Hubpay is a financial technology company based in the United Arab Emirates, specializing in digital payment solutions tailored for both consumers and small to medium-sized businesses in the MENA region. The company was one of the first in the UAE to be licensed to provide Electronic Money Services and has positioned itself to enhance the customer experience in remittance and payment solutions.
Hubpay was founded in 2020 and is headquartered in Abu Dhabi, United Arab Emirates. The company has experienced rapid growth since its inception, becoming the first independently regulated FinTech in some of its operating markets. Hubpay has expanded its presence with offices in Dubai, Abu Dhabi, Karachi, and London.
Hubpay has successfully raised significant funding to support its growth:
Total funding raised: $25.86 million
Latest funding round: Series A - III, raising $1.5 million in May 2024
Major funding milestone: $20 million Series A round in February 2022
Hubpay offers a range of financial services focused on cross-border payments and remittances:
Digital wallet: A cross-border digital wallet enabling zero-cost remittances
International payments platform: Supports transactions in over 85 currencies
Corporate FX services: Foreign exchange management for businesses
Collect & Remit solution: Tailored for African businesses to boost Africa-UAE trade
Key features include:
Regulatory compliance (PCI DSS, AML, KYB)
Data encryption and secure transactions
Real-time rates and automated reporting
Hubpay continues to innovate and introduce new features:
Zero-cost remittances to drive financial inclusion
Development of data-driven financial products
Hubpay emphasizes:
Financial inclusion: Focus on providing services to underbanked populations
Regulatory compliance: Pro-regulation stance and strong relationships with regulators
Innovation: Leveraging technology to solve financial challenges in emerging markets
Hubpay serves a diverse user base:
Businesses: Primarily companies needing to make international payments to suppliers, partners, and employees
Individuals: Expats and migrant workers in the UAE and other operating markets
Focus on emerging markets: Particularly in the Middle East, North Africa, and South Asia regions
The company has received positive feedback from various sectors, including construction, automotive, and finance industries, praising its efficiency, customer support, and impact on cash flow management.
Hubpay
By HUBPAY LIMITED
