Tarabut Gateway totals US$25 mln investment in 2021

UAE-headquartered Open Banking platform Tarabut Gateway has finalized a seed round of US$13 million and a pre-series-A funding round of US$12 million which opened first in February 2021.

Tarabut Gateway provides a solution that helps financial institutions and fintech firms to leverage Open Banking to scale their operations across the region.

Tarabut Gateway’s latest funding round drew participation from new investors. One of those is the Dubai International Fintech Fund, the Investment Vehicle of Dubai’s International Financial Centre (DIFC).

The investment comes on the heels of Tiger Global’s spree of investment in other Open Banking Players across the globe including Truelayer in the UK and Mono in Africa.

Founded in 2001, Tiger Global has made investments into 30 countries spread across different regions of the world, particularly key startup regions such as India, Asia, and beyond.