DIFC launches $100mn fund to boost FinTech

DUBAI / WAM

Dubai International Financial Centre (DIFC) announced the launch of a $100 million FinTech-focussed fund to accelerate the development of financial technology by investing in start-ups from incubation through to growth stage, in the presence of HH Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai and President of DIFC.
The fund was announced during the inaugural Global Financial Forum (GFF), organised by DIFC. The GFF, which took place under the theme, “Navigating the New Order”, was attended by over 350 influencers from the financial services industry, who were selected out of hundreds that had applied to attend. In his welcoming address, Essa Kazim, Governor of DIFC, said, “It gives me great pleasure to announce that today, we are launching a new $100 million fund to help establish, grow and upscale start-up and growth stage FinTech firms looking to access the MEASA markets. The fund will leverage the DIFC’s FinTech ecosystem consisting of attractive experimental licenses, market leading pricing and collaborative spaces.”