Astra Tech
Overview
Astra Tech is a UAE-based technology investment and development group operating in the MENA region. The company focuses on creating the region's first Ultra App, integrating various services, including fintech solutions, to simplify users' digital experiences. Astra Tech owns several technology companies, including PayBy, Rizek, Botim, and Quantix LLC. The company developed the Botim Ultra app, which serves over 150 million users across 155 countries. In 2023-2024, Botim became the most issued fintech card in the country. In July 2024, Astra Tech's Quantix became the first fintech to receive a Finance Company License from the Central Bank of the United Arab Emirates. In December 2024, the American investment fund Citi invested $500 million in Astra Tech's Quantix, marking the largest funding for a UAE-based fintech to date. Founded in 2022 by Emirati businessman Abdallah Abu Sheikh, Astra Tech aims to create the region's first Ultra App, integrating a wide range of services such as free VoIP calls, international money transfers, credit lending, microfinancing, bill payments, on-demand and home services, and government services. In July 2022, Astra Tech acquired Rizek, a homegrown UAE-born super platform for on-demand personal and home services. The platform was first to market with crucial services such as home PCR testing and COVID vaccinations. In August 2022, Astra Tech acquired PayBy to expand its fintech section and receive Stored Value Facility and Retail Payment Services Licenses from the Central Bank of the UAE. In December 2022, Astra Tech received a $500 million funding round led by Abu-Dhabi-based G42, which has supported the company's acquisitions and development of technology. In January 2023, Astra Tech acquired BOTIM, the region's most popular VoIP app, which became popular during the COVID-19 pandemic as it provided video, audio, instant messaging, and group chats. By April 2024, Astra Tech signed a Memorandum of Understanding with Abu Dhabi Islamic Bank to integrate Shariah-compliant financial services through the Botim app. In May 2024, Astra Tech launched the MENA region's first Palm Pay technology and announced the opening of its strategic office in Dubai's DIFC Innovation Hub. In July 2024, Astra Tech's Quantix became the first fintech to receive the Central Bank of the United Arab Emirates Finance Company License. In 2024, it received the Economic Financial Equity Award by Inc. Arabia's Best in Business Awards and the Digital Banking Platform of the Year by Finance Middle East.
Investment Focus
- Focus on technology-driven companies
- Preference for fintech and digital services
- Interest in companies operating in the MENA region
- Open to various stages of company development
- Emphasis on innovation and scalability
- Alignment with Astra Tech's mission to simplify digital experiences
Portfolio Companies
Reach Astra Tech directly
Verified work email, phone and LinkedIn for the full team — one spreadsheet, one payment, yours to keep.
Unlock full contacts →Frequently asked questions about Astra Tech
What sectors does Astra Tech invest in?
Astra Tech invests in Financial Services, Technology, Healthcare, Energy, Real Estate and Telecommunications, and is based in Cairo, Egypt. Astra Tech is listed as a corporate vc in the ConnectSafely investor database.
What stage does Astra Tech invest at?
Astra Tech backs companies at Seed, Early Stage, Series A, Series B, Growth and Late Stage, writing cheques of 1M - 50M.
Which regions does Astra Tech invest in?
Astra Tech invests across United Arab Emirates, Saudi Arabia, Qatar, Kuwait, Oman and Egypt.
What companies has Astra Tech invested in?
Astra Tech's portfolio includes PayBy, Rizek, Botim and Quantix LLC.
How do I contact Astra Tech?
Astra Tech's contact details — including phone and LinkedIn — are listed in the ConnectSafely investor database, along with its website and the LinkedIn profiles of the team.
Last updated · Source: ConnectSafely investor database
