PayTabs Group, a leading payment infrastructure provider in the MENA region, has been honored as a Future 100 Company during a prestigious event at the St. Regis Saadiyat in Abu Dhabi. The accolade was presented by the UAE Ministry of Economy, in collaboration with the Minister of State for Government Development and the Future, recognizing...
The United Arab Emirates is actively enhancing its fintech sector, which currently accounts for 8.7 percent of the country’s GDP. The UAE aims to increase this contribution to 12 percent by 2031, highlighting the fintech sector’s critical role in promoting sustainable economic growth and innovation across various industries. Abdulla bin Touq Al Marri, the UAE’s...
Hubpay, a cross-border payments platform, has partnered with Aquanow to launch the UAE’s first fully regulated crypto payments facility designed specifically for businesses and SMEs. This innovative collaboration enables various sectors, including real estate, manufacturing, and general trading, to accept cryptocurrency payments securely alongside traditional fiat transactions. Aquanow ME FZE is regulated by Dubai’s Virtual...
Flow48, a fintech start-up based in the UAE, has successfully raised $69 million in a combination of debt and equity funding during its Series A round, which was led by the Parisian venture capital firm Breega. The funding round also included notable participation from Evolution Ventures, Endeavor Catalyst, Daphni, Speedinvest, 212, and Plus VC. This...
Egypt-based fintech company MNT-Halan has announced its expansion into the UAE, marking a significant growth phase for the unicorn startup. Co-founder Mounir Nakhla emphasizes that the company has only begun to tap into its full potential, highlighting the mission to redefine financial access for millions. Founded in 2018, MNT-Halan originally launched as a ride-hailing platform....
Dubai’s financial hub, the Dubai International Financial Centre (DIFC), has officially recognized USDC and EURC as approved crypto tokens under its regulatory framework. This makes them the first stablecoins to receive such approval within the DIFC, according to an announcement by Circle Internet Group, Inc., a leading global fintech firm. The Dubai Financial Services Authority...
Omnispay, a fintech company based in the UAE, has successfully raised $1.5 million in a seed funding round led by Mercatus Capital Pte. Ltd., a Singapore-based venture capital firm. This funding round attracted participation from various regional and international investors and aims to empower small and medium-sized enterprises (SMEs) with an all-in-one platform for collecting,...
Veefin Solutions, a well-known company that makes digital supply chain finance technology, has teamed up with Invest Bank, one of the best banks in the UAE. The goal of this partnership is to completely digitize Invest Bank’s Supply Chain Finance (SCF) services, swapping out the old paper-based methods for a more modern digital platform. Businesses...
Checkout.com, a prominent global digital payments company, has announced the launch of Visa Direct’s Push-to-Card solution, becoming the first acquirer in the UAE to do so. This new service facilitates both cross-border and domestic transactions, enabling merchants and consumers to conduct real-time money transfers efficiently The Visa Direct platform connects over 190 markets and offers...
Qme, a B2B SaaS startup based in Egypt, has successfully raised $3 million in a seed funding round led by AHOY, a multisector technology company. AHOY was joined in this investment by a group of angel investors from the Gulf Cooperation Council (GCC). The funding aims to advance Qme’s AI-driven platform, which addresses inefficiencies in...