Abu Dhabi Fintech Startup Raises $20 Million in Series B Funding Round – Emerging Markets Bitcoin News


Abu Dhabi-based fintech, Pyypl, introduced on Nov. 7 that it had raised $20 million in Collection B funding and this introduced the whole of funds raised to almost $40 million. Pyypl has stated it plans to make use of the not too long ago raised funds to develop and add new options to its proprietary know-how. The corporate additional needs to help “800 million financially underserved smartphone customers” from the area by way of digital and bodily pay as you go playing cards.

Pyypl’s Monetary Inclusion Journey

Pyypl, an Abu Dhabi-based fintech, not too long ago revealed it had raised $20 million in a Collection B spherical, to fund its deliberate growth into the Center East and Africa. United Arab Emirates-based enterprise capital firm World Ventures is likely one of the ten new and present traders that participated within the spherical.

The most recent capital elevate, which brings the whole raised up to now to $40 million, is about to fund the event and addition of latest options to Pyypl’s proprietary know-how.

Along with seeing the variety of its customers quadruple since its earlier capital elevate, Pyypl — an Abu Dhabi World Market’s Monetary Providers Regulatory Authority licensed blockchain-based platform — has reportedly established relationships with Binance, Ripple, and Visa. Commenting on his agency’s newest fintech fundraise, Antti Arponen, the co-founder and CEO at Pyypl, said:

We welcome our new traders and respect the additional funding from our present shareholders in assist of our monetary inclusion journey.

The fintech added that its goal now’s to help “800 million financially underserved smartphone customers” from the area by way of digital and bodily pay as you go playing cards in addition to “user-to-user transfers.”

In the meantime, Arponen is quoted in one other report stating that his agency is aiming to serve a billion customers from the area. Oman and nations within the Gulf Cooperation Council (GCC) are among the many nations that Pyypl is focusing on.

Tags on this story
Antti Arponen, Binance, financial inclusion, Fintech, Global Ventures, Gulf Cooperation Council (GCC), Pyypl, Ripple, Series B, smartphones, VISA

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Terence Zimwara

Terence Zimwara is a Zimbabwe award-winning journalist, writer and author. He has written extensively concerning the financial troubles of some African nations in addition to how digital currencies can present Africans with an escape route.

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