UAE-based AI-powered FinTech startup QFil Solutions has raised $1M to design the next powerhouse of investment for the new breed of savvy millennial and GenZ investors- using AI to hone decisions and capitalizing on guts to take fruitful risks.
Request specific data sets, export tailored directories, and explore the full potential of our Platform. Reach out to our Sales Team
The UAE-based premium Fin-Tech provider specialized in AI-driven Fin-Tech solutions, QFIL Solutions has raised $1M in its Pre-SEED financing backed by a regional Tech investor.
QFIL Solutions’ leading-edge AI engines, apps, and web platforms built on proprietary technology help investors, institutions, and retail traders maximize gains while minimizing risks. The company is particularly focused on the new breed of savvy millennial and GenZ investors– helping them manage their trading (Forex, stocks, and crypto) and see more wins and fewer losses.
Over 2021, the exponential 183% YoY growth in funding backing the FinTech sector in MENA was driven by next-generation technologies as recorded in our FinTech 2022 Venture Investment Report. Surely, Saudi’s Top FinTech round in 2021 closed by Rasan Information Technology ($24M), and the $5M raised by the UAE’s nascent InsurTech pioneer Hala هلا (UAE) were remarkable milestones for the Banking & InsurTech sectors. While sizable investments in digital investment platform Sarwa ($15M), and Investment Literacy platform Baraka ($4.1M), both coming out of the UAE, are attracting more players looking to empower individuals across the ME to enter the global capital markets. The startups are integrating AI, MI, and data analytics to enhance the Financial experience for their users and introduce agility and accessibility to previously rigid processes.
Access our suite of Full Year 2021 Reports covering MENA, Africa, Pakistan & Turkey. Browse our latest and pick your data focus
A soft product launch begins with the ground-breaking Magus AI, the ultimate trading compass which is 80% accurate and features AI-driven real-time market signals, requires no human intervention, employs historic machine learning and sophisticated AI formulas – offering a top-level financial advisory service for traders. Commenting on the recent investment, Hani AlAita, Co-Founder and Managing Director of QFIL Solutions said, “Funding will be used to finalize the development and proof of concept before we soft launch in four key markets – the UAE, Singapore, Nigeria, and South Africa. As QFIL closes in on the second round of funding, we will be looking at other market expansions and continuing to develop our pipeline of products.” He added: “The landscape of trading is changing. Today’s younger traders have a very different approach. Our vision at QFIL Solutions is to provide them with breakthrough AI-driven products tailored to their ambition while helping them reduce their risks and maximize their gains on their journey for expedited wealth creation.”
Consumer-centric solutions that fit the digital social world of millennials are far removed from typical banking and technology. Millennials are technologically savvy and ambitious and willing to take risks. They also need a product that can give them instant results or real-time market signals and one which is reliable, secure, and accurate. This is where Magus AI comes in. The startup will utilize its newly acquired funds to further develop Magus AI and ready it for launch in 4 markets. A spokesperson for the investor, a leading financial technology investment company commented: “We were looking for disruptive players, ones that understood the hybrid reality of trading platforms and currencies, with technology and AI as a driver for a different level of outcomes. QFIL Solutions stood out with their vision and pipeline of products that could not only benefit traders directly but other platforms alike.”
Looking to cash in on this startup landscape? Browse 1,700+ FinTech startups in EVMs