Hubpay operates a cross-border digital wallet aimed at driving financial inclusion across MENAP by offering zero-cost domestic and international remittances. The company leverages transaction volumes and data to build bespoke financial products and has multiple products in the pipeline, including financing and insurance solutions for remittance receivers. Hubpay was founded in September 2019 and maintains offices in Dubai, Abu Dhabi, Karachi and London. It was the first startup to obtain a full Category 3c license in the UAE in 2020 and holds In Principle Approval for an EMI license in Pakistan. The company says it will use the Series A proceeds to grow the team and expand internationally, with planned expansion across Asia and Africa in 2022. Hubpay positions its mission around financial inclusion and aligns product development with relevant UN Sustainable Development Goals.

Total raised

$20M

Funding rounds

1

Latest round

Series A

Latest activity

Feb 2022