Having seen success in Bahrain, Daleel, the personalised financial marketplace, has expanded to the UAE to help customers in the country simplify their financial decision-making by bridging the gap between customers and financial institutions.
The Middle East personal financial services market is estimated to have a value of $44.4billion, however, in the eyes of Daleel, there is still room for improvement and opportunity in the open banking and tech development areas. Increasing personalisation for customers with trusted financial institutions, Daleel provides a cost-effective way to acquire customers and create tailored products based on real data. The company also intends to secure an open finance licence in 2025, to provide enhanced integration.
Currently, its data-driven technology sifts through thousands of offers across credit cards, mortgages, savings accounts and more before delivering bespoke and actionable insights within seconds. This offers a unique and transparent ecosystem where better financial outcomes are created, and decisions can be made in minutes rather than days and weeks.
Launch in the UAE
Fittingly, its official UAE launch took place at Visa’s CEMEA region Market Support Center in Dubai, with the company having won first place and $40,000 funding at the 2023 Visa Everywhere Initiative finals in Saudi Arabia.
PK Shrivastava, CEO and co-founder of Daleel said: “Launching in the UAE is a landmark moment for the company and we are pleased to do so alongside Visa, who have championed us from the start. Furthermore, there is a real demand across the region for personalised finance and we believe this is the right time to expand our marketplace to connect more customers with the best financial solutions.
“We look forward to contributing to the ‘We the UAE 2031’ vision and the UAE’s Digital Economy Strategy, driving greater financial collaboration, innovation and inclusion for the country’s economy.”
Salima Gutieva, Visa’s VP and country manager for UAE said: “We welcome Daleel to the UAE and are delighted that a company we have supported through its early stages is scaling into a regional fintech player. Technology that makes people’s lives easier and fosters greater trust and transparency in finance is essential. We look forward to collaborating with Daleel to further financial awareness and enhance personalisation.”
Supporting Daleel
Daleel is also backed by proven investors such as Flat6Labs and Salica. The hosted launch event featured:
- Daleel co-founders PK Shrivastava (CEO) and Ridaa Shah (COO)
- Helal Lootah (co-CEO and co-founder of Lune Technologies)
- Chris Michael (co-CEO and co-founder of Ozone API)
- Arran Summerhill (co-founder at Holo)
- Visa CEMEA’s James Ashton-Smith, head of digital partnerships and ventures
