Dubai is becoming a launchpad for startups seeking billion-dollar valuations, with companies in fintech, food technology, proptech, blockchain and deep tech joining its growing unicorn ecosystem, according to Al Bayan.
The latest addition highlighted is Fast, a Dubai-based fintech company valued at $1B. It raised $68M in a Series A round led by Japan’s SBI Group, taking its funding this year to about $119M and more than $150M since its 2019 founding. The company said it processes more than $40B in annual transactions across 125 countries and serves over 3 million digital wallets and 1,000 businesses.
Other Dubai-based unicorns include Kitopi, which has expanded from cloud kitchens into food technology and is valued at about $1.6B, and Property Finder, a proptech platform founded in 2007 with a valuation between $1B and $2.5B, according to Dealroom data cited in the report.
The list also includes Expandio, which raised $250M in a Series A round at a $1.35B valuation to develop smart contact lenses combining extended reality, artificial intelligence and sensing technologies.
Earlier success stories such as Dubizzle Group, Careem and Souq.com helped establish Dubai as a regional digital hub. Swvl also used the emirate as a base during its international expansion before listing on Nasdaq.
The companies reflect Dubai’s shift from consumer platforms toward fintech, AI, blockchain and deep technology, supported by regulation, infrastructure and access to international talent.
Source: Al Bayan
