“We Got Funded!” Bahrain-Headquartered Tarabut Gateway Raises US$32 Million In A Series A Round

“We Got Funded!” Bahrain-Headquartered Tarabut Gateway Raises US$32 Million In A Series A Round

Tarabut Gateway, a Bahrain-headquartered open banking platform, has raised US$32 million in a series A round led by Pinnacle Capital, a Saudi Arabia-based alternative investment firm.

Tarabut Gateway's Series A round also saw the participation of Aljazira Capital, a Saudi Arabia-based Shari'ah compliant financial services firm; Tiger Global, a US-based investment firm focused on global Internet, software, consumer, and fintech sectors; and Visa, a US-headquartered global digital payments tech platform. Following this funding round, Visa and Tarabut Gateway also entered into a strategic partnership that will allow both entities to collaboratively work towards developing new products and solutions that use open banking capabilities.

Launched in 2019, Tarabut Gateway offers open banking application program interfaces (APIs) that promise secure and instant flow of money as well as financial information across a network of banks and fintech companies in the region.