Abu Dhabi: Pakistan’s first digital bank among startups to join Hub71

Abu Dhabi: Pakistan’s first digital bank among startups to join Hub71

The new cohort already raised more than Dh231 million in funding

Published: Wed 18 May 2022, 1:00 PM Last updated: Wed 18 May 2022, 1:04 PM

Pakistan’s first digital bank is among the 16 new startups to join the growing community of Hub71 – Abu Dhabi’s global tech ecosystem.

By launching operations in Abu Dhabi, the new startup cohort, which has already raised more than Dh231 million in funding, will have the opportunity to develop advanced technologies and gain access to the market, investment, and talent provided by Hub71.

Badr Al-Olama, acting CEO of Hub71, said, “Our first cohort of the year reflects our ambition of matching our pace with that of global tech startups that have the highest growth potential.”

The accepted cohort includes early-stage startups across FinTech, HealthTech, EdTech and other sectors with diverse representation from leading international tech hubs, including the UK, the US and South Korea. Among the cohort is Pakistan’s first digital bank, TAG, UAE-based Trade Capital Partners – a platform that boosts access to working capital for startups and small to medium-sized enterprises in emerging markets and Zywa – the first neobank for teenagers in the Mena region.

“What makes Hub71 so different is our founder-centric approach that emphasises building