Bahrain’s financial technology (fintech) sector has made significant strides on the global stage, with four Bahraini companies securing spots on Forbes’ Middle East Fintech 50 list for 2025. This recognition highlights the Kingdom’s growing influence in the fintech industry and its commitment to fostering innovation within the financial sector. As fintech continues to redefine banking, payments, and digital asset management, Bahrain has positioned itself as a leading player in the region.
Bahrain’s Fintech Leaders
The Forbes Middle East Fintech 50 list is a prestigious ranking of the region’s most influential and innovative fintech companies. The 2025 edition features companies from 11 countries, with 12 new entrants, including four prominent fintech firms from Bahrain: Tarabut, Eazypay.com, CoinMENA, and Rain. These companies have collectively contributed to the growing financial technology landscape in the Middle East, processing billions in transactions and attracting significant investment.
Tarabut (Ranked 25)
Tarabut is one of the standout names on the list. Founded in 2018 by Abdulla Almoayed, it is an open banking and embedded finance platform with operations in the UAE, Bahrain, and Saudi Arabia. The company has played a critical role in revolutionizing digital financial services in the region.
In September 2024, Tarabut made a significant move by acquiring Vyne, a London-based real-time account-to-account (A2A) payments platform. This acquisition allowed Tarabut to enhance its digital offerings and expand its market reach into Europe. The company reported an impressive 4.5x year-on-year revenue growth in 2024, solidifying its position as one of the fastest-growing fintech firms in the Middle East.
With a strong focus on API-driven financial solutions, Tarabut has enabled banks and financial institutions to seamlessly integrate open banking services, fostering a more interconnected financial ecosystem. This approach has paved the way for enhanced financial accessibility and improved user experiences for customers across the region.
Eazypay.com (Ranked 26)
Eazypay.com, founded in 2016 by Nayef Al Alawi, is another Bahraini company making waves in the fintech industry. Specializing in payment processing solutions, Eazypay.com has revolutionized how businesses and consumers transact digitally.
A key milestone for the company was its partnership with Binance, a global cryptocurrency exchange. This collaboration enabled Eazypay.com to integrate cryptocurrency payments, making it one of the first fintech firms in the region to bridge traditional finance with digital assets.
In 2024, Eazypay.com processed a staggering $4.2 billion in transactions within Bahrain alone. The company’s expansion plans include venturing into the broader Gulf Cooperation Council (GCC) region and Europe. With a rapidly growing customer base and continuous innovation in payment solutions, Eazypay.com has emerged as a fintech powerhouse. As of February 2025, the company was valued at $300 million, reflecting its robust financial standing and promising growth trajectory.
CoinMENA (Ranked 29)
CoinMENA is a Bahrain-based cryptocurrency trading platform that has gained immense popularity in recent years. Founded in 2021 by Talal Tabbaa and Dina Sam’an, the company has provided a secure and user-friendly platform for individuals and institutions to buy, sell, and store digital assets.
Licensed by the Central Bank of Bahrain and Dubai’s Virtual Assets Regulatory Authority, CoinMENA operates in 45 countries, including all GCC markets. The company has played a vital role in driving cryptocurrency adoption in the region, offering seamless fiat-to-crypto transactions and regulatory compliance.
By the end of 2024, CoinMENA reported a remarkable 430% year-on-year increase in trading volume. The company also surpassed $2 billion in total transactions, cementing its position as a key player in the digital asset space. With growing institutional interest and an expanding user base, CoinMENA is well-positioned to capitalize on the increasing demand for cryptocurrency services in the Middle East.
Rain (Ranked 32)
Rain is another fintech success story from Bahrain. Founded in 2017 by Abdullah Almoaiqel, Yehia Badawy, Adam Nelson, and Joseph Dallago, Rain has established itself as a leading virtual assets platform in the region. The company operates in Bahrain, the UAE, and Türkiye, offering trading services for over 50 cryptocurrencies.
Since obtaining its license in 2019, Rain has processed over $8.3 billion in trading volume and onboarded 1.5 million users. The company has been actively working to expand its regulatory footprint and market presence. In 2024, Rain announced its intention to apply for a local license in Türkiye, which would allow it to expand operations and cater to a larger customer base.
With a focus on security, compliance, and customer-centric services, Rain has become a trusted platform for crypto traders in the Middle East. The company’s long-term vision includes further geographic expansion and the introduction of new financial products tailored to the evolving needs of digital asset investors.
Regional Fintech Trends
The fintech sector in the Middle East is experiencing unprecedented growth, driven by digital transformation, regulatory support, and increasing consumer demand for digital financial services. Payment solutions, buy-now-pay-later (BNPL) services, and cryptocurrency platforms have been leading the charge in this transformation.
Saudi Arabia has been at the forefront of fintech expansion, with companies like Tabby dominating the market. Tabby, a shopping and financial services app, raised $160 million in a Series E funding round in February 2025, bringing its valuation to $3.3 billion. This significant funding underscores the investor confidence in fintech startups across the region.
Other notable fintech leaders include Egyptian e-payment giant Fawry, which ranks second on the Forbes list, and Saudi Insurtech and banking solutions firm Rasan, which went public on Tadawul in 2024, reaching a market capitalization of $1.9 billion by February 2025.
Bahrain’s Fintech Ecosystem
Bahrain has emerged as a regional fintech hub, thanks to its progressive regulatory framework and supportive business environment. The Central Bank of Bahrain has been instrumental in fostering innovation by implementing policies that encourage fintech startups and established firms to thrive.
The presence of initiatives like the Bahrain Fintech Bay and regulatory sandboxes has provided fintech companies with the necessary infrastructure to develop and test their solutions. The Kingdom’s strategic location and business-friendly policies have further attracted international investors and fintech entrepreneurs to set up operations in Bahrain.
Future Outlook
As Bahrain continues to prioritize technological advancements and financial innovation, the fintech sector is poised for sustained growth. The success of companies like Tarabut, Eazypay.com, CoinMENA, and Rain is a testament to the Kingdom’s potential as a fintech powerhouse.
Looking ahead, Bahrain’s fintech companies are expected to explore new markets, adopt emerging technologies such as artificial intelligence and blockchain, and develop cutting-edge financial solutions. With increasing collaborations between fintech firms and traditional financial institutions, the sector is set to undergo further evolution, enhancing financial accessibility and efficiency.
Conclusion
The recognition of Bahraini companies in Forbes’ Middle East Fintech 50 list underscores the Kingdom’s remarkable progress in the fintech industry. Through continuous innovation, strategic partnerships, and a forward-thinking regulatory environment, Bahrain has positioned itself as a key player in the global fintech landscape.
As these companies continue to expand and introduce groundbreaking solutions, they not only contribute to the local economy but also strengthen Bahrain’s reputation as a leader in financial technology. With a bright future ahead, Bahrain’s fintech ecosystem is set to thrive and redefine the financial landscape of the Middle East.
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