Dubai is not only known for its stunning skyline and luxurious attractions but also for its thriving startup ecosystem. Dubai’s startup scene continues to flourish with innovative companies making strides in various industries. From real estate management to fintech, here are the top 10 startups in Dubai to watch this year.
Bayzat
Founded in 2011, Bayzat is a pioneering HR and insurance company in Dubai. It operates across employee benefits, insurance, and human resources, offering comprehensive payroll software solutions. Bayzat has raised approximately $28 million through five seeding rounds and boasts over a thousand client companies. The startup’s focus is on improving overall organizational efficiency, not just HR operations, with a team of 101 to 250 dedicated employees.
Fenix Games
Launched in 2022, Fenix Games is revolutionizing Dubai’s Web 3.0 gaming scene. Combining expertise from game developers and Wall Street veterans, Fenix Games aims to make gamers stakeholders using blockchain technology. The startup leverages interoperability, DAOs, and liquidity across various blockchains, raising $150 million since its inception. Fenix Games is set to transform how players interact with games, making them integral parts of the gaming ecosystem.
Flare Network
Founded in 2019, Flare Network is an innovative UAE startup focused on the blockchain market. The company has developed an EVM Layer 1 blockchain, enhancing the utility of blockchain technology. Flare Network offers services such as bridging, Web2 connectivity, decentralized data feeds, state acquisition, and scalable smart contracts. Through three seeding rounds, the latest in 2021, the startup raised $11.3 million, providing grants to developers using their platform.
Huspy
Huspy, founded in 2021, is a fintech company revolutionizing the real estate market in Dubai. It offers users hassle-free mortgages and better home purchase options. The app allows users to buy, sell, and rent properties, making it easier to get on Dubai’s property ladder. Huspy has raised over $37 million in several seeding rounds, with a team of 101 to 250 employees dedicated to transforming real estate transactions.
Nümi
Launched in 2021, Nümi is a startup transforming Dubai’s entertainment ecosystem with its online gaming site for user-generated content. Nümi aims to create an immersive platform where gamers can share experiences and stream content in the metaverse. With over 100 employees, the startup raised $20 million in a January 2023 seeding round. Nümi is redefining gaming by fostering a community-driven environment.
Qashio
Qashio, established in 2021, offers financial solutions with physical and virtual corporate cards to customers in the Middle East. These cards help users track spending with expense management features. Trusted by companies like Instashop and Kitopi, Qashio has raised $12 million, with $10 million secured in a November 2022 seed round. The fintech company focuses on saving money for users through spending limits and innovative financial tools.
Tarabut Gateway
Since its inception in 2018, Tarabut Gateway has been redefining financial services through open banking. The startup provides companies with access to open banking APIs, facilitating instant account-to-account payments and offering data-driven insights. With a focus on security and coverage, Tarabut Gateway has raised $58 million, making it a trusted partner for organizations seeking modern banking solutions.
Tabby
Founded in 2019, Tabby is a fintech solutions company in Dubai that offers interest-free monthly payments for online and in-store purchases. Beyond payment plans, Tabby also enables users to sell products on their platform. The startup has gained significant investor interest, raising $58 million in its latest seeding round, valuing the company at approximately $660 million. Tabby has reshaped the shopping experience in Dubai within just four years.
YallaMarket
YallaMarket, an e-commerce startup launched in 2021, offers quick and easy access to groceries in Dubai. Customers can place orders and receive deliveries within 15 minutes. With a user-friendly web design, YallaMarket enhances the shopping experience, providing a rich catalog of groceries and toiletries. The company has raised $2.2 million in recent seeding rounds and operates with a team of 11 to 50 employees.
Zenda
Zenda, established in 2021, aims to streamline the school payment process for families in Dubai. The fintech app offers parents the convenience of paying school fees now or later, simplifying financial management. With a team of 50 employees, Zenda (legally Nexopay Technologies Pvt Ltd) focuses on ensuring financial wellness for families. The company has raised $9.6 million since its launch, making school payments hassle-free.
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