Emirati financial data analytics company Lune has secured $1.5 million to fuel its expansion in the Middle East and North Africa (MEA) region.

The new capital has been raised from Dubai Future District Fund (DFDF), Plus Venture Capital, Reach International, Judah Ventures and a group of family offices and angel investors, according to a statement.

The funding will be directed towards the development of the start-up’s product suite, the Dubai-based firm said.

The start-up provides analytical data in the UAE and Saud Arabia. It has plans to expand into Oman, Qatar, Kuwait and Egypt.

“This funding will propel our regional expansion, product development and mission to revolutionise the financial services landscape,” said Helal Tariq Lootah, Co-CEO and Co-Founder of Lune.

Lune’s solution enables traditional banks and fintech firms to make decisions based on data, as well as increase their engagement with end users, according to Amer Fatayer, Managing Director – Investment Team at Dubai Future District Fund.

(Writing by Cleofe Maceda; editing by Seban Scaria) seban.scaria@lseg.com