Dubai

Watch Out for These 7 Homegrown Robo-Advisory Platforms in the Middle East

Robo-advisory platforms in the Middle East are quickly taking off, with a number of local players having recently joined the onrush. Robo-advisory platforms provide users with financial advice and portfolio management solutions through algorithms. These algorithms churn user data and

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DIFC FinTech Hive Graduates Largest Ever Cohort Since Launching Five Years Ago

Dubai’s DIFC FinTech Hive saw its largest cohort graduate from its accelerator since the launch of the free zone in 2017 A total of 44 startups graduated from DIFC FinTech Hive’s acceleration programme at a virtual Investor Day, the largest

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India’s Cashfree Becomes Majority Holder in Telr With US$15m Investment

India-based payments and API banking solutions company Cashfree has picked up a majority stake in UAE and Saudi Arabia-based payment service provider (PSP) Telr for US$15 million. The strategic investment will enable Cashfree to launch its offerings across the MENA

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Going “Beyond Banking” in the UAE: Report

Banking solutions that go beyond traditional services are going to be an “important battlefield” for banking in the UAE. A new report by Arthur D. Little and M2P analysed responses from about 2,000 UAE retail bank customers to determine how

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VentureSouq Announces US$50m MENA FinTech Fund I

GCC-based early stage venture capital firm VentureSouq has officially launched a US$50 million MENA FinTech Fund I. The MENA FinTech Fund I is the first sector-specific fintech fund to be launched across the MENA-Pakistan region, a statement from the firm

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Crypto and BNPL Are Top Middle East Fintech Trends: Visa Report

Over 80% of consumers in the UAE and Saudi Arabia reported that they would be willing to use crypto and buy now pay later (BNPL) services, according to Visa’s CEMEA COVID-19 Impact Tracker. This interest in what are relatively new

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Sarwa Launches Zero Commission and Transfer Fee Trading Platform

Personal finance and investment platform Sarwa has officially launched Sarwa Trade. The platform allows users to trade stocks and Exchange Traded Funds (ETFs) without commissions, international transfer fees or a minimum account balance, according to a statement. The solution provides

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The 5 Fastest Growing Fintech Companies in the UAE in 2021

Fintech companies in the UAE have bagged a number of wins this year, with local fintechs accelerating growth. Competition is heating up in the digital banking space, as well as in several sub-verticals of the payments space. Meanwhile, cryptocurrency is

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Financial Data Concerns Rise Amongst Digital Shift in the GCC

Illegal data collection and financial data theft have become major concerns amongst GCC consumers, according to a new report. The Ding Global Prepaid Index (GPI), a bi-annual global study by mobile top-up service Ding, found that GCC consumers are uneasy

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Tiger Global Leads US$12m Series A for Tarabut Gateway

Dubai-headquartered open banking startup Tarabut Gateway has raised US$12 million in a pre-Series A fundraise, the company announced in a statement today. The round was led by Tiger Global. It was joined by new backers Dubai International Fintech Fund, an

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