Dubai is constantly ranked among the many world’s main Fintech hubs. Fintechs in Dubai have been supported by the UAE (United Arab Emirates) authorities which has launched many progressive insurance policies and rules.
In statements shared with the Khaleej Occasions, Arif Amiri, CEO on the Dubai Worldwide Monetary Middle (DIFC), acknowledged:
“We’ve been able to build the region’s most comprehensive offering for fintech firms. Over 160 Fintech companies now operate from the DIFC. [We remain] committed [to] investing in start-ups through our $100 million Fintech fund. We invest to … drive sustainable economic growth for Dubai.”
The $100 million Fintech fund has been launched to assist develop and scale the operations of native startups, which incorporates early-stage Fintechs searching for entry to key markets within the MENA and Asian markets.
Sarwa. a Robo-advisory wealth administration firm based mostly within the Center East, claims it has seen 4x occasions progress since April 2020.
Mark Chawan, CEO at Sarwa, acknowledged:
“Our plan is also to develop more product offerings, between goals-based investing and employee workspace schemes,”
“The [funding we’ve received] will allow us to scale and reach a bigger audience as well as expand to other markets in the region…[We’re planning to] grow [our workforce] – specifically the tech team – in order to continue providing a unique onboarding customer experience.”
UAE’s Fintech agency FlexxPay, a supplier of a cloud-powered B2B worker advantages platform, says it plans to proceed to assist folks achieve early entry to their earned wags.
“You earned it, you can access it. This will have a very positive effect on the overall economy / GDP of a country. Money is put to work earlier, the money multiplier effect comes into play.”
Michael Trüschler, CEO at Flexxpay, remarked:
“Covid-19 forces companies (and society) to digitally transform. Many companies knew that they had to digitize their businesses and processes but were reluctant to invest or simply took too much time. These are the companies that suffer now. Covid-19 is a sort of catalyst or accelerator forcing companies to take the necessary steps immediately to survive and grow in the current (new) reality.”
London-based Checkout.com, a serious world fee resolution supplier and Fintech unicorn, has tripled its valuation to $5.5 billion, after a latest $150 million Collection B spherical.
Checkout has reportedly teamed up with greater than 500+ retailers prior to now yr, together with Careem, Farfetch, Seize, Klarna, Remitly, Revolut, Robinhood, Farfetch, amongst many others.
Sebastian Reis, EVP world e-commerce at Checkout.com, acknowledged:
“Dubai is well-known as a global financial center… Fintechs are boosting the economy, creating jobs, increasing transparency, and increasing efficiency for all stakeholders. At Checkout.com, we have seen first-hand how the UAE fintech sector is thriving and are proud to help power its growth.”