Fintech start-up Stripe enters the Middle East with UAE launch

One of Silicon Valley’s most valuable private fintech companies has chosen Dubai for its first expansion into the Middle East and North Africa.

Online payments company Stripe is expanding into the Middle East, just weeks after its latest funding round, which pushed the company’s value to $95 billion, making it one of the most valuable private fintech firms in the world.

“The opportunity for start-ups in the UAE is enormous,” Matt Henderson, Stripe’s business lead for Europe, Middle East, Africa told CNBC’s Hadley Gamble on Monday in an exclusive interview. “The opportunity for Stripe is very large as well.”

Stripe, started in 2010 by two brothers from Ireland, competes directly with PayPal, Adyen and Square. Its software platform allows businesses to accept online payments.

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Source: Fintech start-up Stripe enters the Middle East with UAE launch