Haifin
Haifin is a blockchain-based trade-finance platform, subsidiary of e& enterprise, that operates a UAE consortium of banks and fintechs on a shared distributed ledger for invoice authentication, fraud detection, and trade validation, and is expanding into GCC, MENA, and APAC.
- Company typePrivate
- Founded2021
- HeadquartersDubai, United Arab Emirates
- Headcount11–50
- GTM typeB2B
- OfferingSoftware
What Haifin does
Haifin (formerly UAE Trade Connect) is a blockchain-based trade-finance platform that operates a consortium of UAE commercial banks, Islamic banks, and fintechs (14 banks plus 5 fintechs per company sources, or 13 banks plus 2 fintechs per alternative sources) on a shared distributed ledger for invoice authentication, fraud detection, and trade validation. The platform is built on a cloud-native microservices architecture deployed on e& enterprise's E1Cloud and combines Distributed Ledger Technology with 'Applied Analytics Intelligence' for anomaly detection; modular use cases include Electronic Bank Guarantees (eBG), a National e-Invoice Registry, AML initiatives, and eKYC/eKYB identity verification. Since commercial launch in 2021, the platform has processed over AED 200 billion in transaction value.
Haifin monetizes through consortium membership fees paid by financial institutions and transaction-based fees on processed trade volume, with go-to-market executed via direct enterprise engagement and referral-driven consortium expansion. The company is a wholly-owned subsidiary of e& enterprise (part of e&, formerly Etisalat Group), which provides cloud infrastructure, enterprise relationships, and strategic backing; headcount is reported at 11-50 employees and operations are concentrated in the UAE. The company is led by CEO Ali Sultan Rakkad Ali Amri and rebranded from UAE Trade Connect to 'haifin' in December 2024 to signal planned expansion into GCC, MENA, and APAC markets.
Revenue, ARR, and burn are not disclosed publicly, and the platform appears to operate as a strategic fintech asset for e& enterprise rather than a venture-backed standalone; there are no external funding rounds or acquisitions in the available record, and growth is being funded through the parent's balance sheet. The principal moat sits in the network effects of the bank consortium and the regulatory first-mover position as the UAE's first commercial blockchain trade-finance DApp, rather than in the underlying analytics or cloud infrastructure, which are increasingly commoditized.
Haifin firmographics
Firmographics- Name
- Haifin
- Legal name
- Haifin
- Website
- https://haifin.com
- Company type
- Private
- Founded year
- 2021
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Haifin is a blockchain-based trade-finance platform, subsidiary of e& enterprise, that operates a UAE consortium of banks and fintechs on a shared distributed ledger for invoice authentication, fraud detection, and trade validation, and is expanding into GCC, MENA, and APAC.
- Ownership category
- akta.pro rank
Haifin industry classification
Industry- Product category
- Trade Finance Technology
- NAICS
- Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)
- SIC
- Finance Services (6199)
- akta.pro primary industry
- Trade Finance & Supply Chain Tokenization (invoices, bills of lading, provenance) (FSAPAIAK)
- akta.pro secondary industries
- AML/KYC, KYB & Identity Verification (VASP/Travel Rule) (FSAPAJAC), Settlement, Clearing & Reconciliation for Tokenized Assets (DvP, PvP, netting, post-trade) (FSAPAIAI), Blockchain Compliance, AML & Transaction Monitoring (On-chain Analytics) (FSAGAMAF)
Keywords
Where Haifin is headquartered
LocationHeadquarters
- HQ city
- Dubai
- HQ country
- United Arab Emirates
- HQ region
- Middle East
Offices1 record
Markets served
Haifin business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Infrastructure, Personnel, Operations, Marketing or Sales
Revenue model
- Consortium Platform Fees: Revenue generated from financial institutions joining the consortium platform. Banks and fintechs pay for access to fraud detection, trade validation, and transaction authentication services.
- Transaction Processing: Platform processes trade finance transactions and generates revenue from transaction value processed. Has processed over AED 200 billion in transaction value since commercial launch in 2021.
Go-to-market motion1 record
Distribution channels2 records
Marketing channels2 records
Haifin product offering
Product offeringCore offering
Haifin operates a blockchain-based trade finance platform that uses Distributed Ledger Technology (DLT) and Applied Analytics Intelligence to provide transaction authentication, invoice validation, and fraud detection for a consortium of commercial banks, Islamic banks, and fintechs. The platform unifies lending institutions on shared infrastructure to mitigate duplicate and fraudulent invoices, enable paperless trade workflows, and support use cases such as electronic bank guarantees (eBG), a national e-invoice registry, anti-money laundering initiatives, and eKYC/eKYB identity verification. Since commercial launch in 2021, the platform has processed more than AED 200 billion in transaction value and hosts 14 commercial and Islamic banks plus 5 fintechs in the UAE.
Product overview
Haifin is a unified blockchain-based trade finance platform (rebranded from UAE Trade Connect in December 2024) that provides fraud detection and trade validation through Distributed Ledger Technology (DLT) and Applied Analytics Intelligence. The platform operates as a consortium model hosting 14 commercial and Islamic banks along with 5 fintechs, and offers modular use cases including Electronic Bank Guarantees (eBG), National e-Invoice Registry, Anti-Money Laundering Initiatives, and eKYC/eKYB identity verification. The platform has processed over AED 200 billion in transaction value since its commercial launch in 2021 and is expanding from UAE into GCC, MENA, and APAC regions.
Differentiator
Problem solved
Functional benefit
Products and services
- Haifin Trade Finance Platform A blockchain-based trade finance platform that uses Distributed Ledger Technology (DLT) and Applied Analytics Intelligence to ensure transactional security and authenticity, providing fraud detection, invoice authentication, and trade validation as a unified ecosystem for banks, financial institutions, and fintechs. It hosts 14 commercial and Islamic banks plus 5 fintechs in the UAE and supports modular use cases including Electronic Bank Guarantees (eBG), a National e-Invoice Registry, Anti-Money Laundering initiatives, and eKYC/eKYB identity verification.
Quantifiable outcome
- Processed over AED 200 billion in transaction value since commercial launch in 2021
- +1 more outcomes
Companies that use Haifin
Customer profileNamed customers7 records
Segments2 records
Ideal customer profiles2 records
Haifin technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature5 records
Haifin partnerships and signals
Strategic signalPartnerships
Seven partnerships are on record, tiered core and minor.
- e& enterprisecoreHaifin is a subsidiary of e& enterprise (formerly Etisalat). The platform is deployed on e& enterprise's E1Cloud platform, leveraging cloud-native infrastructure for scalability and deployment.
- DP World Financial ServicesminorFintech consortium member participating in haifin trade finance platform
- BeehiveminorP2P fintech consortium member participating in haifin trade finance platform
- FAB (First Abu Dhabi Bank)coreLeading consortium bank actively promoting haifin platform for digitizing trade in UAE; addressing critical industry challenges related to duplicate and fraudulent invoices affecting SME financing
- National Bank of FujairahcoreConsortium bank enabling trust in transactions through haifin platform
- Commercial Bank of DubaicoreConsortium bank using platform to reduce fraud and ensure invoice authenticity
- RAKBANKcoreLeading bank on platform addressing fraudulent invoices and improving trade ecosystem transparency
Scale indicators3 records
Recent moves7 records
Expansion highlights5 records
Haifin competitors and assessment
Company assessmentDirect peers
- Komgo: Komgo is a blockchain-based trade finance platform built as a consortium of major global banks and commodity traders. It directly competes with Haifin in providing distributed-ledger fraud detection, KYC, and digital document exchange for trade finance.
- Marco Polo Network (TradeIX): Marco Polo Network is a trade-finance and working-capital platform on R3 Corda connecting banks and corporates. It targets similar use cases (invoice financing, supply chain finance, fraud reduction) and competes for the same bank-consortium customers as Haifin.
- Contour (formerly Voltron): Contour is a bank-led blockchain network for digitizing letters of credit and other trade documents. It overlaps with Haifin's electronic bank guarantees and digital trade-document use cases and competes for global bank consortium participation.
- Taulia: Taulia is a working-capital and supply-chain finance platform serving corporates and banks with invoice discounting and dynamic discounting. It overlaps with Haifin's trade-finance and invoice-fraud use cases from a fintech/platform angle.
- LiquidX: LiquidX operates a digital trade finance and working capital network connecting banks, insurers, and corporates. It competes with Haifin in digitizing receivables, letters of credit, and supply-chain finance transactions.
Broad incumbents
- R3 (Corda): R3 provides the Corda enterprise blockchain platform used by many financial institutions and underpins several trade-finance consortia including Marco Polo. It is a broader incumbent offering infrastructure that competes with and complements Haifin's DApp approach.
Regional players
- TradeGo: TradeGo is an Asia-based (Hong Kong) electronic trade platform consortium for trade finance and supply chain finance. It is a regional peer in Haifin's target APAC expansion corridors and addresses similar digitisation and fraud-prevention needs.
Emerging players
- Enigio: Enigio provides digital original document solutions (trace:original) for trade finance, enabling electronic bills of lading and other negotiable instruments. It overlaps with Haifin's paperless trade and e-document use cases.
Others
- Beehive (P2P SME financing): Beehive is a UAE-based peer-to-peer SME financing platform and is itself a Haifin consortium member. It is an ecosystem partner/participant in the trade-finance fraud-detection network rather than a direct competitor.
- e& enterprise: e& enterprise is the parent company and infrastructure provider for Haifin, supplying cloud (E1Cloud) and enterprise capabilities. It is an ecosystem/parent participant rather than a market competitor.
Market position
Strengths1 record
Weaknesses1 record
Competitive moat6 records
Key risks6 records
Key highlights6 records
Customer concentration
Haifin social profiles
Digital presenceHaifin financial estimates
Financial estimateRevenue estimate
Valuation estimate
Haifin leadership team
Management profileNumber of profiles
Profiles1 record
Haifin funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Haifin M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Haifin
What does Haifin do?
Haifin operates a blockchain-based trade finance platform that uses Distributed Ledger Technology (DLT) and Applied Analytics Intelligence to provide transaction authentication, invoice validation, and fraud detection for a consortium of commercial banks, Islamic banks, and fintechs. The platform unifies lending institutions on shared infrastructure to mitigate duplicate and fraudulent invoices, enable paperless trade workflows, and support use cases such as electronic bank guarantees (eBG), a national e-invoice registry, anti-money laundering initiatives, and eKYC/eKYB identity verification. Since commercial launch in 2021, the platform has processed more than AED 200 billion in transaction value and hosts 14 commercial and Islamic banks plus 5 fintechs in the UAE.
Is Haifin a public or private company?
Haifin is a private company. It is classified as corporate owned and is currently operating.
When was Haifin founded?
Haifin was founded in 2021. It employs 11 to 50 people.
Where is Haifin based?
Haifin is headquartered in Dubai, United Arab Emirates, in the Middle East region.
How does Haifin make money?
Two revenue lines are on record. Consortium Platform Fees are the primary driver. The others are transaction Processing.
Who are Haifin's main competitors?
Direct peers on record are Komgo, Marco Polo Network (TradeIX), Contour (formerly Voltron), Taulia and LiquidX. R3 (Corda) is listed as a broad incumbent. TradeGo is listed as a regional player. Enigio is listed as an emerging player. Others are Beehive (P2P SME financing) and e& enterprise.
Does Haifin have an API?
No public API is recorded for Haifin.
What industry is Haifin in?
Haifin's product category is Trade Finance Technology. Its primary akta.pro industry code is FSAPAIAK, Trade Finance & Supply Chain Tokenization (invoices, bills of lading, provenance), with a secondary code of FSAPAJAC, AML/KYC, KYB & Identity Verification (VASP/Travel Rule). Its NAICS code is 522320 and its SIC code is 6199.