Astra Tech

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.