Tarabut Gateway Group

Based in Bahrain, Tarabut Gateway W. L. L. specializes in providing an open banking platform that seamlessly connects fintechs and financial institutions to enhance consumer banking experiences.

Tarabut Gateway W. L. L. is a financial technology company founded in 2017, headquartered in Manama, Bahrain.

The company focuses on delivering open banking solutions, enabling financial institutions and fintechs to access and utilize financial data efficiently. The founder, Abdulla Almoayed, has a rich background in financial services and has led the company through its growth stages. Notably, Tarabut has successfully closed four funding deals, with the most recent being a Series A round on May 3, 2023, raising USD 32. 00 mn led by Pinnacle Capital, with participation from AlJazira Capital, Tiger Global Management, and Visa.

Tarabut's core product offerings revolve around connecting and embedding finance into everyday consumer interactions through an innovative open banking platform. The company's solutions include Account Information Services (AIS) and Payment Initiation Services (PISP), which enable fintechs and businesses to access real-time financial data and facilitate seamless transactions. By integrating these services, Tarabut addresses critical end-use cases such as enhancing access to credit, simplifying money transfers, and promoting financial resilience among users. The company serves a diverse clientele, including fintechs, banks, and financial institutions, primarily in the MENA region, with specific markets such as Saudi Arabia, Bahrain, and the broader Gulf Cooperation Council (GCC) region.

Tarabut's commitment to regulatory compliance and advanced technology has positioned it as a key player in transforming the financial landscape for its partners and end-users. Tarabut generates revenue through strategic partnerships with banks and financial institutions, leveraging its suite of services to facilitate financial transactions and data insights. The company operates on a B2B model, where fintechs and commercial clients integrate Tarabut's open banking capabilities into their offerings. Revenue streams are derived from subscription fees or transaction-based pricing structures associated with their AIS and PISP solutions.

A financial institution utilizing Tarabut's platform may pay a regular subscription fee to access real-time data and initiate payments, enhancing their service offerings to customers. This revenue model supports the operational costs of providing these services and aligns with the strategic goal of facilitating innovative financial solutions tailored to the needs of the region. In May 2023, Tarabut Gateway Group raised USD 32. 00 mn in Series A funding, led by Pinnacle Capital with participation from other investors, including AlJazira Capital and Visa.

The company will utilize the funding to expand its market presence and hire additional staff to support its growth initiatives. Tarabut plans to design and launch new products in the open banking sector while targeting expansion into new markets within the MENA region by the end of 2024.