# Kayan Labs DMCC

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/kayan-labs-dmcc

- Industry: Financial Services
- Headquarters: Dubai, United Arab Emirates
- Website: www.gorise.co
- Total disclosed funding: $1.1M
- Latest round: Seed (Mar 23, 2020)
- Investors on record: 5

## About

Kayan Labs DMCC is a financial services company focused on providing innovative banking solutions for migrants, enabling seamless money management and remittance services to their families across various countries.Founded in 2016, Kayan Labs DMCC operates in Dubai, United Arab Emirates, offering tailored financial services for migrants. The firm has secured a total of USD 4.00 mn in funding, with its latest investment round taking place on June 1, 2021, led by Middle East Venture Partners. Kayan Labs DMCC is co-founded by Mandeep S. and Milind Singh, who have experience in developing tech-driven financial solutions. The company has completed a total of 2 deals to date.Kayan Labs DMCC specializes in providing innovative financial services designed specifically for migrants. Their platform integrates essential banking services from both home and host countries, allowing migrants to manage their finances effectively. By collaborating with regulated financial institutions, Kayan Labs empowers its users to take charge of their funds, addressing critical financial challenges faced by migrants, especially in regions with large expatriate populations such as the Middle East, North America, and Europe.Kayan Labs DMCC generates revenue through transaction fees related to money transfers and potential subscription models for premium financial products. The platform allows migrants to send remittances and access customized financial services, leading to a revenue structure that includes both transaction-based income and recurring fees from value-added services. These offerings are designed to remain accessible while supporting the company's operational costs, positioning Kayan Labs to capture a significant share of the migrant banking market.Following the recent funding of USD 4.00 mn raised on June 1, 2021, Kayan Labs DMCC plans to enhance its product offerings and expand into new geographic markets. The company is focused on launching upcoming features that will improve financial literacy among migrants, aiding them in managing their funds more effectively. Specific new services are being designed to cater to the diverse needs of their users in targeted markets across Europe and North America, with plans to initiate these expansions by the end of 2023.

## Funding rounds

- Seed, Mar 23, 2020, $1.1M — 500 Global, Middle East Venture Partners, Phoenician Funds, Khwarizmi Ventures, DIFC Fintech Fund

## Investors

- 500 Global (https://capitalatlas.ai/funds/500-global) — Seed
- Middle East Venture Partners (https://capitalatlas.ai/funds/middle-east-venture-partners) — Seed
- Phoenician Funds (https://capitalatlas.ai/funds/phoenician-funds) — Seed
- Khwarizmi Ventures (https://capitalatlas.ai/funds/khwarizmi-ventures) — Seed
- DIFC Fintech Fund (https://capitalatlas.ai/funds/difc-fintech-fund) — Seed