Connect with us
Prague Gaming & TECH Summit 2025 (25-26 March)

Fintech PR

FinTech Abu Dhabi Festival Culminates With Focus on the Next Generation

Published

on

Photo source: wamda.com

 

Future trends in the FinTech industry and the next generation of start-ups took centre stage as FinTech Abu Dhabi Festival, organised by Abu Dhabi Global Market and powered by Unbound, drew to a close today.

Held under the patronage of His Highness Sheikh Hazza bin Zayed Al Nahyan, Vice Chairman of the Abu Dhabi Executive Council, FinTech Abu Dhabi attracted 5,000 registrations and brought together world-class business leaders, a blessing of successful unicorns and FinTech innovators.

Start-ups RISQ and Jibrel Network were announced as the two winners of the FinTech Abu Dhabi Innovation Challenge and took home a “Proof of Concepts” grant of up to SGD 200,000 (AED 540,000) each and the opportunity to attend Singapore FinTech Festival in November.

The final day of FinTech Abu Dhabi began with the official ringing of the bell by His Excellency Khalifa Salem Al Mansouri, Acting Chief Executive Officer of ADX, signalling the start of trading at the Abu Dhabi Securities Exchange.

China’s Belt and Road Initiative and its impact on the UAE

Dia Haykal, Editor-in-Chief of MiT Technology Review explained at the panel ‘Follow the One Belt Road (BRI): Unpacking the Impact China Will Have On MENA’ how the UAE will benefit from BRI, with trade between the nations reaching US$33 billion in 2018.

The panelists at the session discussed how China’s Belt and Road Initiative (BRI) is providing US$8 trillion of infrastructure investment to 65 countries. Richard Teng, CEO ADGM Financial Services Regulatory Authority (UAE), said China’s relationship with the UAE is blossoming.

“The relationship has never been stronger with strategic ties on all levels,” said Mr Teng. “UAE is China’s top investment destination in the region with bilateral trade expected to reach US$70 billion.”

Evolving trends in the FinTech ecosystem

Advertisement

Omar Christidis, Founder and CEO of ArabNet, discussed how different regulations and an unwillingness to share client data by banks are among the hurdles facing FinTech firms.

“Talent and upscaling initiatives in Abu Dhabi and Dubai are training the next generation,” said Mr Christidis. “However, the sector is held back by different regulations in different countries.

“Entities such as GFIN (Global Financial Innovation Network) are trying to harmonise regulations across countries so FinTechs can move quickly from market to market. DubaiAbu Dhabi and Bahrain are part of GFIN, which shows how important these markets are.”

Open Banking that allows FinTechs to access a client’s bank details to build services, is another area where companies are facing issues with many banks not sharing key information.

Bahrain is the only place that has mandated open banking by the banks, but it needs to happen elsewhere.”

Realising the potential of Crypto and digital money

Zeeshan Feroz, CEO of Coinbase UK and Steve Kirsch, CEO of Token, explained why there is a bright future for digital currency.

Speaking in a session moderated by Elizabeth Schulze, Technology Correspondent for CNBC, Zeeshan said: “We are going through a pioneering shift on what a bank account is. I think in a few years’ time, a crypto account will be the account where your salary will be paid into and spend from. It will do everything that a normal bank account does because crypto is a currency that will have value.”

Addressing the audience during his keynote speech, Steve Kirsch said digital money will totally transform the banking industry in the future. He said: “I think the way forward, using digital currency is going to be inevitable. This will be a rare opportunity for banks to unite and gain competitive advantage and defend against existential threats.”

Moving from oil to a knowledge economy

Advertisement

Mark Curtis, CFO at ADNOC, explained how social innovation will empower the UAE’s move from oil to a knowledge economy.

“Schools should have more internships and pilot new ideas. Society has to get comfortable with making mistakes and moving on to create meaningful change,” said Mr Curtis. The panel discussion, titled Growing a Knowledge Economy in the UAE, heard how ‘data is the new oil’.

Mohamad Elewa, Partner at Grant Thornton, said: “Fluctuations in the oil price show the UAE was right to drive another stream of venue through the growth of a knowledge and skills-based economy.

“Global economies are shifting and changing, so by laying solid foundations now at schools, colleges and start-ups we will see the benefits in 10-20 years.”

Youth-Circle – Empowering the UAE’s youth to embrace opportunities

More than 80 students and young professionals gathered to learn and discuss how they can play a key role in the future of FinTech and how to achieve success.

Alexander Graubner-MuellerFounder of Kreditech, said the best time to start a business is when you are young, allowing you to enhance your skillset and knowledge.

The panel heard from H.E. Khalifa Salem Al Mansouri, Acting CEO – Abu Dhabi Securities Exchange (ADX) who emphasized the importance of research and being motivated. He said: “You have to understand the landscape and know your competitors and leverage on your strengths.”

Youngsters also heard from Her Excellency Salama Al Ameemi, Director-General of Ma’an, on how the growing social entrepreneurship sector is flourishing in Abu Dhabi. She highlighted the success of the inaugural Ma’an Social Incubator programme and invited the participants to apply for the next cycle.

“At Ma’an, we believe social entrepreneurship is the key to unlocking many of the solutions to common social challenges,” said H.E. Al Ameemi.

Advertisement

“The Ma’an Social Incubator, the first in the region, was initially launched in May and received 531 registered interests worldwide and 131 ventures applied from different parts of the world.

“Through this programme, Ma’an brings together innovation, entrepreneurship and social impact with business development expertise to grow new social enterprises in Abu Dhabi.”

Top prizes for innovation

The achievements of 10 aspiring entrepreneurs and professionals for their innovative ideas and initiatives were also recognised during the FinTech Abu Dhabi Awards. Each applicant was judged by an expert panel of global FinTech luminaries on their innovation, impact and influence.

Among those to receive the awards in front of hundreds of delegates was Ambareen Musa. The Founder of Souqalmal won two awards – FinTech Leader and FinTech Woman of the Year.

Ian Dillon, Co-founder at Now Money, was awarded the UAE FinTech Founder accolade, while Invoice Bazaar (MENA FinTech of the Year), Shorooq VC Partners Ltd (FinTech Investors), and Hardik Bhatia, Founder at SolarGridX Ltd (Emerging FinTech Talent) also claimed awards.

Mayasoft LLC (Emerging Markets FinTech), Startupbootcamp Fintech Cairo (Fin Tech Accelator), Bahrain Fintech Bay (FinTech Corporate Innovation Programme) and Wahed Invest LLC (Islamic Fintech of the Year) were the other winners.

Aiding Abu Dhabi’s transformation

“Fintech Abu Dhabi is one of the most prominent events in the emirate,” said Rashid Abdul Karim Al Balooshi, Acting Undersecretary of Abu Dhabi Department of Economic Development.

“The event offers solutions capable of transforming Abu Dhabi’s financial services sector, which accounts for 14.3 per cent of Abu Dhabi’s non-oil (GDP), and is a prime engine of future growth.

Advertisement

Abu Dhabi’s financial and insurance sector saw bank licenses rise to 2,390 and insurance activity licenses reach 318, which reflects the strength of the local economy.

“The government also recently launched the unified AED 520 million ‘HUB71 Platform,’ a flagship initiative of the AED 50 billion economic accelerator program,” said Mr Al Balooshi. 

 

SOURCE Abu Dhabi Global Market

Fintech PR

NYSE Content advisory: Pre-market update for March 14, 2025

Published

on

NEW YORK, March 14, 2025 /PRNewswire/ — The New York Stock Exchange (NYSE) provides a daily pre-market update directly from the NYSE Trading Floor. Access today’s NYSE Pre-market update for market insights before trading begins.

  

Alison Kosik delivers the pre-market update on March 14th

  • Investors welcomed a cooler-than-expected Producer Price Index reading for the month of February as tariff talk continues out of Washington D.C.
  • Attention shifts to the Federal Reserve decisions coming next week as inflation data suggests the rate of inflation growth could be slowing.
  • S&P 500 looks to rebound after ending yesterday in correction territory, which is a decline of at least 10% from a recent high.

Watch NYSE TV Live every weekday 9:00-10:00am ET 

NYSE Logo

Video – https://mma.prnewswire.com/media/2641945/NYSE_March_14_2025_Market_Update.mp4
Logo – https://mma.prnewswire.com/media/2581322/New_York_Stock_Exchange_Logo.jpg 

Cision View original content:https://www.prnewswire.co.uk/news-releases/nyse-content-advisory-pre-market-update-for-march-14-2025-302401916.html

Continue Reading

Fintech PR

Curve Secures £37M Investment led by Hanaco Ventures as the Company approaches profitability and prepares to Launch Curve Pay in 2025

Published

on

curve-secures-37m-investment-led-by-hanaco-ventures-as-the-company-approaches-profitability-and-prepares-to-launch-curve-pay-in-2025

2025 is shaping up to be a milestone year for Curve as it forecasts reaching profitability, expands its product offerings, and prepares to introduce its challenger to Apple Pay and Google Wallet—Curve Pay.

LONDON, March 14, 2025 /PRNewswire/ — Curve, the digital wallet that saves you money, announced today it has secured a £37M investment led by Hanaco Ventures, with participation of existing shareholders such as Fuel Ventures, IDC, Outward VC and Lord Stanley Fink. The funding will support Curve’s ambitious plans for 2025, including industry-first product launches and a series of customer-driven enhancements set to redefine how consumers manage their money in the future. Crucially, this capital injection strengthens Curve’s financial position, accelerating its path to profitability while continuing to innovate and scale.

With regulatory changes forcing behemoths like Apple to open their NFC technology and digital wallet adoption surging across the UK and Europe, combined with banks actively looking to introduce their own Wallet solutions, the market is primed for intense competition in digital wallets. As people seek more options and greater flexibility in how they control their finances, Curve, as the established champion for consumer choice, is developing an offering which benefits both consumers and banks simultaneously. The investment from Hanaco will further enable Curve to capitalize on these market shifts — precipitated by consumer demand for more choice — expanding its market presence and partnerships, strengthening its infrastructure, and enhancing customer experiences.

“This latest investment reflects the confidence in Curve’s vision to redefine the digital wallet space,” said Shachar Bialick, Founder & CEO of Curve. “The Wallet Wars are here, and the only available solutions for customers to date are simple wallets which do nothing more than let you pay with your card. Curve is the only wallet that adds superpowers to your money; avoid Fx fees from any linked card, split old purchases into installments, earn cashback on top of any card and more. We see issuers looking to enter the market, and networks introducing innovative products such as Visa Flex and MasterCard One Credentials. This investment would allow us to invest further in our customer experience, bring new partnerships, and accelerate our path to profitability.” 

“Curve reimagined the digital wallet delivering a one-of-a-kind financial experience that simplifies and supercharges how you pay and manage your money – all without changing your bank,” said Tomer Jacob at Hanaco. “The Curve team has proven to be resilient and innovative, and we are excited to support Curve as it continues to grow, bringing more choice and flexibility to the digital wallet market, and to its millions of users.”

Curve has consistently delivered a digital wallet designed to provide greater control and flexibility to its growing global customer base of what is currently over six million users. Starting with the Curve Card — the one card to rule them all. While benefits like stacking rewards, real-time spending insights, and avoiding foreign exchange fees, empowers customers to save money and make informed financial decisions, innovations such as Go Back in Time® allow them to retroactively move transactions between cards, and manage their cashflow better, avoid debt etc. 

Curve also offers a number of unique borrowing features and benefits. Curve ReFI enables customers to instantly transfer balances from one card to another, preventing unnecessary interest accrual, late payment fees, and overdrafts. Another recent invention, Curve Flex enables customers to split any past or future purchases into manageable instalments, wherever they shop. Further strengthening its commitment to financial empowerment, Curve has this week partnered with Infact to introduce real-time credit reporting for Curve Flex customers. 

A key milestone for the company will be the upcoming launch of Curve Pay, a digital wallet alternative for Android and iOS users. 

About Curve

Curve is a pioneering digital wallet that goes beyond simply storing your cards digitally. Unlike other digital wallets, Curve actively works to save you money and enhance every payment you make. Through its cutting-edge wallet technology, Curve will help you avoid hidden foreign transaction fees from any linked card, allows you to switch payment cards even after purchase, and lets you earn rewards on top of your existing card benefits.

Advertisement

The Curve Wallet sits at the heart of this technology, bringing all your cards and other payment sources into one secure platform while adding unique money-saving features. Whether you’re shopping online, in-store, or abroad, Curve gets the most value for your money. Authorised and regulated in the UK, EEA, and US, Curve has amassed more than 6 million customers globally, and processes billions in payments annually while continuing to innovate in digital finance.

View original content:https://www.prnewswire.co.uk/news-releases/curve-secures-37m-investment-led-by-hanaco-ventures-as-the-company-approaches-profitability-and-prepares-to-launch-curve-pay-in-2025-302401910.html

Continue Reading

Fintech PR

Azurity Pharmaceuticals Completes Acquisition of Covis Pharma

Published

on

azurity-pharmaceuticals-completes-acquisition-of-covis-pharma

WOBURN, Mass., March 14, 2025 /PRNewswire/ — Azurity Pharmaceuticals (“Azurity”) announced today the successful completion of its acquisition of Covis Group S.à r.l. (“Covis”) from existing investors. With this acquisition, Covis is now a wholly-owned subsidiary of Azurity.     

This strategic acquisition reinforces Azurity’s leadership in branded pharmaceuticals, harnessing the complementary strengths of both companies across multiple complex dosage forms and therapeutic areas. By combining expertise and resources, Azurity strengthens its ability to deliver medicines to overlooked patients on a global scale.

Strategic Benefits of the Acquisition:

  • Expanded Therapeutic Portfolio – The integration of Covis’ product portfolio and pipeline enhances Azurity’s offerings across ten complex dosage forms and nine key therapeutic areas, including cardiovascular, respiratory, central nervous system, endocrinology, gastrointestinal, hematology, immunology, anti-infectives, and oncology.
  • Global Footprint – The acquisition strengthens Azurity’s global footprint, expanding its commercial presence to over 50 countries and enabling greater patient accessibility to life-changing treatments. Azurity and its subsidiaries will employ more than 800 colleagues across North America, Europe and Asia. 
  • Key Biopharma Partner of Choice – The combined company is positioned to be a key partner for global life sciences companies looking to develop and commercialize their products, providing partners access to its deep development capabilities and global commercial infrastructure. 
  • Accelerated Innovation – By combining expertise and resources, Azurity is positioned to advance innovative treatments furthering Azurity’s mission to serve overlooked patients using a unique and accelerated development process – enabling scale and velocity.
  • Next-Gen Commercial Model – The integrated company portfolio will benefit from Azurity’s highly efficient and effective commercial model, combining data, analytics, and AI-driven digital capabilities to drive stakeholder engagement using an optimized omnichannel marketing approach.

“We are excited to welcome Covis Pharma to Azurity,” said Ronald Scarboro, CEO of Azurity. “The efforts of colleagues at both companies, their devotion to overlooked patients, and our culture of execution have brought us together to build this unique, highly differentiated pharmaceutical company. I look forward to all that we will accomplish as we grow globally and embrace new opportunities, driven by our purpose.”

“I am delighted that Azurity recognized the accomplishments and potential of Covis, and am thankful for the tireless efforts of Covis colleagues in support of patients that benefit from the company’s products,” said Rajiv De Silva, Chairman of the Board of Covis. “I am confident that the two companies will be able to untap each other’s highly complementary capabilities to accelerate development and commercialization of necessary medicines to underserved patients.”

“QHP Capital is proud to support Azurity in this acquisition, which aligns with our commitment to investing in life sciences and healthcare innovations,” said Jeff Edwards, Partner at QHP Capital, the majority owner of Azurity. “It has been our privilege to support and enable Azurity from a small, limited product, US-only company at the start of our investment in 2018 to the global, large, diversified portfolio, high-growth company it is today. We are committed to further enabling Azurity for the significant growth its team is well positioned to execute.”

Goldman Sachs served as financial advisor and Eversheds Sutherland and White & Case served as legal advisors to Azurity. Guggenheim Securities served as financial advisor to Covis and Reed Smith and A&O Shearman served as legal advisors to Covis.     

About Azurity Pharmaceuticals:
Azurity Pharmaceuticals is a privately held company committed to delivering innovative, high-quality medicines for overlooked patients. Azurity’s global footprint is over 50 countries, with a diversified portfolio of 30+ marketed brands spanning ten dosage forms and nine key therapeutic areas. Powered by its Next-Gen Commercial Model, Azurity leverages data, analytics, and AI-driven digital tools to enhance market reach and stakeholder engagement. For more information, visit www.azurity.com.

About QHP Capital: 
QHP Capital is an investor in technology and services companies in the life sciences, medical technology, and healthcare sectors. QHP has built an investment platform to provide strategic capital and industry expertise in partnership with strong management teams. The investment team consists of seasoned investment and operational professionals with significant investment experience and deep life science, medical technology, and healthcare expertise. QHP benefits from an extensive network of industry experts that assist in identifying, analyzing, and growing QHP’s portfolio companies. For more information, please visit www.qhpcapital.com.

Disclosure notice: Azurity and QHP undertake no obligation to update or revise any forward-looking statements contained in this release as a result of new information, future events, or evolving circumstances.  

Logo – https://mma.prnewswire.com/media/1435351/Azurity_r_rgb_Logo.jpg

Advertisement

Cision View original content:https://www.prnewswire.co.uk/news-releases/azurity-pharmaceuticals-completes-acquisition-of-covis-pharma-302401906.html

Continue Reading
Advertisement
Advertisement European Gaming Congress 2024

Latest news

Trending