Dubai’s Financial Hub Invests in Four FinTech Startups

(Bloomberg) --

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.

FlexxPay, Go Rise, NOW Money and Sarwa received pre-series A to series A funding, DIFC said in a statement. “More applications will be evaluated and further investments will be made by the fund to be announced within a short period.”

Dubai Financial Hub to Start Fund to Invest in FinTech Startups

Selected Companies

• FlexxPay: “A cloud-based B2B FinTech employee benefits platform allowing instant access to earned income”
• Go Rise: “A holistic and seamless financial services platform for 250 million global migrants”
• NOW Money: “Provides payroll services to Gulf-based companies, and app-based accounts with physical debit card and remittance options for each of their lower-income workers”
• Sarwa: “A robo-advisory wealth management firm”

NOTE: UAE FinTech Startup Tabby Raises $7 Million for Expansion

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