Investment Surges in DIFC FinTech Firms Ahead of Dubai FinTech Summit

Dubai continues to solidify its reputation as a global hub for FinTech and innovation ahead of the Dubai FinTech Summit taking place on 8 and 9 May this year under the patronage of His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai; Deputy Prime Minister and Minister of Finance of the UAE; and President of the Dubai International Financial Centre.

During 2022, investment in DIFC’s FinTech and innovation community exceeded USD 615 million and the total number of active firms in the sector grew 36% to 686.

The Fintech and Innovation sector in the Middle East, Africa and South Asia (MEASA) region is growing at pace with a market value forecasted to double in size from USD 135.9 bn in 2021 to USD 266.9 bn in 2027 according to DIFC FinTech Hive’s 2022 FinTech Report.

The Dubai FinTech Summit will provide the perfect environment for connecting start-ups, investors and industry leaders tapping into this opportunity as they advance in the region and beyond.

Organised by DIFC, the leading international financial hub in the (MEASA) region, the Summit will bring together 5,000 global FinTech and technology experts to discuss innovations and challenges in the sector, as well as spotlight all things impacting the future of finance – from Web 3.0, Metaverse and Blockchain to decentralised finance, regulation and policymaking, and the greater need for increased financial inclusivity.

Visitors will also be able to meet more than 100 FinTech exhibitors and join a series of panels and fireside chats.

The Dubai FinTech Summit will take place at Madinat Jumeirah in Dubai.

The event will host esteemed local voices such as H.E. Abdullah Bin Touq Al Marri, UAE Minister of Economy and H.E. Essa Kazim, Governor of DIFC.

The impressive roster of speakers at the summit include Bill Winters, Group Chief Executive of Standard Chartered PLC; Brad Garlinghouse, CEO of Ripple; Melissa Guzy, Co-Founder and Managing Partner of Arbor Ventures; and Michael Shaulov, CEO of Fireblocks; among others.

Currently home to 60% of all FinTech companies based in the GCC, Dubai and DIFC is being recognized as a global center for innovation, with its unique ecosystem and comprehensive approach to business, driving not only the future of finance but increasingly the future economy.

As per MAGNITT, FinTech start-ups in MENA recorded a 183% year-over-year growth in funding in 2021.

Highlighting the impact of the growing FinTech sector in the region, Mohammad Alblooshi, Head of DIFC Innovation Hub and FinTech Hive said, “The demand for FinTech services has grown significantly in the last few years, powered by digital technologies and innovation across sectors. In recent years, DIFC has successfully cemented its position as the finance and innovation hub in the MEASA region by offering the most comprehensive FinTech and venture capital environments. In line with its vision to drive the future of finance, DIFC has created lucrative opportunities for start-ups, global players, and unicorns to set up base in the Emirate.”

He added, “I’m confident that the Dubai FinTech Summit, organized by DIFC, will soon become the premier platform allowing us to capture the industry’s attention and fulfil our vision of making Dubai a new home for the future of FinTech and finance.”

Visitors can now purchase tickets for the Dubai FinTech Summit, with early bird prices available till 15 March 2023.