Compared to more established and larger fintech markets like the United Arab Emirates (UAE) or Saudi Arabia, Bahrain has a smaller and more modest fintech ecosystem, with about 115 active fintech companies.
But despite its relatively nascent stage, Bahrain has managed to foster the growth of several fintech firms that have gained significant prominence.
Today, we take a look at some of its largest and most influential fintech companies, highlighting the ventures that have significantly contributed to the innovation of the Bahraini financial services industry.
For this list, we focus on private, independent fintech companies headquartered in Bahrain, excluding those that have been acquired or are affiliated with major banks, telecom providers, or established entities, such as Ila Bank, which owned by Bank ABC, Beyon Money, which is part of the Beyon Group, as well as the Benefit Company, which was established by the country’s top banks. This approach aims to provide a clear picture of Bahrain’s homegrown fintech innovators and trailblazers.
Top fintechs in Bahrain
Eazy Financial Services
Eazy Financial Services, also known as EazyPay, is a prominent Bahraini financial institution specializing in point-of-sale (POS) systems and online payment gateway acquiring services.
Established in 2016 and licensed by the Central Bank of Bahrain (CBB), the company provides a range of secure, fast and simple payment solutions for businesses, including POS acquiring services and online payment gateways that support debit/credit cards, BenefitPay, Apple Pay, and Binance Pay. It claims it is also the first and only licensed acquiring financial institution supporting cryptocurrency payments for in-store and online payments in the entire Middle East and North Africa (MENA) region.
In 2024, EazyPay processed US$4.2 billion in transactions in Bahrain, with approximately 7,800 POS machines and 12,284 active users, according to Forbes. The company currently operates in Bahrain and Switzerland, but plans to expand into the Gulf Cooperation Council (GCC) and Europe this year.
EazyPay was named one of the top 50 fintech companies in the Middle East for 2025 by Forbes, recognized as a leading innovator in the region’s digital financial services landscape. It’s valued at US$300 million.
CoinMENA
Founded in 2021, CoinMENA is a licensed cryptocurrency service provider regulated by the CBB. Its sister company, CoinMENA FZE, is licensed as a broker-dealer virtual asset service provider by Dubai’s Virtual Assets Regulatory Authority (VARA) and serves residents of the UAE.
CoinMENA allows users to buy, sell, send, receive, and store digital assets safely and securely, as well as deposit and withdraw in their local currency. The company promises competitive fees, high liquidity, and an educational approach, aiming to deliver the simplest and most trusted digital assets trading platform in the MENA region.
CoinMENA currently supports more than 50 digital assets and claims over 1.5 million registered users. The platform is available to users from seven countries, including Bahrain, the UAE, Saudi Arabia, Kuwait, Oman, Qatar, and Egypt. To date, CoinMENA has transacted US$2 billion.
Like EazyPay, CoinMENA was named one of the top 50 fintech companies in the Middle East for 2025.
Rain
Founded in 2017, Rain is a crypto brokerage and custodian servicing the MENA region. Licensed by the CBB, the platform supports over 70 cryptocurrencies, allowing users to buy, sell, swap and track their portfolio performance. It adheres to strict cybersecurity and banking standards, offering secure management of digital assets through its proprietary offline Cold Storage system.
Rain also provides a private and personalized service through its OTC Desk for large digital asset transactions.
Rain claims 1.3 million customers, US$4.7 billion in volume, and 4 million transactions to date. In 2024, Rain was shortlisted for a local license in Turkey and is now in the application process.
Rain was also named one of the top 50 fintech companies in the Middle East for 2025 by Forbes.
Aion Digital
Founded in 2017, Aion Digital is a provider of digital banking solutions, serving banks and financial institutions. The company provides a digital platform that supports financial services brands in creating and delivering unique digital banking services to their customers.
This platform allows banks to offer innovative banking services on the go, enabling them to go digital with speed, certainty, and assured return on investment (ROI). It leverages more than 500 banking application programming interfaces (APIs) and comes with flexible and modular solutions that are designed to enhance core digital capabilities, as well as ongoing digital banking evolutions. These solutions include digital onboarding, retail and corporate digital banking, as well as artificial intelligence-driven personalization.
Aion Digital claims its solutions have driven significant results, with banks signing up more customers via its digital platform than all branches combined, higher average deposit per customer, 70% reduction in acquisition costs, and a three times increase in cross-selling.
Currently, the company is building five digital banks in GCC and has signed up 12 mandates across the UAE, Kuwait and Bahrain. It claims to be serving a total of 10 million end-users across the Middle East and Africa (MEA).
Aion Digital is a brand of Waqfe, a fintech company specializing in digital banking transformation using open banking, APIs, and AI, and which helps banks create better customer experiences, gain more agility, and remain competitive in the digital era.
Flooss
Founded in 2021, Flooss claims to be the first digital instant financing company in Bahrain. The company, which is licensed by the CBB, offers a fully digital, Sharia-compliant financing solution that eliminates paperwork and long approval processes. It strives to offer affordable financial solutions for citizens and residents in Bahrain, with the aim of enhancing their financial well-being and promoting the growth of the country’s retail sector.
With Flooss, financing is instant and hassle-free, with money credited directly to the user’s bank account or STC Pay wallet. The application process is simple, requires minimal documentation, and is 100% digital, requiring no physical visits.
As a Sharia-compliant service, Flooss operates on a transparent Murabaha-based model with fixed profit margins between 16% and 18%, and customers can apply for financing anytime and anywhere, with flexible options ranging from BHD 100 (US$265) to BHD 1,500 (US$3,980) and repayment terms of up to 18 months.
Besides digital lending, Flooss also offers services such as buy now, pay later (BNPL) arrangements, bill payments, as well as device financing through partnerships with the likes of Batelco and Channels by STC.
Featured image credit: edited from freepik
