The firm will bring its growth acceleration strategy to the region’s fast-growing fintech market, fostering the UAE’s ecosystem and enabling the fintechs to deliver their go-to-market plans.

The UAE’s Digital Economy Strategy aims to raise the digital sector's share in the country's gross domestic product (GDP) to over 20% from 9.7% by 2031.

Meanwhile, the UAE's digital economy stands at nearly $38 billion and is forecast to exceed $140 billion by 2031.

Investor funding for fintech start-ups in the MENAP region more than quadrupled from nearly $200 million in 2020 to around $885 million in 2022.

Hence, Archie selected the UAE and wider GCC as a central part of the firm’s long-term ambitions to partner with some of the world’s promising fintechs.

The Co-Founder and CEO of Archie, Steve Brennen, said: “The UAE has set out an ambition to continue to grow and be one of the leading well-regulated and forward-thinking financial services hubs.”

“It’s set to be a prominent part of the global fintech scene, attracting some of the world’s best talent and global investors,” Brennen added.

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