By Delisha Fernandes
An innovative new FinTech acceleration partner, Archie has chosen the UAE as its first global launch market, bringing the firm’s innovative new growth acceleration model to the region’s FinTech market.
The UAE’s Digital Economy Strategy is targeted at increasing the digital sector’s share in the UAE’s GDP from 9.7 per cent to more than 20 per cent by 2031. Currently, the UAE’s digital economy stands at an estimated US$38 billion – by 2031, it is projected to surpass US$140 billion in value.
With this ambition, the region is set to become an even more prominent part of the global FinTech scene, with significant pools of investment and a strong focus on attracting some of the world’s best talent. Investor funding for FinTech start-ups alone in MENAP more than quadrupled from nearly US$200 million in 2020 to approximately US$885 million in 2022.
Co-Founder and CEO of Archie, Steve Brennen said, “The UAE has set out an ambition to continue to grow and be one of the leading well-regulated and forward-thinking financial services hubs. It’s set to be a prominent part of the global FinTech scene, attracting some of the world’s best talent and global investors. Archie wants to help build on that dream and we’re thrilled to be here, and even more excited to get started in unlocking the growth potential for founders and the region as a whole.”
Archie has therefore identified the UAE and wider GCC as a central part of the firm’s long-term ambitions to partner with some of the world’s most exciting FinTechs. Led by some of the world’s leading FinTech growth experts, Archie has launched with an ambition to help the UAE’s ecosystem.
Offering a new partner model to accelerate FinTech growth , Archie will invest its intellectual capital, go-to-market and growth expertise, along with the highly-prized ARCHIE NETWORK in exchange for equity a key differentiator with the FinTech ecosystem, designed specifically to ensure a true partnership with FinTech founders, aligning all interests and focussing efforts on driving success.
