Dubai, UAE: Tarabut Gateway, MENA’s leading open banking platform, unveils its brand refresh, ushering in a new era as “Tarabut.” The brand refresh reinforces the company’s unique positioning in redefining open banking and connecting the entire financial ecosystem to create an accessible, personalised, and interconnected financial landscape.
The name Tarabut – from the Arabic word for "interconnection" – embodies the company's commitment to fostering connectivity and innovation within the financial industry. A natural evolution following the company’s $32 million Series A fundraise in May, Tarabut's brand transition aligns with its core values of interconnectedness and promoting synergy in the sector.
Abdulla Almoayed, Founder and Chief Executive Officer of Tarabut, said:
“Our brand refresh reflects our vision for open banking in MENA – one that is accessible, connected, and personalised. What is the hallmark of a successful open banking system in the region? Creating a fully connected ecosystem with personalised finance at people's fingertips, empowering individuals to take control of their financial lives. Tarabut has been the pioneer and arbiter of this future, and our new name represents what drives us."
Since the company’s inception in 2018 in Bahrain, Tarabut has expanded across its home market and to Saudi Arabia and the UAE. Tarabut serves over fifty banks, fintechs and partners in lending, fintech, and beyond. Together with banks, financial institutions, and fintechs, Tarabut is building a connected financial system – enabling new products and services for the ultimate benefit of consumers.
Tarabut stands for unwavering commitment to advancing the financial industry and empowering individuals to take control of their financial futures. Tarabut is devoted to transforming traditional banking and finance towards a radically inclusive, interconnected, and personalised sector.
For more information about Tarabut and our brand refresh, please visit http://www.tarabut.com/blog/the-future-is-tarabut .
About Tarabut
Tarabut is the MENA region's first and largest regulated open banking platform, connecting a regional network of banks and fintechs through a universal API. By offering tools that facilitate and distribute personalised financial services, Tarabut enables financial institutions to build a new world of financial services in the MENA region.
With offices in Bahrain, Saudi Arabia, and the UAE, Tarabut launched its API infrastructure in December 2019 and has already become a dedicated technology partner for leading banks in Bahrain. In October 2020, Tarabut expanded its presence in the MENA region, opening offices in Abu Dhabi and Dubai. In April 2022, Tarabut became the first open banking platform to secure AIS (account information services) and PIS (payment initiation services) Category 4 licenses from the Dubai Financial Services Authority (DFSA). In 2022, the Saudi Central Bank (SAMA) included Tarabut as one of the first participants in its Regulatory Sandbox.
In May 2023, Tarabut successfully completed a $32 million Series A fundraise, led by Pinnacle Capital and supported by Visa, Aljazira Capital, and Tiger Global.
Further information
Thoburns
Tristan Schumann
tg@thoburns.com
