The UAE is much more than its lavish lifestyles, luxurious cars, and gourmet food, It is a nation with a booming start-up culture too. The United Arab Emirates undoubtedly dominates the Fintech UAE startups industry in the whole middle east region and more than half the fintech startups come out of the UAE.
The country majorly focuses on Tech startups and has been home to more than 850 startup launches. The UAE has two renowned financial free zones, namely the Abu Dhabi Global market and Dubai international financial center UAE’s startup ecosystem is extremely innovative and provides an environment for holistic growth.
Additionally, the covid 19 pandemics has taken a major toll on UAE’s startup scenario but there are certain startups that are performing well despite the pandemic. According to the reports, the UAE’s economy is not expected to lift drastically as soon as the pandemic is gone and it might take time to reach the pre-pandemic era.
Best UAE Startups To Watch
We’ve created a list of best performing startups in the UAE to look up to, have a look
1. Tabby
This UAE-based startup offers its clients flexibility and ease and pays for the services they avail in equal monthly installments or defer paying for the things they bought for up to 30 days.
People buying things online or even in offline stores now have the liberty to pay a single deferred payment or pay in installments just because of Tabby. It promotes flexibility and inclusivity so everyone can shop and pay as and when it suits them.
Tabby’s services are not limited to some local brands but cover up to 500 plus globally renowned brands, brands like Toys R Us, IKEA, and many more. Their buy-now-pay-later concept has resonated with a lot of people and there is no looking back for Tabby.
Tabby raised 23 million dollars in the Series A funding and has also announced a successful partnership with the Visa group. Having joined the Saudi Arabian central Bank’s regulatory sandbox, Tabby has received extensive support and appreciation and has created a wave of new ideas in the fintech industry specifically in the UAE.
2. Meddy
This versatile platform allows patients looking for medical assistance to find doctors just with a few clicks. This is an Emirati startup that has received huge fundings due to its user-friendly platform and top notch services.
This application is extremely versatile and offers doctors from every field and speciality, it is a perfect platform for people looking for gynes to endocrinologists and caters to everybody equally. This platform is also extremely useful for service providers i.e. the medical practitioners as Meddy provides them with a hassle-free experience by managing their patient bookings, looking into the insights, and also analyzing their customer reviews.
This service is currently available in Qatar and the UAE and has received funding from Modus Capital, Kasamar Holdings, and many more. The newly induced cash is set to be used in increasing the company’s outreach by targeting areas in the UAE that haven’t been covered under this application’s ambit. While Meddy is already providing services in Sharjah and Dubai, Meddy’s next target is to serve Abu Dhabi and other emirates.
Considering the ongoing Covid-19 pandemic, Meddy has increased its client base exponentially and the patient bookings have almost doubled. Despite increased demand in the market Meddy has never been short on staff and services and is catering to the ones in need with utmost diligence which makes Meddy an undoubtedly suitable name for this list of top startups in the UAE.
3. Avidbeam
Established in the year 2014, Avidbeam came into the market as a video analytics algorithm, and ten improved and established itself as an integrated platform with video analytics services with evolved applications like real-time security intelligence, real-time business insights, and much more.
Their services and evolved technologies are being used extensively in banks, shopping malls, tech parks, police work, and high-security facilities in every field. This extraordinary company was founded by engineers who have deep knowledge about video processing and analysis and have excelled in different sectors like business development too.
Avid Beam creates revenue by providing video analytics services that help in providing security intelligence information to different sectors and even cities. It displays a plethora of features, early-warning systems to the owners, rapid detection of any suspicious event, crowd intelligence, and autonomous vehicle detection. It also creates money by charging for the licenses of the camera services.
4. Repeat
Repeat is a world-class app targeted mainly at restaurants and acts as a loyalty platform for the customers. Repeat has a reward system for the customers who visit a restaurant frequently and spend on their menu. The company analyzes the restaurants’ data and drives insights from there and then sends customers some reminders that help restaurants drive sales.
It is a unique app-based model and out-of-the-box marketing solutions help in gaining customers by rewarding their frequency and the amount spent on orders. It actively utilizes the principles of dynamic personalized pricing.
Repeat establishes a symbiotic relationship between consumers and merchants by providing benefits to both segments. This tech startup increases restaurant revenue and correspondingly provides rewards for loyal customers.
With the recent shift to eCommerce and online services, Repeat has benefitted extensively. Repeat being an online platform noticed a dramatic increase in its user base as Repeat allows its merchant users to gain customer insights and have real-time control of the customer’s profile and the merchants have the flexibility to curate offers for their customers as and when they feel like. They can incentivize the most loyal ones to generate sales as well as increase customers through recommendations by loyal customers.
Repeat works on creating an environment with repeat customers in place of regular customers and allows brands in generating repeat revenue. There is no doubt that the global loyalty market is growing at a recognizable rate therefore, Repeat is set to have a great future if it provides top-notch services.
5. Mamopay
Mamopay is on a mission to promote mindful finance. It empowers its users by providing a platform to easily access all their banking needs. Mamopay was found by three extraordinary minds who ever former google employees, built a platform for easy peer-to-peer payments that helps people send and receive money from friends, family, businesses with just some clicks.
Their platform is a perfect example of simplicity and utility and that is the reason that they have managed to raise huge fundings from renowned investors.
The app also targets people with below-average income, as they are often a victim of getting cash payments which prove to be inefficient, so Mamopay handles this issue by eliminating the cash payment system for them. The recent survey statistics clearly indicate that many regions still face challenges when transferring money online and there aren’t many viable solutions to this problem as of now, so Mamopay comes as a savior in this case, with hassle-free payments and transfers.
Mamopay’s long-term goal is to promote widespread simpleness and ease of money transfer. Imagine sitting at a restaurant and splitting a bill in seconds without any hassle, imagine being an SME owner and receiving payments on a single platform hassle-free, these are the few things that Mamopay works on and is recently trying to launch a system their payments are completed securely just with the person’s phone number or even an email address.
