23 C
Dubai
Tuesday, January 21, 2025
spot_img

Abu Dhabi fintech Pyypl raises $20 million in Series B funding round

[ad_1]

Abu Dhabi-based fintech startup Piper Raised $20 million in Series B funding from new and existing investors.

The company said the total investment in the latest round is close to $40 million. The funding will be used for expansion in the Middle East and Africa (MEA), as well as for product development and new capabilities that add to the company’s proprietary technology.

The company, which is based in Abu Dhabi’s global tech ecosystem Hub 71, which provides financial services including non-bank payment services, said it has quadrupled its number of users since its Series A funding round in 2021.

According to a statement, it has entered into key partnerships with Visa, Ripple and Binance.

Love this story” contenteditable=”false” data-new-ui=”true” data-explore-now-btn-text=”undefined” data-group-icon=”https://images.yourstory.com/assets/ images/alsoReadGroupIcon.png” data-headline=”1254 people love this story”>

“We welcome our new investors and thank our existing shareholders for their further investment to support our journey to financial inclusion,” said co-founder and CEO Antti Arponen.

Pyypl said it aims to serve the 800 million financially underserved smartphone users in the MEA region through virtual and physical prepaid cards, user-to-user transfers, and remittances.

Related Articles

Manifesting Success: The Journey of Bijay Kumar Sahoo and His Startup Revolutionizing Content Creation

In a world overflowing with content, finding something that inspires, educates, and entertains can feel like discovering a diamond in the rough. That’s precisely...

Grace Global (Cleome): Simplifying Skincare for Busy Lives

In a world where modern life is a whirlwind of work, family, and personal commitments, self-care often takes a backseat. Enter Cleome, a skincare...

Anton Pankratov: A Visionary Journey into Innovation and Impact

Anton Pankratov: A Visionary Journey into Innovation and Impact At UAE Times, we are privileged to showcase leaders who are not only shaping industries but...

Robofun Lab: Empowering the Next Generation of Innovators

Imagine a classroom where students don’t just memorize formulas but build and program robots that bring those concepts to life. That’s the vision driving...

Adhyaant: Empowering Lives Through Ancient Wisdom and Modern Guidance

In a world that's constantly changing, staying grounded and connected to one's true self can often feel like a challenge. For Minal Dalal, founder...

Latest Articles