Archive
Saudi Fintech Startup Hakbah Secures USD 1.2 Million Seed Funding
Hakbah platform, a Saudi-based fintech startup that specialises in alternative savings and savings groups, announced the closure of its seed round with a value of USD 1.2 million (SAR 4.5 million). Details of the investors were not disclosed. The startup
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Bahrain Islamic Bank Announces Winner for BisB Innovation Challenge
Bahrain Islamic Bank (BisB) announced that Verofax, a Malaysian-based asset digitisation and traceability services provider, as the winner of its ‘BisB Innovation Challenge’. The bank had collaborated with the FinHub 973, Central Bank of Bahrain’s digital lab for this fintech
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Saudi Fintech Tamara Raises US$ 6 Million in Largest Seed Funding Round in the Kingdom
Tamara, a Saudi-based buy now pay later platform, announced the closure of its seed funding round with an investment of 22.5 million Saudi riyals (US$ 6 million) led by the Impact46 Venture Capital Fund. The startup reported that this is
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SH Capital Ltd Launches in Dubai to Empower SMEs With Global Banking Services
A new digital treasury services management provider SH Capital Ltd (SHC), launches in Dubai today with a mission to empower small and medium sized enterprises (SMEs & MMEs) by offering world class global banking services, asset management, FX hedging solutions,
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Mambu Partners Ta3meed to Provide Digital Islamic Financing Solutions for SMEs
SaaS banking platform Mambu and Ta3meed, an Islamic fintech in trade finance in Saudi Arabia, announced a strategic partnership to deliver Islamic fintech financing solutions for SMEs in the region. With this partnership, Mambu’s agile core banking technology will be
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Banking and Fintech Predictions for Middle East in 2021
COVID-19 has created a sea change across the financial services sector with respect to remote work and a push for digitisation. The financial sector experienced the most disruption, with an accelerated innovation roadmap that saw manual processes including account opening,
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Abu Dhabi Investment Office Establishes 8 Global Hubs
The Abu Dhabi Investment Office (ADIO) has established eight new offices in Tel Aviv, New York, San Francisco, Frankfurt, London, Paris, Beijing and Seoul. The global network of offices, in collaboration with the Abu Dhabi Department of Economic Development (ADDED),
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Ethiopia, Ghana and Rwanda Among Africa’s Fastest-Growing Fintech Ecosystems: Report
South Africa, Nigeria and Kenya have historically been the fintech hubs of Africa, but the next chapter for the industry in the continent will likely come from new, fast-growing ecosystems, including Ethiopia, Ghana and Rwanda, according to a new report.
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Bahraini Crypto Startup Rain Financial’s $6 Million Funding Round Joined by Coinbase
Rain Financial Inc, a licensed cryptocurrency platform and custodian, announced that it had raised $6 million during a Series A funding round. The round was led by Middle East Venture Partners (MEVP), a venture capital firm in the Middle East,
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Visa Study: Contactless Payments in the UAE Here to Stay
Visa’s third edition of its global research study, “Visa Back to Business Study – 2021 Outlook”, found that both the continued small and micro business’ (SMB) shift towards digital commerce and changing consumer payments habits embracing digital payments in the
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