Archive

UAE’s Fintech Galaxy Raises US$2m For Open Finance Platform

Fintech Galaxy has raised US$2 million in a seed round, according to a recent statement. The funding round was led by Jordan-based Ahli Fintech, with participation from Raz Holding Group, OMQ Investments, Egypt’s EFG EV Fintech and INSEAD Saudi Angel

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Is Branch Banking a Thing of the Past in the UAE? – Fintech Surge 2021

The death of branch and traditional banking was a top theme at the Digital Banking Summit – Fintech Surge 2021. Held at Dubai World Trade Centre, the conference saw a number of panels featuring founders, executives, regulators and fintech experts,

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The 5 Digital Banks in Saudi Arabia You Need to Know

Digital banking in Saudi Arabia is at a particularly interesting junction right now. Much has been said about how the country is at the precipice of a banking revolution, but the results have perhaps been slow to show. There’s a

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Super App Careem Is Stepping Into Payments

In June last year, Careem became one of the earliest super apps to debut in the Middle East. Just months into the pandemic, CEO and Co-founder of the company Mudassir Sheikha announced the launch on Twitter. “Excited to launch the

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Halo Investing Bags Over US$100 Million Series C, Plans to Set up Office in the UAE

Halo Investing, a Chicago-based multi-issuer technology platform for protective investment solutions, announced that it has raised over US$ 100 million in Series C funding. The latest fundraising round was led by Owl Capital and included the Mubadala-backed US$ 1 billion

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MEA Fintech Weekly News: Are Neobanks the Next Big Thing for Nigeria?

This week marked a new win for digital banks in Nigeria. Neobank Sparkle raised US$3.1 million in a seed round for expansion efforts (TechCrunch). Founded by former CEO of Diamond Bank Uzoma Dozie, Sparkle provides both individual and business banking

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DIFC and CBUAE to Develop Joint Fintech Initiatives

The Central Bank of the UAE (CBUAE) and the Dubai International Financial Centre (DIFC) will be partnering to promote fintech development in the UAE. The two financial authorities have signed an agreement to collaborate over joint fintech initiatives and activities.

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6 UAE Digital Banks to Watch Out For

Digital banking is becoming increasingly competitive in the UAE, with new players, new banking models, and an eager market. Studies indicate that 72% of UAE residents use digital banking services at least once a week, with nearly a fourth using

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9 Upcoming Fintech Events to Attend in Dubai and Abu Dhabi

The UAE is one of the top trending regions for fintech in the Middle East, aside from Bahrain and Saudi Arabia. Newer companies are emerging, and funding is making its way through. Fintech funding in H1 2021 represented the highest

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MEA Fintech Weekly News: Nigeria to Closely Scrutinise Fintech Startups

In last week’s MEA fintech news, the Central Bank of Nigeria (CBN) has once again hinted that it will be keeping a close watch on fintech startups in the country. At a recent seminar, Director of the Banking Supervision Department

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