• Some regional investors have provided a helping hand to the UAE-based fintech startup to regulate better money-spending habits among the residents in the MENA region.
  • With a smart mission, the startup was established in 2022 to help, educate, and warn people by improving their financial knowledge.
  • The customers here can spend, invest, and save smartly using an application and a bank-linked card.
  • The secured funding will allow the company MALY, to expand the business to the other MENA, and GCC markets.

Dubai-based financial wellness startup, MALY has issued a concluding statement about their successful round of pre-seed funding. The investment amount exceeded $1.6 million to extend the services of their monitored savings application and the bank-linked card.

The fintech startup has collected investment from some of the leading groups of investors in the GCC after conveying the expansion and transformation plan to restructure the financial wellness of the UAE residents and increment their services in the different financial markets.

The growing market demand for an operative financial tool in MENA that can monitor healthy investing and saving activity is comparatively high among the people who experience the surge in economic pressure. About 60% of the customers of MALY’s two major marketing targets in the UAE and the KSA do not have a future pension or savings plan.

Mr. Mo Ibrahim, the Co-founder and CEO of MALY said,  “Our mission is simple yet profound: to make improving financial wellness accessible for individuals across the MENA region. The remarkable pre-seed funding we’ve received will enable MALY to kickstart its growth journey. It will enable us to scale efficiently by creating partnerships to reach new customers and drive platform development with enriched product features.”

MALY’s key motto is to bridge the huge gap and let the customers take profitable steps to accomplish and meet a sustainable financial goal by operating an easily accessible and user-centric ally designed with a unique smart debt management system, saving tools, investment tools, and debt managing system.

The financial platform has already received much praise after launching its beta version. The instinctive features and user-friendly interface of MALY’s application have impressed the users from the beginning. With an included feature of a VISA card linked with all the major popular banks in the UAE and a self-operating application that enables effortless savings from the day-to-day purchasing amount through the in-built micro saving tools. The application will also help to control outstanding debts through smart repayment goals, spending through smart VISA cards, and motorized saving deposits, and grasp more techniques for effective investments.

The latest pre-seed funding will lead to generating the latest AI technology for the further growth phase of the company.

“At MALY, we see a unique opportunity to help people across MENA improve their financial wellness, and harnessing the power of AI will be a huge factor in this,” said Mo Ibrahim. He further added, “Since inception, we’ve built in-house data engineering pipelines to embed machine learning into our platform. Aided by recent technological advances, we can now offer data-driven personalized recommendations to help our customers sustain a healthy relationship with their finances.”

The latest pre-seeding round is the most recent phase of an aspiring business development program to ingrain to action by the MALY’s skillful founders and a core team filled with young talent. The startup MALY has collaborated with many renowned brands like NymCARD, DAPI, and VISA with a long-term goal to become the leading business in the following financial wellness division.

About the Startup MALY:

MALY is a UAE-based fintech company in the financial wellness sector, founded in 2022 in the DIFC or Dubai International Financial Center, and made the first official commencement in 2023 with a goal of public empowerment in the MENA region by improving their money spending nature. The major goal of MALY is to increase financial literacy and educate customers through the extensive money-saving tools built into an application along with a VISA card that is linked with the popular banks in the United Arab Emirates. MALY has also an objective to help the users by directing the key financial areas to achieve secured savings for future and compatible financial goals.

You can visit MALY’s official website to learn more about the company through the link below.

Website: www.maly.ai