Digital wallet Hubpay secures a USD 20 mln investment

Thursday 10 February 2022 14:07 CET | News

UAE-based digital wallet Hubpay has netted USD 20 million in its Series A funding round, led by Signal Peak Ventures.

With the capital, Hubpay plans to expand its team and international presence, particularly in Asia and Africa. It currently has offices in the UAE, the UK, and Pakistan.

The company offers a digital wallet and data-driven financial products. It claims it was the first startup to be licensed in the UAE for digital money services, which it received in 2020. Currently, the fintech company is in principle approval for an EMI license in Pakistan.

Through its app, users can send money from the UAE to family and contacts abroad, including the Philippines, Egypt, Pakistan, Nepal, India, Bangladesh, Sri Lanka, and the UK. Its features also include bill payments and instant messaging. Later this year, the company hopes to release financial products to remittance receivers that address customer needs for financing and insurance.

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Keywords: digital wallet, money transfer, money remittance, EMI licence, fintech
Categories: Payments & Commerce
Countries: World
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