In an effort to support Abu Dhabi’s startups and SMEs, the region’s first platform bank Wio Bank and MENA’s seed-stage program, and early-stage venture capital company Flat6Labs have signed a Memorandum of Understanding (MoU).
The agreement between the two organizations allows startups from Flat6Labs’ specialized seed program, Flat6Labs Ignite, access Wio Bank’s services and products. The partnership makes Wio Business, the digital banking application created especially for startups and SMEs, available.
The support from Wio Bank will benefit Flat6Labs, as the digital banking application enables startups to easily establish headquarters in Abu Dhabi. This access makes it possible for the seed-stage program to draw startups from foreign markets.