Dubai
MBRIF Alumni Direct Debit Marketplace Launches to Facilitate Recurring Payments
UAE fintech Direct Debit Marketplace has launched a platform to allow merchants to accept direct debits for recurring payments such as for school fees, gym memberships, and subscription-based services. The platform is integrated with UAEPASS, the UAE’s national digital identity
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Digital Banking Adoption Soars in the UAE
In the United Arab Emirates (UAE), rapid digital adoption brought about the COVID-19 pandemic has accelerated the continued interest in digital banking solutions, prompting mass adoption of neobanking services as a way to access funds, make transactions and manage personal
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UAE-Based Payments Startup Ziina to Expand Digital Wallet Offering to Jordan
UAE-based payments start-up Ziina has announced plans to expand to Jordan. The company previously launched their digital wallet in February 2022 and their payment keyboard earlier this month. The Y-Combinator-backed company previously raised USD 9 million during a seed round in mid-2021
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Emirates Development Bank Now Offers up to AED 5 Million in Loans on Its App
Emirates Development Bank (EDB) announced a new lending feature offered in partnership with peer-to-peer (P2P) lending platform Beehive that allows SMEs to apply for loans of up to AED5 million (US$1.36 million) directly through its digital banking app and receive approval
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Fintech Leads UAE Startup Funding
In H1 2022, fintech was the preferred industry for startup investors in the United Arab Emirates (UAE), accounting for 34% of total capital during the period and 22% of transactions, a new report by Magnitt and the Emirates Development Bank
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Dubai Proptech Platform Stake Raises US$8 Million in Pre-Series A
Dubai-based digital real estate investment platform, Stake, secured over US$8 million in an oversubscribed pre-series A funding round. This follows a US$4 million seed round the company closed back in June 2021, bringing their total raised funds to over US$12
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MENA’s Teen Neobank Zywa Raises US$3 Million Seed Round
Zywa, a teen-focused fintech startup aiming to re-imagine banking for Gen Z in the Middle East and North Africa, has announced a seed funding round of $3 million. Investors who participated in the round include Goodwater Capital (the largest consumer
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Mashreq Appoints New Head of Marketing and Corporate Communications
Mashreq has appointed Muna Al Ghurair, as its new Group Head of Marketing & Corporate Communications. She brings over 20 years of experience in communications, marketing, sales and business development with an outstanding track record with leading payments and financial
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Emirates NBD Launches Accelerator for Metaverse Startups to Transform the Future of Banking
Emirates NBD has launched a global accelerator programme for metaverse start-ups to enhance customer experience for the new virtual economy, in partnership with the DIFC Fintech Hive and powered by technology provider Microsoft. Marking Emirates NBD’s first play in the metaverse,
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PayRemit Partners With IDnow Middle East for AI-Powered Customer Onboarding
PayRemit, the mobile e-commerce app which allows lower income workers to shop and pay in installments, has selected DIFC-based IDnow Middle East to provide automated identity verification to onboard its customers. Through this agreement, PayRemit will deploy AutoIdent which is
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