Tagged: uae

February 14, 2023 @ 9:27 pm By Omar Faridi  |  

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

January 25, 2023 @ 6:17 pm By Omar Faridi  |  

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

January 22, 2023 @ 10:47 pm By Omar Faridi  |  

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

January 6, 2023 @ 6:51 pm By Omar Faridi  |  

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

January 4, 2023 @ 10:17 pm By Omar Faridi  |  

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

December 29, 2022 @ 9:56 pm By Omar Faridi  |  

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

December 23, 2022 @ 3:19 pm By Omar Faridi  |  

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

December 22, 2022 @ 9:42 pm By Omar Faridi  |  

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

December 14, 2022 @ 11:05 pm By Omar Faridi  |  

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

December 11, 2022 @ 10:51 pm By Omar Faridi  |  

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

December 6, 2022 @ 11:26 am By JD Alois  |  

Recently global investment platform OurCrowd announced that it had topped $2 billion in capital commitments on its platform. OurCrowd is based in Israel but caters to a global market of both investors and private firms in need of growth capital. When the milestone was announced,… 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 21, 2022 @ 8:29 am By Omar Faridi  |  

The Abu Dhabi Investment Office (ADIO) Innovation Program is partnering with Fintech company Liquidity Group, the “first” Israeli company “to join the AED 2 billion (USD 545 million) program.” The partnership will “support Liquidity Group’s establishment of an R&D center in Abu Dhabi to develop… 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 @ 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 16, 2022 @ 9:05 am By JD Alois  |  

In partnership with the Abu Dhabi Investment Office (ADIO), OurCrowd has announced the launch of a global artificial intelligence (AI) hub.  Based at Abu Dhabi Global Market (ADGM)  Hub71, the AI hub has been named Integrated Data Intelligence Ltd (IDI) and will develop easily adoptable… 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 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

October 18, 2022 @ 7:03 pm By Omar Faridi  |  

Wio Bank PJSC, the region’s first platform bank, has announced a partnership with Stripe, a financial infrastructure platform for businesses, which will “enable SMEs in the UAE to access the power of e-commerce faster and more easily and conveniently.” Through this partnership, Wio Business, the… Read More