- Rapyd, the leading FinTech-as-a-service partner, is celebrating its first year in Dubai at Dubai International Financial Centre (DIFC).
- In the wake of this milestone, Rapyd reports a four-fold increase in its workforce, growing from an initial team of 15 to over 70 employees since its DIFC establishment in 2022.
- This growth is testament to Dubai and DIFC’s appeal as a top global talent hub attracting the best people in finance and FinTech sectors.
Dubai, UAE; 25 May 2023 – Rapyd, the leading FinTech-as-a-service partner, has reported a four-fold employee growth since establishing a year ago at DIFC, the leading financial hub in the Middle East, Africa and South Asia (MEASA). This growth demonstrates DIFC’s role as a preferred global talent hub for the finance and FinTech sectors.
Rapyd started its journey in Dubai in 2022, making history as the first Israeli-founded company to receive an In-Principal Authority from the Dubai Financial Services Authority (DFSA), which granted it the right to operate as a regulated entity in the UAE. This monumental step for Rapyd, enabled by DIFC’s future-forward ecosystem for FinTech and Innovation, has also paved the way for other businesses to expand within the region.
To commemorate its first year and growing presence in Dubai, Rapyd announced a substantial workforce expansion, with a four-fold growth in one year, from 15 to over 70 employees. This move aligns with the FinTech firm’s preparation for its next growth stage in the UAE and the Middle East, further instilling confidence in its ability to attract top global talent to Dubai.
Arik Shtilman, Rapyd Co-Founder and CEO, said: “Our first year in Dubai in partnership with DIFC has further supported our commitment to innovation and the ability to develop the most advanced global FinTech platform globally. The growth we’ve experienced underlines the untapped potential in this region. Our mission is simple: provide businesses of all sizes with seamless FinTech experiences, aiding their expansion locally and internationally. As we move forward in Dubai and beyond, we aim to continue providing the FinTech tools any business needs to liberate global commerce.”
Rapyd’s innovation in providing FinTech solutions has been recognised in the industry, recently named as one of the top Cross Border Payment Companies by FXC Intelligence for the fourth consecutive year.
Mohammad AlBlooshi, CEO of DIFC Innovation Hub, said: “Congratulations to Rapyd on their first year of growth as they attract new talent to Dubai and shape the future of finance from DIFC. There are 1,369 financial and innovation related entities active and operating within DIFC, up 22 per cent YoY in 2022, making the innovation sector the fastest growing sector in DIFC. It is encouraging to see FinTech firms such as Rapyd innovate and grow at pace alongside our thriving global community of FinTech and Innovation companies.”
Rapyd’s expansion in Dubai is contributing to the UAE’s digital transformation goals and supports the country’s status as a global hub for innovation.
About Dubai International Financial Centre
Dubai International Financial Centre (DIFC) is one of the world’s most advanced financial centres, and the leading financial hub for the Middle East, Africa and South Asia (MEASA), which comprises 72 countries with an approximate population of 3 billion and a nominal GDP of USD 7.7 trillion.
With a 16-year track record of facilitating trade and investment flows across the MEASA region, the Centre connects these fast-growing markets with the economies of Asia, Europe and the Americas through Dubai.
DIFC is home to an internationally recognised, independent regulator and a proven judicial system with an English common law framework, as well as the region’s largest financial ecosystem of almost 27,000 professionals working across over 2,900 active registered companies – making up the largest and most diverse pool of industry talent in the region.
The Centre’s vision is to drive the future of finance. Today, it offers one of the region’s most comprehensive FinTech and venture capital environments, including cost-effective licensing solutions, fit-for-purpose regulation, innovative accelerator programmes, and funding for growth-stage start-ups.
Comprising a variety of world-renowned retail and dining venues, a dynamic art and culture scene, residential apartments, hotels and public spaces, DIFC continues to be one of Dubai’s most sought-after business and lifestyle destinations.
About Rapyd
Rapyd lets you build bold. Liberate global commerce with all the tools your business needs to create payment, payout and FinTech experiences everywhere. From Fortune 500s to ambitious business and technology upstarts, our payments network and powerful FinTech platform make it easy to pay suppliers and get paid by customers—locally or internationally.
With offices worldwide, including Tel Aviv, Dubai, London, Iceland, San Francisco, Miami and Singapore, we know what it takes to make cross-border commerce as easy as being next door. Rapyd simplifies payments so you can focus on building your business.