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More fintech startups come to Abu Dhabi

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Hub71 startup community Abu Dhabi welcomed 16 new members on Thursday. According to the press release, here are some of the startups that will now be part of the UAE capital’s business hub:

  • Trading Capital Partners — An Abu Dhabi company raising funds for small businesses.
  • he is still alive — A money management app designed for teens in the United Arab Emirates (UAE).
  • start to work — A service that allows users to book workspaces in the UAE, Bahrain and Portugal.
  • Label — Pakistan’s digital banking mobile app.

Hub71 is a network and Workspace for startups in Abu Dhabi.It is backed by Abu Dhabi’s sovereign wealth fund exchangeMicrosoft, etc.

In total, the new startups have raised more than $62 million in funding, according to the press release.

Why it matters: The UAE is looking to attract more startups and entrepreneurs to the country.Earlier this year, the Gulf state decided to overhaul its tax system to partially reduce operating expenses Attract new companies. Dubai Economic Zone also launched Artificial Intelligence Licensing Program Attract AI companies.

Emirates has had some success in attracting new talent.Several cryptocurrency platforms have Announced Initiatives For example, go to the UAE this year.

understand more: Fintech, also known as FinTech, is particularly important in the UAE. In February, Abu Dhabi investment company ADQ Get permission Create a new digital banking platform.



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