Fintech Galaxy Closes $2M Seed Round for MENA Open Finance Platform

Fintech Galaxy, a UAE-based open finance platform, announced the close of a $2 million seed funding round led by Ahli Fintech, the fintech arm of Jordan Ahli Bank. The platform serves as a connector between fintech startups and financial institutions through open banking APIs, facilitating integration and collaboration in the MENA financial ecosystem. Fintech Galaxy's mission centers on advancing financial inclusion across the region by enabling fintechs to access banking infrastructure and financial institutions to leverage innovative technology partners.

The seed funding will be deployed to expand the platform's capabilities and deepen its presence across MENA markets. The investment by Ahli Fintech, a bank-affiliated fintech entity, illustrates the growing willingness of traditional financial institutions in the region to actively invest in open finance infrastructure. The round reflects increasing momentum for open banking and BaaS adoption in the MENA region, which has lagged behind Europe and North America but is accelerating rapidly.