FinTech | Page 4

Open banking, and at a wider level, open finance, provides the necessary environment for banks, fintech companies, and innovation players to successfully develop the future of banking in Saudi Arabia.

Zenda, a UAE-based startup aiming to ease how parents in MENA pay school bills with pay-now and pay-later options, has raised US$9.4 million in an oversubscribed seed round.

By becoming an intermediary in the traditional insurance payment cycle, Klaim is addressing a financial issue that has long been plaguing healthcare providers in the MENA region: delayed and/or rejected claim payments.

Studio Launchpad stems from the DIFC's efforts to achieve its Strategy 2030 goals, which aim to attract the best minds and companies from across the world to Dubai.

The 2022 edition of the Global Entrepreneurship Congress (GEC 2022), which was held in Riyadh, Saudi Arabia from March 27-30, 2022, was able to secure a total of US$13.8 billion of investment to promote entrepreneurial activity in the Kingdom.

With the investment, Souqalmal plans to execute a growth plan over the next 24 months.

As consumers become more digitally minded, so do businesses, provoking companies to innovate and deliver fintech solutions across industries such as banking, telecommunications, retail, and insurance.

With the program, Cashee can access capabilities within Visa's global network, as well as boosts its roll out to offer a digital payment solution to youth in MENA.

At the end of Q3 2021, there were 206 fintech unicorns around the world, each worth over US$1 billion; 119 of these fintech unicorns were minted in the first nine months of 2021 alone.

The program is on the lookout for startups with products that offer payment and commerce solutions to consumers and businesses.

Dibsy, a homegrown Qatar fintech enterprise, was founded on the premise of making processing online payments as simple as possible.

Powered by Fintech Saudi, the special report, An Ultimate Guide To Fintech In The Kingdom Of Saudi Arabia, uncovers first-mover advantage opportunities in the kingdom's fintech industry.

GCC-based venture capital firm VentureSouq has announced the launch of its US$50 million venture fund to focus on fintech early-stage entities across the MENA region and Pakistan.

Lamaa, a Riyadh-based fintech startup, has raised a seed investment in a round led by Raed Ventures and Saudi Aramco's entrepreneurship arm Wa'ed.

With its new capital, the team aims to accelerate its growth by ramping up customer acquisition, continuing to build their features, and growing the global remote team.

The app has a waitlist of over 10,000 users from across the Middle East, which was opened last March to test the region's appetite for the commission- free online trading app sector.

Operating in KSA and UAE, Tamara offers consumers with two main products on its website and app: they get to either pay for the item they buy in 30 days, or to split payments for it into three or six instalments.

National Fintech Adoption Survey by Saudi Central Bank and Capital Market Authority developed a clear understanding of how the fintech industry supports individuals and companies.

"We hope Xare plays a pivotal role in helping shape a future world- a fairer financial world, a world which is more compassionate, and a world where more people are able to help each other out."

We want to get a feel for how the COVID-19 crisis impacted your fintech business in the Middle East--this survey should take just five minutes of your time.

If you are a fintech entrepreneur, and you're looking to get your story out there in front of global and regional investors, partners, and key stakeholders in the fintech ecosystem, this is your chance.