Tagged: united arab emirates

Dubai: DIFC Introduces Venture Building Platform to Support Growth of Startups

Dubai International Financial Centre (DIFC), the global financial centre in the MENA and South Asia region, officially announced the launch of its venture building programme, ‘DIFC Launchpad’. The initiative seeks to develop a strong venture building model “that promotes the growth of innovative start-ups and… Read More

Central Bank of UAE, Reserve Bank of India to Support Innovation in Financial Services

The Central Bank of the United Arab Emirates (CBUAE) and the Reserve Bank of India (RBI) signed recently a Memorandum of Understanding (MoU) in Abu Dhabi, United Arab Emirates to enhance cooperation and jointly enable innovation in financial products and services. Under the MoU, the… Read More

Israel-based Fintech Liquidity Group to Support Gulf Startups with $500M

Liquidity Group, an Israel-based fintech and asset manager, is looking to provide $500 million this year “to support startups in the UAE and across the Middle East.” The company reached unicorn status last month, “with fresh investment of $40 million from Japan’s MUFG at a… Read More

ADGM-based Israeli Fintech Liquidity Group Introduces Global Initiative in Abu Dhabi

Liquidity Group, a pioneering financial technology firm and asset manager that uses patented machine learning and decision science to provide capital to high-growth technology companies, has announced the launch of its global ‘Twenty Chairs’ series. The series will bring together leading industry players “to network… Read More

Dubai International Financial Centre Selects Napier to Offer Client Screening Capabilities

Dubai International Financial Centre (DIFC), the global financial centre in the MENA and South Asia region, has chosen anti-financial crime compliance specialist Napier in order to upgrade the screening services they employ with Napier Client Screening. With the next-generation solution, the DIFC Authority will “benefit… Read More

Global Fintech Remitly Expands into Middle East with UAE Launch, Dubai Office

Remitly Global, Inc. (NASDAQ: RELY), a digital financial services provider for immigrants and their families, announced it has expanded into the Middle East with the launch of its outbound remittance product in the UAE. Remitly has also “opened an office in the Dubai International Financial… Read More

UAE Fintech InvestSky Introduces Social Investing Platform with Alpaca

UAE-based Fintech firm InvestSky has launched a social investing platform with assistance from Alpaca. InvestSky is a social investing platform that “offers a new generation of investors the opportunity to embark on trading stocks in a more inclusive, intuitive, and informed way.” InvestSky was established… Read More

Abu Dhabi Introduces ‘Hub71 + Digital Assets’ to Accelerate Growth of Web3 Startups

Hub71, Abu Dhabi’s global tech ecosystem, announced the launch of Hub71+ Digital Assets, a dedicated Web3 specialist ecosystem, “with more than $2 billion of capital committed to fund Web3 startups and blockchain technologies from the UAE’s capital.” Hub71+ is “a specialist ecosystem dedicated to advancing… Read More

Central Bank of UAE Launches Financial Infrastructure Initiative to Accelerate Digital Transformation

In line with the vision of H.H. Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of the Presidential Court, and Chairman of the Central Bank of the UAE’s (CBUAE) Board of Directors, the CBUAE launched its Financial Infrastructure Transformation Program (FIT program)… Read More

MENA Region’s Network International, Carrefour Implement PopID’s Face Verification Platform

In a “first” for biometric payments in the UAE, Network International, the enabler of digital commerce in the MENA region, and Carrefour, owned and operated by Majid Al Futtaim in the UAE, announced that they have “implemented the Face Pay face verification platform for payments… Read More

UAE’s B2B Fintech Alaan Secures $4.5M via Pre-Series A Round

UAE-based Alaan, the spend management platform for Middle Eastern businesses, announced that it has raised $4.5 million pre-Series A funding, “backed by Presight Capital, Y Combinator, and angel investors.” Together with the $2.5 million seed round last year, Alaan has “raised a total of $7… Read More

Pine Labs Enters UAE to Enable Fintech Platform for Banks, Merchants

Merchant commerce omnichannel platform, Pine Labs announced that it has entered the United Arab Emirates (UAE) market. Pine Labs will partner local banks and financial institutions in the region “to help them serve their merchant partners better.” Banks in the UAE will “benefit from a… Read More

Fintech PayBy Licensed by UAE Central Bank to Conduct Retail Payment Services Operations

PayBy, a Fintech firm recently acquired by Astra Tech in August 2022, has been licensed by the Central Bank of the UAE “to conduct Stored Value Facility (SVF) and Retail Payment Services (RPS) operations.” The license “represents one of the country’s highest levels of financial… Read More

Startups in Abu Dhabi to Receive Streamlined Banking Services with Assistance from Flat6Labs, Wio Bank

In a bid to further strengthen Abu Dhabi’s entrepreneurship ecosystem, Flat6Labs, the MENA region’s seed-stage program and early-stage venture capital firm, and Wio Bank, the region’s first platform bank, have “signed a Memorandum of Understanding (MoU).” Under the agreement, startups from Flat6Labs Ignite, a specialized… Read More

Dubai Chamber of Commerce Launches Fintech, Payments Business Group

Dubai Chamber of Commerce has announced the launch of a new Fintech & Payments Business Group aimed at bringing together companies of all sizes “within the fintech and payments sector to encourage collegial dialogue, advocate policy change and promote the emirate as a highly competitive global… Read More

Fintech Galaxy Acquires Egypt’s Underlie as it Expands Open Finance Footprint

UAE-based Fintech Galaxy, the “first” Central Bank-regulated Open Finance platform in the Middle East, announced the acquisition of Underlie, an Egypt-based Open Banking platform offering APIs to banks and businesses. The deal will help “to set FTG’s Open Finance and Open Banking wheels in full… Read More

QuantCube Technology Secures Series B Funding to Support Business Growth

Real-time economic intelligence provider QuantCube Technology announced that it has secured funding led by Strategic Development Fund (SDF), the investment arm of UAE’s Tawazun Council, “together with previous backers Moody’s and Five Capital, and other private investors.” Using AI to analyze billions of alternative data… Read More

UAE’s Investment Firm National Bonds Selects Azentio’s iMAL to Enhance Operational Efficiency

Azentio Software, a Singapore-headquartered technology firm owned by funds managed by Apax Partners, announced that National Bonds, the UAE’s Shariah-compliant savings and investment company owned by the Investment Corporation of Dubai, has “selected Azentio’s Islamic Banking solution, iMAL, to support its quest to improve process… Read More

IFZA Dubai, Wio Bank to Offer Digital Banking Services

Dubai UAE Beach Camels fredrik-ohlander-unsplash

IFZA Dubai, which claims to be the UAE’s most “dynamic” and “truly” international Free Zone, has entered into a partnership agreement with Wio Bank, the region’s “first” platform bank, “to provide IFZA Free Zone companies with quick and convenient access to digital banking services and… Read More

UAE based Fintech Firm Qashio Secures $10M

UAE-headquartered fintech Qashio has raised $10 million in a seed round, “with participation from strategic international and regional investors to accelerate expansion into the Kingdom of Saudi Arabia.” The investment round is “supported by global investors such as One Way Ventures (early investors in Brex),… Read More

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