Tarabut Gateway secures a record-breaking $13mn Seed round

SectorFinancial Markets

Tarabut Gateway, the region’s first and largest Open Banking platform, has secured $13million – making it the largest FinTech seed round in MENA history. Tarabut Gateway, which has offices in Abu Dhabi, Dubai, London and Manama, reported that the funding will support it in scaling its team and expanding regionally. Investment into the innovative Open Banking platform, is led by Target Global, the leading Berlin based venture capital firm. Tarabut Gateway has also received the backing of other investors including Kingsway, CE Ventures, Entrée Capital, Zamil Investment Group, Global Ventures, Almoayed Technologies and Mad’a Investment. The announcement follows Tarabut Gateway’s recent expansion into the UAE in October 2020. The business reveals that it will use the funding for further geographic growth and the development of its current product offerings. CEO and founder of Tarabut Gateway, Abdulla Almoayed, said: “The Open Banking industry is a catalyst for transforming the way banks and FinTechs in the region interact with one another....read more...