UAE traffic alert: Multi-vehicle accident on key Dubai road. This move is expected to see the rise of various fintech services, creating increased competition and choice for consumers. The UAE – represented by Abu Dhabi and Dubai as financial centres - may only now be appearing on the global industry’s radar as emerging Fintech hubs, but the ambition of both cities cannot be discounted. Dubai based Rise, a fintech startup focusing on democratizing access to essential financial services for the modest-income migrant population in the GCC, has raised a seven-digit investment. FlexxPay, Go Rise, NOW Money and Sarwa received pre … HQ: Dubai, UAE. Sudhesh Giriyan Industry Insight /Dubai Filed on May 20, 2017 | Last updated on May 20, 2017 at 09.33 pm Millions of Chinese consumers use digital payment technologies for everyday transactions. The fintech startup’s aim is to make essential financial services available to all. The investment reflects the DIFC’s commitment to driving the future of finance and is part of the $100 million FinTech Fund launched in 2019 to help establish, grow and upscale start-up and growth-stage FinTech companies seeking access to the MEASA markets. Rise, a Dubai-based fintech that provides financial services to low-income migrants in Gulf (and recently raised $1.4 million in a round led by the Middle East Venture Partners) has teamed up with one of Pakistan’s leading ecommerce platform HomeShopping.pk to launch a buy now pay later service for overseas Pakistanis residing in the United Arab Emirates. How the UAE can build on the rise of FinTech during the pandemic In an era of rapid digitisation, the banking sector must continue to innovate to remain agile and lead by example The amount of commercial office space in Dubai is likely to grow by 5 per cent to 9.18 million square metres by next year, according to KPMG. Find out who's who in fintech. Such an increase suggests that the worldwide usage of FinTech … Rise is a Dubai-based fintech startup whose stated mission is to democratise access to essential financial services for the modest-income migrant population in the GCC. With its Rise platform, Kayan Labs is far from being the only startup looking to tap into the region’s massive pool of unbanked expats and migrant workers. The start-up is in the process of applying for licences in the UAE, Indonesia and the Philippines, though currently none of these countries’ regulations allow fintechs to become fully fledged banks. The new dawn: How the rise of fintech is transforming the Middle East Glesni Holland August 3, 2018, 12:10 pm August 3, 2018 The last few years have seen a sharp increase in the number of fintech startups establishing a presence in the region, which many put down to the benefits of its location and private investment appeal. Dubai International Financial Centre (DIFC) has announced an investment of $100 million in the FinTech space. DIFC’s FinTech fund aims at establishing, upscaling and enhancing growth for the startup/growth-stage FinTech companies … We use Klout scores to rank influencers. Discover the social media influencers among us.Each week The fintech Power 100 recognises the most inspiring social media accounts so you can follow them, join the community and learn more. MILKEN INSTITUTE THE RISE OF FINTECH IN THE MIDDLE EAST 3 THE RISE OF FINTECH IN THE MIDDLE EAST An Analysis of the Emergence of Bahrain and the UAE Jackson Mueller and Michael S. Piwowar FinTech regulatory regimes started emerging in the Gulf region1 in 2017. To demonstrate this, Dubai International Finance Centre (DIFC) recently launched its FinTech Hive accelerator, hot on the heels of Abu Dhabi Global Market (ADGM) unveiling its new fintech sandbox. Type: Fintech. Dubai International Financial Centre invested in four financial technology startups as part of the business hub’s $100 million fund to help companies seeking access to Middle East, Africa and South Asia. Padmini Gupta’s Dubai-based Fintech Firm Rise, which Helps Low Income Migrant Workers, Secures New Investments Dubai and UAE Economy Expected to … UAE FinTech platform Rise, which offers financial products and services for modest-income migrants, raised over $1 million (Dh3.67m) to expand within the GCC. Jingle Pay, a Dubai-based digital banking fintech, is launching in the United Arab Emirates (UAE) later this year. A lot of major fintech experts are moving to Dubai for investment especially because the growth in the region has proven that the industry’s potential is on a … The rise of fintech prompts… The GCC, or Gulf Cooperation Council (Saudi Arabia, the United Arab Emirates, Qatar, Bahrain, Kuwait and Oman) has many advantages as a tech market. The start-up’s funding round was led by San Francisco-based Class 5 Global, which also backs newly-launched Abu Dhabi open banking fintech Dapi. 9. rise. Ranked as one of the world's top accounting networks, we have some 700 partners, 6500 staff and 350 offices in more than 90 countries. Founded: 2016. Home » Dubai’s Rise raises $1.four million funding to supply monetary companies to low-income migrants in Gulf Dubai-based fintech has closed an funding spherical led by the Center East Enterprise Companions and joined by Dubai Worldwide Monetary Middle (DIFC) Fintech Fund, 500 Startups (MENA), Saudi’s Khwarizmi Ventures, and Phoenician Funds. Dubai International Financial Centre (DIFC) has invested in four FinTech start-up companies. Dubai-based Rise, a FinTech startup focusing on democratizing access to essential financial services for the modest-income migrant population in the GCC, has announced that the company has raised a seven-digit investment.The fundraising was led by Middle East Venture Partners (MEVP) in partnership with Dubai International Financial Centre (DIFC) FinTech Fund, 500 Startups, Khwarizmi … The Rise Of Islamic Fintech Breakfast Buzz, hosted by FinTech Hive at DIFC, creates a monthly forum that stimulates and encourages discussions on the latest FinTech trends and developments. And, of the world’s top 100 leading Fintech cities, almost half are in emerging markets. DIFC Authority chief executive Arif Amiri said the rise in the number of registrations was a reflection of the DIFC’s commitment “to reinforcing Dubai’s position as one of the world’s top ten fintech hubs”. Russell Bedford International is a global network of professional services firms providing accounting, audit, tax and consulting services. Rise has raised $1.4 million in an investment round led by the Middle East Venture Partners.In participation with Dubai International Financial Center (DIFC), Fintech Fund, 500 Startups, Saudi’s Khwarizmi Ventures, and Phoenician Funds.. Ziina, a Dubai-based fintech, has landed $850,000 in a pre-seed round and launched its social peer-to-peer (P2P) payment app, MENAbytes reports. The investment through its FinTech fund, established in 2019, has been directed towards four startup FinTechs namely FlexxPay, Go Rise, NOW Money and Sarwa. MENA: 23 March 2020: Dubai-based Rise, a fintech startup focusing on democratizing access to essential financial services for the modest-income migrant population in the GCC, has announced that the company has raised a seven-digit investment.The fund raise was led by Middle East Venture Partners (MEVP) in partnership with Dubai International Financial Centre (DIFC) Fintech Fund, … Employees: 9+ Migrants matter ‍ ️‍ That’s the ethos behind rise, a business helping to bring essential financial services from their homes and host countries onto one convenient platform. A general view of Dubai International Financial Centre (DIFC) among high-rise towers in Dubai. Padmini Gupta and Milind Singh of rise. The exact amount was not disclosed, as “it becomes distracting to the entire business”, but it was a seven-figure investment, co-founder Milind Singh told The National . Tracing the rise of Fintech, it points to mobile payment apps in China that began as fun and easy ways to send "red envelope" holiday gifts to family and friends on the Lunar New Year, but they have quickly blossomed into an immense industry. It is reported that during the second quarter of 2020, there was a significant increase in the usage of FinTech apps. The Fintech Times sits down with Padmini Gupta and Milind Singh of rise. The news is part of a wider boom in fintech activity in the Middle East. Fintech and the rise of collaboration rather than competition.