Abu Dhabi fintech firm Quantix secures Dh1.8-billion financing deal to support lending platform

An Abu Dhabi-based fintech company has secured one of the largest financing deals for a local firm in the industry: An equivalent of Dh1.8 billion in asset-backed securitisation financing.

Quantix Technology Projects LLC — a subsidiary of Astra Tech — received the funding from banking giant Citi to support its CashNow consumer lending platform.

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Quantix, the first UAE-based fintech to receive a finance company licence from the Central Bank of UAE in 2008, will use the funds to expand its range of financial services.

This milestone reinforces Astra Tech’s vision to develop its Ultra app, a platform that is transforming how users access essential services. The app integrates services such as payments, cross-border transfers, and financing solutions into a seamless ecosystem. With more than 150 million users globally, Astra Tech aims to connect consumers to a full suite of services within a single app—a first in the region.

Dr Tariq Bin Hendi, board member and managing director of Astra Tech, hailed the development. "This financing from Citi allows Quantix and AstraTech to expand the Ultra app ecosystem, offering users a seamless financial experience,” he said.

“Our vision is to build an all-in-one platform that simplifies and empowers consumers' financial decisions—whether it’s securing loans or managing everyday finances. This is just the beginning, as we continue to scale and redefine the future of financial services in the region."

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