If you are asked what Dubai is known for, you would probably mention its skyline and stunning tourist attractions. But, the luxury state also has a striving startup market with innovative companies.
In this article, we discuss the fascinating companies in Dubai’s startup scene. From real estate management to Fintech, here are the best startups in Dubai in 2023.
Top 10 Startups in Dubai, UAE in 2023
Bayzat is an HR and insurance company that launched in 2011. The startup company functions in several industries: Employee Benefits, Insurance, and Human Resources. The startup has been on five seeding rounds and bagged ten notable investors. Ultimately, they raised a ballpark figure of $28 million.
Aside from the HR and insurance solutions, Bayzat offers payroll software. Over a thousand companies trust Bayzat. It is an HRMS company that helps run a company and not just the Human resource team. The number of employees in this company is between 101 and 250. Each member is actively involved in the running of the company.
2. Fenix Games
Fenix Games presents a revolutionary concept to the Dubai Web 3.0 gaming scene. The company is geared towards game production but with a twist. Fenix Games is made up of several game developers and Wall Street veterans. The startup aims to redefine the players’ relationship. They ain to make ganers stakeholders through Blockchain technology.
Fenix Games hopes to exploit Blockchain technology to upscale how we relate to games. Fenix Games hopes to leverage interoperability, DAOs, and liquidity across any blockchain. Their team is well-versed with minds from top companies like Activision and EA Gaming. This startup has been able to raise $150 million since its launch in 2022.
3. Flare Network
Founded in 2019, Flare Network is a UAE startup invested in the Blockchain market. The company has made innovative tweaks by developing an EVM Layer 1 blockchain. This technology allows building apps on the Blockchain using data from the internet and other chains.
Flare Network hopes to enhance the utility of the Blockchain. Here are some of its services:
- Web2 Connectivity
- Decentralized Data Feeds
- State Acquisition
- Scalable Smart Contracts
Plus, developers using the Flare Network in exciting ways also get grants. The company has undergone three seeding rounds, and their latest in 2021 brought in $11.3 million.
Huspy is a UAE startup invested in the region’s real estate aspect. The Fintech company allows users to get cheaper loans to buy their desired homes. Huspy enables users to make better home purchases and get on Dubai’s property ladder. The app allows people to buy, sell, and rent properties.
Huspy offers hassle-free mortgages to homebuyers, and its approach moved many investors. The company has been on several seeding rounds; at the latest, they had scored over $37 million. About 101 to 250 employees run the Fintech solution. Users find their desired homes and buy them all in one place at Huspy.
Nümi took to the UAE entertainment stage in 2021. The startup operates in Dubai’s entertainment ecosystem. Nümi creates an online gaming site for user-generated content. Nümi allows gamers to share experiences and stream content in the metaverse. The goal is for gamers to have a site they can be immersed in.
Nümi has about 100+ employees working actively to create a platform that redefines gaming. Since its inception in 2021, the startup company has raised $20 million. The seeding round took place in January 2023 and featured many investors.
Qashio is one of the many startups that launched in 2021. The startup company offers financial solutions to people in the Middle East. Qashio provides physical and virtual corporate cards to its customers. These cards enable consumers to track their spending with expense management solutions.
Since its launch in 2021, Qashio has gained the trust of Instashop, Kitopi, Saif Belhasa, and many more. The Fintech company lets users save money with spending limits and other features. The company has been through several seeding rounds. Qashio has raised $12 million, the latest seed round amassing $10 million in November 2022.
7. Tarabut Gateway
Tarabut Gateway is another fintech startup that took the landscape in 2018. The startup kicked off, intending to redefine financial services through open banking. Open banking enables customers and banks to connect and exchange data easily. Tarabut Gateway offers companies easier access to open banking APIs.
Using Tarabut Gateway offers access to millions of financial accounts. The company supports instant account-to-account payments and provides data-driven insights. Plus, they boast of bank-grade security, unparalleled coverage, and trust. Many organizations consult Tarabut for their banking solutions. This feat has led the startup to raise $ 58 million since its launch.
Tabby sprouted in the UAE business scene in 2019 and is based in Dubai. Tabby is a fintech solutions company that offers its users more time to pay for the items they want. Their services include interest-free monthly payments on online or in-store purchases. Tabby is also more than interest-free payments. Users can also sell with Tabby and much more.
The initiative of the Fintech company has stolen the hearts of many investors. Tabby has been through several seeding rounds. Its latest round brought in a ballpark figure of $58 million. This seeding round increased the company’s valuation to about $660 million. The company has redefined shopping in Dubai with only four years in the Fintech market.
Launched in 2021, YallaMarket is an e-commerce company based in Dubai, UAE. The business model is easy and quick access to groceries. Like big names, the online platform enables users to place orders and get what they need in 15 minutes.
YallaMarket features a catalogue rich in many groceries (perishables). Customers can fill their carts and wait to deliver foodstuffs and toiletries. The company’s web design makes navigation seamless and upscales the shopping experience. YallaMarket has between 11 and 50 employees that cut across various roles. In their latest seeding rounds, they got $2.2 million.
Zenda is a fintech app launched in 2021. The startup aims to streamline the school payment process for families in Dubai. The online platform offers parents the convenience of paying now or later. They focus on simplifying the process of payment. Zenda also provides solutions that help parents manage money and ensure financial wellness.
Zenda’s banking is built entirely from the ground up and backed by about 50 employees. The legal name is Nexopay Technologies Pvt Ltd. The company has raised $9.6 million since it took off.