Sharjah Entrepreneurship Center partners with Wio Bank

Monday 28 August 2023 11:58 CET | News

Sharjah Entrepreneurship Center, a government-supported entrepreneurial ecosystem in the UAE, has partnered with Wio Bank aiming to empower ecosystem players.

With this partnership and under the terms of the MoU between the two entities, all Sharjah Entrepreneurship Center (Sheraa) startups benefit from a limited-period offer featuring 90 days of free financial services from Wio Bank, followed by a reduced monthly membership fee compared to the bank’s standard rate.

As part of the MoU, startups and freelancers are able to access all-in-one services to manage salaries, rent, and VAT. This is aimed at enabling them to streamline their financial operations as well as focus on growing their businesses. Moreover, Sheraa’s existing support programs and resources will provide entrepreneurs with an efficient platform to manage their finances and power their entrepreneurial endeavours.

The main mission of this collaboration is to attract and retain entrepreneurs in the UAE by offering them comprehensive services and resources. By encouraging innovation, nurturing thought leadership, and showcasing successful ventures within the UAE, Sheraa and Wio Bank aim to raise UAE’s profile as a globally connected startup hub.

Sharjah Entrepreneurship Center, a government-supported entrepreneurial ecosystem in the UAE, has partnered with Wio Bank aiming to empower ecosystem players.

More about Sharjah Entrepreneurship Center

Sheraa aims to cultivate a pipeline of future changemakers by fostering a culture of experimentation and critical thought. The centre also engages with others in the entrepreneurship community aiming to build a solid and globally connected ecosystem.

The Sheraa programs are tailored to every stage of the entrepreneurial journey, providing the support necessary to turn ideas into reality, and creating a solid foundation on which sustainable businesses and careers can be built.

More about Wio Bank

Based in the UAE, Wio Bank offers a platform with personalised features and integrated services that are built around the needs of the customers, aiming to help them with how they spend, save, and plan.

In March 2023, the bank partnered with UK-based issuer-processor, Paymentology, to support its banking model with customer-centric card payment services for SMEs. Under the partnership, Wio Bank would leverage Paymentology’s in-cloud card issuing platform and data analytics capabilities to launch financial products efficiently and at scale. By working together, the companies are aiming to remove friction for long-underserved SMEs, entrepreneurs, and freelancers, enabling them to open a business account and avoid lengthy wait times.

In January 2023, Wio Bank partnered with First Abu Dhabi Bank (FAB) to offer cash and cheque services to Wio Business customers through FAB’s ATM and CDM network. With its platform, Wio provides a suite of targeted digital-first solutions, with a strong focus on having the needs of growing startups and SMEs met. Through a partnership with FAB, these solutions were enhanced with seamless and secure digital banking options, along with essential cash and cheque handling services. This collaboration leverages FAB's established physical infrastructure for a robust financial ecosystem.

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Keywords:	partnership, banking, digital banking, platform
Categories:	Banking & Fintech
Companies:	Sharjah Entrepreneurship Center, Wio Bank
Countries:	United Arab Emirates

This article is part of category

Banking & Fintech

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