Co-founder and Chief Executive Officer of Paymob, a leading financial technology company in the MENA region. He earned his Bachelor of Science in Mechanical Engineering from the American University in Cairo (AUC). During his studies, Shawky co-founded Paymob in 2015 alongside fellow students Mostafa Menessy and Alain El Hajj, aiming to address the gap in digital payments within Egypt.

Under Shawky's leadership, Paymob has expanded its operations beyond Egypt to countries including the United Arab Emirates, Saudi Arabia, Oman, and Pakistan. The company processes millions of transactions annually, amounting to billions of dollars, and serves over 250,000 merchants. Paymob offers more than 40 payment methods, empowering SMEs to manage and scale their businesses.

Paymob has secured a total investment of $68.5 million from prominent investors such as PayPal Ventures, Kora Capital, Clay Point Capital, Global Ventures, FMO, A15, British International Investment, Helios Digital Ventures, and Nclude. The company has been recognized by Forbes Middle East as a top regional fintech company for the past three years.

In addition to his role at Paymob, Shawky serves on the Board of Trustees of the Technology Innovation and Entrepreneurship Center (TIEC). He is passionate about developing innovative enterprise technologies that drive financial inclusion in the MENA region. His contributions have been acknowledged by Forbes 30 Under 30 in 2021, and he was named an Endeavor Entrepreneur in 2022.

Momtaz Moussa is an Egyptian entrepreneur and the co-founder and CEO of Lucky App, a fintech platform launched in 2018 that offers credit products, discounts, and cashback rewards to users in the MENA region. Under his leadership, Lucky has amassed over eight million registered users and partnered with more than 20,000 local and global brands.

In March 2022, Lucky secured a $25 million Series A funding round, marking the largest such raise by an Egyptian fintech at that time. The investment was led by Nclude, with participation from major financial institutions and venture capital firms.

Before founding Lucky, Moussa co-founded Dsquares in 2011, a company specializing in customer loyalty programs. He also held leadership roles at OLX Group, serving as CEO for India and General Manager for MENA emerging markets.

Moussa holds an MBA from INSEAD and a Bachelor of Science in Computer Science from The American University in Cairo.

Ahmad Coucha is an Egyptian entrepreneur and the co-founder and CEO of FlapKap, a revenue-based and embedded financing platform established in January 2022. FlapKap aims to accelerate the growth of e-businesses in the MENA region by providing fast, flexible, and insightful funding solutions. The platform leverages AI-powered insights to offer tailored financing options, allowing businesses to manage their cash flows more effectively.

Before founding FlapKap, Coucha co-founded Kijamii in 2011, a digital advertising agency that grew to become one of MENA's largest and most awarded independent advertising networks. He served as the Chief Strategy & Finance Officer, leading the agency's expansion across multiple countries, including Saudi Arabia, the UAE, Egypt, and Lebanon.

Coucha's academic background includes a Bachelor of Science in Electrical Power Engineering from Ain Shams University, a Master's in International Management from IE Business School in Madrid, and a Master's in Public Administration with a focus on Economics and Public Finance from Harvard University.

Dr. Mohamed Zaghoo is a physicist and entrepreneur, currently serving as the CEO and co-founder of Amwal Tech, a fintech startup established in April 2022. Amwal Tech specializes in frictionless FIDO-based payment solutions, integrating identity verification, fraud prevention, and payment processing into a single API. The company's proprietary encryption and authentication solutions are U.S. patent-pending, aiming to enhance the security and efficiency of digital payments.

Before founding Amwal Tech, Dr. Zaghoo was a Senior Management Consultant at McKinsey & Company, focusing on digital technology and advanced analytics within the firm's Quantum Black and McKinsey LEAP practices. He also held academic positions as a Research Assistant Professor at the Laboratory for Laser Energetics and served as a Visiting Scientist at Lawrence Livermore National Security. His research contributions have been recognized through honors such as the NASA Earth & Space Science Fellowship and the Goldman Sachs Fellowship at Harvard.

Dr. Zaghoo's academic credentials include a Ph.D. in Engineering Physics/Applied Physics and a Master's degree in Physics from Harvard University. He has also been involved in investment activities, supporting ventures like Reddit (pre-IPO round), Proteinea, and Hermes Space. His diverse background in physics, technology, and business positions him at the forefront of innovation in the fintech industry.

Hussein Abou Bakr is an Egyptian entrepreneur with over 19 years of experience in food ingredient processing and agricultural value-chain management. He is the founder and CEO of Mozare3, Egypt's first agri-fintech platform launched in 2021. Mozare3 offers services such as direct contract farming, embedded finance providing inputs like pesticides and fertilizers, and agronomy support through a dedicated app and contact center. The platform aims to enhance the productivity and financial stability of smallholder farmers across Egypt.

Prior to Mozare3, Abou Bakr founded Plantform Agribusiness Ltd. in 2016, focusing on agriculture and food processing. He also served as the Herbs, Spices & Vegetables Director at Fridal, where he established an agro-processing export division. His educational background includes a Bachelor's degree in International Marketing from The American University in Cairo.

Under Abou Bakr's leadership, Mozare3 has expanded its operations to multiple governorates in Egypt, serving thousands of farmers and partnering with several corporate clients. The company has secured funding from institutional investors, including Algebra Ventures and Disruptech Ventures, to support its mission of transforming the agricultural sector in Egypt and the broader Middle East region.

Ahmad Mokhtar is the Co-Founder and Chief Executive Officer of Swypex, an Egyptian fintech company established in 2022. Swypex offers an all-in-one financial management platform that integrates payments, invoice management, and smart corporate cards to streamline business financial operations.

Before founding Swypex, Ahmad Mokhtar held the position of Director of Software Engineering at PlayStation from November 2017 to August 2022. In May 2024, under Ahmad's leadership, Swypex secured a $4 million seed investment round led by Accel, marking the venture capital firm's first fintech investment in the region. This funding round also saw participation from Foundation Ventures, The Raba Partnership, and prominent angel investors. Ahmad Mokhtar holds a Bachelor's degree in Software Engineering from McGill University.

Nader Abdelrazik is an Egyptian entrepreneur and the co-founder and CEO of MoneyHash, a payment orchestration platform established in early 2021. MoneyHash offers a comprehensive payment operating system designed to streamline payment processes for businesses in the MENA region. The platform provides a unified API for pay-in and pay-out operations, customizable checkout experiences, transaction routing with fraud prevention, and comprehensive reporting tools. These features aim to enhance payment performance and reduce operational complexities for merchants in emerging markets.

Under Abdelrazik's leadership, MoneyHash has achieved significant milestones, including securing $5.2 million in pre-A funding in January 2025. This round was led by Flourish Ventures and included participation from Vision Ventures, Arab Bank Venture Capital, and Emurgo Kepple Ventures. The company has also expanded its network to over 300 pre-integrated APIs, connecting to payment service providers and methods across more than 100 markets. Notable clients include Tamara, Kitopi, and Brands For Less.

Before founding MoneyHash, Abdelrazik accumulated over 15 years of experience in strategy, consulting, and complexity management, working with startups and organizations in payments, fintech, and blockchain across Africa and the Middle East. He holds a Master's degree in Development Economics and International Development from the University of California, Berkeley.

Omar Saleh is the Co-Founder and CEO of Khazna, a mobile financial application launched in 2020, designed to enhance financial inclusion for Egypt's underbanked population and micro-businesses. Under his leadership, Khazna has established over 300 partnerships and serves more than 500,000 users.

Before founding Khazna, Omar held strategic roles at WorldRemit, where he led the company's expansion into the Middle East and North Africa, and at ADES International, where he managed post-IPO growth and secured nearly $400 million in investments.

Omar's educational background includes an MBA from Stanford University Graduate School of Business and a BSc in Chemical Engineering from Cairo University.

Ahmed Atalla is the CEO and Co-Founder of Raseedi App, a fintech company in Egypt that serves the underbanked population. He has been leading the company since November 2018. Prior to founding Raseedi, Ahmed held positions such as Marketing Manager at elmenus and Marketing Team Leader for Consumer Segments at Vodafone. He also worked as a Sales Section Manager in the Modern Trade Channel at Procter & Gamble. Ahmed earned his Bachelor's Degree in Architectural Engineering from The American University in Cairo, graduating in 2014.

Under Ahmed's leadership, Raseedi has achieved significant milestones, including the acquisition of Kashat, a local nanolending app, to broaden its financial offerings. This strategic move aims to provide instant cash loans to underbanked users, enhancing financial inclusion in Egypt.

Ahmed Abdel Moneim is the Founder and Executive Chairman of Just2Pay, a fintech company specializing in innovative payment solutions across various sectors in the MENA region. With over 16 years of experience in the fintech and banking industries, he has a strong background in business administration and management, complemented by certifications in customer service, anti-money laundering, and incident management. His leadership focuses on providing choice, convenience, and security to clients, particularly enabling MSMEs to access digital payment platforms to grow their businesses. Moneim has a proven track record in devising and executing strategies that enhance business operations, streamline channels, and promote product excellence.

Moneim holds a Bachelor of Science (B.S.) degree in Business Administration and Management from Modern Academy.

Amir Fardghassemi is the Founder and CEO of Jingle Pay, a UAE-based financial super-app that offers digital payment services across multiple countries. He established Jingle Pay in 2018 after a distinguished 11-year career in investment banking and financial technology, including roles as a hedge fund manager and fintech leader. Throughout his career, Amir has managed a hedge fund, held leadership positions in fintech, and averaged a trading volume exceeding $1 billion annually. He is also a savvy investor with over 5,000 investments across global capital markets. Under Amir's leadership, Jingle Pay has emerged as a leader in the fintech space, powered by its proprietary AI-driven platform. In 2024 alone, the company processed over two million transactions and facilitated over $1 billion in international money transfers, saving customers over $6 million in fees.

Amir holds a Bachelor of Science (B.S.) degree in Business Administration and Management from Pepperdine University.

Mohammad W. Rabie is the founder and CEO of PayMint, an Egyptian fintech startup established in 2019. PayMint offers digital payment solutions tailored for MSMEs, retail shops, companies employing casual laborers, blue-collar workers, and freelancers. The platform provides a seamless cashless experience for managing business finances.

Prior to founding PayMint, Rabie accumulated over 13 years of experience in the banking and fintech sectors. He holds the Associate Retail Banker (ARB1) credential from the Retail Banking Academy and has extensive expertise in prepaid portfolio development, financial inclusion, marketing, business development, and digital transformation. Additionally, he has served as a business development consultant for AZA, a leading provider of currency trading solutions in Africa.

Mo Aziz is the Co-Founder and CEO of Pluto, a leading spend management platform based in the UAE. Pluto offers enterprises solutions to manage expenses, smart corporate cards, and end-to-end accounts payable processes. The platform integrates with major ERPs like Oracle Netsuite, Sage, MS Dynamics, and Xero, providing automated accounting integrations to streamline financial operations.

Under Mo's leadership, Pluto has achieved significant milestones, including a strategic partnership with Neoleap to expand operations in Saudi Arabia and raising $6 million in seed funding led by Global Founders Capital.