DIFC FinTech wins global recognition

Business Bureau, Gulf Today

DIFC FinTech Hive, the first and largest financial technology accelerator in the Middle East, Africa and South Asia (MEASA) region, has been named one of ‘World’s Best Innovation Labs’ by Global Finance for 2021.

Now in its fourth year, the annual report on the leading players and emerging trends in FinTech innovation is one of the most credible references in the industry, assessing labs run by banks, governments, venture capitalists, NGOs, and universities across the world.

Commenting on this milestone, Raja Al Mazrouei, Executive Vice President of DIFC FinTech Hive, said: “It is an honour that Global Finance recognises DIFC FinTech Hive’s work in FinTech innovation including us on the list of the World’s Best Innovation Labs in 2021. This accolade is a testament to our commitment in bringing together the best partners, the best minds and the best technologies under one roof to drive forward the digital revolution, not just in Dubai, but across the wider region.

“We are looking at taking FinTech Hive to the next level and have planned a full pipeline of initiatives to attract even more world-class players in the financial sector. Being identified as amongst the world’s best innovation labs will support our efforts in delivering the future of finance,” added Al Mazrouei.

To date, DIFC FinTech Hive has already raised US$ 300 million in funds, created hundreds of jobs and supported over 100 startups across the region.

DIFC FinTech Hive is committed to supporting businesses in FinTech, InsurTech, RegTech and Islamic FinTech, looking to capitalise on untapped opportunities for multi-faceted growth.

Dubai International Financial Centre (DIFC) is one of the world’s most advanced financial centres, and the leading financial hub for the Middle East, Africa and South Asia (MEASA), which comprises 72 countries with an approximate population of 3 billion and a nominal GDP of USD 7.7 trillion.