Emirati-founded fintech, Lune, secures USD850k pre-seed funding to accelerate expansion in MENA

Emirati-founded fintech, Lune, secures USD850k pre-seed funding to accelerate expansion in MENA

Dubai, United Arab Emirates – Lune – a UAE-based data start-up co-founded by Helal Tariq Lootah, an Emirati entrepreneur, and Alexandre Soued – today announced it has successfully raised USD850,000 in its pre-seed round backed by Dubai Future District Fund (DFDF), Flat6Labs, and several angel investors. The company, which unlocks unprecedented insight from consumers’ financial transactions, already operates across the UAE, Saudi Arabia and Bahrain and will leverage the cash infusion to scale across the entire GCC by the end of the year.

“While the region’s Banking and Finance Institutions are innovating at breakneck speed, the lack of detailed visibility into transactional data presents a formidable barrier to the sector. This lack of visibility prevents consumers from effectively taking control of their spending, and BFSIs from introducing or enhancing services based on customer preferences,” explained Lootah.

Lune is the region's first data start-up entirely focused on democratising financial data and enabling institutions to empower the communities they serve. Using proprietary artificial intelligence to convert raw customer payment and transaction data into valuable data points, the company is enabling BFSIs to provide more curated, high-value financial services. The technology is localised to the MENA region, considering data points ranging from regional brands to