Dubai-based Tarabut Gateway totals $25M investment since February to expedite MENA growth

Published 02 Nov,2021 via Bizbahrain–Tarabut Gateway, the Dubai headquartered Open Banking platform, has concluded a seed round of $13M and pre-series-A funding round of $12M led by Tiger Global in the last eight months. Tarabut Gateway’s solutions allow financial institutions and fintechs to leverage Open Banking to scale their businesses across the region. Tarabut Gateway welcomes new investors including the Dubai International Fintech Fund, the Investment Vehicle of Dubai’s International Financial Center (DIFC).

The investment follows Tiger Global’s most recent investment in other Open Banking Players across the globe including Truelayer in the UK, Mono and in Africa. Since its inception in 2001, Tiger Global has made investments into 30 countries around the globe in key startup regions such as India, Asia and further afield.

As the first licensed Account Information Service Provider (AISP) and Payment Initiation Service Provider (PISP) in the Middle East & North Africa (MENA) region, Tarabut Gateway is fulfilling its mission to facilitate the creation and distribution of personalised financial services for banks and fintechs, as well as their end-users.