For new start-ups in 2022, the Middle East and North Africa (MENA) area is proving to be a popular option. In June 2022, startups in the MENA region collected an astounding $323.7 million across 66 deals where US investors were the most active foreign investors.

Mamo, a UAE-based FinTech and financial services platform for SMEs, has been granted regulatory approval to operate from Dubai International Financial Centre (DIFC), the leading global financial centre in the Middle East, Africa and South Asia (MEASA) region.

These five businesses will join a network of over 300 startups that have taken part in the award-winning Start Path startup engagement program. They will be able to collaborate with Mastercard’s global ecosystem of banks, merchants, partners, and digital players to deliver and scale open banking solutions. Start Path alumni are now entering public markets, achieving unicorn status.

Founded as a next-generation digital ecosystem, re.life develops smart platforms that aim to simplify B2B and B2C transactions as well as provide individual users better access to services. re.life market is the company’s second platform, which has set a new benchmark for the recyclables trading industry. As a virtual marketplace for recyclables trading, the platform eliminates the middleman.

Hub71, Abu Dhabi’s global tech ecosystem, has accepted 16 startups to join its growing community as part of the Emirate’s efforts to position itself as a leading innovation hub.