Dubai Looks to Challenge for Capital of Fintech

Dubai is quickly becoming a destination for fintech companies as the country has seen a surge in startups the last three years; according to Arif Amiri, CEO of Dubai International Financial Centre Authority (DIFCA), the country hosts 1,715 companies and banking assets have risen from $50 billion to $150 billion; financial services contributes 12% to gross domestic product, by 2024 that number is set to increase to 18%; Gareth Lewis, CEO and co-founder of Delio, which helps firms getting investment, told CNBC Thursday, “there’s a fantastic opportunity in the Dubai region purely around the appetite for private investment.” Source