- Astra Tech announces strategic office opening in DIFC Innovation Hub aligning with accelerated expansion plans.
- MoU signing ceremony between Mohammad Alblooshi, Chief Executive Officer at DIFC Innovation Hub and Abdallah Abu-Sheikh, Founder and Chief Executive Officer at Astra Tech, held during the 2nd edition of Dubai FinTech Summit.
Dubai, UAE – 22 May 2024: Astra Tech, the region’s largest tech ecosystem and fastest growing fintech company, headquartered in Abu Dhabi, has announced the strategic opening of its Dubai Office in DIFC Innovation Hub. This strategic move positions Astra Tech as the largest fintech entity to become part of the Dubai International Financial Centre’s (DIFC) thriving innovation ecosystem. Further cementing its growth ambitions, the firm signed a Memorandum of Understanding (MoU) with the DIFC Innovation Hub during the 2nd edition of Dubai Fintech Summit held on May 6-7, 2024 at the Madinat Jumeirah, Dubai. The agreement was signed by Mohammad Alblooshi, Chief Executive Officer of DIFC Innovation Hub and Abdallah Abu-Sheikh, Founder and Chief Executive Officer at Astra Tech.
Astra Tech’s new offices are due to open at DIFC in June 2024, a decision aligning with Astra Tech’s accelerated expansion plans, further driving its commitment to spearheading groundbreaking developments in both the technological and financial sectors. DIFC, renowned for its regulatory prowess and financial acumen, offers an optimal environment that propels growth and fosters innovative impact, and nurtures collaborative ties within the financial sector. The DIFC Innovation Hub, home to over 1,000 innovation and tech firms, provides the ideal platform for Astra Tech to connect with both local and global industry leaders, as the firm embarks on its growth journey.
Abdallah Abu-Sheikh, Founder of Astra Tech and Chief Executive Officer of Botim, said: “The opening of our Dubai offices in DIFC’s Innovation Hub reflects Astra Tech’s role in a larger narrative of innovation and indigenous technological advancement. Our vision, shared with DIFC, is to firmly establish the UAE on the global tech map as we build the region’s largest tech ecosystem. We are committed to showcasing that the region has the potential to not only participate in, but lead the technology race and set a global benchmark. Today, Botim is the MENA’S first Ultra platform, developed right here in the region, and we’re on a mission to revolutionize app functionality, access to fintech services and user experience.”
The Botim Ultra app, a cornerstone of Astra Tech’s fintech offering, revolutionises connectivity while championing financial inclusivity through an expansive suite of financial services. With over 150 million users across 155 countries using Botim services today, Astra Tech is a pivotal component of the UAE government’s initiative to position the nation amongst the world’s most innovative.
Mohammad Alblooshi, Chief Executive Officer of DIFC Innovation Hub, said: “From inception, DIFC Innovation Hub’s mission has been to cultivate a vibrant ecosystem where innovation can flourish. Welcoming Astra Tech into our community underpins our ongoing commitment to nurturing cutting-edge companies that are poised to redefine industry standards and drive significant growth and economic contribution within the regional industry landscape.”
Astra Tech’s move to DIFC coincides with the Centre’s 20th anniversary, a milestone year that has seen DIFC report a historic 34% growth of active companies establishing in the Centre, totaling 5,523 including 1,451 newcomers in 20231 alone. Astra Tech is set to positively contribute to DIFC’s eco-system enhancements and its role as a global hub for innovation and technological advancement.
