Dubai International Financial Centre (DIFC), an international business hub in the Middle East, Africa and South Asia (MEASA) region, has invested in four fintech start-up companies as part of its $100m fund, created in 2019.
The start-ups who applied for funding were evaluated by the DIFC FinTech Fund and more applications are being evaluated and further investments will be made by the fund soon.
The four companies are FlexxPay, a cloud-based B2B fintech employee benefits platform allowing instant access to earned income; Go Rise, a unique start-up building a holistic and seamless financial services platform; Now Money, which provides payroll services to Gulf-based companies; and “Sarwa, a robo-advisory wealth management firm.
“The DIFC FinTech Fund accelerates the development of impactful FinTech firms, taking them a step further toward capitalising on the strong growth opportunities available in the region. Through investing and providing the region’s most comprehensive platform, we can drive innovation across MEASA’s financial services sector,” Arif Amiri, Chief Executive Officer at DIFC Authority, said.