Financial news

Hub71, Abu Dhabi’s global tech ecosystem, and Wio Bank PJSC, the region’s 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 Bank becomes the official banking partner of Hub71. It enables startup founders to benefit from expert mentorship and commercialisation opportunities that foster innovative new products and services in Abu Dhabi.

Ahmad Ali Alwan, deputy CEO of Hub71, said: “Our partnership with Wio Bank further solidifies our commitment to making Abu Dhabi an attractive destination for startups to do business. 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.”

By streamlining the banking process, Hub71 and Wio are making it easier for startups in Abu Dhabi to access funding and essential banking products. This in turn supports 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.

Supporting business growth and development

Jamal Al Awadhi, chief operating and experience officer, Wio, commented: “Together with Hub71, we embark on a shared mission to empower startups in the region. We recognise the significant impact made by the global startup community and firmly believe that by simplifying access to funding and essential banking products, we have a unique opportunity to nurture their growth and facilitate their paths to new achievements.

“Through our collaboration with Hub71, we commit to delivering meaningful banking solutions that truly make a difference. We want to enable startup owners to thrive and succeed on their entrepreneurial journey.

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. Finally, 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.