DIFC launches $100 million FinTech fund
Written by Chris Lemmon
Dubai International Financial Centre (DIFC) has announced the launch of a $100 million FinTech-focused fund to accelerate the development of financial technology by investing in startups from incubation through to growth stage.
The new fund will leverage the DIFC’s FinTech ecosystem, which consists of experimental licenses and several collaborative spaces.
Essa Kazim, governor of the DIFC, said: “It gives me great pleasure to announce that we are launching a new $100 million fund to help establish, grow and upscale startup and growth stage FinTech firms looking to access the MEASA (Middle East, Africa and South Asia) markets.
“There is huge potential in the region we serve and through the DIFC, we look to support the development of emerging markets in MEASA and encourage greater trade flows through the South-South corridor, which stretches from Latin America, through to Africa, India, South East-Asia and China.”