No menu items!
More

    Lune Technologies is awarded $68,000 by Sandooq Al Watan

    Sandooq Al Watan – the community initiative launched by Emirati businessmen to support the creation of a better future for forthcoming generations – has announced that it has funded ‘Lune,’ a platform from an Emirati startup specialising in the field of financial data analysis, with an amount of AED 250,000.

    Created by Lune Technologies Ltd., a startup founded by a group of experienced professionals with backgrounds in the fields of technology, payments and financial regulation, Lune is receiving Sandooq Al Watan’s investment under its Emirati Innovator programme – an initiative that supports Emirati entrepreneurs and inventors.

    Hind Baker, Sandooq al Watan’s Director General, said that Emirati innovator was created to encourage innovation in technology and enable Emirati entrepreneurs to create successful businesses capable of competing at all levels. The programme is primarily targeted at startups in the United Arab Emirates. It also has the larger goal of supporting the country’s transition to a knowledge-based, diverse, and sustainable economy that will benefit future generations.

    Baker said that Emirati Innovator further aims at enhancing the work of these businesses by connecting them to a wide range of resources and relationships. Other support that the programme provides, she said, includes providing grants and investments, along with non-financial assistance that includes working with various bodies and institutions to develop the companies’ respective offerings.

    For his part, Helal Tariq Lootah, Co-Founder of Lune Technologies Ltd, said that the concept of Lune is unique, as it allows banks and companies to extract valuable financial insights and indicators from their customers’ daily transactions and reveals spending patterns and habits. He said that the platform’s other valuable functions include monitoring average spending, giving a warning in the event of unusual financial movements, and reactivating dormant accounts.

    Lootah pointed out that the Lune Platform features an intuitive and easy-to-use control dashboard, designed to give users a comprehensive view of their customers’ financial accounts. He said that by employing artificial intelligence, the platform allows them to understand their customers’ daily spending at an accurate level.

    It is important to note that Emirati Innovator supports young entrepreneurs, innovators, and national competences by helping them improve their skills and knowledge. The initiative adopts unique ideas and translates them into effective and influential projects that participate in the UAE’s march towards greater progress and prosperity while working to enhance the country’s global economic position.

    Get latest news from African Startup ecosystem

    Latest stories

    You might also like...