Tarabut Gateway, a Dubai, United Arab Emirates-based Open Banking platform, raised $25m in two rounds in eight months.
These include:
- a seed round of $13M led by the Dubai International Fintech Fund, the Investment Vehicle of Dubai’s International Financial Center (DIFC).
- pre-series-A funding round of $12M led by Tiger Global.
Led by Abdulla Almoayed, founder and CEO, Tarabut Gateway provides solutions that allow financial institutions and fintechs to leverage Open Banking to scale their businesses across the region. A licensed Account Information Service Provider (AISP) and Payment Initiation Service Provider (PISP) in the Middle East & North Africa (MENA) region, the company connects a regional network of banks and FinTechs via a universal application programming interface (API). It is already a dedicated technology partner for the leading banks in Bahrain. In October 2020, Tarabut Gateway expanded its presence in MENA, establishing offices in Abu Dhabi and Dubai.
Tarabut Gateway has offices across Bahrain, UAE and United Kingdom.
Abdulla Almoayed has over 15 years of investment experience across various sectors, especially focusing on digital transformation of the MENA region. He is an advocate for putting data ownership into the hands of the consumer and increasing access to financial services through emerging technologies.
FinSMEs
02/11/2021