Astra Tech’s fintech arm, Quantix, secured $500 million in financing from Citigroup to enhance its operations across the MENA region. The funding will drive the growth of its consumer lending platform, CashNow, and improve its Ultra app ecosystem, which integrates financial and communication services for over 150 million users worldwide.
Key Points:
- Significant Investment: $500 million financing is among the largest for a UAE fintech.
- Ultra App Growth: Supports global userbase with payment, communication, and financial tools.
- Regulatory Leadership: First UAE fintech to earn a Finance Company License since 2008.
- Regional Focus: Enhances financial inclusion and digital lending across the Middle East.
