Tarabut Gateway operates a regulated open banking platform that links a regional network of banks and fintechs through a universal application programming interface (API). The platform enables secure data flow and connectivity, supports the creation of a large ecosystem, and aims to improve the consumer experience. It is building open banking infrastructure across Saudi Arabia, the UAE, and Bahrain, with plans for further MENA expansion. The company has achieved over 60% market coverage in Saudi Arabia through partnerships with Alinma Bank, Arab National Bank, Saudi National Bank and Riyad Bank. Led by Founder and CEO Abdulla Almoayed, Tarabut Gateway intends to use new funding to bolster its presence in the Saudi market, attract top talent, and foster strategic partnerships within the Kingdom. The company recently completed a $32M Series A financing to support these initiatives. Tarabut Gateway is an Open Banking platform licensed as an Account Information Service Provider and Payment Initiation Service Provider. The company has built a microservices‑based platform that offers a single API for multi‑jurisdictional access to banking data. It went live with its API infrastructure in December 2019 and expanded its presence across the MENA region in October 2020, establishing offices in Abu Dhabi and Dubai. Tarabut maintains offices across Bahrain, the UAE and the UK and is headquartered in Dubai. The firm will use the latest funding to grow its technology and leadership teams. Founder and CEO Abdulla Almoayed says the product targets the complex, highly regulated MENA market by enabling banks and fintechs to remain compliant while accessing aggregated banking data. Tarabut Gateway provides an Open Banking API that allows third-party financial services providers to securely access financial data and develop new apps and services. It offers tools to facilitate and distribute personalized financial services and helps partner banks accelerate technological partnerships at significantly reduced costs. The company was established in 2017 and maintains offices in Abu Dhabi, Dubai, London, and Manama. Tarabut Gateway secured $13M in Seed funding and will use the proceeds to support regional expansion and to develop its current product offerings. As part of its growth plan, the business aims to hire 40 additional team members across MENA by the end of 2021. CEO and founder Abdulla Almoayed framed Open Banking as a catalyst for transforming bank–fintech interactions and for positioning MENA in the global fintech arena.

Total raised

$57M

Funding rounds

3

Latest round

Series A

Latest activity

May 2023