Tagged: mena region

November 28, 2022 @ 11:01 pm By Omar Faridi  |  

Checkout.com releases the second phase of its Digital Transformation in MENA 2022 report. Following the launch of part one last month – which included insights from 15,000 consumers in the region – the next chapter “interviews businesses and their leaders at the forefront of the… Read More

November 26, 2022 @ 7:36 pm By Omar Faridi  |  

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

November 25, 2022 @ 4:20 pm By Omar Faridi  |  

Sygnum, which claims to be the world’s first digital asset bank and first Swiss bank to open a hub in the metaverse, leverages its oversubscribed USD 90m Series B “to expand internationally into Abu Dhabi’s high-growth crypto-hub.” In addition to this, Sygnum is further strengthening… Read More

November 24, 2022 @ 8:32 pm By Omar Faridi  |  

CoverGo, the global no-code insurance SaaS platform for P&C, health, and life, is expanding to the Middle East “after a US$15 million Series A funding, with a Middle East insurance fund Noria Capital joining as one of the strategic investors.” CoverGo has been “adopted by… Read More

November 24, 2022 @ 2:26 pm By Omar Faridi  |  

Ta3meed, which claims to be the “only” Purchase Orders (PO) financing platform in Saudi Arabia has selected Moneythor as a partner for its digital banking & loyalty management platform “to implement smart loyalty features in its innovative Islamic financing solution.” In line with Saudi Arabia’s… Read More

November 20, 2022 @ 1:51 pm By Omar Faridi  |  

Abu Dhabi Global Market (ADGM), an international financial center located in UAE’s capital emirate announced a partnership with Rackspace Technology (NASDAQ:RXT), in order “to collaborate on a number of strategic technology initiatives.” As a long standing global leading service provider in multi-cloud computing, technology advisory… Read More

November 17, 2022 @ 10:07 pm By Omar Faridi  |  

Spare, an open banking platform licensed by the Central Bank of Bahrain, has announced its partnership with Eazy Financial Services, a Bahraini Payment Services Provider that is focused on “specializing in POS and online payment gateway acquiring solutions to embrace opportunities in Open Banking.” The… Read More

November 17, 2022 @ 9:11 pm By Omar Faridi  |  

Holding its third day of sessions and panel discussions under the overarching theme of “Crypto Abu Dhabi”, Abu Dhabi Finance week witnessed the launch of Abu Dhabi Crypto Hub by Abu Dhabi Global Market (ADGM), the international financial centre (IFC) of the UAE’s capital. Given… Read More

November 17, 2022 @ 9:09 pm By Omar Faridi  |  

Diebold Nixdorf (NYSE: DBD), a global player focused on driving connected commerce for the financial and retail industries, announced a multi-year services and strategic contract with Alhamrani Universal, Saudi Arabia’s largest fintech solutions provider in the self-service banking industry. Backed by Diebold Nixdorf solutions, including… Read More

November 12, 2022 @ 3:18 pm By Omar Faridi  |  

Globally, rising inflation, a higher cost of living, and slower wage growth are impacting the lives of people right around the world. A recent report suggested that many consumers are turning to physical cash to help manage their finances amid the cost-of-living crisis. But Muhannad… Read More

November 11, 2022 @ 7:53 am By Omar Faridi  |  

Blnk, a fintech startup that enables instant consumer credit in Egypt, has “raised $23.7 million in equity and debt funding, and $8.3 million in securitized bond issuance to accelerate financial inclusion within underserved communities across the country.” The funds will support “further development of Blnk’s… Read More

November 9, 2022 @ 9:34 pm By Omar Faridi  |  

PayTabs — MENA and South Asia’s payments Fintech — in a new move announced that it plans “to acquire a 100% stake in Digital Pay, Saudi Arabia.” Under the terms of the acquisition, Digital Pay will “serve as PayTabs’ flagship point of sale (POS) terminal… Read More

November 9, 2022 @ 4:19 pm By Omar Faridi  |  

Mambu’s cloud-native banking platform enables Wio Bank “to achieve a faster time to market as it helps establish the UAE as a hub for the growing digital economy.” Wio Bank provides access “to banking and business support services in a fast, convenient and fully digital… Read More

November 8, 2022 @ 10:47 pm By Omar Faridi  |  

The strategic collaboration between Odoo and Aramco outlines the long-term goals between the two companies “in line with Saudi Arabia’s Vision 2030.” Small and medium-sized enterprises (SMEs) are “among the most significant drivers of economic growth and an important area of focus of the Saudi… Read More

November 7, 2022 @ 11:11 pm By Omar Faridi  |  

SAMA announced the issuance of the Open Banking Framework as one of the key outputs of the Open Banking Program, which “includes a comprehensive set of legislation, regulatory guidelines and technical standards based on international best practices to enable banks and fintechs to provide open… Read More

November 7, 2022 @ 10:27 pm By Omar Faridi  |  

Enjaz Payment Services Company, a Fintech company licensed by the Saudi Central Bank announced a partnership with Thunes, a global player focused on cross-border payments. This agreement will help customers in Saudi Arabia “to make instant international transfers globally to bank accounts and digital wallets… Read More

November 7, 2022 @ 8:17 pm By Omar Faridi  |  

Fintech Galaxy, which claims to be the “industry-leading” financial innovation company, has become the first central bank regulated Open Finance platform in the MENA region “after receiving a license from the Central Bank of Bahrain (CBB), allowing the firm to operate as a regulated Third-Party… Read More

November 3, 2022 @ 8:43 pm By Omar Faridi  |  

Paymob, the omnichannel payments facilitator in MENAP, embarked on the next phase of its regional expansion in the UAE market. This step marks “an important milestone in Paymob’s global growth plans, fueled by recent Series B funding led by PayPal Ventures.” Paymob plans “to make… Read More

November 1, 2022 @ 7:51 am By Omar Faridi  |  

Money Fellows, which claims to be one of the leading Egyptian fintech platforms, announces the first close of its Series B round “with a $31 million investment led by CommerzVentures, Middle East Venture Partners (MEVP), and Arzan Venture Capital.” Invenfin, National Investment Company (NIC) as… Read More

October 31, 2022 @ 8:48 pm By Omar Faridi  |  

Visa (NYSE: V), which claims to be the world’s leader in digital payments, announced plans to open a state-of-the art Innovation Center in Riyadh, Saudi Arabia “at the Future Investment Initiative.” The facility, that will be operational by the end of 2023, is “being built… Read More