New platform targets region’s US$ 44bn personal finance market
Daleel, the Middle East’s personalized financial marketplace, has announced its expansion into the UAE.
Daleel, which was founded in Bahrain, has seen unprecedented success and popularity in its home fintech market, seamlessly bridging the gap between customers and financial institutions through its innovative platform, according to a press communication.
Its strategic growth coincides with purpose-built upgrades to help UAE consumers simplify their financial decision making. Daleel is addressing a sizable business opportunity, with the Middle East personal financial services market estimated at US$ 44.4bn.
Fittingly, its official UAE launch took place at Visa’s CEMEA region Market Support Center in Dubai, with the company having won first-place and US$ 40,000 funding at the ‘2023 Visa Everywhere’ Initiative finals in Saudi Arabia.
Distinguished guests
Daleel is also backed by proven investors such as Flat6Labs and Salica. The hosted launch event featured Daleel Co-Founders PK Shrivastava (CEO) and Ridaa Shah (COO); Helal Lootah (Co-CEO and Co-Founder of Lune Technologies); Chris Michael (Co-CEO and Co-Founder of Ozone API); Arran Summerhill (Co-Founder, Holo) and Visa CEMEA’s James Ashton-Smith, Head of Digital Partnerships & Ventures, amongst other distinguished guests from banks, VCs and fintechs.
“We look forward to contributing to the ‘We the UAE 2031’ vision and the UAE’s Digital Economy Strategy, driving greater financial collaboration, innovation and inclusion for the country’s economy,” affirmed Shrivastava.
“We welcome Daleel to the UAE and are delighted that a company we have supported through its early stages is scaling into a regional fintech player,” commented Salima Gutieva, Visa’s VP and Country Manager for UAE.
