Fintech Galaxy, a UAE-headquartered open innovation platform, has completed a seed funding round, having raised US$2 million to further ramp up the development and rollout of its Open Finance platform.
This is part of an even greater plan to expand its reach and further promote financial inclusion across key the Middle East and North Africa (MENA) markets.
The seed round was led by Jordan’s Ahli Fintech and joined by Raz Holding Group, OMQ Investments, Egypt’s EFG EV Fintech, and INSEAD Saudi Angel Investors.
Fintech Galaxy is building an Open Finance platform, with a mission to reform and reinvent financial services with an open API infrastructure that provides integration between fintech firms and institutions.
The platform will allow clients to access customer data from partner banks via its Open Banking APIs, while also enabling developers to build new apps and services.
Mirna Sleiman, Founder and CEO, Fintech Galaxy, said: “Fintech Galaxy is driving the development of a much richer, broader financial technology ecosystem that goes well beyond banking to include insurance, asset management, exchanges, and pensions.”
Pan Finance is a print journal and news website providing worldwide intelligence on finance, economics and global commerce. Known for our in-depth analysis and opinion pieces from esteemed academics and celebrated professionals; our readership consists of senior decision makers from across the globe.