UAE: Pakistan’s first digital bank among startups to join Hub71 Abu Dhabi – News


The new cohort has already raised more than MAD 231 million in funding

Published: Wed, May 18, 2022, 1:00 PM

Last update: Wed, May 18, 2022, 1:04 PM

Pakistan’s first digital bank is among 16 new startups to join the growing community of Hub71, Abu Dhabi’s global tech ecosystem.

By launching its operations in Abu Dhabi, the new cohort of startups, which have already raised more than 231 million dirhams in funding, will have the opportunity to develop cutting-edge technologies and access the market, investments and talents provided by Hub71.

Badr Al-Olama, Acting CEO of Hub71, said, “Our first cohort of the year reflects our ambition to match our pace with that of the global tech startups that have the highest growth potential.

The accepted cohort includes early-stage startups from FinTech, HealthTech, EdTech and other sectors with diverse representation from major international tech hubs including the UK, US and South Korea. Among the cohort is Pakistan’s first digital bank, TAG, Trade Capital Partners, based in the United Arab Emirates – a platform that improves access to working capital for startups and small and medium enterprises in emerging markets and Zywa – the first neobank for teenagers in the Mena region. .

“What makes Hub71 so different is our founder-centric approach that emphasizes building leaders and teams to support exponential startup growth,” Al-Olama said.

Letswork, an app founded by the United Arab Emirates that allows members to book workspaces and work remotely from hotels, cafes, coworking spaces and other unique locations, as well as Ostaz, which offers a private tutoring platform for students. accelerate academic progress.

“We believe in nurturing talent, and entrepreneurs in this cohort seem eager and ready to unleash their potential,” Al-Olama added.


Hub71 is Abu Dhabi’s largest startup community and the new cohort will benefit from its acceleration program, structured programs to boost investment potential and a new range of flexible incentives that allow founders to choose the level of support based on their start-up needs.

Since its creation, Hub71 startups have raised 1.5 billion dirhams of investments and closed contracts worth 36 million dirhams through the partner companies of the technological ecosystem, while generating approximately 1 2 billion dirhams in revenue.


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