$100M fund invested by Dubai’s DIFC-The Financial Hub in four FinTech Start-Ups

DIFC’s reinforces the commitment as the investment, which is a part of its $100m FinTech Fund as far to assist establishing as well as upscale fintech companies, to drive developments in the Economic services sector.

Dubai International Financial Centre (DIFC) has invested for Four fintech start-ups FlexxPay, GoRise, NOW Money, and Sarwa, by means of its accelerator programme, that was introduced recently on June 8.

The investment, quantity about its $100m FinTech Fund according to assist set up and upscale FinTech companies, reinforces DIFC’s dedication in conformity with power developments into the Economic services sector.

Arif Amiri, Chief Government officer, DIFC Authority stated that: “Our position as one of the global pinnacle people FinTech hubs is bolstered through working investments in start-ups such as much those we hold introduced today. The DIFC FinTech Fund accelerates the improvement regarding impactful FinTech firms, adoption to them a step similarly towards capitalising concerning the strong increase possibilities reachable within the region. Through investing yet presenting the region’s just comprehensive platform, we may force innovation across MEASA’s financial services sector.”

The DIFC FinTech Fund invested in “FlexxPay”, a cloud-based B2B FinTech worker benefits tribune allowing get entry to after earned income; “Go Rise”, a start-up constructing a Financial function platform because 250 million global migrants, support them in obtaining right of entry to Financial merchandise into domicile as well so domestic country; “NOW Money” providing payroll applications to Gulf-based companies, and app-based debts along bodily minus card yet mission choices because every over their lower-income workers; or “Sarwa”, a robo-advisory Wealth administration firm.

Michael Truschler, CEO of FinTech Establishment FlexxPay stated that “They are grateful in order to obtain the trust or self assurance out of DIFC’s FinTech Fund, and they seem forward according to imparting our features as like a technological know-how company in accordance with the wider commercial enterprise community into the region. We extremely consider as between the near future every person wish bear get right of entry to after their earned income every time they want.”

“FlexxPay brings such a journey after agencies yet their employees lately after construct a truly international corporation along real have an impact on about society yet the overall economy of a country.”

Padmini Gupta, CEO of FinTech Establishment Go Rise noted: “We are truly very elated up after partnering with DIFC or MEVP among building a special international migrant banking platform. Migrants within the GCC achieve $150bn a year or we are helping them higher control up to expectation earnings via partnerships together with institutions locally then of migrant domestic countries. Migrants characterize one over the region’s biggest assets or into Go Rise we necessity to construct the world migrant monetary purposes leader.”

Ian Dillon, co-founder of FinTech Establishment NOW Money stated further that “They are esteemed to welcome DIFC in accordance with the NOW Money household or look onward in conformity with dividing extra of our tie-up all through 2020.”

Mark Chahwan, CEO of the fourth and final FinTech firm Sarwa added: “Sarwa originated of the DIFC, namely one concerning the organizations among the preceding band about the DIFC FinTech Hive and utilized to be the initial one to be granted an Innovation Testing License. Today, Sarwa strives on its growth path as well its further build up process yet again with the assistance and ample support of DIFC. They are delighted according to hold such a crucial partner/investor to that amount that they were with us from beside the initial developmental stages. This is a testament in conformity with the crux team’s powerful job in accordance with achieving a clever investing reachable in accordance with the territory. They are continually enhancing our features and adding recent merchandise in conformity with our current compelling list to support all of us build a better future.”

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