Introduction
Daleel, a personalized financial marketplace that was initially established in Bahrain, has made its formal debut in the United Arab Emirates market with the backing of significant investors such as Flat6Labs and Salica for business. Daleel, well-known for its capacity to connect consumers with customized financial products, has achieved substantial traction in its native country. The company currently focuses on the vast personal finance market in the Middle East, estimated to be valued at $44.4 billion.
The platform launch in the United Arab Emirates occurred at Visa’s CEMEA Market Support Center in Dubai, which was yet another significant achievement for Daleel. The company received a lot of attention from the local community after it won first place and received forty thousand dollars in funding at the finals of the Visa Everywhere Initiative in Saudi Arabia in 2023. Several major investors, including Salica and Flat6Labs, are sponsoring the expansion of Daleel. Daleel’s co-founders, CEO PK Shrivastava and COO Ridaa Shah, were the prominent individuals who attended the inaugural ceremony. Other notable players from the financial technology and financial sectors were also present.
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Because Daleel’s staff possesses knowledge in open banking, finance, and technology, the company has enhanced its platform to serve the regional market better. With the help of their data-driven system, they can quickly match customers with various financial products, such as credit cards, mortgages, and savings accounts, and provide them with personalized options in a matter of seconds. This transparency and efficiency is beneficial to consumers while also providing financial institutions with more cost-effective ways to attract customers and develop products that are guided by data.
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Daleel plans to secure an open finance license by 2025. This will enable the company to integrate with financial institutions in an even more profound manner. The company’s ultimate objective is to construct a financial ecosystem in which decisions that were previously made in a matter of weeks may now be made in a matter of minutes, enabling users to achieve better financial outcomes.
Industry Comments
Reflecting on the launch, PK Shrivastava said, “Launching in the UAE is a landmark moment for the company, and we are pleased to do so alongside Visa, who have championed us from the start. There is a real demand across the region for personalized finance, and we believe this is the right time to expand our marketplace to connect more customers with the best financial solutions”.
FAQ
What is Daleel?
Daleel is a personalized financial marketplace that connects consumers with various financial products, such as credit cards, mortgages, and savings accounts. It uses a data-driven system to find the best options for each customer.
Where is Daleel available?
Daleel was initially established in Bahrain and has recently made its debut in the United Arab Emirates market.
What are the benefits of using Daleel?
Daleel benefits both consumers and financial institutions. Consumers can find personalized financial products quickly and easily. Financial institutions can attract new customers and develop data-driven products.
Conclusion
Daleel’s launch in the UAE marks a significant step forward for the company. By taking advantage of technology and data, Daleel aims to simplify the process of finding the right financial products for individuals. Their platform helps people make informed decisions quickly and easily, ultimately improving their financial well-being. With continued growth and innovation, Daleel has the potential to revolutionize the way people access and manage their finances in the Middle East and beyond.
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