Aleta Planet, a Singapore-based fintech firm, has secured funding from Dubai’s National Pulse to enhance cross-border payment services for businesses in the Middle East. The sum was not disclosed.

The investment, led by His Excellency Mohammad Bin Markhan Al Ketbi, Founder and Group Chairman of National Pulse, will facilitate Aleta Planet’s growth into the UAE, Middle East, and Africa.

Following this investment, Aleta Planet will establish its global headquarters in Dubai, with the Singapore office continuing to support its expansion in the Southeast Asia region.

Aleta Planet, a principal member of UnionPay International, specialises in secure and cost-effective cross-border payment solutions, crucial for SMEs in Dubai.

This development comes on the heels of the UAE’s ongoing efforts to enhance its fintech sector, supported by recent Open Finance Regulations from the Central Bank of UAE.

H.E. Al Ketbi said,

“The innovative and transformative technologies of Aleta Planet are reshaping how cross-border transactions are managed.

Their expertise in handling multi currency transactions will greatly enhance our upcoming digital solutions, set to revolutionise the international trade and digital economy landscape.”

Ryan Gwee, Founder and Group Chairman of Aleta Planet said,

“We are honoured and humbled that H.E. Al Ketbi, with his formidable investment background, is keen to invest in Aleta Planet in Dubai where we will deploy our cross-border, multi-currency payment technology to help global trading in the UAE and the Middle East.

This investment by a savvy investor with deep experience and contacts in the Middle East, will super-charge our efforts to expand B2B payments in the region as well as the global markets of China, Africa and Europe.”

This article first appeared on fintechnews.sg