HomeBlogTop 5 Fintech Companies in the UAE

Top 5 Fintech Companies in the UAE

March 15, 2024

Table of Content:

    Top 5 Fintech Companies in the UAE article cover image

    In recent years, The United Arab Emirates has become a global hub for fintech companies. With its business-friendly environment, strong infrastructure, and strategic location bridging the East and West, it’s no wonder why the UAE attracts fintech innovators. 

    In this article, we want to highlight five fintech companies to watch out for that standout in the UAE's fintech ecosystem. All of these companies are outstanding in different ways, and we’ve listed them in no particular order.

    1. Telr

    Telr is a payment gateway solutions provider based in Dubai, established in 2014. It caters to SMEs, government entities, and large corporations with its proprietary platform that handles various payment methods and integrations.

    Telr has received several awards, including Best Payment Product in the Middle East in 2015 and Innovative Vendor — Fintech at the 2017 GEC Awards in Dubai.

    The company operates in the UAE, Saudi Arabia, and India, allowing businesses to transact in over 120 currencies and offering services like social commerce integration, QR Code payments, anti-fraud protection, shopping cart integrations, and digital invoicing.

    Telr is the first PCI DSS Level 1 certified company in the MENA region, adhering to the highest payment security standards set by the Payment Card Industry Data Security Standards Council.

    • Established: 2013
    • Funds Raised: $13.9 Million
    • Series: A

    2. BitOasis

    BitOasis, co-founded in 2015 by Ola Doudin and DanielRobenek, operates a cryptocurrency exchange platform that has been a pioneering driver of digital currency adoption across the Middle East, North Africa and Turkey region. Based in Dubai, their platform allows retail and institutional users to buy, sell and trade major cryptocurrencies like Bitcoin, Ethereum, Litecoin and others.

    They prioritize security through measures like cold storage of crypto assets. BitOasis' intuitive platform and range of offerings like OTC trading have made it popular in the region.

    • Established: 2015
    • Funds Raised: $30 Million
    • Series: Unknown

    3. NymCard

    NymCard is revolutionizing the payment landscape in Africa and the Middle East. With its cutting-edge issuer processor platform, NymCard empowers banks and financial institutions to launch digital payment solutions. Through its 150+ APIs, clients can seamlessly launch prepaid cards, multi-currency wallets, charge and credit cards, and the increasingly popular Buy Now Pay Later services.

    In regions where payment card penetration has historically been low, NymCard's platform equips financial institutions with the tools to bridge this gap. Leveraging powerful open APIs and Mobile SDKs, clients can swiftly introduce plastic, virtual, or tokenized cards to mobile end-users, potentially within just 8 weeks.

    • Established: 2018
    • Funds Raised: $36.1 Million
    • Series: A

    4. Huspy

    Born in 2020 and headquartered in Dubai, the UAE, Huspy is challenging traditional norms by infusing technology and innovation into the real estate industry. 

    This innovative fintech firm is shaking up the consumer lending space in the UAE. They provide individuals with access to transparent and affordable personal loans through their digital platform. Huspy utilizes non-traditional data sources and machine learning to evaluate loan applicants more comprehensively.

    • Established: 2020
    • Funds Raised: $47 Million
    • Series: A

    5. Tabby

    Tabby has pioneered the buy-now-pay-later (BNPL) concept in the UAE and broader Gulf region. Their platform allows online shoppers to split their purchases into interest-free installment plans at checkout from partnered retailers. This provides consumers with greater flexibility and affordability.

    Powering the growth of over 30,000 global brands and small businesses, Tabby's technology has become the driving force behind customer acquisition and loyalty. Retail giants such as H&M, Adidas, IKEA, SHEIN, and Bloomingdale's use Tabby's innovative solutions

    Tabby's footprint extends across markets in the Middle East, including Saudi Arabia, the UAE, Egypt, and Kuwait, where its services have gained significant traction.

    • Established: 2019
    • Funds Raised: $1.7 Billion
    • Dept Funding

    What attracts fintech companies to the UAE?

    The UAE has cultivated a favorable environment for fintech companies to flourish. The government has established clear regulations and licensing for fintech firms, allowing them to operate in Free Zones and beyond, with policies like permitting 100% foreign ownership.

    Significant funding is available from the UAE's sovereign wealth funds, state-backed investment arms, and venture capital firms. For instance, the Dubai Future District Fund has allocated over AED 1 billion specifically for investing in startups.

    The UAE's advanced infrastructure, logistics connectivity, and tax-free environment attract top fintech talent and companies globally. Government accelerators like Dubai's FinTech Hive support fintech startups through incubation, mentorship, and partnership opportunities.

    Open a Fintech Company in Dubai

    If you are looking to establish a fintech company in the UAE, our team can assist you with setting up your business there.

    Consider our IT company setup service, which will help you get your operations up and running in Dubai's IFZA Free Zone. We'll handle all the necessary licenses for software development, ensuring you're fully compliant and ready to go within 60 days.


    Online platform for business registration in the UAE


    +971 52 184 1181
    © 2024 UPPERSETUP Technology Ltd. All content on this site is protected by copyright
    Send Telegram messageSend WhatsApp message
    Get a consultation