DIFC
The fintech universe is getting a lot of attention from specialist funds, and DIFC's dedicated $100m fund has picked up stakes in four. Image Credit: Gulf News Archive

Dubai: The Dubai International Financial Centre has picked up equity stakes in four fintech startups, and forms part of the $100 million fund it launched last year.

The four businesses are FlexxPay, (a cloud-based employee benefits platform) Go Rise (which is building a financial services platform for 250 million global migrants); NOW Money (offering payroll services to Gulf-based companies); and Sarwa (a robo-advisory wealth management firm.)

“Our position as one of the world’s Top 10 fintech hubs is strengthened by making investments in start-ups such as those we have announced today,” said Arif Amiri, CEO of DIFC Authority. “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.”

The four start-ups had applied for funding and selected after a comprehensive review. More applications will be evaluated and further investments will be made by the fund.