UAE’s YAP secures $41m to support continued expansion
Start-up says the funding will support expansion into Saudi Arabia, Pakistan, Ghana and Egypt.
UAE
Digital challenger Zand lands banking licence from UAE central bank
The newly-licensed bank marked the occasion by welcoming its first corporate customers.
Dubai’s Careem acquires money transfer platform Denarii
Careem plans to offer “simple and affordable international remittance services” through its super-app.
YAP expands into Pakistan with EMI licence approval
YAP Pakistan hopes to address the challenges consumers face in the foreign remittance market.
EMEA funding round-up: Cashew, Stanhope, Elucidate, Spades, Sun Zu Lab & sqft.capital
A handy round-up of the recent funding endeavours of fintech companies across EMEA.
UAE neobank Wio hires Salem Al Nuaimi as chair and Jayesh Patel as CEO
The hires at Wio follow the digital bank’s licence approval by the Central Bank of the UAE.
ICYMI funding round-up: Estateguru, SaaScada, tell.money, Cheq, GMEX & Bluezone
A handy round-up of the recent funding endeavours of fintech companies across the globe.
Middle East and Africa fintech funding round-up: Zenda, Pemo, Afriex & Laboremus
Our weekly fintech round-up for you to get the latest funding news from the Middle East and Africa.
UAE’s Mashreq Bank launches paytech subsidiary Neopay
The new wholly-owned subsidiary will consolidate all of Mashreq’s existing payment systems into a single platform.
Al Fardan Exchange and Thunes partner for instant payments to 87 countries
Al Fardan Exchange customers can make payments to 87 countries in Europe, Africa, APAC and LatAm.
BNPL platform tabby raises $54m in Series B extension round
The cash will go towards expanding its product offering and supporting its international expansion.
Digital bank Wio set to launch in UAE following central bank approval
The digital bank will initially cater to the country’s SMEs, with a beta launch expected in Q1 2022.
Mashreq Bank implements ThetaRay’s transaction monitoring tech for correspondent banking
Mashreq Bank is Israel-based ThetaRay’s first customer in the UAE.
Accenture, SIA, and G42 to build instant payments platform for UAE
Led by Accenture, the consortium will build and operate the platform over the next five years.
Crypto platform Rain rakes in $100m in Series B funding
Rain’s $110m Series B funding round was co-led by Paradigm and Kleiner Perkins.
First Abu Dhabi Bank appoints Suhail Bin Tarraf as group COO
Suhail Bin Tarraf joins from Emirates Islamic Bank, where he was COO for five years.
New UAE-based fintech Verity secures pre-seed funding ahead of app launch
The $800,000 round comes ahead of a planned launch in UAE later this year.
Singapore and UAE conduct first cross-border digital trade document transfer
Singapore’s TradeTrust enables counterparties and banks to validate documents digitally.
UAE neobank Edfundo launches to teach children financial literacy
Edfundo says it is on a mission to help 8 to 18-year-olds become financially literate.
Pedro Sousa Cardoso returns to Emirates NBD as new chief digital officer
Cardoso joins from Standard Chartered, where he worked as a senior managing director.
BIS finds CBDC-blockchain combo outclasses correspondent banking
Its new project, mBridge, experiments with new CBDC combinations.
UAE challenger Zand prepares for launch in both retail and corporate markets
New bank aims to break into an already crowded sector.
UAE-based BNPL provider tabby lands $50m Series B funding
The round takes the company’s valuation up to $300 million.
Lune launches UAE’s first personal finance management app
The company is aiming to improve financial literacy in the region.
Singapore start-up Bambu acquires investment and trading wealthtech Tradesocio
Bambu plans to tap into Tradesocio’s presence across EMEA and India.
Mashreq Bank picks Comarch wealth management platform
UAE bank seeks levelling up for wealth clients.
Mastercard and Visa pick new partnerships to drive biometric payments
Mastercard partners with FinGo following Visa’s deal with ADIB.
BNPL firm Zip extends acquisition spree, buys up Twisto and Spotii
The Australian firm has spent $105 million on its new buyouts.
Abu Dhabi Islamic Bank picks FIS Open Payment Framework
UAE-based bank seeks to capitalise on customers paying digitally.
Mashreq takes Oracle components around existing Flexcube core
Mashreq Bank is seeking to improve its transaction banking proposition.
Blockchain compliance firm Securrency raises $30m in Series B round
The new injection will help Securrency’s expansion in the UAE and the US.
Emirati tycoon Mohamed Alabbar to chair UAE challenger Zand
Zand is still waiting on its application for a full UAE banking licence.
Stripe takes first step into Middle East with UAE expansion
Digital payment transactions in the UAE during 2020 reached $18.5 billion.
Policybazaar raises $75m to power Middle East expansion
Indian insurance firm aims to sell $1 billion in contracts by 2022.
Emirates NBD chief digital officer leaves to pursue entrepreneurship
Evans Munyuki resigns after brush with COVID-19.
YAP throws hat into UAE’s digital banking ring
The start-up’s partner is National Bank of Ras Al Khaimah.
ICYMI funding round-up: Zolve, Symple Loans, Butn, FunGuard & more
We highlight a series of funding rounds that may have passed you by.
Anglo-Gulf Trade Bank signs for Fenergo client lifecycle tech
UAE-based bank picks vendor to aid its onboarding processes.
NymCard raises $7.6m for Banking-as-a-Service in MENA
The Series A funding round brings NymCard’s total investment to $12 million to date.
Pyypl’s regulation-first approach to MENA starts to pay off
“The options today are mobile money or banks,” says CEO.
