Weeks after Stripe's latest funding round, which took the company's worth to $95 billion, the Silicon Valley fintech company has chosen Dubai for its first expansion into the Middle East and North Africa.
Stripe, founded in 2010 by Irish brothers Patrick and John Collison, is used by more than 50 companies, with each company averaging transactions worth over a billion dollars. Companies using the payment platform include Google, Uber, Amazon and Maersk.
The case is not different in UAE. Several companies are already using its services, the company said. Some of which include gym management software GloFox and ChatFood, the online food ordering platform.
The company revealed that it was venturing into the market in partnership with Dubai-based payments processor Network International.
UAE in focus
Population: 9,770, 529 (2019)
GDP: $421.142 billion (2019)
GDP per capita: $43,000
Inclusion Times Newsletter
Join the newsletter to receive the latest updates in your inbox.