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A breakdown of Mena exits in 2022

Wamda •

A breakdown of Mena exits in 2022
Image courtesy of Shutterstock

In total, 57 Mena-based startups exited through M&As in 2022, a 30 per cent increase from the previous year. A further 11 Mena-based startups announced acquisitions of international startups, up from eight in 2021. 

The UAE clocked in the most exits with 23 homegrown startups getting acquired, followed by Egypt where 14 startups were acquired. Saudi Arabia saw eight startups exiting. E-commerce, including B2B e-commerce platforms, fintech and foodtech dominated in terms of sector exits.

The UAE was also home to the most active acquirers with 26 deals, followed by KSA (15) and Egypt (10). When compared to 2021, UAE companies acquired 16 startups, Saudi Arabia acquired only four while US-based companies acquired seven regional startups. Last year, just three US companies acquired regional startups, highlighting the withdrawal of global investors.

Smaller ecosystems also saw an uptick in M&A activity, including Iraq, Kuwait, Jordan and Qatar.

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