fbpx
  • Topics
    • AI & Big Data
    • AR & VR
    • Blockchain
    • Clean Technology
    • Content & Games
    • Cybersecurity
    • Enterprise & SaaS
    • Gadgets & Electronics
    • Health & Bio
    • FinTech
    • IoT
    • Transportation & Logistics
    • Marketplaces & E-commerce
    • Ecosystem
    • Robotics
    • Investments
    • EdTech
    • Featured
  • Deals
    • Private Equity
    • Venture Capital
    • IPO & Markets
  • Interviews
    • Startup Investing
    • Fundraising
    • Product Launching
  • MORE
    • Events
    • Startups Advice
  • Submit an Article
  • REGISTER
  • login
No Result
View All Result
No Result
View All Result
Home Featured

Dubai’s Baraka raises $20 Million from Valar, Knollwood

Team AsiaTechDaily by Team AsiaTechDaily
21 November 2022
in Featured, FinTech
0
Baraka

Feras Jalbout, Founder & CEO of baraka.

16
SHARES
Share on FacebookShare on Twitter
Bookmark (0)

Please login to bookmark

No account yet? Register

Baraka, a fintech firm that is based in Dubai, announced that it raised $20 million in a funding round led by Valar Ventures, a New York-based investor backed by billionaire venture capitalist Peter Thiel.

In a statement, Baraka said, it was the first investment in the Middle East for Valar Ventures, adding that investment firm Knollwood also participated in the Series A round.

With new investments, Baraka also announced its plan to “double down on its presence across the Gulf Cooperation Council (GCC) and Egypt, and drive customer acquisition.”

The company that provides “commission-free” investing in U.S. stocks and exchange-traded funds also commits to “continue to attract global fintech talent to the region while hiring locally for key positions across departments.” In addition, Baraka said, they are also exploring new markets for expansion in the Middle East and North Africa (MENA).

“The region’s emerging fintech ecosystem has immense potential and we’re encouraged by the early signs of traction that baraka has been able to showcase,” said Andrew McCormack, general partner at Valar Ventures.

Chief Executive Officer and founder Feras Jalbout said they take pride in the fact that tens of thousands of users have signed up to Baraka, in just one year since its official launch.

Baraka is part of Abu Dhabi’s state-backed tech ecosystem, Hub 71. It is also backed by Y Combinator, Silicon Valley’s prominent incubator and startup fund while its list of investors include venture capital firms like Class 5 Global, Global Founders Capital and Venture Souq.

And in order to allow local trading on its app, the company said it was working with stock exchanges in the region, like Saudi Arabia’s Tadawul. The Gulf has seen an initial public offering (IPO) boom that has defied global market trends.

Dubai and the rest of the Middle East are starting to emerge as a key market for venture capital investments in recent years, prompting investors to include startups in this region in their portfolio.

Previous Post

Vietnam’s Rootopia secures $1m to aid more students in need of education loans

Next Post

Sejong Telecom to build Blockchain-based cloud PACS construction and NFT issuance platform for medical image data

Related Posts

edit post
PhonePe
Featured

Indian fintech PhonePe raises $200m more from Walmart

March 21, 2023
edit post
Antler
Featured

Antler to invest in over 30 startups in Indonesia this year

March 21, 2023
edit post
WeBudding
Content & Games

Korean startup WeBudding partners exclusively with the most popular free app Goodnotes 5 to provide Korean digital stationery content to users globally

March 17, 2023
edit post
One Impression
Featured

One Impression raises $10m in Series A to expand product offerings

March 15, 2023
edit post
Bababos
Featured

Indonesian startup Bababos closes pre-seed funding led by East Ventures

March 15, 2023
edit post
Broom
Automobiles

Indonesian auto tech startup Broom raises $10m in Openspace-led funding

March 14, 2023
Next Post
edit post
sejongtelecom

Sejong Telecom to build Blockchain-based cloud PACS construction and NFT issuance platform for medical image data

Discussion about this post

No Result
View All Result

Follow Us

FREE NEWSLETTER




Copyright © 2023 AsiaTechDaily.com| About Us | Seed accelerator| Terms of Use| Privacy Policy| Cookie Policy Contact : [email protected] | DMCA.com Protection Status | trusted by Wimgo

No Result
View All Result
  • Topics
    • AI & Big Data
    • AR & VR
    • Blockchain
    • Clean Technology
    • Content & Games
    • Cybersecurity
    • Enterprise & SaaS
    • Gadgets & Electronics
    • Health & Bio
    • FinTech
    • IoT
    • Transportation & Logistics
    • Ecosystem
    • Marketplaces & E-commerce
    • Robotics
    • Investments
    • Featured
  • Deals
    • Private Equity
    • Venture Capital
    • IPO & Markets
  • Interviews
    • Startup Investing
    • Fundraising
    • Product Launching
  • MORE
    • Events
    • Startups Advice
  • Submit an Article
  • Forums
  • Jobs
  • REGISTER
  • Login

Copyright © 2023 AsiaTechDaily.com| About Us | Seed accelerator| Terms of Use| Privacy Policy| Cookie Policy Contact : [email protected] | DMCA.com Protection Status | trusted by Wimgo

We hope you enjoy our content, May you please give us Feedback regarding our website!

Single Post Feedback