The 5 Fastest Growing Fintech Companies in the UAE in 2021

The 5 Fastest Growing Fintech Companies in the UAE in 2021

Fintech companies in the UAE have bagged a number of wins this year, with local fintechs accelerating growth.

Competition is heating up in the digital banking space, as well as in several sub-verticals of the payments space. Meanwhile, cryptocurrency is seeing growing acceptance in the country, while ecommerce has emerged as a key driver of fintech adoption, including in newer trends such as buy now pay later (BNPL).

An earlier report suggested that the UAE has over 400 fintech companies, and aims to become one top five fintech hubs across the world by December 2023. In fact, nearly half of all fintech companies in the MENA region are based in the UAE, the report said.

In this context, a handful of companies have emerged as the fastest growing fintech companies in the UAE. Here are the ones to know.

Fastest growing fintech companies in the UAE

BitOasis

Industry: Cryptocurrency

BitOasis is a Dubai-headquartered crypto exchange founded in 2015. Users can access over 20 cryptocurrencies on the platform for free, and 10 additional currencies through the pro version. Currencies currently supported on the platform are the UAE dirham and the Saudi riyal.

BitOasis received its Financial Services Permission (FSP) from the Financial Services Regulatory Authority (FSRA) just in May