• MOU signing ceremony between Mohammad Alblooshi, Chief Executive Officer at DIFC Innovation Hub and Abdallah Abu-Sheikh, Founder and Chief Executive Officer at Astra Tech witnessed by Arif Amiri, Chief Executive Officer of DIFC Authority held during the 2nd edition of Dubai FinTech Summit.

Dubai, UAE: Astra Tech, the region’s largest tech ecosystem and fastest growing fintech company, headquartered in Abu Dhabi, has announced the strategic opening of its Dubai Office in DIFC Innovation Hub.  This strategic move positions Astra Tech as the largest fintech entity to become part of the Dubai International Financial Centre’s (DIFC) thriving innovation ecosystem. Further cementing its growth ambitions, the firm signed a Memorandum of Understanding (MoU) with the DIFC Innovation Hub during the 2nd edition of Dubai Fintech Summit held on May 6-7, 2024 at the Madinat Jumeirah, Dubai. The MOU signing ceremony was witnessed by Arif Amiri, Chief Executive Officer of DIFC Authority, while the agreement was signed by Mohammad Alblooshi, Chief Executive Officer of DIFC Innovation Hub and Abdallah Abu-Sheikh, Founder and Chief Executive Officer at Astra Tech.

Astra Tech’s new offices are due to open at DIFC in June 2024, a decision aligning with Astra Tech’s accelerated expansion plans, further driving its commitment to spearheading groundbreaking developments in both the technological and financial sectors. DIFC, renowned for its regulatory prowess and financial acumen, offers an optimal environment that propels growth and fosters innovative impact, and nurtures collaborative ties within the financial sector. The DIFC Innovation Hub, home to over 1,000 innovation and tech firms, provides the ideal platform for Astra Tech to connect with both local and global industry leaders, as the firm embarks on its growth journey.

Abdallah Abu Sheikh, Founder of Astra Tech and Chief Executive Officer of Botim, said: "The opening of our Dubai offices in DIFC’s Innovation Hub reflects Astra Tech’s role in a larger narrative of innovation and indigenous technological advancement. Our vision, shared with DIFC, is to firmly establish the UAE on the global tech map as we build the region’s largest tech ecosystem. We are committed to showcasing that the region has the potential to not only participate in, but lead the technology race and set a global benchmark. Today, Botim is the MENA’S first Ultra platform, developed right here in the region, and we’re on a mission to revolutionize app functionality, access to fintech services and user experience.”

The Botim Ultra app, a cornerstone of Astra Tech’s fintech offering, revolutionises connectivity while championing financial inclusivity through an expansive suite of financial services. With over 150 million users across 155 countries using Botim services today, Astra Tech is a pivotal component of the UAE government’s initiative to position the nation amongst the world's most innovative.

Mohammad Alblooshi, Chief Executive Officer of DIFC Innovation Hub, said:  “From inception, DIFC Innovation Hub’s mission has been to cultivate a vibrant ecosystem where innovation can flourish. Welcoming Astra Tech into our community underpins our ongoing commitment to nurturing cutting-edge companies that are poised to redefine industry standards and drive significant growth and economic contribution within the regional industry landscape.”

Astra Tech’s move to DIFC coincides with the Centre’s 20th anniversary, a milestone year that has seen DIFC report a historic 34% growth of active companies establishing in the Centre, totaling 5,523 including 1,451 newcomers in 2023 alone[1]. Astra Tech is set to positively contribute to DIFC’s eco-system enhancements and its role as a global hub for innovation and technological advancement.

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About Astra Tech:

Astra Tech is the MENA region's leading consumer technology holding group, dedicated to transforming everyday services with its revolutionary Ultra Platform. In 2022, the group acquired PayBy, Rizek, and the VoIP app Botim, culminating in the creation of the Ultra App under Botim's umbrella.

Today, Botim operates in 155 countries, offering free end-to-end encrypted VoIP calling and integrating additional services seamlessly such as international money transfers, bill payments, UAE visa services, and more. Astra Tech remains steadfast in its mission to advance technology and enhance the user experience in the region through continuous innovation.

About Dubai International Financial Centre

Dubai International Financial Centre (DIFC) is one of the world’s most advanced financial centres, and the leading financial hub for the Middle East, Africa and South Asia (MEASA), which comprises 72 countries with an approximate population of 3bn and an estimated GDP of USD 8trn.

With a 20-year track record of facilitating trade and investment flows across the MEASA region, the Centre connects these fast-growing markets with the economies of Asia, Europe and the Americas through Dubai. 

DIFC is home to an internationally recognised, independent regulator and a proven judicial system with an English common law framework, as well as the region’s largest financial ecosystem of over 41,500 professionals working across over 5,500 active registered companies – making up the largest and most diverse pool of industry talent in the region. 

The Centre’s vision is to drive the future of finance through cutting-edge technology, innovation, and partnerships. Today, it is the global future of finance and innovation hub offering one of the region’s most comprehensive FinTech and venture capital environments, including cost-effective licensing solutions, fit-for-purpose regulation, innovative accelerator programmes, and funding for growth-stage start-ups.  

Comprising a variety of world-renowned retail and dining venues, a dynamic art and culture scene, residential apartments, hotels and public spaces, DIFC continues to be one of Dubai’s most sought-after business and lifestyle destinations. 

For further information, please visit our website: difc.ae, or follow us on LinkedIn and X @DIFC. 

For media enquiries, please contact:   
Samia Ahmad
Assistant Manager, Marketing at DIFC Innovation Hub
E: samia.ahmad@difc.ae

[1] Dubai's DIFC attracts broader range of new tenants | Reuters.