WakeCap raises $28M for construction safety; NymCard gets UAE Open Finance license
Key Takeaways
- WakeCap secured $28M to expand construction safety technologies (2025-05-13).
- NymCard licensed for Open Finance in UAE after US$33M Series B (2025-05-13).
- Saudi Arabia launched HUMAIN, a new AI company owned by PIF (2025-05-13).
- Botim & Mbank launched UAE's first fintech-integrated Jaywan card (2025-05-13).
- Dubai Residential REIT announced IPO on DFM, offer at AED1.07-1.10 (2025-05-13).
Top Stories
WakeCap secures $28M to improve construction safety
On 2025-05-13, Saudi Arabia's WakeCap secured $28 million in funding at the Saudi-US Investment Forum. The funding will be used to expand its services and technologies aimed at improving construction site safety and productivity.
NymCard licensed for Open Finance in UAE
On 2025-05-13, NymCard received a license to provide Open Finance services under the Central Bank of the UAE’s Open Finance regulation. This makes NymCard one of the first in the UAE to offer regulated payment functionality through a modular platform, following their recent US$33 million Series B funding round led by QED Investors.
Saudi Arabia launches HUMAIN, new AI company
On 2025-05-13, Saudi Crown Prince Mohammed bin Salman announced the launch of HUMAIN, a new AI company owned by the Public Investment Fund (PIF). HUMAIN aims to develop AI solutions for local, regional, and global markets, providing AI services, products, and tools, including data centres, cloud capabilities, and advanced AI models, as part of Saudi Arabia's strategy to become a global AI hub.
Botim & Mbank launch UAE's first Jaywan card
On 2025-05-13, Botim and Mbank launched the UAE’s first fintech-integrated Jaywan card scheme at the Dubai Fintech Summit. Botim users will gain access to a secure, convenient, and fully digital payment solution via the Jaywan prepaid card, eliminating the need for traditional bank accounts.
Dubai Residential REIT announces IPO on DFM
On 2025-05-13, Dubai Holding announced the IPO of Dubai Residential REIT on the Dubai Financial Market (DFM), with an offer price range between AED1.07 and AED1.10 per unit. The subscription process began on 2025-05-13 and will continue until 2025-05-20, with trading expected to commence on 2025-05-28 under the symbol “DUBAIRESI”, and the final offer price to be announced on 2025-05-21.