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Tiger Global Makes Latest Bet on Open Banking With Mideast Deal

  • New York investment firm leads funding round for Tarabut
  • Fintech firm plans to expand into Saudi Arabia, North Africa
Inside The Offices Of Fintech Group AG As German Financial Technology Industry Grows
Photographer: Krisztian Bocsi/Bloomberg

Tiger Global Management led a fundraising round for Middle East fintech firm Tarabut Gateway, adding to its series of deals involving open-banking startups around the world in the past few months. 

As part of a rare investment in the region for the New York-based firm, Tarabut has raised $12 million from backers that also include the Dubai International Fintech Fund, the investment vehicle of the emirate’s financial center, according to a statement on Tuesday.