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PayPal has partnered with Dubai's Ignyte to enhance support for startups and small businesses in the UAE, facilitating efficient payment management and cross-border transactions. This collaboration aims to empower entrepreneurs with access to resources, mentorship, and tailored financial solutions, fostering a robust digital economy. Ignyte, part of the Dubai Digital Economy Strategy, aspires to assist 100,000 startups in scaling internationally, positioning Dubai as a global hub for innovation and entrepreneurship.
Emirates NBD has partnered with BlackRock to create an investment platform that will provide wealth clients in the UAE access to private market investments, traditionally reserved for institutional investors. This initiative aims to broaden access to alternative investments, with an initial focus on income and growth strategies. BlackRock will leverage its expertise and resources to support Emirates NBD Asset Management's expansion in this rapidly growing sector.
Lumi AI has secured $3.7 million in seed funding to enhance its self-service data analytics platform, aimed at transforming how brands and retailers leverage ERP data. The investment, led by AgFunder, will support the growth of engineering and customer success teams, accelerating feature development for clients across various industries with complex supply chains. CEO Ibrahim Ashqar emphasizes the mission to democratize access to intelligence and improve decision-making at scale.
Dubai's Code & State has raised $3 million to advance stablecoin technology, aiming to incubate startups that address challenges in payments and compliance. With a projected market cap growth to $1.5 trillion in five years, the venture studio emphasizes founder equity and support for innovators in the stablecoin space.
Dubai's Code & State has raised $3 million to advance stablecoin innovation, aiming to incubate startups that address challenges in payments and compliance. With stablecoin adoption surging, the venture studio is positioned to significantly impact the digital currency landscape, predicting a tenfold market cap increase to $1.5 trillion in five years.
Presight has launched an AI Startup Accelerator in the UAE, offering up to $200,000 in support to AI-driven startups, with applications open until April 10, 2025. The six-month program provides market access, mentorship, and financial resources to help startups scale their innovations across 15 countries.Meanwhile, UAE-based fintech enza has raised $6.75 million to enhance Africa's digital payments landscape, focusing on financial inclusion through its cloud-native technology. Additionally, Yango Group has introduced a $20 million venture fund, Yango Ventures, aimed at empowering early-stage startups in emerging markets, including MENA, by providing capital and strategic support.
Paul Arni, former CEO of VP Bank, has joined WRISE Singapore as a non-executive director, effective immediately. He will guide the firm's corporate strategy, governance, and risk management, emphasizing the importance of robust governance in wealth management. WRISE Group is expanding its presence in Asia, having recently launched offices in Shenzhen and Dubai.
Emirates NBD has partnered with BlackRock to create an investment platform aimed at providing wealth management clients access to private markets, traditionally limited to institutional investors. The initiative will focus on private credit and multi-alternative investments, leveraging BlackRock’s extensive Alternative Investments platform, which manages over $450 billion in assets. This move responds to increasing demand for portfolio diversification and higher returns amid global market challenges.
Warner Bros. Discovery is investing $57 million to acquire a minority stake in Dubai-based OSN Streaming Ltd., enhancing its regional presence and local content production. This partnership builds on existing collaborations, including an exclusive licensing deal for HBO content since 2022. With a young, tech-savvy population and rising disposable incomes, the Middle East is becoming a competitive market for streaming services, where OSN faces challenges from global platforms like Netflix and Amazon.
Code & State, a Dubai-based venture studio, has raised $3 million to foster stablecoin innovation, backed by Warburg Serres and KR1. The funding will support startups focused on real-world stablecoin adoption and blockchain financial solutions, as the market is projected to grow tenfold, exceeding $1.5 trillion in five years. The initiative aims to provide mentorship and infrastructure to entrepreneurs, positioning the UAE as a leader in digital finance.
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