Lune Technologies, an Emirati Financial Data Analytics firm, has successfully raised $1.5 million in a seed funding round. This financial infusion is aimed at augmenting Lune’s product suite and expanding its operations within the Middle East and North Africa (MENA) region. Beginning with its pre-seed funding in 2022, Lune has demonstrated significant growth and is planning to deploy the new funds to enhance its product offerings, increasing the company’s competitive edge and operational efficiency. Investors in this round include Dubai Future District Fund (DFDF), Plus Venture Capital, Reach International, among other family offices and angel investors. The funding underscores Lune’s potential within the financial technology industry, especially in relation to neobanks and traditional banks undergoing digital transformation. The company plans to utilize their technology to provide enriched data analytics and transaction services while eyeing expansion beyond the UAE and Saudi Arabian market, into Bahrain and further into Oman, Qatar, Kuwait, and Egypt. The announcement also includes mention of an impending partnership with a major GCC payments company, which is expected to extend Lune’s market reach. Lune sets itself apart with strict adherence to data security standards such as ISO 27001 and GDPR. Additionally, it is recognized for its sustainability initiatives, offering clients transactional carbon footprint estimates. Helal Tariq Lootah, Co-CEO and Co-Founder, articulates the company’s aspiration to revolutionize the financial services landscape, backed by Lune’s recognition as a Future 100 company and its recent award for Best Technology Solution for Banking from Entrepreneur Middle East in 2023.

Financial Technology (FinTech), Data Analytics, Sustainable Finance,United Arab Emirates (UAE), Middle East and North Africa (MENA)

https://www.zawya.com/en/press-release/companies-news/emirati-data-company-lune-technologies-secures-15mln-seed-funding-sa6w0p7i