Fintech Galaxy
“Can a regulated Open Banking infrastructure layer become the dominant API aggregator connecting banks and fintechs across MENA?”
Founded2017
HQDubai, United Arab Emirates
Total raised$7.5M
Latest roundLater Stage VC, 2025
IndustryInfrastructure / Open banking
The story
Founded in 2017 as a fintech marketplace and innovation crowdsourcing platform in Dubai, Fintech Galaxy pivoted to become a regulated Open Banking and Open Finance infrastructure provider for the MENA region. The company built its FINX platform to provide API aggregation, Account Information Services (AIS), and Payment Initiation Services (PIS), obtaining its first central bank license from Bahrain in 2022. It has since expanded its regulatory footprint to Saudi Arabia and Jordan, repositioning from a marketplace enabler to a B2B infrastructure layer that banks and fintechs plug into for Open Banking compliance.
Last 12 months
2024-01
Product timeline
2017
Founded in Dubai, UAE as an open innovation and fintech marketplace platform facilitating collaboration between financial institutions and fintechs.· pivot
2021
Launched FinX22, a cloud-based open innovation platform with Open Banking API sandbox, in collaboration with Central Bank of Bahrain and multiple regional banks.· banking
2021
Raised $2M seed round led by Ahli Fintech to build out the FINX Open Finance platform across MENA.· ipo
2022
Received license from the Central Bank of Bahrain to become the first central bank-regulated Open Finance TPP in the MENA region.· banking
2023
Enabled open banking capabilities for Jordan Ahli Bank via FINX Connect platform.· banking
2025
Raised $9M and became first open banking company accepted into the Central Bank of Jordan's JoRegBox regulatory sandbox.· banking
2025
Launched FINX Comply services in the UAE, providing Open Banking and Open Finance compliance solutions for banks and financial institutions.· banking
Regulated entities
3
regulatory licences held by Fintech Galaxy
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
1 layer disclosed in Fintech Galaxy’s embedded-finance stack
Open banking
FINX Connect (self-operated)
Accounting gap: none