DIFC launches fintech fund with $100 million

The Dubai International Financial Centre (DIFC) has launched a $100 million fund to invest in financial technology companies.

The fund will aim to support start-up and growth-stage firms that are targeting customers in the Middle East, Africa and South Asia.

In a speech, Sheikh Maktoum Al Maktoum, president of the DIFC, said companies supported by the fund could benefit from the DIFC’s “attractive experimental licences, market leading pricing and collaborative spaces”.

“There is immense opportunity in this market, and this will be one more step towards shaping the future of finance in the region,” he said.

The DIFC, like other financial centres in the region, is hoping to attract fintech companies to operate in its jurisdiction. The centre recently granted in-principle approval of a new type of licence to a robo-advice company.

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