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Best FinTech Companies 2022

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FinTech businesses are flourishing throughout MENA, driven by high demand from a youthful and more digital-first populace in areas including e-payments, open banking, and crypto-assets exchanges. 

In Europe, the Middle East, and Africa (EMEA), investments in FinTech firms totalled $77.4 billion in 2021 over 1,859 agreements, up from $26.7 billion in 2020, according to a KPMG analysis. The amount of venture capital (VC) money invested in the FinTech sector in the EMEA area increased dramatically over the past year, doubling from its previous record of $9.9 billion in 2020.

This article will list the best corporations utilising technology in the financial industry, including blockchain and cryptocurrencies, digital banking, lending and personal financing, insurance, payments, and investment.

BitOasis

Users of BitOasis may purchase, sell, and exchange various cryptocurrencies, including Bitcoin, Ethereum, and XRP. The firm has over 200,000 consumers, and its total trading volume is around $4 billion. The firm is top-rated among players of online casinos (list of casinos can be found at casinoszonder.com), as many online casinos accept cryptocurrencies for their services.

Bahrain, Kuwait, Oman, Saudi Arabia, Turkey, Qatar, Morocco, Egypt, Jordan, Iraq, Lebanon, and Tunisia are all countries where BitOasis conducts business. It obtained $30 million in Series B fundraising in 2021 from local and international investors.

Eazy Financial Services

The Central Bank of Bahrain has authorised and governed Eazy as a supplier of payment gateways, POS systems, and online payment services. It released its EazyPay POS devices and EazyPay SoftPOS app in 2020, enabling small businesses and neighbourhood retailers to accept contactless payments. Eazy Financial contributed to processing transactions of $794 million in 2021 with the support of 900 merchants and more than 5,692 POS terminals throughout Bahrain.

AMAN Holding

AMAN, a Raya Holding company, offers e-payment, microfinancing, buy-now-pay-later (BNPL), and SME services. Through 170,000 POS devices, the firm serves over two million customers every day. AMAN also offers a powerful app that, among other things, permits e-commerce, bill and utility payments, charitable giving, and gambling. In 2021, the business handled $1.3 billion in transactions and earned $170 million in revenue. The app had 800,000 downloads as of July 2022, and more than 500,000 users were actively using it.

Beehive

The Dubai Financial Services Authority oversees the peer-to-peer lending platform Beehive. It offers digital financing solutions for SMEs, financial institutions, and investors. A 200 percent increase over the previous year, in 2021, the startup assisted businesses in borrowing $120 million. The firm has 15,500 customers as of July 2022 and operates in Saudi Arabia and Oman, in addition to its headquarters in Dubai. Before starting Beehive, Craig Moore was the founder and COO of Butterfly Software, a data analytics and migration software business in the UK that IBM purchased in September 2012.

Conclusion

There has been a remarkable increase in FinTech businesses globally. Moreover, these firms have increased exposure to a broader range of possibilities and made financial transactions more simplified and pleasant.

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  • Source: Plato Data Intelligence: Platodata.ai
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