Dubai International Financial Group (DIFC) has established a $100 million fintech-focused fund to invest in start-ups from incubation through to growth stage.
Dubai has been actively promoting its credentials as an international hub for fintech startups in the Middle East, Africa and South Asia region, signing co-operation deals with other global hubs, launching an accelerator scheme and creating a regulatory sandbox environment.
The latest initiative is geared towards attracting more fintech startups to set up shop in the UAE city.
Essa Kazim, governor of DIFC, says: “We are launching a new $100 million fund to help establish, grow and upscale start-up and growth stage fintech firms looking to access the MEASA markets. The fund will leverage the DIFC’s fintech ecosystem consisting of attractive experimental licenses, market leading pricing and collaborative spaces. There is immense opportunity in this market, and this will be one more step towards shaping the future of finance in the region.”