{"id":98738,"date":"2024-12-12T00:00:00","date_gmt":"2024-12-12T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/astra-techs-quantix-secures-usd-500-mn-funding-from-citi\/"},"modified":"2024-12-12T00:00:00","modified_gmt":"2024-12-12T00:00:00","slug":"astra-techs-quantix-secures-usd-500-mn-funding-from-citi","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2024\/12\/12\/astra-techs-quantix-secures-usd-500-mn-funding-from-citi\/","title":{"rendered":"Astra Tech\u2019s Quantix secures USD 500 mn funding from Citi"},"content":{"rendered":"

Quantix bags USD 500 mn in funding from Citi: <\/strong>Citigroup has extended USD 500 mn in asset-backed securitization financing to Dubai-based fintech firm Quantix Technology Projects, a subsidiary of Abu Dhabi's Astra Tech<\/a>, the company said at a press conference yesterday during Abu Dhabi Finance Week and in a LinkedIn post<\/a>. This marks one of the largest financing agreements ever secured by a UAE-based fintech company.<\/p>\n

About Quantix: <\/strong>Quantix, Astra Tech\u2019s consumer lending platform, provides microfinancing and retail financing services, including personal loans, short-term credit, vehicle loans, BNPL, rent now, pay later (RNPL), and send now, pay later (SNPL). The company became the first UAE-based fintech since 2008 to receive a finance company license from the Central Bank of the UAE in July<\/a>.<\/p>\n

WATCH THIS SPACE- The funds will be used to fuel Astra Tech's development of a \u201csuper app\u201d <\/strong>integrating services such as digital payments and instant messaging. <\/p>\n

REMEMBER-<\/strong> Astra Tech acquired the Gulf region\u2019s most popular voice-calling app Botim in <\/strong>January 2023<\/a><\/strong> as part of its super app strategy.<\/strong> Astra Tech has since upgraded its Botim brand this year to offer several fintech solutions, diversifying into a superapp, including launching Botim Payroll Solution<\/a>, which it billed as the UAE\u2019s first fully digital payroll and wallet solution for SMEs; introducing a send now and pay later remittance service<\/a> ; and integrating National Bonds<\/a> investment services into its app. <\/p>\n

Not the first time Astra Tech lands USD 500 mn in funding: <\/strong>UAE AI outfit G42 led a USD 500 mn funding round<\/a> for Astra Tech in 2022. Last month<\/a>, G42 acquired Astra Tech founder Abdallah Abu Sheikh\u2019s entire stake in Astra Tech, with Abu Sheikh stepping down as Astra Tech\u2019s CEO.<\/p>\n","protected":false},"excerpt":{"rendered":"

The funds will be used to support Astra Tech's development of a \u201csuper app\u201d<\/p>\n","protected":false},"author":1,"featured_media":98739,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1546],"tags":[1845,68,7,79,599],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-98738","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-debt-watch","tag-astra-tech","tag-debt-watch","tag-enterpriseam-uae","tag-fintech","tag-g42","wpautop","entry"],"acf":{"mongo_id":"7d8d1dbf-c43b-4ec3-8c68-8239adda32e2","order":"4","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/12\/1144.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Astra Tech\u2019s Quantix secures USD 500 mn funding from Citi","related_issue":[98731],"teaser":"The funds will be used to support Astra Tech's development of a \u201csuper app\u201d","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/12\/.aa116304-7bc0-421e-8a3e-75a387fdc0a9.mp3"},"yoast_head":"\nAstra Tech\u2019s Quantix secures USD 500 mn funding from Citi - UAE<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/uae\/2024\/12\/12\/astra-techs-quantix-secures-usd-500-mn-funding-from-citi\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Astra Tech\u2019s Quantix secures USD 500 mn funding from Citi\" \/>\n<meta property=\"og:description\" content=\"The funds will be used to support Astra Tech's development of a \u201csuper app\u201d\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/uae\/2024\/12\/12\/astra-techs-quantix-secures-usd-500-mn-funding-from-citi\/\" \/>\n<meta property=\"og:site_name\" content=\"UAE\" \/>\n<meta property=\"article:published_time\" content=\"2024-12-12T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1144.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/12\/12\/astra-techs-quantix-secures-usd-500-mn-funding-from-citi\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/12\/12\/astra-techs-quantix-secures-usd-500-mn-funding-from-citi\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Astra Tech\u2019s Quantix secures USD 500 mn funding from Citi\",\"datePublished\":\"2024-12-12T00:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/12\/12\/astra-techs-quantix-secures-usd-500-mn-funding-from-citi\/\"},\"wordCount\":290,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/12\/12\/astra-techs-quantix-secures-usd-500-mn-funding-from-citi\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1144.jpg?fit=%2C&ssl=1\",\"keywords\":[\"Astra Tech\",\"DEBT WATCH\",\"EnterpriseAM UAE\",\"fintech\",\"G42\"],\"articleSection\":[\"DEBT WATCH\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/12\/12\/astra-techs-quantix-secures-usd-500-mn-funding-from-citi\/\",\"url\":\"https:\/\/enterpriseam.com\/uae\/2024\/12\/12\/astra-techs-quantix-secures-usd-500-mn-funding-from-citi\/\",\"name\":\"Astra Tech\u2019s Quantix secures USD 500 mn funding from Citi - UAE\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/12\/12\/astra-techs-quantix-secures-usd-500-mn-funding-from-citi\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/12\/12\/astra-techs-quantix-secures-usd-500-mn-funding-from-citi\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1144.jpg?fit=%2C&ssl=1\",\"datePublished\":\"2024-12-12T00:00:00+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/12\/12\/astra-techs-quantix-secures-usd-500-mn-funding-from-citi\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/uae\/2024\/12\/12\/astra-techs-quantix-secures-usd-500-mn-funding-from-citi\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/12\/12\/astra-techs-quantix-secures-usd-500-mn-funding-from-citi\/#primaryimage\",\"url\":\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1144.jpg?fit=%2C&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1144.jpg?fit=%2C&ssl=1\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/12\/12\/astra-techs-quantix-secures-usd-500-mn-funding-from-citi\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/uae\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Astra Tech\u2019s Quantix secures USD 500 mn funding from Citi\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/#website\",\"url\":\"https:\/\/enterpriseam.com\/uae\/\",\"name\":\"UAE\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/uae\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/#organization\",\"name\":\"UAE\",\"url\":\"https:\/\/enterpriseam.com\/uae\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/42998.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/42998.svg\",\"caption\":\"UAE\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\",\"name\":\"enterpriseam admin\",\"sameAs\":[\"http:\/\/enterpriseam.testing.projectsarea.com\"],\"url\":\"https:\/\/enterpriseam.com\/uae\/author\/enterpriseam\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Astra Tech\u2019s Quantix secures USD 500 mn funding from Citi - UAE","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/uae\/2024\/12\/12\/astra-techs-quantix-secures-usd-500-mn-funding-from-citi\/","og_locale":"en_US","og_type":"article","og_title":"Astra Tech\u2019s Quantix secures USD 500 mn funding from Citi","og_description":"The funds will be used to support Astra Tech's development of a \u201csuper app\u201d","og_url":"https:\/\/enterpriseam.com\/uae\/2024\/12\/12\/astra-techs-quantix-secures-usd-500-mn-funding-from-citi\/","og_site_name":"UAE","article_published_time":"2024-12-12T00:00:00+00:00","og_image":[{"url":"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1144.jpg?fit=%2C&ssl=1","type":"","width":"","height":""}],"author":"enterpriseam admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"enterpriseam admin","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/enterpriseam.com\/uae\/2024\/12\/12\/astra-techs-quantix-secures-usd-500-mn-funding-from-citi\/#article","isPartOf":{"@id":"https:\/\/enterpriseam.com\/uae\/2024\/12\/12\/astra-techs-quantix-secures-usd-500-mn-funding-from-citi\/"},"author":{"name":"enterpriseam admin","@id":"https:\/\/enterpriseam.com\/uae\/#\/schema\/person\/ca597032db7e4db868359c123cec256d"},"headline":"Astra Tech\u2019s Quantix secures USD 500 mn funding from Citi","datePublished":"2024-12-12T00:00:00+00:00","mainEntityOfPage":{"@id":"https:\/\/enterpriseam.com\/uae\/2024\/12\/12\/astra-techs-quantix-secures-usd-500-mn-funding-from-citi\/"},"wordCount":290,"publisher":{"@id":"https:\/\/enterpriseam.com\/uae\/#organization"},"image":{"@id":"https:\/\/enterpriseam.com\/uae\/2024\/12\/12\/astra-techs-quantix-secures-usd-500-mn-funding-from-citi\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1144.jpg?fit=%2C&ssl=1","keywords":["Astra Tech","DEBT WATCH","EnterpriseAM UAE","fintech","G42"],"articleSection":["DEBT WATCH"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/uae\/2024\/12\/12\/astra-techs-quantix-secures-usd-500-mn-funding-from-citi\/","url":"https:\/\/enterpriseam.com\/uae\/2024\/12\/12\/astra-techs-quantix-secures-usd-500-mn-funding-from-citi\/","name":"Astra Tech\u2019s Quantix secures USD 500 mn funding from Citi - UAE","isPartOf":{"@id":"https:\/\/enterpriseam.com\/uae\/#website"},"primaryImageOfPage":{"@id":"https:\/\/enterpriseam.com\/uae\/2024\/12\/12\/astra-techs-quantix-secures-usd-500-mn-funding-from-citi\/#primaryimage"},"image":{"@id":"https:\/\/enterpriseam.com\/uae\/2024\/12\/12\/astra-techs-quantix-secures-usd-500-mn-funding-from-citi\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1144.jpg?fit=%2C&ssl=1","datePublished":"2024-12-12T00:00:00+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/uae\/2024\/12\/12\/astra-techs-quantix-secures-usd-500-mn-funding-from-citi\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/uae\/2024\/12\/12\/astra-techs-quantix-secures-usd-500-mn-funding-from-citi\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/uae\/2024\/12\/12\/astra-techs-quantix-secures-usd-500-mn-funding-from-citi\/#primaryimage","url":"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1144.jpg?fit=%2C&ssl=1","contentUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1144.jpg?fit=%2C&ssl=1"},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/uae\/2024\/12\/12\/astra-techs-quantix-secures-usd-500-mn-funding-from-citi\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/enterpriseam.com\/uae\/"},{"@type":"ListItem","position":2,"name":"Astra Tech\u2019s Quantix secures USD 500 mn funding from Citi"}]},{"@type":"WebSite","@id":"https:\/\/enterpriseam.com\/uae\/#website","url":"https:\/\/enterpriseam.com\/uae\/","name":"UAE","description":"The State of the Nation","publisher":{"@id":"https:\/\/enterpriseam.com\/uae\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/enterpriseam.com\/uae\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/enterpriseam.com\/uae\/#organization","name":"UAE","url":"https:\/\/enterpriseam.com\/uae\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/uae\/#\/schema\/logo\/image\/","url":"https:\/\/ent.news\/internal\/42998.svg","contentUrl":"https:\/\/ent.news\/internal\/42998.svg","caption":"UAE"},"image":{"@id":"https:\/\/enterpriseam.com\/uae\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/enterpriseam.com\/uae\/#\/schema\/person\/ca597032db7e4db868359c123cec256d","name":"enterpriseam admin","sameAs":["http:\/\/enterpriseam.testing.projectsarea.com"],"url":"https:\/\/enterpriseam.com\/uae\/author\/enterpriseam\/"}]}},"featured_image_src":"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1144.jpg?resize=600%2C400&ssl=1","featured_image_src_square":"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1144.jpg?resize=600%2C600&ssl=1","author_info":{"display_name":"enterpriseam admin","author_link":"https:\/\/enterpriseam.com\/uae\/author\/enterpriseam\/"},"jetpack_featured_media_url":"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1144.jpg?fit=%2C&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/posts\/98738","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/comments?post=98738"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/posts\/98738\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/issue\/98731"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/media\/98739"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/media?parent=98738"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/categories?post=98738"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/tags?post=98738"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/brand?post=98738"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=98738"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}