UAE As A Springboard For Growth – Entrepreneur

UAE As A Springboard For Growth – Entrepreneur

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Given that it's a part of Indian fintech unicorn Yubi, one would expect that digital collections company Spocto could easily enter any market in the world. And that factor speaks volumes for the appeal of the UAE as a market, in that the Yubi management chose the Arab nation to be the home for Spocto's very first international office. "The UAE leads the MENA fintech market, making the nation an ideal springboard for Spocto's global expansion ambitions," states Gaurav Kumar, founder and CEO, Yubi.

The Spocto team

Kumar says that his belief in the UAE stems from it being home to world-class financial centers like Dubai and Abu Dhabi, and over 50 onshore commercial banks, as well as a constantly evolving legal and regulatory system, and the region's highest financial inclusion rate at 46%. However, zooming in onto one part of the UAE fintech market -its debt ecosystem- Kumar shares data that seems even more promising for the Spocto platform, which is designed to help lenders collect and reduce loan default rates, fully via digital channels. "The MENA's digital lending platform market was valued at US$551.81 million in 2021, and it is