9th September, 2024, Dubai, United Arab Emirates: iACCEL Gulf Business Incubator (iACCEL GBI), a leading go-to market accelerator based in Dubai, has announced a strategic partnership with TrustIn, Middle East’s first regulated digital escrow platform. The collaboration aims to democratize and simplify escrow services, making them more accessible through a user-friendly digital platform.
iACCEL Gulf Business Incubator has onboarded over 20 startups from across the globe over the last 17 months. With a strong value proposition, the company offers comprehensive support to startups to facilitate their growth and expansion in the UAE and GCC region.
FSRA, ADGM certified Trustin intends to streamline the payment process by offering a comprehensive and easily accessible escrow platform to all stakeholders for a seamless and more cost-effective transaction experience for consumers, local businesses, and companies. All the parties involved in a transaction are required to adhere to the highest standards of Know Your Customer (KYC) and Know Your Business (KYB) processes. Trustin safeguards the interests of businesses by enhancing the safety and trustworthiness of financial transactions, making it the preferred choice for companies seeking reliable and transparent escrow solutions.
Commenting on the partnership, Deepak Ahuja, CEO of iACCEL GBI, said, “The UAE has rapidly emerged as a global hub for innovation and trade, attracting businesses
from across the world. However, one of the significant challenges within this thriving ecosystem is the risk associated with open trade, especially for SMEs and the retail market. TrustIn is stepping in to solve this problem by providing a regulated digital escrow platform that ensures
transparency, security, and legal protection for all parties involved in B2B, B2C or C2C
transactions. By leveraging TrustIn, businesses in the UAE can now engage in trade with greater confidence, knowing that their payments and deliveries are safeguarded. This not only fosters trust but also accelerates the growth of SMEs, reinforcing the UAE’s position as a leading destination for business and innovation and holds significant potential for expansion into other geographies. We, at iACCEL GBI, are committed to supporting them in this journey.”
Anishkaa Gehani, co-founder of iACCEL GBI, shared her thoughts on the partnership, stating, “At iACCEL GBI, we believe in empowering businesses with innovative solutions that foster growth and trust. Our partnership with TrustIn marks a significant step in making secure, transparent transactions accessible to all. By leveraging our partnership with TrustIn, we aim to ensure that businesses in the UAE and GCC confidently engage in trade, driving economic growth and innovation across the region.”
Momeen Ahmad, CEO of TrustIn, added, “Joining hands with iACCEL GBI is a significant milestone for TrustIn. We look forward to leveraging their network and capabilities to expand our footprint across the UAE and GCC. Together, we aim to make escrow services more accessible and reliable for businesses of all sizes, ultimately driving growth and innovation in the region.”
Parvez Akram Siddiqui, Co-Founder and Chief Technology Officer of Trustin, said “At TrustIn, our mission has always been to provide secure, transparent, and reliable escrow services to businesses and consumers across the Middle East. By combining TrustIn’s innovative digital escrow platform with iACCEL GBI’s vast network and market expertise, we are well positioned to revolutionize the transaction landscape in the region. This collaboration not only enhances trust and security in financial transactions but also empowers businesses to grow with confidence, knowing that their interests are protected at every step.”
Through this partnership, iACCEL GBI and TrustIn aim to revolutionize secure transactions in the Middle East and offer a seamless and secure payment gateway for businesses in the region.
About iACCEL Gulf Business Incubator (iACCEL GBI):
iAccel Gulf Business Incubator (“iAccel GBI”) is a leading go-to market accelerator that
offers end-to-end support to startups looking to expand effectively into the UAE and Middle East. Launched in 2023, under the patronage of Dubai SME and the Hamdan Innovation Incubator (Hi2), iAccel GBI offers end-to-end setup support to startups, including market access to both government and private sectors, easy access to funding, business advice, networking opportunities, and other related services.
About TrustIn:
TrustIn is the Middle East’s first regulated digital escrow service provider, operating within the regulatory framework of the FSRA. Launched in 2024, TrustIn’s digital platform empowered with escrow services facilitates real-time monitoring of financial transactions between unknown or known parties by safeguarding their payments and enhancing protection and trust for business transactions. TrustIn aims to make escrow services more accessible to businesses in the Middle East through its comprehensive service offering.