Fintech group UnaFinancial is looking to build its own digital finance app to serve customers in the UAE through a $15m funding round.
Developing fintech services for Europe and the APAC region since 2015, the group is now looking to expand into the Gulf country by launching a second round of funding for its new app after successfully securing initial capital for the startup project.
Natalia Ishchenko, CEO of UnaFinancial, commented: “A wide range of services, strong technological base and the long-term expertise of our team in fintech, IT, banking and investment gives us a competitive edge and confidence in the success of the future product.
“We expect the app to gain over one million customers and more than US $100m in revenue by 2028. We believe that collaboration with regional investors and market experts will help us make a valuable contribution to the local FinTech industry.”
The UAE represents an attractive space for the fintech sector, as it has seen a significant increase in finance app instalments – reaching a 55% growth rate in 2021.
UnaFinancial will aim to tap into this growing demand by building up its new app, which will feature an online investment platform for clients looking into acquiring equities, bonds, and commodities, with a future planned rollout of a digital wallet and credit products.
Viktor Kasianov, who has been designated as the CEO of the project, said: “We understand the UAE’s rich landscape and diverse financial needs, being a melting pot of different cultures and nationalities.
“As such, our platform will not only leverage artificial intelligence to help customers make smart and informed decisions but also provide in-app financial education to empower investors of varying investment expertise.
“Likewise, our app will offer goal-setting and progress-tracking features to allow users to monitor their investments’ performance and visualise their financial journey.”