Ever since the FinTech industry gained popularity, the new hundreds or thousands of startups across the world investing money in FinTech to get the benefits of this new era of Financial Industry by becoming a part of it. Here we will discuss the top fintech companies in middle east, as this is the region where traditional institutions such as banks have limited success, because the majority of the population in this region do not have bank accounts, so FinTech is aiming to address the financial gaps by providing the people access to financial services.
PayTabs was founded in 2014 in Saudi Arabia. It provides online payment processing solutions to the consumers, and it has been funded upto $20 million. PayTabs offers online and mobile based payment solutions (through online platform and mobile app) to the consumers so that they can run their own businesses securely.
It is a financial product comparison platform (based on online web application) which compares different services that provide Health Insurance, Home Insurance, Travel Insurance, Car Insurance, Personal Loans, Car Loans, and Credit Cards and Bank Accounts. This platform helps customers to take better financial decisions in choosing right service for themselves.
Bayzat is the online Health Insurance and Human Resource Solutions Provider company founded in 2014. It provides a platform with benefits to the health insurers who want to make their own health insurance network for the consumers. Bayzat provides tools of managing employee records and easy data entry system.
Beehive is the platform for SMEs (Small and Medium-Sized Enterprises) to rapidly grow their businesses. Beehive is the Peer-To-Peer (P2P) Lending platform (also called crowdfunding platform) which provides funds to SMEs and eliminate the issues such as cost and complexity of conventional finance etc. Beehive connects different businesses with investors who can provide support to SMEs in growing their businesses.
It is another effective Financial Products Comparison Platform which let the individuals or businesses make better financial decisions. It provides comparisons of services ranging from Car Insurance, Car Loans, Personal Loans, Home Loans, Credit Cards, Bank Accounts, New to Town feature (which guides foreign newbies about current country’s (such as UAE) hotels, supermarkets, restaurants etc), and Blog (which provides information on latest trends and tips about the current the region).
Eureeca is the crowdfunding platform launched in 2013. It allows early-stage businesses and SMEs to increase their capital from a number of investors in exchange for the equity. Eureeca platform works as an alternative to traditional financing sources such as banks or venture capitals.
It is a payment service and also electronic bill presentment platform that allows customers to make secure payments via online or mobile. Founded in 2011, Madfooatcom provides faster payment solutions with reduced costs.