Daleel, the Middle East’s personalized financial marketplace, has announced its expansion into the UAE. Daleel, which was founded in Bahrain, has seen unprecedented success and popularity in its home fintech market, seamlessly bridging the gap between customers and financial institutions through its innovative platform. Its strategic growth coincides with purpose-built upgrades to help UAE consumers simplify their financial decision making. Daleel is addressing a sizable business opportunity, with the Middle East personal financial services market estimated at US$44.4 billion.
Fittingly, its official UAE launch took place at Visa’s CEMEA region Market Support Center in Dubai, with the company having won first-place and $40,000 funding at the 2023 Visa Everywhere Initiative finals in Saudi Arabia.
Daleel is also backed by proven investors such as Flat6Labs and Salica. The hosted launch event featured Daleel Co-Founders PK Shrivastava (CEO) and Ridaa Shah (COO), Helal Lootah (Co-CEO and Co-Founder of Lune Technologies), Chris Michael (Co-CEO and Co-Founder of Ozone API), Arran Summerhill (Co-Founder at Holo) and Visa CEMEA’s James Ashton-Smith, Head of Digital Partnerships & Ventures, amongst other distinguished guests from banks, VCs and fintechs.
PK Shrivastava, CEO and Co-Founder of Daleel said, “Launching in the UAE is a landmark moment for the company and we are pleased to do so alongside Visa, who have championed us from the start. There is a real demand across the region for personalized finance and we believe this is the right time to expand our marketplace to connect more customers with the best financial solutions. We look forward to contributing to the ‘We the UAE 2031’ vision and the UAE’s Digital Economy Strategy, driving greater financial collaboration, innovation and inclusion for the country’s economy.”
Salima Gutieva, Visa’s VP and Country Manager for UAE, said, “We welcome Daleel to the UAE and are delighted that a company we have supported through its early stages is scaling into a regional fintech player. Technology that makes people’s lives easier and fosters greater trust and transparency in finance is essential. We look forward to collaborating with Daleel to further financial awareness and enhance personalization.”
Daleel’s team includes experienced open banking pioneers, finance professionals and technology developers. Through this deep knowledge and proven regional implementation, Daleel has honed its personalized finance platform into a hassle-free way to match individual customers with trusted financial institutions and products. For financial institutions, Daleel provides a more cost-effective way to acquire customers and create tailored products based on real data. The company also intends to secure an open finance license in 2025, to provide enhanced integration.
Its cutting-edge, data-driven technology sifts through thousands of offers across credit cards, mortgages, savings accounts and more. It then delivers bespoke and actionable insights within seconds. This offers a unique and transparent ecosystem where better financial outcomes are created, and decisions can be made in minutes rather than days and weeks.
