Hubpay Company Profile

Background

Hubpay, established in 2019, is a rapidly growing financial institution headquartered in the United Arab Emirates (UAE). The company is dedicated to revolutionizing cross-border payments, aiming to facilitate seamless financial transactions for individuals and businesses globally. Hubpay's mission centers on promoting financial inclusion by providing accessible and efficient digital payment solutions. As the first startup licensed in the UAE for digital money services, Hubpay has positioned itself as a significant player in the fintech industry, particularly within the Middle East, North Africa, and Pakistan (MENAP) region.

Key Strategic Focus

Hubpay's strategic focus encompasses:

Multi-Currency Digital Wallets: Offering digital wallets that support over 150 currency pairs, enabling users to hold and exchange multiple currencies seamlessly.

Cross-Border Payments: Facilitating international transactions to more than 85 countries, with a particular emphasis on remittances to regions such as the Philippines, Egypt, Pakistan, Nepal, India, Bangladesh, Sri Lanka, and the UK.

Business Accounts: Providing digital business accounts designed to streamline corporate onboarding processes, reducing account processing times from several months to as little as 24 hours.

Technological Integration: Developing proprietary platforms like Hubpay Connect, which offers API integration to enhance global payment capabilities for both financial and non-financial institutions.

Financials and Funding

In February 2022, Hubpay secured $20 million in a Series A funding round led by Signal Peak Ventures, marking the venture firm's first investment in the Arabian Gulf. Other participants included Olive Tree Capital, BECO Capital, Stormbreaker, Emkan Capital, and Aditum. The capital raised is intended to support team expansion and international growth, particularly in Asia and Africa.

Pipeline Development

Hubpay has been actively expanding its product offerings:

Hubpay Connect: Launched in April 2024, this service provides API integration for global payments, enabling businesses to automate cross-border transactions, manage foreign exchange, and streamline reconciliation processes.

Digital Business Accounts: Introduced in February 2025, these accounts aim to expedite corporate onboarding, reducing processing times significantly and supporting the UAE's goal of increasing SME businesses.

Technological Platform and Innovation

Hubpay's technological advancements include:

Proprietary Payment Platform: A cloud-agnostic platform built from scratch, allowing deployment across various data centers and facilitating integration with global FX providers.

Hubpay Connect: An API solution designed to enhance global payments integration, offering features like beneficiary management, global SWIFT and local payments, SPOT FX trading, and real-time wallet balance access.

Leadership Team

Kevin Kilty: Founder and CEO, leading Hubpay's vision and strategic direction.

Maia Van Paridon: Chief Operating Officer, experienced in launching and scaling complex businesses across emerging markets.

Dan Blackhurst: Chief Technology Officer, responsible for building Hubpay's entire platform, leveraging nearly 20 years of experience in fintech.

James Sennett: Head of Sales, specializing in FX, SMEs, and cross-border payments.

Leadership Changes

As of the latest available information, there have been no recent significant changes or appointments within Hubpay's leadership team.

Competitor Profile

Market Insights and Dynamics

The fintech industry in the MENAP region is experiencing rapid growth, driven by increasing digitalization, smartphone penetration, and regulatory support for digital financial services. The UAE, in particular, is a significant remittance market, with payments exceeding $47 billion in 2021.

Competitor Analysis

Hubpay operates in a competitive landscape with several key players:

PayZang: Offers comprehensive payment processing solutions, including hardware, merchant accounts, and gateways, catering to businesses worldwide.

Worldpay: Provides advanced payment solutions, including POS systems, integrated card payments, and cross-border payments, serving a global clientele.

Mojaloop: An open-source platform promoting interoperability in real-time payment networks, aiming to drive low-cost digital payment services globally.

Strategic Collaborations and Partnerships

Hubpay has engaged in strategic collaborations to enhance its offerings:

Visa Fast Track Program: Participation in this program enables Hubpay to leverage Visa's payment infrastructure, facilitating scalability and integration with global payment networks.

Operational Insights

Hubpay's distinct competitive advantages include:

Regulatory Compliance: Being the first startup licensed in the UAE for digital money services, ensuring adherence to stringent regulatory standards.

Technological Innovation: Development of proprietary platforms like Hubpay Connect, offering enhanced capabilities for global payments integration.