Hubpay, the first startup licensed in the United Arab Emirates to provide Electronic Money Services, has announced the expansion of its cross-border remittance offering along with launching a ‘Hubpay for Business’ payments solution.
Hubpay is a fast-growing technology company that provides digital payments solutions for consumers and small to medium size businesses in the MENA region focusing on world-class customer care and competitive pricing.
Hubpay launched a mobile App in 2020 and was one of the first in the United Arab Emirates to have an innovative, fully-digital account opening process. With the Hubpay App, customers can conveniently open an account and safely remit money to India, Pakistan, the Philippines, and Bangladesh within minutes.
“There are 3 key factors to making payments in the MENA region; payment security, payment speed, and transaction cost. We built Hubpay to optimise all 3 factors and will continuously do so to give the best customer experience to our retail and business customers,” says Punit Ghumra, VP Finance.
Building on the success of the company’s remittance mobile App, Hubpay has recently expanded remittances from the UAE to over 40 additional countries including the UK, Canada, South Africa, Ghana, Kenya, Tanzania, Nigeria, Nepal, Indonesia, and countries across the EU.
“Our strength is leveraging deep expertise from world-leading financial institutions to drive FinTech ecosystems forward; opening up innovation that benefits both consumers and companies. This year we look forward to helping C-level Executives, Finance and Treasury teams optimise their company’s bottom line with our Corporate products,” says Marjolein van Paridon, COO of Hubpay.
Hubpay’s new international payments solution for businesses has a fair and transparent pricing structure. Clients can open a Hubpay account and begin trading in less than thirty minutes. Hubpay’s onboarding, operations, and customer care teams prioritise service excellence and are based in-country.
Founded in 2018 by Kevin Kilty, Hubpay is an international digital wallet that enables customers to make secure local and cross-border payments. At the start of 2022, Hubpay raised a $20 million Series A fundraising round, led by Signal Peak Ventures, joined by Olive Tree Capital and BECO Capital, and supported by early-stage backers Stormbreaker, Emkan Capital and Aditum.
