Wio's Collaborative Venture with Hub71 to Redefine the Future

11 Sep, 2023

Setting up bank accounts has historically been a bottleneck for startups, leading to operational delays and headaches. Recognizing the pressing need to simplify and streamline these intricate banking processes, the region’s first platform bank, Wio Bank PJSC, launched Wio Business, an innovative digital banking platform designed for UAE startups.

This comprehensive suite of services offers an array of features, including secure payment solutions, competitive foreign exchange rates, automated invoicing, virtual cards, and dedicated saving spaces. This approach empowers startups to manage financial obligations—such as VAT and other bills—efficiently and seamlessly.

Hub71 recently announced its partnership with Wio Bank. This collaboration is set to transform the banking experience for Hub71 startup founders in the capital. We had the chance to hear from Jamal Al Awadhi, Chief Operating and Experience Officer at Wio, who shed light on the vision and aspirations driving this innovative partnership.

Al Awadhi explained how this collaboration is a bold step towards driving transformation and growth. The vision is clear: to simplify and streamline the intricate banking processes that startups often grapple with. Through the Wio Business platform, Hub71 startups will gain access to the financial tools they need to accelerate innovation and elevate their businesses to new heights.

The initial response from the startup and SME community has been overwhelmingly positive, and as the first official banking partner of Hub71, Wio is set to extend this impact to the wider network of businesses within Hub71.

At Hub71, we realize that this collaboration extends far beyond financial services. At the core of the approach lies the recognition that startups need more than just banking products to thrive and scale from Abu Dhabi. Our approach to collaboration has led high-potential startups to gravitate towards Hub71, an ecosystem of tech entrepreneurs, corporate trailblazers, enterprising investors, and national champions who find each other in the right place at the right time.