Dubai-Based Elevate Raises $5M to Launch FDIC-Insured USD Accounts

▤ Summary

The newly acquired funds will facilitate its expansion into the Middle East and Africa, catering to the regions burgeoning freelance and remote working community. "The rise of remote work and freelancing is a game-changer for emerging markets in the Middle East and Africa," Khalid Keenan, CEO of Elevate, tells StartupScene. "Platforms like Upwork, Maqsam and Deel have empowered talent from countries like Egypt to earn in USD on a global scale. Elevates mission is to ensure freelancers and remote workers keep as much of their hard-earned money as possible by minimizing fees and simplifying the process. "The company plans to expand into additional emerging markets and introduce new financial products like savings and investment accounts.

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