THE MIDDLE EAST’S

33. Tarabut

Description: Open banking platform
Headquarters: U.A.E.
Date of Establishment: 2018
Founder: Abdulla Almoayed

Open banking platform Tarabut offers real-time access to financial data and payment infrastructure, allowing banks, lenders, fintechs, and startups to create advanced financial products. It operates in the U.A.E., Bahrain, and Saudi Arabia. It has achieved over 90% bank coverage in Bahrain and Saudi Arabia. It had over 715 sign-ups to the developer portal as of December 2023, a 186% increase from 2022. Tarabut closed a $32 million Series A funding round in 2023 from investors, including Aljazira Capital, Visa, and Tiger Global, bringing its total funding to $57 million.