Sharjah Entrepreneurship Centre (Sheraa) has signed a memorandum of understanding (MoU) with Wio Bank, the region’s first platform bank, to empower ecosystem players with Wio platform that is built to reboot banking for the new digital age.

The agreement comes within the framework of Sheraa's vision on the importance of robust, reliable and reputable financial services management for all established and aspiring startup founders.

Under the terms of the partnership between Sheraa and Wio, all Sheraa start-ups stand to benefit from a limited-period offer featuring 90 days of free financial services from Wio Bank, followed by a reduced monthly membership fee compared to the bank's standard rate.

As part of the MoU, start-ups and freelancers will be able to access all-in-one services to manage salaries, rent, VAT, among other things, that will empower them to streamline their financial operations and focus on growing their businesses.

The integration of Wio Bank's digital banking solutions with Sheraa's existing support programs and resources will provide entrepreneurs with a seamless and efficient platform to manage their finances and fuel their entrepreneurial endeavours.

Additionally, Sheraa and Wio Bank will also collaborate on various initiatives, including knowledge-sharing sessions, workshops and networking events. These activities will enable entrepreneurs to gain insights, learn best practices and forge valuable connections within the UAE’s vibrant startup ecosystem, said Sheraa CEO Najla Al Midfa after signing the deal with Wio Bank COO Jamal Al Awadhi.

"Our strategic partnership with Wio Bank is a powerful testament to our unwavering commitment to creating a supportive ecosystem for start-ups and igniting the spirit of entrepreneurship in Sharjah and the UAE," she stated.

Najla pointed out that this milestone represented a significant leap forward as it would enable startup growth and attract exceptional talent to the vibrant city and provide added value through partnerships such as these.

"Together, we will empower the youth, nurture their innovative ideas, and provide start-ups with the necessary resources to thrive. The collaboration with Wio Bank strengthens our resolve to unlock limitless opportunities and shape an inspiring future for the startup landscape in Sharjah," she added.

Al Awadhi said the Sheraa partnership comes as part of Wio's shared vision of empowering start-ups and promoting entrepreneurship in the UAE.

"Through our seamless all-encompassing platform, we aim to revolutionise the way founders manage their finances, providing personalised and invaluable digital banking services. Together with our new partners, we are committed to nurturing innovation, enhancing access, and creating a vibrant start-up ecosystem for businesses to thrive in Sharjah," he added. 

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