The United Arab Emirates’ FinTech market is projected to expand from $3.16 billion in 2024 to $5.71 billion by 2029, driven by strong venture capital flows, widespread digital adoption, and increasing use of artificial intelligence, according to a joint report by Emirates NBD and PwC Middle East.
Titled “From Code to Capital: The UAE’s FinTech Revolution,” the 2025 edition of the report was unveiled at the Dubai FinTech Summit earlier this month. The study notes that FinTech startups in the UAE secured approximately $265 million in funding during 2024, accounting for nearly a third of all startup financing in the country.
According to the report, digital readiness remains a core strength of the UAE’s innovation ecosystem, with smartphone penetration exceeding 90% and 88% of the population regularly using digital payments. These figures have positioned the UAE as a compelling destination for FinTech innovation and investment.
“The UAE’s $265 million of FinTech funding in 2024 signals strong investor confidence,” said Neeraj Makin, Group Head of Strategy, Analytics and Venture Capital at Emirates NBD. “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.”
PwC’s Stephen Anderson, Strategy Leader for the Middle East, described the UAE as a region “transformed by innovation, driven by technology and visionary strategies,” noting the FinTech sector’s evolving role in reshaping financial services.
The report also highlights how artificial intelligence is now embedded across the financial value chain—enhancing personalisation, improving compliance and risk modelling, and streamlining operational efficiencies.
Meanwhile, venture capital-backed foreign direct investment (FDI) into Dubai surged by 39% in 2024, reaching $222 million, underscoring the emirate’s rising appeal among global tech investors.
Dubai also ranked among the world’s top five cities for FinTech in the most recent Global Financial Centre Index (GFCI) rankings. Analysts credited the Dubai International Financial Centre (DIFC) for its role in building the ecosystem over the last two decades, serving as a key regulatory and infrastructural anchor for FinTech growth.
