Best finance startups in the Arab world
What are the best finance startups in the Arab World? What services do they provide? What makes them unique? Read the Details Here!
Best finance startups in the Arab world
Financial startups and companies are critical because they provide platforms and marketplaces for assets and money, allowing businesses to access capital and individuals to stabilize their financial status. Today’s article will list the best finance startups in the Arab World.
Beehive
Dubai-based Beehive launched the UAE’s first peer-to-peer (P2P) lending platform in 2014, connecting companies seeking financing directly with investors. Since its inception, it has helped about 800 companies receive loans worth about AED 907 million from 15,000 investors.
Paymob
Founded in Egypt in 2015, Paymob offers a suite of financial technology solutions for online and offline merchants to accept payments from their customers. The payment gateway can connect to a website or mobile app for online merchants using an API. Paymob offers a POS solution for offline merchants to accept in-store card payments.
Rasan
Rasan is the technology company, Saudi Arabia’s first insurance technology platform. It allows retail customers to compare coverage and premiums and select and pay for their chosen policy at once through an instant policy.
Tarabut Gateway
Tarabut Gateway is one of the largest regulated open banking platforms connecting banks to a regional network of fintech companies through a universal application programming interface. The platform allows third-party financial service providers to develop new applications and access financial data and services, enabling banks to accelerate partnerships while reducing costs.
Sarwa
Sarwa is a UAE-based investment platform that offers individuals low-cost, diversified portfolios and access to on-demand investment professionals. The company claims to have more than 20,000 users of its platform. In 2021, it launched Sarwa Trade, a trading platform for individual clients in the UAE that offers zero commission and transfer fees for dirham accounts.
Expensya
Expensya is a Tunisian-French startup offering an expense management platform to simplify expense reporting. The company’s platform automates accounting, simplifies the management of professional expense reports, and provides secure dematerialization. More than 400,000 customers use the company’s services.
Foodics
Foodics is a food and beverage technology startup from Saudi Arabia founded in 2014 to provide a retail management platform and cloud-based point of sales for retailers in the MENA region. It processes more than five billion orders through its platform, over 50,000 terminals, and serves over 10,000 brands.
Telr
Telr is a payment gateway provider founded in 2014. The startup offers tools and APIs that allow users to accept and manage online payments, mobile, and social media. The platform processes payments in various currencies and 30 languages, and supported services include Mastercard, Visa, UnionPay, American Express, PayPal, Apple Pay, Sadad, STC Pay, and Mada.
Bit Oasis
BitOasis is the largest cryptocurrency platform serving individual customers in the Gulf Cooperation Council countries and has plans to expand into the broader MENA market. The startup allows investors and traders to exchange and trade twenty cryptocurrencies and currently operates in Saudi Arabia, UAE, Kuwait, Oman, Bahrain, Jordan, Egypt, and Morocco.
Pay Tabs
Pay Tabs is a startup company that provides a payment acceptance and management system for e-commerce operators, startups, and online businesses. It processes multi-currency transactions securely and reliably. With an API plugin, Pay Tabs facilitates integration so merchants in various industries can use innovative features, such as plug-and-play on their websites.
Final Words
The financial startups and companies are the primary drivers of the Arab World’s economy, providing a free flow of liquidity and capital in the marketplace. These top ten startups have gained a significant reputation for their unique financial products and services. Until Next Time!
- Article based on personal opinion, experience and research.
- Photos from Unsplash & canva.
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