Sheraa Empowers Start-up Ambitions with Free Services on Wio’s all-in-one Financial Platform

For any aspiring or established founder, robust, reliable and  reputable financial services management is a top business requirement. To this end, Sharjah  Entrepreneurship Center is changing the game for UAE start-ups as it joins forces with the region’s first platform bank, Wio Bank, through a strategic Memorandum of Understanding  (MoU), which will empower ecosystem players with Wio platform that is built to reboot banking  for the new digital age.  

Under the terms of the partnership between Sheraa and Wio, all Sheraa start-ups stand to benefit  from a limited-period offer featuring 90 days of free financial services from Wio Bank, followed by  a reduced monthly membership fee compared to the bank’s standard rate.  

The MoU was signed by Najla Al Midfa, CEO at Sheraa, and Jamal Al Awadhi, COO and CXO at  Wio Bank, on August 23rd, at xxx. 

Commenting on the new collaboration, Najla Al Midfa, CEO of Sheraa stated, “Our strategic  partnership with Wio Bank is a powerful testament to our unwavering commitment to creating a  supportive ecosystem for start-ups and igniting the spirit of entrepreneurship in Sharjah and the  UAE. This milestone represents a significant leap forward as we enable startup growth and attract  exceptional talent to our vibrant city and provide added value through partnerships such as these.  Together, we will empower the youth, nurture their innovative ideas, and provide start-ups with  the necessary resources to thrive. The collaboration with Wio Bank strengthens our resolve to  unlock limitless opportunities and shape an inspiring future for the startup landscape in Sharjah.” 

Jamal Al Awadhi, Chief Operating and Experience Officer at Wio also commented on the  partnership: “We are thrilled to partner with Sheraa in our shared vision of empowering start-ups and promoting entrepreneurship in the UAE. Through our seamless all-encompassing platform,  we aim to revolutionise the way founders manage their finances, providing personalised and  invaluable digital banking services. Together with our new partners, we are committed to nurturing  innovation, enhancing access, and creating a vibrant start-up ecosystem for businesses to thrive  in Sharjah.” 

Providing an advantageous environment for economic growth 

As part of the MoU, start-ups and freelancers can access all-in-one services to manage salaries,  rent, VAT, among other things, that will empower them to streamline their financial operations and  focus on growing their businesses. The integration of Wio Bank’s digital banking solutions with  

Sheraa’s existing support programs and resources will provide entrepreneurs with a seamless  and efficient platform to manage their finances and fuel their entrepreneurial endeavours.

Additionally, Sheraa and Wio Bank will also collaborate on various initiatives, including  knowledge-sharing sessions, workshops and networking events. These activities will enable  entrepreneurs to gain insights, learn best practices and forge valuable connections within the  UAE’s vibrant startup ecosystem.  

Opening digital doors to a prosperous future for businesses 

The collaboration with Wio Bank is a testament to Sheraa’s strategic approach in creating a  conducive environment for start-ups to thrive. Wio Bank, as the region’s first integrated digital  banking platform, provides essential services for entrepreneurs and freelancers. Sole proprietors  and freelancers with a freelancer permit can benefit from Wio Bank’s 100% digital bank accounts,  easy account opening and switching, zero hidden charges, and account plans tailored to their  needs. Furthermore, Wio Bank offers a competitive 3% interest per annum on savings spaces,  regulated by the Central Bank of the UAE. 

Through this partnership, both parties will work together to support the creation and influence the  development of a vibrant start-up ecosystem in Sharjah. The collaboration aims to attract and  retain entrepreneurs in Sharjah by offering them a comprehensive range of services and  resources. By encouraging innovation, nurturing thought leadership, and showcasing successful  ventures within Sharjah, Sheraa and Wio Bank are dedicated to raising Sharjah’s profile as a  vibrant, globally connected, and impact-creating start-up hub. 

Sheraa remains committed to its mission of fostering growth and innovation among aspiring  entrepreneurs. Through strategic collaborations, Sheraa continues to provide start-ups with the  necessary tools, guidance, resources, and investor pairing to transform their ideas into successful  and sustainable businesses.