DIFC-based TWIG Launches Region’s First Automated Savings Platform after securing Seven-Digit Investment and DFSA Approval – Business – Economy and Finance

– TWIG, primarily based out of Dubai Worldwide Monetary Centre (DIFC), launches its extremely anticipated and revolutionary financial savings platform that enables people to automate their financial savings for improved monetary wellness.

– TWIG raises a seven-digit pre-seed spherical, exceeding USD 1 Million – from VCs, household places of work and all-star angels. 

– TWIG granted Innovation Testing Licence from the Dubai Monetary Companies Authority 

TWIG Options Ltd (“TWIG”), a monetary know-how start-up primarily based out of Dubai Worldwide Monetary Centre (DIFC), the main international monetary centre within the Center East, Africa and South Asia (MEASA) area, has obtained an Innovation Testing Licence (ITL) from the Dubai Monetary Companies Authority (DFSA), the impartial regulator of monetary companies performed in or from DIFC. The ITL allows TWIG to check and develop their services in a managed regulatory atmosphere.

“Acquiring an Innovation Testing Licence is a significant milestone for TWIG, and we’re grateful to be a part of DIFC’s main ecosystem that’s paving the best way for the way forward for finance,” mentioned Chafic Idriss, CEO of TWIG. 

Mohammed Alblooshi, Head of DIFC Innovation Hub and FinTech Hive, commented: “DIFC stays on the forefront of rising its ecosystem for FinTech and Innovation corporations to thrive and develop as we collectively drive transformation and form the way forward for finance. We’re thrilled to welcome TWIG as they be part of us to additional increase their enterprise right here in Dubai and past.”  

Along with acquiring DFSA’s ITL, TWIG has secured an undisclosed pre-seed spherical exceeding USD 1 million, backed by Phoenician VC, MMK Capital, Soul Ventures, regional household places of work and a few of the area’s most famous angel traders, all of whom rapidly recognised the potential of TWIG’s platform to revolutionise the best way shoppers save and handle their funds. The funding can be used to assist the corporate’s ongoing enlargement efforts and speed up the expansion of its financial savings platform in selling monetary wellness throughout the area.

“We’re thrilled to have the assist of those skilled traders as we proceed to develop and increase our enterprise,” added Idriss. “Our platform has already demonstrated its skill to make saving straightforward, automated and accessible for everybody; and with this new funding, we will additional speed up our development and convey our answer to extra shoppers across the Center East and North Africa area.”

TWIG formally launched its transformative platform, bringing a brand new stage of comfort and intelligence to non-public finance administration. With TWIG, people can simply plan, observe, save and obtain their monetary targets. The platform integrates with present financial institution accounts to make the consumer expertise seamless. Moreover, TWIG is collaborating with companies to embed its revolutionary private finance answer into their buyer journeys throughout the globe. This method to non-public finance is about to revolutionise the trade and make managing funds easier than ever earlier than.

Obtain TWIG’s good automated financial savings platform from the App Retailer and Google Play Retailer or electronic mail information@twig.ae to embed the area’s greatest private finance answer in any consumer-facing platform.

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