HUB71, Wio Bank to enhance banking for tech startups in Abu Dhabi

HUB71, Wio Bank to enhance banking for tech startups in Abu Dhabi

ABU DHABI, 26th July, 2023 (WAM) -- Hub71, Abu Dhabi’s global tech ecosystem, and Wio Bank, the region’s first platform bank, have launched a strategic partnership to transform the banking experience for startup founders in the capital.

Designed to enhance bank account processes for SMEs, Wio becomes the official banking partner of Hub71, enabling startup founders to benefit from expert mentorship and commercialisation opportunities that foster innovative new products and services in Abu Dhabi.

By streamlining the banking process, Hub71 and Wio are making it easier for startups in Abu Dhabi to access funding and essential banking products that support the growth and development of early-stage innovative tech businesses.

Wio Bank was set up with the core mission of contributing to the future readiness of the SME segment in the UAE. As an official banking partner, Wio will streamline the bank account opening process when startups join Hub71. The digital bank will also participate in Hub71 events and initiatives that align with its growth strategy.

Ahmad Ali Alwan, Deputy CEO of Hub71, said, “By collaborating with an Abu Dhabi-based digital platform that is leading the future of business banking, we are opening the door to robust banking and commercial opportunities for our startup community. This partnership is a prime example of a powerful combination within Abu Dhabi’s tech ecosystem that fosters startup growth in the UAE’s capital.”

Jamal Al Awadhi, Chief Operating and Experience Officer of Wio, said that Wio aims to empower startups in the region by providing simplified access to funding and essential banking products, facilitating their growth and success on their entrepreneurial journey. The collaboration with Hub71 is geared towards delivering meaningful banking solutions that make a difference, enabling startup owners to thrive and achieve new milestones.

Hub71 startups will also have access to Wio’s network of subject matter experts to receive mentorship and strategic advice to support business growth and development. With access to expert guidance and insights, founders can better navigate unique challenges, make more informed decisions, and unlock new opportunities for the economic growth of Abu Dhabi.