As the FinTech industry’s advancement continues to accelerate, this partnership between MFTA and FinTech Armenia is creating a dynamic platform cross-bridging industry stakeholders, regulators, and innovators to collaborate on policy advocacy, knowledge-sharing, and ecosystem development. This initiative aligns with both organizations’ mission to drive financial inclusion, enhance regulatory frameworks, and accelerate digital transformation across the MENA, Armenia, Caucasian & International markets.

Strategic Objectives of the Partnership

• Facilitate cross-border knowledge exchange, education and best practices in FinTech innovation.
• Advocate for regulatory harmonization to enable innovation within financial services.
• Co-host industry events, workshops, webinars and policy discussions to drive FinTech adoption.
• Strengthen investment opportunities for FinTech startups and scale-ups in both regions.
• Foster partnerships between FinTech firms, financial institutions, and policymakers.

Nameer Khan, Chairman of the MENA FinTech Association, stated: “Armenia is emerging as an exciting FinTech Hub, and we are thrilled to welcome FinTech Armenia into our network. By working together, we will unlock new opportunities for innovation, regulatory alignment, and economic growth, fostering a more interconnected global FinTech landscape.”

Stefan Lucas, Founding CEO of FinTech Armenia, added: “This partnership with MFTA is a game-changer for Armenia’s FinTech industry. By collaborating with MENA’s leading FinTech ecosystem, we are working on accelerating and cross-bridging innovation and investments – integrating the Armenian FinTech market participants into the global financial ecosystem.”

Driving Regional FinTech Growth
Through this strategic alliance, both organizations are collaborating to bridge regional & international FinTech ecosystems – providing FinTech startups, banks, telcos, insurers, academia and technology providers with unparalleled access to resources, expertise, and market opportunities. The collaboration will also focus on financial literacy and innovation focused initiatives, regulatory workshops, and joint research reports to enhance industry insights.

The partnership’s roadmap will be unveiled in the coming weeks, outlining key initiatives, regulatory dialogues, and industry engagements that will shape the future of FinTech in MENA, Armenia and internationally.

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What inspired you to create Myne, and how does it differentiate itself from other wealth management platforms?
The idea for Myne was born from a conversation with my university friend and now founding investor. We realized our wealth was scattered across multiple platforms, with no user-friendly solution to aggregate everything in real-time. The second reason was the unfortunate loss of a friend, where his wife struggled to map their financial picture—a reality for many loved ones left in the dark during life-changing events. With these challenges in mind and the evolution of fintech, we saw a new opportunity. Myne is the all-in-one platform to track, manage, and protect wealth seamlessly, setting it apart from traditional wealth management solutions.

Can you elaborate on the specific features and tools that Myne offers to help users manage and protect their assets?
Myne integrates seamlessly with bank accounts, allowing users to sync stock and crypto portfolios across multiple wallets. The platform supports multi-currency functionality and offers a bilingual experience in Arabic and English. Our real-time budgeting tools categorize spending, enabling users to set financial goals and monitor performance effectively. Additionally, Myne provides estate planning features to help users secure their wealth for the future. With automated tracking, AI-powered insights, and a user-friendly interface, Myne simplifies financial management, empowering users to make informed decisions with confidence.

How do you plan to utilize the $2 million raised in the pre-seed funding round to scale Myne’s operations and technology infrastructure?
The funding will primarily be used to launch Myne in the UAE and rapidly scale user adoption. We will continue developing our innovation pipeline, ensuring that Myne remains at the forefront of wealth-tech solutions. A portion will go toward hiring key team members across technology, product, and growth. Additionally, we will build our B2B platform, enabling deeper financial integrations for institutions. Lastly, we will begin the preparatory phase for expansion into Saudi Arabia (KSA), ensuring that Myne is well-positioned for future growth in the GCC region.

What are your strategies for user acquisition and regional expansion, particularly in the UAE, Saudi Arabia, and other GCC markets?
Our strategy combines digital marketing, strategic partnerships, and localized outreach. In the UAE, we leverage targeted ads, influencer collaborations, and referral programs to drive organic growth. But we also focus on partnerships to drive herd acquisition, so the plan is  to partner with financial institutions, corporate companies,tech companies  and offer Myne to enhance employees financial wellbeing. Expansion across the GCC will follow a phased approach, with UAE , followed by KSA and potential partnerships to launch in other GCC countries. Our B2B offering will further accelerate growth by integrating Myne’s technology with banks and fintech partners to service family offices , wealth advisors and planners. By addressing region-specific financial needs and regulatory requirements, we aim to become the leading wealth-tech platform in the Middle East.

How does Myne ensure the security and privacy of users’ financial data across its platform?
Security is our top priority. Myne employs strict two-factor authentication, and all data is encrypted at rest and in transit using  TLS protocols. We do not store user credentials, ensuring an additional layer of protection. Myne partners with regulated open banking providers, such as Lean, to securely fetch balance and transaction data, giving users full visibility while maintaining the highest security standards. We continuously update our security infrastructure to mitigate potential risks, ensuring that user data remains private, protected, and accessible only to the account holder.

Looking ahead, what are your long-term goals for Myne, and how do you envision the platform evolving in the next few years?
Our long-term vision is to enhance financial well-being and simplify wealth management for individuals and businesses. We started with asset tracking, budget monitoring, and wealth protection, but the roadmap includes integrating AI-driven financial insights, hyper-personalized dashboards, and predictive financial planning tools. We aim to expand globally, incorporating more financial products and services tailored to diverse markets. By leveraging AI agents and automation, we want to provide users with proactive financial recommendations, helping them optimize investments, minimize risks, and build lasting wealth. Myne is set to become the ultimate financial companion, evolving with users’ needs at every stage of their financial journey.

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The agreement focuses on accelerating the adoption of FinTech through specialized programs managed by Qatar FinTech Hub, the QDB arm responsible for FinTech initiatives. The program will identify key use cases and opportunities that require innovative fintech solutions, and offer the necessary support and guidance to attract and empower promising startups to develop such solutions. The program will also assist startups in accessing markets and navigating licensing processes. QNB will play a crucial role in identifying challenges and opportunities in the fintech industry, providing technical expertise and a secure environment to test these solutions, while exploring investment opportunities in high-potential ventures.

Mohammed Al Emadi, QDB’s Executive Director of Investments and Incubation, said the partnership represents a strategic step forward in the bank’s ongoing efforts to support Qatar’s fintech ecosystem and empower entrepreneurs to develop innovative solutions that align with the rapidly evolving sector and the fintech strategy led by Qatar Central Bank.

“Supporting innovation is a key pillar of QDB’s strategy. We believe in creating an environment that fosters creativity and innovation, particularly in financial technology, where we aim to excel by strengthening integration between financial institutions and startups,” Al Emadi noted.

Adel Al Malki, Senior Executive Vice President, QNB Group Retail Banking, said “At QNB, we are committed to driving innovation and contributing to the development of Qatar’s digital ecosystem. Our partnership with Web Summit Qatar 2025 reflects our shared vision with QDB to advance technological progress and unlock new growth opportunities in local and regional markets across various industries.”

By formalizing this agreement, both parties aim to attract cutting-edge global financial technology solutions, draw international entrepreneurs to Qatar, stimulate investment in startups, increase FinTech adoption, and enhance private sector participation in the ecosystem.

This partnership underscores QDB’s commitment to a comprehensive strategy that supports the digital economy and strengthens the entrepreneurial ecosystem, in line with Qatar National Vision 2030, which seeks to build a diversified, sustainable, and knowledge-based economy. The agreement also aligns with QDB’s strategic focus on digital transformation, empowering the private sector, and developing the entrepreneurial ecosystem—further solidifying Qatar’s position as a regional hub for FinTech innovation.

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With a total investment raise of 7.6 million USD, TeamSec aims to accelerate its growth operations, focusing on rapid expansion in the Middle East and North Africa (MENA) region. Additionally, TeamSec also aims to diversify its product and service portfolio and enhance current service offerings.

Focused on accelerating the financial sector’s digital transformation, TeamSec is driving the creation of a more efficient and transparent financial ecosystem by digitizing securitization processes. TeamSec seeks to create critical value for investors and financial institutions through AI and data analytics-based solutions.

Rasmal Ventures’ Co-Managing Partner, Alexander Wiedmer, said: “TeamSec’s bold vision to revolutionize the securitization industry across the Middle East and beyond resonates strongly with us. Their mission-driven, execution-focused team exemplifies the kind of ambition and innovation we are excited to support. Our investment, alongside Deniz Ventures, reflects our commitment to advance fintech solutions that redefine traditional financial processes. By backing teams like TeamSec, with deep expertise in their field, we aim to accelerate digital transformation and fortify the regional financial ecosystem.”

Commenting on the investment, Ahmed Al Qassim, Group Head of Wholesale Banking at Emirates NBD, said: “We recognize the immense potential securitization holds in supporting regional growth. Our recent strategic investment in TeamSec, a fintech innovator specializing in Securitization-as-a-Service, underscores our commitment to shaping this market and enabling its growth. We are the first investor in TeamSec, supporting the founder and team in their growth journey at an early stage.”

NEOHUB CEO Gürhan Çam highlighted that TeamSec’s technological infrastructure will lay the groundwork for stronger collaborations among financial institutions in the future and contribute significantly to the financial ecosystem. He stated: “Digital transformation in the fintech sector is no longer a luxury but a necessity. As DenizBank and NEOHUB, we aim to address the technological gaps in the field of securitization by collaborating with startups through our investment in TeamSec. We recognize that TeamSec’s innovations in securitization have the potential to set new industry standards.”

Emphasizing the role Emirates NBD’s Corporate Venture Capital arm played in driving this investment, Neeraj Makin, Group Head of Strategy, Analytics, and Venture Capital at Emirates NBD, said: “Emirates NBD’s Innovation Fund drives strategic investments in cutting-edge fintech startups like TeamSec, enabling us to deliver tailored solutions that align with our vision of being the most innovative bank for our customers. As the industry evolves, the fund ensures we stay ahead of disruptive trends while enhancing the digital experience for our clients.”

Esad Erkam Köroğlu, Founder and CEO of TeamSec, highlighted that this strategic investment from Deniz Ventures combined with the VC mindset and experience of the Rasmal Ventures’ team, is a key enabler in achieving the company’s vision: “The investment we received from ENBD and Rasmal Ventures demonstrates the trust placed in TeamSec’s vision and technological prowess by these renowned institutions. At the same time, this investment round supports our mission to revolutionize the securitization market, positioning TeamSec as a leader in the fintech sector as well as in the securitization market, particularly in the MENA region. With this investment, we endeavour to strengthen our position as a global game-changer in the field of securitization.”

Both Emirates NBD and Deniz Ventures remain committed to investing in fintech and technology-driven startups, driving innovation and digital transformation in the financial sector. Building on prior investments such as Erguvan in 2023 and NewBridge Fintech Solutions, their support for high-growth startups like TeamSec highlights their dedication to shaping a sustainable, tech-enabled future in finance.

The TeamSec deal was worked on by Soumaya Ben Beya Dridje, Partner at Rasmal Ventures, and the legal advisors were BTS & partners.

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“This funding marks a pivotal milestone for EdfaPay as we focus on Saudi Arabia’s flourishing entrepreneurship ecosystem,” said Eng. Ghormallah Alghamdi, co-founder and CEO of EdfaPay. “With this backing, we’re well-positioned to drive innovation and support the growing local and international demand for fintech solutions”.

EdfaPay’s growth strategy now encompasses a significant expansion into Oman, where it is set to deliver a comprehensive payment infrastructure tailored to the needs of banks and local enterprises. This move supports EdfaPay’s commitment to equipping businesses with secure and adaptable financial tools, contributing to a dynamic ecosystem for startups and SMEs across the region.

Eng. Nedal Sabbah, CTO and Co-founder of EdfaPay, commented, “EdfaPay has demonstrated impressive international growth; our SoftPOS technology has been attracting new partners across the region and beyond. With this fund, we will strengthen our technology with new features and enhancements to support and expand our networks of partners in Asia, North Africa, and the GCC”.

As EdfaPay continues to expand its operations, it remains committed to providing cutting-edge financial solutions tailored for startups, freelancers, entrepreneurs, and small and medium-sized enterprises, mirroring its impactful presence across the MENA region. It was also recently chosen as one of the fastest-growing companies in the MENA area.

EdfaPay is backed by leading VCs including OmanTel, Aljabr MENA, Waad Investment, NUWA Capital, and Sanabel 500. It has also expanded its operations to several markets including Tunisia and Morocco.

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The report serves as an essential reference for individuals, institutions, and professionals seeking to enter this vital sector or who are currently employed within it in addition to demonstrating the emerging trends in the fintech sector, highlighting the evolving nature of job roles and career opportunities. It also identifies the core skills needed to align the workforce’s capabilities with market needs through a comprehensive overview of educational pathways and training programs available for those interested in joining or advancing within the fintech field.

Amer Marhoon, Managing Director of the Skills Bahrain initiative, said, “This report represents an essential step in strengthening Bahraini talent within the fintech sector by providing an in-depth analysis of future trends and required skills. This report will also assist us at Tamkeen in developing specialized programs and initiatives that align with the sector’s market needs and skills required, hence enabling Bahrainis to become more future ready.”

Bader Sater, Chief Executive Officer of Bahrain FinTech Bay, added, “Our collaboration with Skills Bahrain initiative on this report emphasizes our commitment to driving innovation and skill development within the fintech sector. We look forward to seeing this report serve as a beneficial tool for guiding individuals and institutions towards a future focused on innovation and sustainability.”

This report showcases Bahrain’s readiness to adapt to the changes in global trends when it comes to the Fintech sector. It provides insights and data to identify challenges associated with these shifts in the sector, offering comprehensive perspectives on future skills and job roles. It also aims to enhance the ability of individuals and institutions to adapt to and leverage these changes to strengthen their competitiveness both locally and globally.

Skills Bahrain is an initiative that operates under the umbrella of the Labour Fund “Tamkeen” and aims to fill the skills gap of local talent resulting from the constant changes and development in the global labor market. Skills Bahrain works closely with employers, education & training providers, and the government, to bridge the skills gap by providing stakeholders with the necessary intelligence, sector-specific data, and necessary tools.  Skills Bahrain contributes to the transition from education to employment, and provides a clear path towards career development, therefore developing skilled and globally competitive Bahraini talent.

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Network offers a wide range of payment methods, including acceptance of major card schemes, popular mobile wallets, loyalty redemption from multiple leading banks, and a host of other value-added services. Under this partnership, Tamara’s split payment service will be integrated into Network’s N-Genius POS terminals, offering customers the option of splitting their payments in up to four instalments, without interest, or pay in full at the time of purchase. This service not only offers flexibility to customers to manage their spending but also ensures that merchants receive full payment upfront.

As demand for alternative payment methods rises, consumers are increasingly turning to split payments as a seamless and convenient option across various sectors, including travel and tourism, consumer electronics, and retail. Split payments provide access to flexible payment solutions, characterized by transparency and the absence of interest. Tamara currently serves millions of customers and partners with thousands of merchants across its platform.

Jamal Al Nassai, Group Managing Director for Merchant Services – Middle East and North Africa (MENA) at Network International, stated, “We’re excited to partner with Tamara to bring our merchants and consumers enhanced flexibility in managing their payments. This partnership reinforces our commitment to delivering innovative payment solutions, enhancing both business growth and consumer experience across the region.”

Sami Louali, EVP, Chief Revenue Officer at Tamara, commented: “At Tamara, we are excited to widen our reach and make split payment solutions more accessible to merchants across various platforms. This partnership with Network International marks a pivotal step in our mission to enhance the shopping experience for consumers while supporting businesses in offering flexible payment options.”

By providing flexible payment options, BNPL aligns with the new age era of consumers’ preferences for transparent, flexible payments, creating a win-win proposition for merchants and consumers.

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In an era of rapidly evolving financial needs, Menthum Goals addresses the demand for accessible, goal-oriented financial solutions that cater to all – regardless of income level or financial literacy. This innovative proposition simplifies the savings journey, helping users set clear goals and stay committed through an intuitive, easy-to-use experience.

“We believe that financial wellness should be within everyone’s reach. We all have dreams, but sometimes life gets in the way, and we delay making them real. Many of us know that good planning and discipline are key to financial wellness, yet taking the first step can be the hardest part.” said Himanshu Shrimali, Co-founder & CEO of Menthum. “With Menthum Goals, we’re addressing a crucial gap in Egypt’s financial landscape. Designed to empower individuals to take control of their financial life with clarity and ease, Menthum Goals enhances financial wellness, setting users on the path to achieving their aspirations and Making It Possible.”

Menthum, Egypt’s pioneering fintech startup, has launched “Menthum Goals!”, a first-of-its-kind digital savings proposition designed to transform how individuals plan, save, and achieve their financial aspirations. More than just a savings tool, Menthum Goals! empowers users to set, track, and reach their financial objectives in a disciplined, structured way, bringing a unique and personalized approach to financial wellness for the people of Egypt.

In an era of rapidly evolving financial needs, Menthum Goals addresses the demand for accessible, goal-oriented financial solutions that cater to all – regardless of income level or financial literacy. This innovative proposition simplifies the savings journey, helping users set clear goals and stay committed through an intuitive, easy-to-use experience.

“We believe that financial wellness should be within everyone’s reach. We all have dreams, but sometimes life gets in the way, and we delay making them real. Many of us know that good planning and discipline are key to financial wellness, yet taking the first step can be the hardest part.” said Himanshu. “With Menthum Goals, we’re addressing a crucial gap in Egypt’s financial landscape. Designed to empower individuals to take control of their financial life with clarity and ease, Menthum Goals enhances financial wellness, setting users on the path to achieving their aspirations and Making It Possible.”

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The foreign exchange market (FX) in the UAE currently exceeds $1 Trillion and plays a crucial role in the economy and region’s positioning as a global trade hub. Processing over $2.2 bn of transaction volume to date, Hubpay has introduced its new Forwards Contract service to mitigate financial risk for businesses that buy or sell products and services internationally by introducing a fully automated service on all deliverable currencies 24/5.

Helping SMEs Improve Cash Flow with Forward Contracts
SMEs often face significant challenges managing cash flow, with research showing that nearly 60% of small businesses experience cash flow issues at some point in their operations. To address this, Hubpay is offering flexible forward contracts that allow SMEs to lock in future exchange rates with just a 5% deposit of the overall notional value.

By using forward contracts, SMEs can hedge against currency fluctuations, ensuring predictability in their foreign exchange transactions and preserving essential cash flow. This strategy helps businesses avoid unexpected exchange rate spikes, enabling them to allocate more working capital towards growth and daily operations.

How Hubpay’s Forward Contracts Can Protect a UAE SME
Japan is a key trading partner for the UAE, with bilateral trade volumes exceeding 20 billion USD in the past 10 months. However, the Japanese Yen has seen a volatility of 12% during the same period. This presents a challenge for UAE businesses that import or export from Japan.

In July, a UAE-based SME placed an order for goods from Japan, with payment due in October. Over this period, the currency market shifted by 7.8% against the UAE business, significantly increasing the cost of the goods. Originally budgeting $500,000, the business is now facing an additional $39,000 in currency costs, potentially eroding their profit margin.

“Had the business secured part of its exposure with a flexible forward contract through Hubpay, they could have locked in an exchange rate in July, protecting against market volatility and ensuring cost certainty” explains Kevin Kilty, CEO and Founder of Hubpay. “This approach would have allowed the business to manage its cash flow more effectively and safeguard its profit margins during volatile market conditions.”

Building a World-Class Payment Platform for Businesses
Hubpay’s open forwards platform represents another significant step towards building a world-class FX and payment platform for businesses in the UAE and beyond. This innovative solution empowers companies to thrive in a dynamic and global economy, mitigating risk and securing their profit margins and financial future.

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The new funding will allow Abhi to scale its operations and further expand its earned wage access (EWA) to serve the blue- and white-collar working populations in the country. To date, Abhi has provided circa $55 million in EWA to workers in the UAE across 545,000 transactions. With this strategic investment, Abhi is set to play a key role in further advancing financial inclusion across the UAE.

“It is our hope that this facility further drives financial inclusion of underserved communities in the UAE through Abhi’s proprietary technology” said Nathan Kwon, Head of Private Credit at Shorooq Partners. “With the support of Shorooq and Amplify, Abhi is poised to accelerate its growth and become a leading innovator in the region.”

Sharaf Sharaf, Fund Head at Amplify Growth Partnership, added: “We are excited to co-lead this investment in Abhi, a company that is transforming financial services by providing underbanked individuals advanced access to their earned wages. Through innovative technology, Abhi is empowering both SMEs and their employees, addressing critical financial needs while democratizing financial services across our regions.”

“This investment represents a strong vote of confidence from a prominent regional investor in the fintech space,” said Omair Ansari, CEO and co-founder of Abhi. “With this funding, we are poised to scale our impact, ensuring that every employee, regardless of their role, has access to the financial flexibility they need to thrive.”

The MENAP region – comprising the Middle East, North Africa, and Pakistan – is undergoing rapid digitalization, with increased regulatory support for fintech innovation and a growing demand for financial inclusion. As a pioneering fintech in this landscape, Abhi is seizing the opportunity to expand its reach, delivering key financial services to underserved populations.

Shorooq Partners and Amplify Growth worked closely together on this financing, combining their regional expertise to deliver a well-structured solution for Abhi. Their collaboration highlights a shared commitment to supporting high-growth companies in the MENAP region and advancing financial inclusion through innovative investment strategies.

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