The company plans to hire 120 employees in Dubai

Rapid opens office in Dubai International Financial Center

Arif Amiri: "Dubai continues to consolidate its position as one of the most attractive technology and innovation centers for companies."

The global company "Rapid", which specializes in providing financial technology as a service, Rapyd, announced the opening of its new headquarters in the Emirate of Dubai, in a step that makes it the first Israeli company to start operating in accordance with the regulations and laws in force in the UAE.

Permission and consent

Yesterday's statement stated that the Dubai International Financial Center had granted a permit to start business for "Rapid", and the Dubai Financial Services Authority, the independent regulator of financial services practiced in or from the Dubai International Financial Center, granted initial approval to "Rapid" under the Services Regulations. Finance.

The Company expects to receive the full authorization to provide financial services, upon meeting all requirements of the initial approval.

Simplify payments

Rapid will be keen to anticipate the future of financial technology from Dubai by providing local merchants with pioneering solutions to send, receive and simplify payments in the region and the world at large.

This ambitious step will bring great benefits to merchants, as it will enhance their ability to conduct payments transactions from other countries, leading to the growth of their business globally.

The company officially opened the doors of its office in the Dubai International Financial Center on May 11, 2022. It plans to recruit 120 employees in Dubai, within the departments of research and development, product, operations and human resources, during the next 18 months.

new standards

“As the fintech sector continues to grow, Rapid is poised to set entirely new standards in the fintech business model, and provide a new definition of success in this vital sector,” said Eric Shelman, CEO of Rapid.

Thanks to Dubai’s position as a strategic development center, we believe that there are huge opportunities for us in the emirate, as we continue to assume an active role in leading innovation in the sector, and pushing it to broader horizons in the UAE and the world.”

attractive city

For his part, CEO of the Dubai International Financial Center Authority, Arif Amiri, said that Dubai, with the support of the center, continues to consolidate its position as one of the most attractive centers of technology and innovation for companies, thanks to the center’s provision of comprehensive services that help startups, global players in the sector and emerging billion companies accelerate the pace of development. Its growth and entry into the Middle East, Africa and South Asia markets.

He added: "We are pleased to have (Rapid) join our community, to be the first Israeli company to choose (Dubai International Finance) as a strategic development center for its operations, and to conduct its business in the UAE in accordance with the regulations and legislation in force there."

He continued: “The Dubai Financial Services Authority, the independent regulator of financial services in the DIFC, was the first in the region to introduce comprehensive payments services.

We are confident that this system will enable (Rapid) and other payment companies to achieve a remarkable international pace of expansion, and record growth at a faster pace than what is usual in the markets of the region.”

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