Hub71 and Stripe partner to accelerate seamless payments for tech startups

Aims to provide Hub71 startups with essential payment gateways to capture revenue from customers with fee-free card processing

  
Hub71 and Stripe partner to accelerate seamless payments for tech startups
  • Founders will gain discounted access to Stripe Atlas, Stripe’s startup user tool, to set up and scale their businesses online

Abu Dhabi, United Arab Emirates : Hub71, Abu Dhabi’s global tech ecosystem, announced a new partnership with Stripe, a global technology company that builds economic infrastructure for the internet. With Stripe, tech startups can more easily and efficiently accept payments online, payout funds, and manage their business growth.

The partnership was announced during Fintech Abu Dhabi Festival 2021, where Hub71 is a key supporting partner to the event. The partnership will also grant founders 50 per cent discounted access to Stripe Atlas, Stripe’s startup toolkit that enables entrepreneurs to launch new startup ventures in minutes from anywhere in the world. Hub71 startups will also gain priority access to Stripe’s new beta products and Stripe events that facilitate new connections for founders seeking innovative payment solutions.

Jida Itani, COO at Hub71, commented: “Partnering with Stripe ensures our startup community can receive secure payments from their customers seamlessly. We have more FinTech startups at Hub71 than any other sector and bringing Stripe onboard as a strategic partner strengthens the value we can bring to our community by providing them global platform to facilitate their scale. Stripe’s payments platform is world-class and we look forward to working closely together, capitalizing on its robust financial technology and the scale of its global network to ensure startup founders and entrepreneurs can achieve their true potential, unlocking new revenue streams to take their business to the next level.”

Kunal Choitram, Middle East and North Africa Partnerships, Stripe, said: “Like Hub71, we are motivated to give entrepreneurs in the UAE the ability to achieve their ambitions and scale their businesses online. Our fully integrated suite of payments products makes money movement as simple, borderless and programmable as the rest of the internet. We look forward to working together with Hub71 and their community of bright startups, providing access to the infrastructure needed to unlock the vast potential of the internet economy.”

Juma Al Hameli, Chief Strategy Officer & Business Development Officer of Abu Dhabi Global Market, said: “We sincerely congratulate Hub71 and Stripe on this milestone partnership which will significantly support the UAE startup community in scaling their businesses via world-class payments services and technology platform. As an International Financial Centre and business enabler, ADGM continues to work closely with its partners to reinforce Abu Dhabi’s attractiveness and position as a world-class tech hub and leading digital economy.  We will continue to provide advanced digital infrastructure, connectivity, and business frameworks to support financial services institutions, technology providers, investors, startups with innovative solutions to scale their businesses and achieve their growth ambitions.   ADGM looks forward to supporting global technology firms, such as Silicon-Valley based Stripe, in expanding their reach and presence in the UAE and to the rest of the MENA region.”

-Ends-

About Hub71:

Hub71 is Abu Dhabi’s global tech ecosystem that enables founders to build globally enduring homegrown tech companies in any sector by providing access to global markets, a capital ecosystem, a global network of partners, and a vibrant community filled with highly skilled talent, governed by forward-thinking regulation.

Backed by the Government of Abu Dhabi and Mubadala Investment Company, Hub71 is growing its vibrant community of tech startups, investors, government, and corporate partners to ensure the availability of investment, commercial activities, and incentives from the public and private sectors. Through Hub71’s entrepreneurial infrastructure, value-add programs, enabling services and support packages, founders can build and scale widely adopted technologies with purpose and impact. Hub71 is on a mission to introduce new minds and technologies to Abu Dhabi, finding new ways to build globally enduring technology companies and sustain the nation’s continuous economic development. 

About Stripe:

Stripe’s mission is to increase the GDP of the internet.

Stripe is a global technology company that builds economic payments infrastructure for the internet. Millions of companies of all sizes - from startups to Fortune 500s - use Stripe’s software and APIs to accept payments, send payouts, and manage their businesses online.

What Stripe does:

Allows businesses to set up and run instantly. Stripe enables businesses to receive payments in over 135 currencies and through payment methods like OXXO and credit cards. Set up is fast, and merchants can get started in just minutes.

Equips online businesses with a full stack to launch, run and scale. In addition to accepting payments, companies can use Stripe to build new business models like marketplaces, crowdfunding and subscriptions, handle accounting and optimize checkout experiences for mobile devices ㄧ all from one centralized dashboard. Plus, there are hundreds of third-party services that are integrated with Stripe ㄧ everything from invoicing to email marketing and customer relationship management.

Fights fraud. Stripe Radar, the technology company’s fraud detection and prevention tool leverages advanced algorithms and machine learning to actively protect businesses from fraud. This is especially useful for businesses operating internationally, since fraud patterns and threats can vary significantly from one country to the next.

Delivers seamless security. Stripe is certified to PCI Service Provider Level 1, the most stringent level of certification. Stripe also provides 3D-Secure (3DS) support, creating one-time-use codes for businesses to charge their customers; these codes cannot be stolen and re-used.

Media contacts:
Hub71: TechHubEdelman@Edelman.com 
For more information visit www.hub71.com and follow us @Hub71AD #Hub71

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